Director, CFCC Assurance
- Recruiter
- Standard Chartered Bank
- Location
- Singapore, Singapore
- Salary
- Competitive salary
- Posted
- 24 Sep 2020
- Closes
- 29 Sep 2020
- Ref
- 2000013418
- Job role
- Finance director
- Experience level
- Director
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
The Role Responsibilities
Strategy
Business
Processes
People and Talent
Risk Management
Governance
Regulatory & Business Conduct
Key Stakeholders
Other Responsibilities
Our Ideal Candidate
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
The Role Responsibilities
Strategy
- Responsible for acting as the Financial Markets Systems and Data Subject Matter Expert within Group Assurance, providing leadership and advice within the team and on behalf of Group Assurance to other key stakeholders. This requires in-depth assurance knowledge of various FM products (vanilla and complex) and underlying systems and data developed to control the Compliance and Conduct Risk.
- For Financial Markets activities undertaken across the Group FM & Business Compliance Framework Lead is responsible for identifying emerging Compliance risks on account of failures in controls around systems and data and establishing an appropriate risk based program for those elevated risks.
- Responsible for being actively involved as an SME in the planning, execution and governance over systems and data reviews involving Financial Markets Risk, Financial Markets Regulatory Reforms and Compliance Surveillance such as Trade Surveillance and Communication Surveillance working closely with the assigned review leads to drive quality and consistency. The lead is responsible for participating in relevant governance forums as assigned, engage in any developments to Assurance methodology, and communicating relevant information to direct reports
- Responsible for leading and/or participating in reviews required by plan across products, segments and functions, as required and assigned by Program.
- Working closely and provide SME support to the HoA Systems and Data and Director CFCC Assurance Systems and Data in providing adequate coverage over key risks in the financial markets leadership.
- Support and influence the overall CFCC assurance agenda and leadership capability with Financial Markets Systems and Data subject matter expertise
- As the Financial Markets Systems and Data Expert across the Group and Regions, leading the teams to develop high quality CFCC reviews where Financial Markets systems and data as targeted area.
- Support the Head CFCC Assurance Systems and Data , acting as the visible presence for assurance across the Group with Financial Markets senior stakeholders in first and second line; demonstrating an in-depth knowledge of the risks, activities and processes; and act as a delegate at the relevant senior fora and committees
Business
- Ensure that key changes (to laws, rules, regulations) relevant to the execution of Assurance activities are communicated and cascaded to the Assurance team where necessary.
- Communicate outcomes from Assurance reviews to relevant stakeholders and support them in developing mitigating actions to correct identified issues.].
Processes
- In coordination with Program Team, fully engage in the collection of the relevant Financial Markets Risk inputs with focus on systems and data for the risk based assurance plan, participate in the 1st and 2nd Line Stakeholders discussions, gather 1st and 3rd line testing, analyse the Compliance Risk Assessment, review Region Heads Bottoms Up Plan to drive consistency and efficiency across the consolidated plan; provide input to consolidated plan from external regulatory knowledge, and subject matter expertise
- Actively undertake Financial Markets Systems and Data reviews as required by providing hands on and visible leadership in the execution of reviews, including reviewing Scoping Document and Reports under the Quality Assurance Panel requirements for relevant subject matter experts; ensure that all Group's policies and procedures are captured appropriately in the relevant reviews.
- Identify new and changing Financial Markets processes and systems, and regulatory requirements by regulator engagements and outreach internally and externally. Establish appropriate reviews to assess new risk, including the extraterritorial impact.
- Collaborate with 1st and 2nd Line Checks: Develop quality testing programs for Financial Markets Systems and Data Reviews, incorporating controls checks undertaken under the Operational Risk Framework (ORF) and other processes/controls developed to comply with rules and regulations.
- Participate in the senior stakeholder discussions where complex and challenging discussion regarding corrective actions and remediation required to adhere to regulatory requirements or best standards.
- Provide regular input to the Program Team for Periodic reporting and timely escalation of significant risk and issues arising from assurance activities
- Serve as Financial Markets Systems and Data Subject Matter Expert on the Quality Assurance Panels
- CFCC Assurance fieldwork may require international travel for extended periods of time.
People and Talent
- Identify and lead a high performing program with either direct or non direct reports across the Assurance team to deliver high quality reviews.
- Provide leadership, management and coaching to either direct or direct reports to ensure they are highly engaged and performing to their potential.
- Promote and embed a culture of openness, trust, and risk awareness where ethical legal, regulatory and policy compliant conduct is the norm.
- Stimulate an environment where forward planning prioritisation, deadline management and streamline workflows and collaborative, inclusive effective work practices are the norm.
- Support the development of a robust and evolving training curriculum across the team and ensure team are undertaking required developmental learning
- Ensure the team have clearly articulated and well understood roles and responsibility through accurate JD's, as relevant
- Ensure that all standard people management aspects are completed in a thorough and timely way, objectives, appraisals and P3 process, as relevant.
- Complete Mandatory training and ensure all staff complete this.
- Complete skills assessment processes, ensuring their personal skills assessment is correctly completed and maintained.
Risk Management
- Develop capability to provide assurance over CFCC primary risks.
- Make recommendations (and/or implement) to the relevant stakeholders on possible risk management responses to identified risks and / or findings from assurance reviews
- Adhere to the required standards of risk management to manage all the assurance processes.
Governance
- Attend relevant leadership meetings if and when required as by the Head CFCC Assurance Systems and Data
- Determine patterns and trends of identified issues across the Financial Markets Systems and Data reviews, set appropriate corrective action to remediate, and report to appropriate governance forums
- In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management are informed and that actions are taken quickly to remediate and/or activities are ceased.
- Provide input to periodic insight papers, lessons learned, assurance activities and specific investigations.
- Propose control improvements, enhancements and simplifications where appropriate.
- Develop, manage and uphold appropriate Assurance methodologies and standards.
- Prepare a coordinated annual risk-based Assurance plan clearly linked to the ORF
- Promote cooperation and partnership in respect of Assurance with auditors, regulators, peers and industry.
- Incorporate data gathered from first line of defence (e.g. business) and third line of defence (e.g. Audit) when assessing needs for the Financial Markets Systems and Data reviews,
- Adhere to the quality standards and workflows for the Assurance function.
- Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Assurance framework.
Regulatory & Business Conduct
- 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 CFCC Team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
- Head Compliance Surveillance
- Head Financial Market Compliance
- Head Technology FM
- COO FM
- Chief Data Office
- Business Heads for relevant reviews
- Governance and Oversight Team
- Heads, Group Internal Audit
Other Responsibilities
- Perform other responsibilities assigned under CFCC Assurance.
Our Ideal Candidate
- Bachelors degree or Equivalent required
- Auditing, Risk Management, Compliance background focusing Financial Markets Systems and Data required
- Licenses related to Financial Markets and supervision a plus (e.g Series 7, 24)
- Proficiency with Microsoft Office Products
- Robust understanding of Financial Markets systems, products and lifecyles, Surveillance process and
- Experience performing walkthroughs, risk assessments of the internal controls environment, performing controls and substantive testing especially in the Financial Markets with focus on system controls
- Multi-cultural awareness and sensitivity
- Strong team player
- Good knowledge of regional regulatory requirements, including recent regulatory reform
- Previous review or assurance experience with minimum of 2-5 years (compliance or audit reviews, operational risk reviews or testing, risk management)
- Strong analytical skills, and confidence in interrogating data, processes and interviewing stakeholders.
- Excellent oral and written communication skills - ability to present complex information clearly and concisely
- Highly organised individual, with ability to multi-task.
- Driven to ensure that activities are completed to a high standard and to schedule.
- Proactive and creative approach to work, self-motivated and pragmatic.
- Takes responsibility, ownership and accountability for own tasks and work output.
Apply now to join the Bank for those with big career ambitions.
To view information on our benefits including our flexible working please visit our career pages. We welcome conversations on flexible working.