- Permanent, Full time
- Standard Chartered Bank Singapore
- 05 Jan 18
Head of Compliance, Retail Banking, Singapore
- Location: Singapore
- Salary: Negotiable
- Job Type: Full time
* Support Head of Compliance, Singapore, in implementing the vision, strategy and direction set by the Regional Head of Compliance, ASA. * Support efforts to promote, lead and manage the culture of compliance and ethics to ensure that the conduct of business is within regulatory requirements and ethical standards consistent with supporting the Group's strategic direction and growth aspirations.
- Support the establishment and maintenance of frameworks to ensure compliance with applicable regulatory requirements and internal policies and procedures, so as to protect the Bank's reputation and balance the needs of various stakeholders.
- Support Retail Banking and Wealth Management on regulatory matters.
- Support Retail Banking and Wealth Management in coordinating regulatory inspections and off-site supervisory reviews conducted by the MAS.
You will be responsible to
- Assist Head of Compliance, Singapore, to establish and maintain effective processes to ensure that there are adequate controls to mitigate compliance and regulatory risks.
- Monitor for regulatory reforms that may impact Retail Banking and Wealth Management, and provide proactive and timely identification, dissemination and advice of regulatory changes and associated risks.
- Provide guidance on proper applications and interpretation of laws and regulations applicable to Retail Banking and Wealth Management, including those relating to investment and insurance products, as well as financial advisory and sales processes.
- Advise Retail Banking and Wealth Management on material compliance issues and proactively monitor business specific regulatory developments.
- As part of the products approval process, ensure material regulatory risks are identified and appropriately mitigated. Review the Country addenda of product approval documents for local and cross-border regulatory risks.
- Raise awareness of, regulatory risks and issues by providing specific training on regulations and compliance policies.
- Support the preparation of regulatory inspections and off-site supervisory reviews by attending to information requests, questionnaires and enquiries raised by the MAS.
- Assume active involvement in management of critical issues that have a significant regulatory impact on the Bank's business operations. In the event of serious regulatory breaches, or where risk tolerances have been breached, responsible for ensuring the relevant business and senior management are informed and that actions are taken quickly to remediate and/or activities are ceased.
- Perform duties objectively and to support sustainable growth in an independent manner.
Apply if you have...
- Compliance professional of at least 10 years standing.
- Be well-verse in the understanding of the Banking Act, Securities and Futures Act, and Financial Advisers Act.
- Good judgment enabling the provision of sound advice in difficult areas of regulation and practice and the proactive management of compliance and regulatory risk.
- Must possess strong leadership qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity.
- Ability to manage and give leadership to business and functional stakeholders.
- Sound judgment on business practices, regulatory relationship management and reputational risk.
- Personal authority and integrity with proven ability to establish relationships and exert influence at the most senior levels of the Country and with regulators and other external stakeholders.
- Be able to operate independently, and demonstrate robustness in ethics and resilience
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