Associate Director, US Sanctions Program Management Associate Director, US Sanctions Program  …

Standard Chartered Bank
in Newark, NJ, United States
Permanent, Full time
Last application, 25 Sep 20
Standard Chartered Bank
in Newark, NJ, United States
Permanent, Full time
Last application, 25 Sep 20
Associate Director, US Sanctions Program Management
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.

Job Purpose

FCC Europe Americas Sanctions Compliance organization provides advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and Group Sanctions Policy and Procedures on an ongoing basis.

The Manager, US Sanctions Program Management role is to provide a Second Line of Defense point of contact for Antiboycott related activity within Financial Crime Compliance ("FCC") Sanctions Compliance Americas. The Manager, in undertaking their duties, shall implement the SC brand promise of being "Here for Good"; upholding the Group Code of Conduct; understanding the Group's business strategy; and demonstrating the bank's core values in being Courageous, Responsive, International, Creative, and Trustworthy within the role's expectations.

In addition to Antiboycott and Trade Advisory, the role also advises Relationship Managers in the event of Non-Compliant Transactions (NCT) that group clients are involved in, and, as needed, provide coverage with respects to ad-hoc and annual client CDD with respects to Sanctions Risk Assessment Forms (SRAF) review and support to the Policies and Standards teams in regulatory review within the OWLs system and Departmental Operation Instructions (DOI) reviews. Lastly the duties will include development and maintenance of the Potential Circumvention Attempts Metrics (PCA) for FCCA Sanctions and for delivery to the U.S. Trade Working Group.

The Role Responsibilities

  • Optimize operational capabilities and employ strategies to maximize effectiveness and efficiency to transform and steer the firm's sanctions compliance processes in a positive direction. Spearhead strategies to manage budget and resource allocation for the FCC Europe Americas Sanctions Compliance organization; define and implement process improvements and new technologies and collaborate with various functions on systems implementations

  • Provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices, and Group Sanctions Policy and Procedures.
  • Analyse comprehensive impact of anti-financial crime related regulatory matters on relevant business area(s) and its operations.
  • Ensure that key changes (to laws, rules, regulations) are implemented (in region/country), in coordination with Group communications.
  • Support relevant stakeholders to make decisions based on current internal and external requirements, practices and trends.
  • Execute the strategy for the Americas OFAC and Sanctions Compliance Program;
  • Maintain and ensure effectiveness of Sanctions Compliance Program by defining reporting metrics, including Key Risk Indicators and Key Performance Indicators, to be used to monitor the health of the Program;
  • Provide subject matter expertise in the design and implementation of the Antiboycott Compliance program and where relevant, the global systems implementations, sanctions testing, monitoring and training programs;
  • Support general compliance activities across the organization and other duties, including special projects, as assigned;
  • Global Subject Matter Expert for US/OFAC matters e.g, with respect to Sanctions & Embargo laws and regulations, OFAC reporting etc.;
  • Assist as necessary in the Co-ordination and engagement with the Sanctions Monitor in connection with US/OFAC Sanctions Matters;
  • Development and implementation of an adequate and sustainable sanctions compliance control framework.
Risk Management
  • Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
  • The ability to interpret the Group's financial information, identify key issues based on this information and put in place appropriate controls and measures.
  • Responsible for assessing the effectiveness of the Group's arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas
  • Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
  • Responsible for delivering 'effective governance'; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.
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.
  • Lead the [country / business unit / function/team] to achieve the outcomes set out in the Bank's Conduct Principles : [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters with the BIS on matters related to Anti Boycott Compliance.
  • Exercise authorities delegated by the Board of Directors and act in accordance with Articles of Association (or equivalent)
Key Stakeholders
  • Global Head - Economic Sanctions Compliance, FCC High Risk Clients and Emerging Threats
  • Regional Head, FCC, Sanctions Europe & Americas
  • Head, FCC Europe
  • Group Sanctions and Regional Sanctions Teams
  • FCC Controls
  • Corporate and Institutional Banking
  • Key US Regulators (NYDFS, NYFRB, OFAC, BIS).
  • FCC Assurance & Continuous Assurance
  • Group Internal Audit

Our Ideal Candidate
  • Bachelors degree from an accredited institution or relevant work experience
  • Advance degree will be viewed positively
  • ACAMS Certification will be viewed positively
  • Direct work experience in a similar role within financial services, banking or regulatory environment.

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.
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