Regulatory Affairs Role - Sanctions - Risk & Compliance

We are Hiring for the role of Manager - Sanctions GSC's

Location: Bangalore.

Why join us?

The jobholder is required to deal with issues for which there is no clear cut solution while still being able to provide judgement and clear direction. Where items of major consequence are involved, reference is made to the SGH Head of Sanctions / SGH Head of FC. The nature of the role requires close working contact with SGH FC Reps of the businesses and subsidiaries.

The Opportunity:

Role Purpose (overall high level summary of the role)

- Monitor Trade, Economic and Financial Sanctions (including sanctions programs administered by the U.S. Office of Foreign Assets Control, United Nations, European Union and HM Treasury's Financial Sanctions, (collectively referred to herein as "Sanctions"), and global risk management framework to meet legislative and regulatory requirements in Singapore.

- Collate and prepare relevant FC Sanctions MI, governance committee submissions, and reports and submit such information as required to relevant stakeholders and governance committees from Compliance and LoB at SGH and ASP levels.

- Assist SGH Head of Sanctions in providing oversight and management, of all aspects of Financial Crime Risk on Sanctions including discharge of risk stewardship responsibilities, preparation and review of applicable risk metrics, and impact analysis of regulatory changes within Singapore.

- Collate potential breaches of sanctions from across the business lines & subsidiaries in Singapore, report management and escalate to Head of Sanctions.

- Stay at the forefront of key regulatory changes to ensure proactive communication with business and implement appropriate policy and framework to manage the changes.

- Provide advice, as assigned by the SGH Head of Sanctions on an adhoc basis, to business across Singapore on sanctions risk associated with prospective business, products and service and design mitigation controls and implement strategies as appropriate.

Impact on the Business:

- Implement and drive Group communications strategy, for standards, systems and policies in relation to Sanctions for Singapore.

- Identify, assess, oversee and communicate all requirements relating to legal guidance and sanctions evasion trends in relation to risks presented through business activities across SGH and its subsidiaries.

- Collate and prepare FCR MI and other sanctions MI/metrics and reports as required by Country FRCMC, ASP Sanctions, and other stakeholders as applicable, and ensure such MI/report submissions are on-time and accurate.

- Support and facilitate a strategic coordination and implementation of an effective Sanctions controls framework within SGH and its subsidiaries.

- Manage the required remedial action of all material FC sanctions issues that arise to ensure effective implementation through internal and external reviews.

- Develop training on Sanction risks for all business products, services and geographies across SGH and subsidiaries.

- To develop and implement programmes to quantify impacts and implement actions to address, manage and mitigate impacts of sanctions risk embedded in client activity.

- Implement, as required, Group sanctions policies and systems Singapore that ensure that business exposure to financial crime and reputational risks is managed, in a practical and effective manner, including efficient and reasonable deployment of resources and an understanding of the business operations and needs.

- Applicable standards, policies and procedures developed and implemented.

- Ensure that standards, policies and procedures meet regulatory needs and are clearly understood by stakeholders.

- Timely and accurate submission of relevant FCR MI and reports as required.

- Track the strategic implementation of an effective Sanctions controls framework.

- Periodic reviews and ongoing monitoring activity adopted consistently with agreed plans and timescales.

- Competently apply legislation to the risks associated to the business in terms of products/service in Singapore in accordance to FIM and Global Sanctions Policy.

- Clear, accurate and timely advice provided.

- Adverse consequences arising from FC Sanctions breaches/issues are managed, mitigated, reported and tracked, with remedial action initiated in line with the materiality of the risk/issue.

- Communication of clear training requirements. Regular reviews and ongoing monitoring activity to ensure completion of required training.

- Controls are established to ensure policies are being complied with.

Customers/Stakeholders:

- Liaise with relevant stakeholder within SGH Business and Functional teams to provide expertise and support on all Financial Crime Sanctions related matters

- Support the SGH Head of Sanctions & SGH Head of FC in the provision of reports on Sanctions issues.

- Good knowledge of products, segments and business strategy to support business growth accordingly

- Clear direction/advice/guidance given in a timely manner.

- Provide content to regular committee reports within agreed timescales.

Leadership and Teamwork

- Work effectively with the various SGH Reps of FC for each business lines/ subsidiaries to ensure consistency across the FC functions.

- Maintain and develop positive and professional working relationships with business managers at the Country/ Business line levels.

- Provide assistance to develop, set and deliver the Group Sanctions overall strategy in Singapore.

- Maintain contact and consult with other FC Reps.

- Demonstration of Group Values in all behaviours.

- Contact maintained with key business heads both in FC and in the SGH / Global Businesses to update them on compliance developments, when appropriate.

- Strategies and policies to be communicated clearly and in a timely manner, in conjunction with other FC heads.

Operational Effectiveness and Control:

- Provide and adapt solutions to complex global issues/initiatives in an ever changing, high-risk environment.

- Monitor the implementation of FC Sanctions controls.

- Ensure all GSM, FIMs, BIMs and dispensations, etc. are updated for changes in Country Regulation and impacts on business.

- Maintain awareness of operational risk within assigned portfolio and minimise the likelihood of it occurring including its identification, assessment, mitigation and control, loss identification and reporting.

- Maintain and observe all control standards and implement, cascade and observe the Group Compliance Policy, including the timely implementation of recommendations made by internal/external auditors and external regulators

- Clear risk-based policies/advice produced.

- Compliance plans in place across the FC function to agreed timescales.

- Any significant Sanctions compliance issues reported appropriately and in a timely manner.

What you'll do:

Major Challenges:

- To take the complexity of the regulations on the one hand, and the diversity of business and geographies within Singapore, and achieve a balance between the demands of the regulators, external bodies and governmental initiatives and the Group's shareholders and customers; highly aware of the political, management, operational, regulatory and reputational implications of particular decisions and courses of action; assisting senior management in development of controls and systems and influencing the way in which business is conducted in order to manage these risks.

- The incumbent is required to ensure the consistent application of the highest Risk management standards notwithstanding the complexities of products and business operations across Singapore. Risk is forward looking. The incumbent would implement change programmes to ensure that the FC Sanctions remains in line with regulatory requirements across SGH and its subsidiaries. A balance must be maintained between the local, Regional and global priorities. The incumbent would need to balance between sometimes conflicting needs and priorities of different teams within Risk departments and across countries.

Management of Risk

- The jobholder is responsible for ensuring that the FC Sanctions standards are in accordance with the Group Standards Manual at local levels and that the Sanctions policy aspects of the Legal & Compliance FIM are effective and relevant.

Observation of Internal Controls:

- Maintains internal control standards, including timely implementation of internal and external audit points together with any issues raised by external regulators.

- Jobholder is an 'insider' for dealing purposes and subject to strict controls and confidentiality.

- Jobholder is required to manage FCC responses to adverse compliance metrics, including unsatisfactory FCC Reviews and Audit reports.

- This will be achieved by adhering to all relevant processes/procedures and by liaising with Financial Crime Compliance department about new business initiatives at the earliest opportunity. Also and when applicable, by ensuring adequate resources are in place and training is provided, fostering a compliance culture and optimising relations with regulators.

- The jobholder will also adhere to and be able to demonstrate adherence to internal controls. This will be achieved by adherence to all relevant procedures, keeping appropriate records and, where appropriate, by the timely implementation of internal and external audit points, including issues raised by external regulators.

Qualifications - External:

What you will need to succeed in the role:

- Degree holder with experience in financial crime risk compliance roles, ideally to include Sanctions experience.

- Knowledge of Sanctions regulations and guidance.

- Added advantage with certification from International Compliance Association (ICA) or Association of Certified Anti-Money Launderying Specialist (ACAMS))

- Relevant experience in the financial services industry.

- Lateral thinker with an ability to interpret and solve complex issues.

- Excellent communicator with strong inter-personal and influencing skills.