Anti-Financial Crime & Financial Crime Compliance
Leadership | Insight | Network

Director, FC Risk Specialist, CFCC – Standard Chartered

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

The role of the FC Risk Specialist is to support the Country Head of FCC in the execution of their accountabilities.  Other than surveillance (second line of defence – ACT), the Country Head of FCC is expected to play a largely oversight and consultation role with leverage to be placed on CFCC Advisory and CFCC Governance from a second line perspective.

The successful candidate is expected to

  • Effect ongoing engagement and alignment among the second line to support functioning of the CFCC Target Operating Model. In addition to BAU interaction, the successful candidate drives a monthly meeting among the second lines.  To discharge this responsibility well, the successful candidate has got to be a subject matter expert in MAS 626 particularly from an advisory perspective.
  • Provide adequate cover for the many initiatives and engagements that the Head FCC has to attend to. These include representations in external forums such as the various AML / CFT Industry Partnership (‘ACIP’) working groups and Project COSMIC and internal forums such as the Financial Crime Risk Committee (‘FCRC’), Executive Risk Committee (‘ERC’) and Board Risk Committee (‘BRC’).
  • Support the Head FCC to influence the adoption of necessary enhancements and measures following outcomes of the various initiatives and engagements as stated above. Given the Target Operating Model (‘TOM’) of Conduct, Financial Crime and Compliance (‘CFCC’), the successful candidate has to skilfully engage and probe the adoption by the first line where appropriate and primarily influence via fellow second line colleagues.
  • Perform thematic end to end desk top thematic review such as determining the adequacy of the firm’s controls to mitigate risk from trade-based money laundering at the direction of Head FCC.  In addition to knowing the relevant regulatory expectation and guidelines and internal framework, the successful candidate is expected to engage primarily internal subject matter expert stakeholder.
  • Proactively engage fellow second line colleagues particularly on the adoption of new business strategies and like initiatives from a financial crime risk perspective. This requires the candidate to be interested in market trend and developments.

The incumbent may be asked to take on further responsibility for ABC and Fraud. Other generic requirements as follow.

Strategy

  • Provide support & input to Group/Region/Country/Client Business operating model design of relevant FCC and business processes.
  • Contribute to setting and implementing the vision, strategy, direction and leadership for the [Region/Country/Department], consistent with the vision and strategy for FC and in support of the Group’s strategic direction and growth aspirations.

Business

  • Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
  • Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to FC. providing timely, responsive and quality FC regulatory compliance guidance.
  • Ensure that risk frameworks and associated standards are effectively communicated and understood by process owners.

Processes

  • Working in close partnership with CFCC Business Advisory Teams:
    • Provide oversight over the determinatinon of FC-related policies and procedures.
    • Provide advice (typically via CFCC Advisory) to relevant stakeholders on compliance with Group standards and Singapore requirements relating FCC risks
  • Working in close partnership with CFCC FCC Case Investigation and Control Operationss:
    • Provide oversight over the determinatinon of FC-related policies and procedures.
    • Provide advice (typically via CFCC Advisory) to relevant stakeholders on compliance with Group standards and Singapore requirements relating FCC risks

People and Talent

  • Promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
  • Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.

Risk Management (select those that are relevant / applicable due to scale & volume)

  • Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management
  • Provide advice (typically via CFCC Advisory) on the application of risk management frameworks (e.g. ORF, GRA).
  • Apply Group and SG FC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
  • Make recommendations (and/or implement) to relevant stakeholders (typically via CFCC Advisory) on possible risk management responses to identified risks and/or findings of concerns from investigations.
  • Advise relevant stakeholders on outcomes of FC risks identification and assessment methodologies.
  • Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.

Governance

  • In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.

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.

Key Stakeholders (Singapore)

  • Regulators
  • Financial Intelligence Unit and Law Enforcement Agencies
  • CEO
  • CFCC
  • CPBB
  • CCIB
  • Audit
  • Legal
  • Regional and Group FCC
  • Peers in other banks / industry

Other Responsibilities

  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
  • 10+ Years in Compliance Policies and Standards – specifically, awareness of Singapore’s AML regulatory framework and regime, including MAS 626 and Notice TCA-N03
  • Manage Risk – specifically, the person is to cover Head of Singapore Financial Crime Compliance in the latter’s absence and hence, must have strong and proven risk management experience / exposure.
  • Customer focus – flowing from s/no 2, the candidate has to liaise with many stakeholders including seniors such as the Country Management Team.
  • Regulatory engagement with local regulators.
  • 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 excellent interpersonal skills and multi-cultural awareness and sensitivity.
  • Sound judgement 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
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.
Apply Here
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