Director, Financial Control Risk Specialist

Standard Chartered
Full time Full day
Karachi




Job: Governance, Risk Management & Compliance


Primary Location: Africa & Middle East-Pakistan-Karachi


Schedule: Full-time


Employee Status: Permanent


Posting Date: 02/Feb/2024, 1:35:20 AM


Unposting Date: 16/Feb/2024, 5:59:00 PM




Responsibilities


Business



  • Analyse comprehensive impact of financial crime related regulatory matters on the relevant business area and its operations.



  • 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 FCC.



  • Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy or information security regulations.



  • Ensure that risk frameworks and associated standards are effectively communicated and understood by process owners.


Processes



  • Providing governance and oversight over the implementation of FCC-related policies and procedures in country to ensure compliance with such policies and procedures.



  • Provide advice to relevant stakeholders on compliance with Group standards relating FCC risks



  • Act as (second line) Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to FCC risks and escalate issues as appropriate.



  • Act as the delegated Risk Framework Owner under the Enterprise Risk Management Framework for AML



  • Oversee the assessment of all AML risks identified in Business and Function (including FCC-owned) processes.



  • Ensure that where risks are outside appetite the root cause is determined and addressed.



  • Act under delegated authority to make client specific risk decisions.



  • Act as the principal point of contact for Country CFCC Advisory and responsible to join up the FCC-function so that effective outcomes are realized in first line processes requiring fewer touch points between FCC and the first line.



  • Equip Country CFCC Advisory Heads & Country CFCC Governance Head with the necessary FCC skills and knowledge, and escalation points within FCC, to discharge their delegated authority for FC risks.



  • Engage with Country CFCC Advisory Heads & Country CFCC Governance Head to ensure that FCC risks are effectively managed in the Businesses in line with the risk frameworks.



  • Provide specialist expertise to Country CFCC Advisory by drawing on resources under direct control and leveraging the wider FCC function.


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, prioritization, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.



  • Provide input at business, function, country and individual level as appropriate, on compliance matters which should have a bearing on remuneration pools or individual bonuses (for senior staff).



  • Ensure Country is adequately resourced and staffed by an appropriate number of competent staff sufficiently independent to perform duties objectively, to support sustainable business growth and address financial crime risks.



  • Ensure staff in Country have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.





Risk Management



  • Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management



  • Provide advice on the application of risk management frameworks (e.g. ORF, GRA).



  • Apply Group and FCC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.



  • Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.



  • Assess risks arising from products / segments / geographies / customers / transactions.



  • Inform senior management and relevant regulators of serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate.



  • Anticipate horizon risks in the area of financial crime that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks.



  • Advise relevant stakeholders on outcomes of FCC risks identification and assessment methodologies.



  • Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.





ABC Lead:



  • Communicate ABC messages periodically to staff in country, and serve as an ABC contact point for in-country teams, promoting the ABC Programme and Championing the Bank's zero tolerance approach to Bribery and Corruption



  • Provide ABC Training,



  • Review of ABC Management Information reports and to timely report to Country Financial Crime Risk Committee or the relevant governance forum,



  • Oversee timely completion of the country-level ABC Global Risk Assessment process and assess Residual Risk for ABC at Country level within applicable processes and timeframes



  • Execute advisory responsibilities as per the ABC control framework and oversee escalations and remediation activity,



  • Ensure the accuracy and completeness of the country Intermediaries listed on the central register, through consultation with Country Function and Business stakeholders, and validation with the Country CEO on a periodic basis,



  • Oversee ABC related country-level audits and assurance reviews,



  • Hold regular meetings with key ABC stakeholders in country



  • Be knowledgeable and aware of ABC trends in country



  • Review/analyse and approve/reject Intermediary Screening requests received from across bank while ensuring it covers the ABC Risk.



  • Review request from across bank and give approval/opinion from ABC context.



  • Any other responsibilities required of the ABC Policy and Standard.





Governance



  • Support senior oversight of FCC country.



  • In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.



  • Provide leadership to the FCC network as part of the Group senior FCC management team.



  • Engage effectively with senior members of the Business and COO functions where needed.



  • Lead or influence significant programmes of work in the Group in support of the Group's financial crime compliance objectives, for example major capability upgrades or remediation activities.


Key Stakeholders



  • Country CFCC Head



  • Country Head of FCC



  • Head, CPBB CFCC Advisor



  • Head, CCIB CFCC Advisory



  • FCC Governance



  • Business Units (CPBB & CCIB)



  • Other Units.


Other Responsibilities



  • Embed Here for good and Group’s brand and values in FCC Pakistan



  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

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