Associate Director, Conduct, Financial Crime & Compliance - myZoi Venture, SC Ventures
Meet myZoi myZoi is changing lives for the better for those who deserve it the most.
We are an exciting fintech start-up aiming to promote financial inclusion globally. Our vision is to provide a level playing field to the unbanked and the underbanked in accessing essential financial services in an affordable, convenient, and transparent fashion. We are looking for smart, ambitious, and purpose-driven individuals to join us in this journey. Please apply via the link below if you are interested. The Role
This is an opportunity to join myZoi as an Associate Director for Conduct, FInancial Crime & Compliance (CFCC) for the myZoi Venture. The role will be based in the UAE.
The role holder will assist in managing the regulatory compliance and governance framework for myZoi, enabling the efficient and effective governance of CFCC risk:
- Assist in ensuring t here is adequate support (people, processes, tools, frameworks, systems) in the team to enable sustainable business growth and address CFCC risks.
- Assist in ensuring to senior management that the levels of compliance and governance are in line with regulatory expectations and SCB Group requirements.
- Assist in the implementation of the vision, strategy and CFCC plan set by the Chief Compliance Officer, consistent with supporting myZoi 's strategic direction.
- Assist with BAU regulatory relationship management and communications, maintaining an effective and open relationship with the regulators and assisting with licensing, reporting, regulatory queries and routine examinations and inspections.
- Manage myZoi 's financial regulations obligations register and annual attestation process.
- Assist with the development and formulation of Group CFCC policies and procedures to ensure compliance with applicable laws and ensure effective implementation of the program across myZoi.
- Help to develop the regulatory relationships with the lead regulators, whose rules myZoi is subject to.
- Be a 'trusted advisor' to the Business and provide timely advice to ensure compliance with all relevant laws and regulations. Provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to Compliance and FCC .
- Assist with developing a risk-based CFCC framework and a programme for monitoring and assuring compliance that supports the transition to pro-active and pre-emptive regulatory and financial crime compliance and conduct risk mitigation.
- Provide guidance to stakeholders on the application and interpretation of legislation, regulatory guidelines and policies, especially data management related regulations and industry standards relevant to the business.
- Provide robust challenge to relevant business stakeholders where activities are outside risk tolerance/appetite, escalating as necessary, until appropriate oversight and ownership is achieved.
- Proactively support and challenge myZoi's businesses and functions to exhibit appropriate conduct, comply with compliance policy and standards and regulatory and financial crime compliance requirements and strive to achieve fair outcomes for the myZoi 's clients.
- Provide BAU regulatory advice, analysis for new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transitional investigations .
- To manage and conduct investigations that detect and report suspicious activity to governmental authorities and enable the company to form sound judgments concerning reputational and other risks and meet expectations of regulators and other compliance stakeholders.
- Promote the culture and practice of adherence to compliance and FCC standards (including conducting business within regulatory requirements, and to high ethical standards) and the Code of Conduct within myZoi .
- Be guided by and aligned to the Group's and SC Venture's ("SCV's") Compliance framework; and assist producing high quality management information for Group and SCV compliance risk framework owners.
- As an independent second line risk control function, execute the relevant aspects of the Compliance (including Financial Crime and Enterprise) risk 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.
- Implement and conduct regular CFCC training programs on an ongoing basis to educate staff on the relevant regulatory developments, CFCC policies and procedures.
- Assist in setting control standards and provide advice on the development of appropriate controls for the mitigation of regulatory risks.
- Assist in implementing the AML/ CTF/ CDD/ Sanctions policies and procedures.
- Provide advice to relevant stakeholders on compliance with Group standards relating to FCC policies and frameworks.
- Wherever applicable, ensure external SAR reports are properly prepared and filed with the applicable law enforcers as per local regulation requirements.
- Keep proper records and registers for all AML and CTF investigations.
- Escalate to Chief Compliance Officer regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and/or activities are ceased.
- Analyse and interpret the comprehensive regulatory impact of complex Regulatory Compliance matters on myZoi 's business and its operations.
- Advise on material Compliance issues (as required) and to ensure appropriate steps are taken to manage and/or mitigate the issue.
- Oversee identification, assessment, management, monitoring, mitigation and reporting of compliance (including regulatory, conduct and financial crime) risks.
- Identify financial crime risk indicators through various internal/ external sources that impact myZoi and its customers.
- Contributing to the formulation of CFCC policies and standards for approval by the relevant governing body (as necessary) under myZoi 's governance framework.
- Contribute to the development of controls for myZoi in respect of risk categories where Compliance has been defined as Risk Owner as set out in the relevant Risk Management Frameworks.
- Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management.
- Apply local regulations, Group FCC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
- Analyse significant financial crime events (e.g. SAR's, non-compliance transactions) to ensure that all connected parties, particularly cross border are identified and reported at the appropriate levels internally as well as externally across all relevant jurisdictions.
- Collaborate with other CFCC teams within the Group and SCV to anticipate horizon risks that may have a significant impact on myZoi and support the development of effective strategies to mitigate such horizon risks, including global standards for conduct of business.
- Assist with the drafting and implementation of all CFCC policies, standards, department operating instructions and process notes.
- Promote and embed a culture of openness, trust, risk awareness and practice of organisational compliance including assisting with the implementation, socialisation and tracking of regulatory and financial crime policies and standards.
- Assist with the remediation process for any regulatory breaches.
- Assist the Chief Compliance Officer and myZoi with horizon scanning including staying abreast of regulatory changes and breaches within the relevant jurisdictions that may be relevant to myZoi 's business model.
- You d isplay exemplary conduct and live by the Group's Values and Code of Conduct.
- You are willing to t ake personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across myZoi . This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
- You have a strong understanding of the financial services sector, with sound judgment on business practices, regulatory framework and general risk management.
- You have strong organizational and communication skills, curiosity and are a quick learner.
- You have strong stakeholder management and engagement skills, an ability to challenge, identify risks and issues, and drive solutions and change.
- You have hands on experience of 6+ years in legal, financial crime, compliance and regulatory risk management.
- You hold a relevant professional certification in financial crime and compliance (preferable).
- You possess extensive knowledge of corporate governance best practices, delivering Compliance training and overseeing the embedding of a robust compliance framework.
- You enjoy collaboration and working dynamically across country, region, business and group stakeholders to identify , escalate, mitigate and resolve risk, conduct and compliance matters.
- You have strong organizational skills and an orientation to deadlines and detail.
- You have clear, concise and persuasive writing and presentation skills.
- You enjoy a creative fast paced agile world enabling t he CFCC team to achieve the outcomes set out in the Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
- You have strong knowledge and experience of significant and complex financial crime regulations and legislation regarding AML/CTF and sanctions.
- You enjoy making friends, and having fun.
- You're happy to roll your sleeves up when challenges arise .
At myZoi we strive to create a both a product and a team that embraces equality, inclusion, diversity and freedom. We want people who can be themselves and bring their own brand of value to the team. Come and join u
- Imaginative and creative approach to how we do work .
- Curiosity about new technologies, workflows, and products .
- Ability to see things from multiple perspectives, as well as ask the question "why" continuously
- Tireless work ethic and enthusiasm to execute and get things done .
- Knowledge of business concepts, tools, and processes that are needed for making sound decisions in the context of myZoi 's business; ability to apply this knowledge appropriately to diverse situations .
- Good business acumen .
- Knowledge of the i ndustry group, trends, directions, major issues, regulatory considerations, and trendsetters ; and ability to apply this knowledge.
- Ability to understand geographically dispersed and highly varied customer and segment base
- Understanding of effective communication concepts, tools and techniques; ability to effectively transmit, receive, and accurately interpret ideas, information, and needs through the application of appropriate communication behaviours.
s. Created by SC Ventures
SC Ventures ("SCV") was established in 2018 with the purpose of "Rewiring the DNA in Banking" by bringing three distinct areas together:
- The eXellerator Lab, enabling innovation at large in the Bank by supporting intrapreneurs and their ideas, collaborating with fintech's through the SCV Fintech Bridge and engaging with clients and co-creation ideas
- The Investment Fund ("Fund"), tasked to acquire minority stakes in fintech companies ("fintechs") whose technology has been successfully validated in the Group
- Venture building , with the objective of exploring new business models ("ventures"), in the way it engages existing new customers and markets.
There are c.65 team members (excluding individual ventures), including dedicated colleagues from the Group's support functions, based in Singapore, Hong Kong, Shanghai, Nairobi, London and San Francisco.