Director, FCC Correspondent Banking Advisory

  • Negotiable
  • New York, NY, USA New York NY US
  • Permanent, Full time
  • Standard Chartered Bank
  • 17 Apr 18 2018-04-17

The US Correspondent Banking Advisory Role is responsible for supporting SCB New York in managing the AML risk associated with Correspondent Banking activity booked specifically in the region. This applies to Correspondent Banking activity involving third party clients and SCB affiliates. This involves providing insight, analysis and recommendations regarding the identification and mitigation of financial crime risk affecting this business in region.


* Initiate and contribute to the overall risk and control enhancements to the Correspondent Banking program for SCB Americas.
* Additionally act as back up for other product areas within the responsibility of FCCA CIB team; that is Trade, FM and CF.

* Support a risk based assessment of the Correspondent Bank portfolio focusing both on individual client and aggregate risk e.g. by client type, by market etc.
* Support prioritization of client reviews based on risk parameters
* Support the implementation of a local Correspondent Banking control framework, including policy development as required; propose new/revisions to existing controls to incorporate changes to industry best practice and regulatory expectations

* Perform analysis on individual clients to understand thematic risks, strength of their control environment, underlying client base and level of risk; this includes reviews of SARs and other risk metrics and data as appropriate
* Recommend ways of mitigating risk and work with business management and GAMs to implement mitigants and controls
* Drive, and chair where appropriate, working groups focusing on elements of the Correspondent Banking control and governance framework to ensure focused discussion and action on key areas
* Work closely with the global Correspondent Banking Due Diligence team to ensure that key clients are prioritized appropriately and that US based risk factors are understood and appropriate mitigants are identified
* Participate in select client reviews, including potential client visits (both at client site and on site at SCB), on a risk priority basis
* Perform ad hoc special reviews or projects as advised by FCC Head, CIB
* Monitor and identify industry developments to ensure industry best practice
* Contribute materials and support agenda items at the US Correspondent Bank Operating Group
* Ensures appropriate documentation of controls and control decisions
* Support and contribute to development of trainings and workshops in region specifically tailored around Correspondent Banking financial crime risk
* Supports an annual risk assessment of Correspondent Banking, working with the FCC Risk Assessment team and business management
* Prepare reports for senior management in the region and for Global FCC when required.
* Ensures timely escalation of incidents, control breaches and other matters to relevant stakeholders as required.

* Ensure a full understanding of the risk and control environment in area of responsibility.


* Awareness and understanding of the regulatory framework in which the firm operates, and the regulatory requirements and expectations relevant to the role
* Deliver effective governance'; challenge fellow executives effectively; and 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.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
* Embed the Group's values and code of conduct to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees form part of the culture.

Key Stakeholders

* FCC Americas Head, CIB
* FCC senior management in region, particularly the regional FCC Controls group and FCIIU, plus Risk Assessment team
* Senior business management in the region, in particular senior TB and CIB management
* FCC group management, in particular the Correspondent Banking Due Diligence team and the Global FCIIU
* Relationship managers globally

Education, Experience and Accreditation

* Bachelor degree in a control related discipline, Business, Finance, Economics or related field of study, from an accredited institution
* Graduate degree will be viewed positively
* CAMS Certification preferred.
* At least 7 years of Financial Services or Banking or Operations experience
* 3+ years of direct experience in Financial Crimes Compliance, or equivalent appropriate control function or business experience, with sound understanding of the current environment and key issues, within the Banking/Financial Services industry, specifically in the context of the Correspondent Banking risk

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