Director, CFCC Assurance Systems and Data
- Recruiter
- Standard Chartered Bank
- Location
- Chennai, India
- Salary
- Competitive salary
- Posted
- 29 Sep 2020
- Closes
- 30 Sep 2020
- Ref
- 2000013420
- Approved employers
- Approved employer
- 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
Conduct, Financial Crime & Compliance (CFCC) are here to enable sustainable business: delivering the right outcomes for our clients and our markets by driving the highest standards in conduct, in fighting financial crime, and in compliance.
Strategy
Business
People and Talent
Risk Management
Governance
Processes
CFCC Assurance fieldwork may require international travel for extended periods of time.
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
Conduct, Financial Crime & Compliance (CFCC) are here to enable sustainable business: delivering the right outcomes for our clients and our markets by driving the highest standards in conduct, in fighting financial crime, and in compliance.
Strategy
- The strategy within CFCC is 'to prove that the Bank is leading the way in combating financial crime, whilst providing quality service for our clients'. The role of CFCC Assurance is to provide the Bank's Senior Management with the evidence that proves that the strategy is succeeding.
- As a member of the CFCC Assurance team, the Director, CFCC Assurance is responsible for the planning, execution, evaluation, reporting and advancement of CFCC Assurance reviews (the "Review") and periodic testing of key compliance controls, processes, procedures and system outcomes to demonstrate compliance with Group and local requirements addressing money laundering, terrorist financing, sanctions and anti-corruption and bribery.
- The Director, CFCC Assurance is expected to implement and maintain a sound, prudent and effective regime for the reviewing, testing, tracking and reporting of compliance, risk management, governance and regulatory issues specific to money laundering, terrorist financing, embargo & sanctions, exposure to politically exposed persons, corruption and bribery. The role is also responsible to report and provide assurance that all identified compliance and risk management issues are being tracked to satisfactory and are being dealt with in an effective manner
Business
- Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
- Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to CFCC.
People and Talent
- Provide leadership, management and coaching to 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 streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
- Collaborate with training teams to input to training curriculum to support closing of capability gaps.
- Where directed by the Director CFCC Assurance, Systems and Data , participate and support across the wider assurance team.
- Ensure staff in CFCC Assurance, Systems and DataTeam have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.
Risk Management
- Develop the of capability to provide Assurance across all CFCC risk types.
- Make recommendations to relevant stakeholders on possible risk management responses to identified risks and / or issues from assurance reviews; support them in the execution of mitigating actions.
- Adhere to the required standards of risk management for the management of all Assurance processes.
Governance
- Assist with the delivery of the CFCC Assurance plan for Thematic & Rapid Response assurance.
- Support and drive coordination for all CFCC Assurance, Systems and Data activities;
- Support and own (where appropriate) specific assurance interface with CFCC Product and Client leads;
- Support the assurance interface with CFCC Policy teams;
- Manage and lead review activities in response to Regulatory findings, emerging issues and other unplanned for initiatives;
- Provide ongoing assessment of specific CFCC (e.g. AML, Sanctions and ABC) to Director CFCC Assurance,Systems and Data;
- Contributing to a coordinated annual risk-based CFCC Assurance plan, including first and second line of defence activities.
- Undertaking specialist second-line of defence CFCC Assurance Reviews to test the validity and appropriateness of, and business compliance with, financial crime policies and procedures.
- Attend relevant leadership meetings if and when required.
- Ensure tracking and remediation of significant issues arising from CFCC metrics, CFCC Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary
- 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.
- Prepare and cascade lessons learned from audit findings, CFCC assurance activities and specific investigations.
- Propose control improvements, enhancements and simplifications where appropriate.
- Develop and manage appropriate CFCC Assurance methodologies and standards.
- Prepare a coordinated annual risk-based CFCC Assurance plan, including first and second line of defence activities.
- Undertake specialist second-line of defence CFCC Assurance Reviews to test the validity and appropriateness of, and business compliance with, financial crime policies and procedures.
- Support all control checks undertaken by CFCC under the Operational Risk Framework (ORF).
- Coordinate with first line of defence (e.g. business) and third line of defence (e.g. Audit) to provide comprehensive risk-based Assurance coverage across the Group.
- Implement quality assurance standards and workflows for the CFCC Assurance function.
- Periodic reporting and timely escalation of significant risks and issues arising from CFCC and Assurance activities.
- Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
- To assist the Director, CFCC Assurance,Systems and Data, in relation to all CFCC assurance activities, including the planning, coordination, execution, evaluation, drafting of and issuing of assurance review reports;
- Co-ordinate/support the management of audits/exams.
Processes
- Providing governance and oversight over the implementation of CFCC-related policies and procedures in the Group to ensure compliance with such policies and procedures.
- Provide advice to relevant stakeholders on compliance with Group standards relating to AML, Sanctions and ABC.
- Planning: Pre-Review Preparation
- Scope out Review far enough in advance that Compliance and the Business can arrange the appropriate resourcing to be available;
- Socialise with the relevant business areas explaining the purpose of the Review; and
- Fact finding.
- Fieldwork
- Identify, read and ensure coverage of applicable local laws/regulations in either Group or local Policies/Procedures;
- Identify and obtain documents, reports, and system access required to complete the Review;
- Meet with stakeholders to discuss their concerns;
- Prepare a list of attributes to be tested and document detailed test methodology;
- Plan the Review in accordance with the CFCC Assurance Methodology and agree with the Director CFCC Assurance, Systems and Data;
- Provide documented results and conclusion for each of the fieldwork test steps; and
- Retain a record of work completed in order to satisfy internal and external regulatory expectations.
- Reporting
- Document the results of all tests, interviews and observations to completely reflect the knowledge we gained during the review and support any issue we raised;
- Undertake data analytical work to determine a system's effectiveness in relation to specific criteria in line with policies;
- Consider reports issued by regulators, Group Internal Audit ("GIA") and CFCC Assurance and review Management's remediation efforts;
- Draft report findings, including ratings in conformance with the CFCC Assurance Methodology, with a view to discussing remedial actions with Action Owners;
- Determine the root cause of issues reported in accordance with CFCC Assurance Methodology;
- Agree distribution of the final report;
- Discuss work performed and reported findings with the Director CFCC Assurance, Systems and Data
- Issue Tracking:
- Track progress and resolution of findings of all issues on the Issues Tracker until validated and closed.
- Record validation rational in assurance work papers.
- Assist the Director CFCC Assurance, Systems and Data and the Global Head of CFCC Assurance gather information for management information reporting as necessary.
CFCC Assurance fieldwork may require international travel for extended periods of time.
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.
- Achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Key Stakeholders
- Regional Leadership teams.
- Head, Governance, Strategy & Frameworks and the Heads, Governance, Strategy & Frameworks, (Lines of Business).
- Head, Group Compliance Assurance
- Country Risk & Compliance teams.
- Regional Head, Group Internal Audit.
- Head of GSSC.
Other Responsibilities
- Embed Here for good and Group's brand and values in CFCC Assurance, Systems and Data Team.
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
- Strong assurance, audit or regulatory inspection experience within a bank/finance environment (preferably in Anti-Money Laundering ("AML"), Sanctions, Anti-Bribery and Corruption).
- Experience undertaking IT audit and/or data analytics work.
- Knowledge of Compliance and local laws and regulations relating to CFCC and an understanding of best practice risk management techniques and frameworks relevant to the banking industry.
- Strong experience of assurance in an international environment.
- Excellent interpersonal, oral and written communication skills.
- Multi cultural awareness and sensitivity.
- Strong analytical skills and sound judgement.
- Strong team player.
- Strong influencing skills.
- Drive, independence and enthusiasm.
- Relevant IT Audit (e.g. Certified Information Systems Auditor ("CISA") or Qualification in Computer Audit ("QiCA")) or data analytics related certification (Preferred).
- Certified Anti Money Laundering Specialist ("CAMS") or International Compliance Association Diploma (ICA Dip AML) Certification (Preferred).
- Certified Financial Crime Specialist ("CFCS") Certification (Optional).
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.