Associate, Compliance, Client Segment Trade Surveillance
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
- 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.
- Support the Head, Compliance, Client Segments Trade Surveillance in evaluating the effectiveness of the Group's Compliance surveillance efforts.
- Support the Head, Compliance, Client Segments Trade Surveillance in maintaining constructive and effective relationships with Business Heads/Business Chief Operating Officers ("COOs") and their teams, 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 Global Head , Compliance, Surveillance and Wealth Management.
- 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 Trade Surveillance Compliance, consistent with Head, Compliance, Client Segments Trade Surveillance 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 to enable the business and functions to meet/ achieve their strategic tactical objectives.
- Provide regulatory advice, analysis (and challenge when appropriate) in relation to Wealth Management (including across the full product life cycle) including product design and documentation through to post sales reviews/assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), transitional investigations.
- Provide robust challenge to business 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.
- Support the Head, Compliance, Client Segments Trade Surveillance in establishing and maintaining 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 Wealth Management .
- Provide support and challenge to Wealth Management business 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).
- Support the Head, Compliance, Client Segments Trade Surveillance as delegated Risk Framework Owner under the Group's Risk Management Framework for Trade surveillance processes where Compliance is the second line Risk Framework Owner.
- In collaboration with relevant senior managers, support a programme for Compliance monitoring, surveillance and assurance .
- 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.
- Assist the Head, Compliance, Client Segments Trade Surveillance to 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 Head, Compliance, Client Segments Trade Surveillance in ensuring 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 Trade Surveillance.
- Support the Head, Compliance, Client Segments Trade Surveillance in providing reports, as required 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.
- Assist Head, Compliance, Client Segments Trade Surveillance in performing Compliance Risk Assessments, including development of mitigating action plans .
Regulatory & Business conduct
- Within the Group's overall Risk Management Framework, support the Head, Compliance, Client Segments Trade Surveillance to establish and maintain appropriate risk based Compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory) risks across Trade Surveillance.
- Support the Head, Compliance, Client Segments Trade Surveillance to develop and recommend appropriate Compliance policies and procedures for approval by the relevant Risk Committee.
- 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.
- Support the Head, Compliance, Client Segments Trade Surveillance to ensure the Trade Surveillance function achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Financial Crime Prevention; Creating the Right Environment.
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and Compliance matters.
- Global Head, Compliance Surveillance
- Global Head, Compliance, Wealth Management and his/her team
- Global Head, Retail Banking Compliance and his/her team
- Global Head, Compliance, Private Banking and his/her team
- Regional Heads of Retail Banking/WM Compliance and their teams
- Country Compliance Heads and his/her teams covering WM Compliance
- Global COO of Private Banking and Wealth Management and his/her team
- Global Head of Operational Risk, Private Banking and Wealth Management and his/her team
Our Ideal Candidate
- Embed 'Here for good' and Group's brand and values in Wealth Management Compliance
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
- Perform the following Trade Surveillance responsibilities:
- Ensure that first-line suitability monitoring is robust and effective in addressing mis-selling risk within the Bank, and the Wealth Management Relationship with Client Standards is an effective deterrent to RMs from mis-selling to our clients through effectively monitoring of RM sales activities.
- Perform trend analysis to identify systemic and thematic risks across various Countries.
- Review exceptions and breaches escalated by the first-line.
- Keep up-to-date on region specific regulation impacting investment sales suitability.
- Produce Management Reports for submission to Countries' Head of Compliance and other key stakeholders.
- Escalate issues that are identified to Head, Trade Surveillance, Client Segments.
- A sound understanding of suitability considerations and the ability to demonstrate them during alerts reviews or alert investigations.
- Able to perform data mining and technical/trend analysis.
- Able to work with different stakeholders to investigate alerts and recommend improvements.
- Able to work independently with minimal supervision.
- Good communication and writing skills.
- Strong Analytical skills.
Apply now to join the Bank for those with big career ambitions.