Executive Director, Compliance, Private Banking

Standard Chartered Bank Singapore
09 Aug 2017
18 Aug 2017
Contract Type
Reports Directly to: Global Head, Compliance, Private Banking
* Help the Group meet its commitment of being "Here for Good" by building a sustainable compliance framework that places regulatory and compliance best practice standards, and a culture of appropriate conduct at the forefront of the Group's agenda.
* As an independent second line risk control function, execute the relevant aspects of the Compliance framework through robust independent risk control and the provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of the Group's business.
* Proactively support and challenge the Group's businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group's clients.
* Evaluate the effectiveness of the Group's compliance efforts.
* Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
* Overall leadership and functional support for all members of the Private Banking teams.
* Maintain constructive and effective relationships with Business Heads/Business Chief Operating Officers ("COOs"), and assist relevant Compliance heads to interface with and support all key business stakeholders.
* Insofar as they relate to regulatory compliance, be responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances (as agreed by the Board from time to time) may occur and notifying any such breaches to Head, Compliance, Private Banking.
* Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.
* Support and implement the vision, strategy, direction and leadership for Private Banking Compliance team, consistent with Global Head, Compliance, CIB, CB and PvB ("Global Head") vision and strategy for the Compliance function and in support of the Bank's strategic direction and growth aspirations.
* Promote the culture and practice of compliance with compliance standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a "Here for Good" culture and the Group Code of Conduct.
* Support and assist the Global Head, Compliance, Private Banking, to:
o Develop the Strategy and business plans for the function;
o Manage the Workplan of key priorities and initiatives, monitor progress against plan and provide status reporting;
o Develop the annual Compliance Training Programme schedule and manage training rollouts;
o Maintain the Compliance Function Learning & Development Programme; and
o Manage the day-to-day operations of the function including capacity planning, organisation charts and cost centre management.
* Build and maintain an effective and constructive relationship with all key business and functional stakeholders that is based on trust, capability and integrity, providing timely, responsive and quality regulatory compliance advice and guidance to enable the business and functions to meet/ achieve their strategic tactical objectives.
* Provide regulatory advice, analysis (and challenge when appropriate) in relation to the full product life cycle including product design through to post sale reviews/ assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), transitional investigations.
* Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
* Work closely with the business to provide timely regulatory compliance advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation.
* Establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address compliance risks (excluding financial crime) are effectively implemented and adhered to across Private Banking.
* Provide support and challenge to the Bank's senior management to ensure that they establish and monitor appropriate processes for compliance with compliance policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct).
People and Talent
* Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
* Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
* Support the initiative to select, employ, engage and retain high quality people, with succession planning for critical roles.
* Responsibility to support the Global Head, Compliance, Private Banking in review of team structure/capacity plans.
* Support the Global Head, Compliance, Private Banking, in the setting and monitoring of job descriptions and objectives for direct reports and provide feedback in line with their performance against those responsibilities and objectives.
Risk Management
* Support the Global Head, Compliance, Private Banking as Risk Owner under the Group's Risk Management Framework for Private Banking processes where Compliance is the second line Risk Owner.
* In collaboration with relevant senior managers, support a programme for compliance monitoring, surveillance and assurance for Private Banking.
* Ensure effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage regulatory issues that have a significant impact on the Bank.
* Collaborate with the other Products Compliance teams and the Compliance Management Group to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks including global standards for conduct of business.
* In the event of serious regulatory breaches, or where risk tolerances have been breached, support the process to ensure senior management in the Bank and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased. Support the proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated risks, and proactive engagement in regulatory reform. Assist and work closely with Shared Investigative Services (SIS) in relation to investigations concerning the Private Banking business.
* Support the provision of reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues.
* Within the Group's overall Risk Management Framework, establish and maintain appropriate risk based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory and financial crime) risks across Private Banking.
* Develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
* Support processes to ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.
Regulatory & Business conduct
(This is mandatory standard wording, please tailor wording in brackets, do not remove).
* Display exemplary conduct and live by the Group's Values and Code of Conduct.
* Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
* Lead the Private Banking Compliance teams to achieve the outcomes set out under the Bank's Conduct Framework.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
* Prudential Regulation Authority, Financial Conduct Authority and other key regulators of the Group
* Senior Business Management
* Credit Risk
* Operational Risk
* Group Internal Audit
Other Responsibilities
* Embed Here for good and Group's brand and values in the Private Banking Compliance teams.
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Diversity and Inclusion

Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.