Associate Director, Compliance, FM Communications Surveillance
- 10K per month
- Kuala Lumpur, Malaysia
- Permanent, Full time
- Standard Chartered Global Business Services Sdn Bhd
- 08 Dec 17 2017-12-08
Compliance, Risk Management for Financial Market
- 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 responsibility for Direct Reports of the Financial Markets Communications Surveillance Compliance team.
- 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 Head, Compliance, FM, Communications Surveillance.
- 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 Financial Markets Communications Surveillance Compliance teams, 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.
- 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; escalating potential identified breaches to enable the business and functions to meet/ achieve their strategic tactical objectives.
- Provide regulatory/compliance 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/ regulations/internal policies and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation.
- Regular and diarised catch ups with all key business stakeholders.
- 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 Financial Markets.
- 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.
- Employ, engage and retain high quality people, with succession planning for critical roles.
- Responsibility to review team structure/capacity plans.
- Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
- Regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
- Ensure regular and documented management meetings with direct reports.
- Assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the business.
- Ensure teams are adequately resourced and capacitised.
- In collaboration with relevant senior managers, support a programme for compliance monitoring, surveillance and assurance for Financial Markets.
- 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, ensure senior management in the Bank and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased. Ensure 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 Financial Markets business.
- Provide reports to relevant Group and Business risk and control committees and management group on key compliance risks and issues.
- Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters are tracked, followed, regularly assessed and reported on.
- 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 Financial Markets.
- Develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
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 CIB & CB Compliance teams to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets, Financial Crime Prevention; Creating the Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Global Head, Compliance, Financial Markets
- Head, Compliance, Financial Markets, Surveillance. & Conduct Monitoring
- Product Heads, Compliance, Financial Markets
- Embed Here for good and Group’s brand and values in Financial Markets, Communications Surveillance Compliance Team.
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Individual Portfolio (if any):
- Lead and manage in maintaining and administering the Communications Surveillance Application,
eg performing periodic / ad hoc or event driven reviews of the lexicon (keyword) list and performing post implementation review.
- Manage and ensure a high quality of the review of the communications surveillance function to detect potential market abuse and irregular behavior that may lead to regulatory / compliance issues. Have oversight to the escalated flagged messages to the relevant parties for further review and follow up.
- Lead / manage the business analysis and project related work for enhancements, changes, and new initiatives within the FM Trade Surveillance / Communications Surveillance space.
- Manage the workload of performing ad-hoc data retrievals and reviews from source,
eg. Bloomberg Vault, Reuters Messenger Compliance Module, OCS, and Ice Chat.
- Manage the periodic review and escalation of chat room administration and usage monitoring
- Manage the periodic manual monitoring by ensuring proper reviews were done and escalations to the relevant parties.
- Escalating potential compliance or regulatory breaches identified within the Communications Surveillance team in a clear, concise manner to Country Compliance / Business Compliance / Control Room / SIS team respectively in a timely manner
- Ensure proper log and record keeping for all escalation documents within the CS-Escalation Team