Standard Chartered - Unit Head - Financial Crime Surveillance (10-20 yrs)
Unit Head Screening, Quality Control Outcome (QCO) Financial Crime Surveillance
Description - External
Role Responsibilities :
- In line with Group AAA procedures and appropriate Country Addendums, conduct robust Quality Control Outcome (QCO) reviews in a timely manner producing good quality assessments with appropriately calibrated Error classification (including error themes).
- Follow the AAA QCO processes, deploying sound analytical skills to produce balanced judgements, which are fully documented and clearly articulated.
- Maintain, develop and recommend (for approval by the relevant Risk Committee), appropriate policies / processes for Financial Crime Surveillance QCO and input into wider areas for FCSO where concerns/gaps are identified through QCO reviews.
- Ensure that the relevant DOIs and Guidance notes for QCO are up to date, in line with processes and procedures and clearly outline the operating framework, align to Functional DOIs and the associated regulatory requirements / Country Addendums.
- Support the Head of Risk & Quality Control to review existing assurance practices periodically and ensure that the QCO approach is always adequate and relevant.
- Propose control improvements, enhancements and simplifications where appropriate.
- Maintain independence (from FCSO Functions) and provide accurate and dependable on capabilities/processes of the FCSO and QCO processes.
- Contribute to continuous improvement by identifying and highlighting emerging error trends/ themes and providing analysis relevant to the specific workstreams and providing appropriate feedback.
- Lead and enable cross-functional collaboration to establish consistent standards for quality within the FCSO partnering with Functions as well as Country FCC to share knowledge and discuss best practice.
- Plan for resources and ensure smooth day-to-day operations of the QA teams reporting to you including regular reviews of capacity and output.
Risk Management :
- Escalate serious regulatory breaches, significant risks and issues arising from QCO activities (or where risk tolerances have been breached) through appropriate risk management mechanisms and forums.
- Ensure that actions are taken quickly to remediate and/or activities are ceased and all risks are clearly documented.
- Work continually to enhance the control environment within the QCO function. Highlight key risk areas, acting quickly and decisively when any risk and control weakness becomes apparent and ensure they are addressed within an appropriate timeframe and escalated through the relevant committees.
- Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management to be able to identify gaps through the QCO processes and reviews.
- Apply Group and FCC policies and processes (AML surveillance, client screening, risk assessment) to assess and mitigate risks.
- Engage with Regulators/ Monitors and Auditors as required providing timely and clear responses to any areas of observation or data requests.
- Plan and ensure a suitable level of readiness for Audit and Regulatory reviews.
- Instil good governance and tracking mechanisms within QCO including new joiner deployment (On the Job "OJT" templates), Supervisory checks.
- Propose control improvements, enhancements and simplifications where appropriate.
- Support all control checks undertaken by QCO under the Operational Risk Framework (ORF), and in line with relevant KCI/ CST requirements.
- Undertake specialist QCO reviews to test the validity and appropriateness of, and business compliance with, financial crime policies and procedures.
- Collate, analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and support in remediation actions within the FCC function.
- Proactively engage with appropriate stakeholders across the Group and within FCSU to resolve problems/ challenges.
- Collaborate with Country FCC teams and FCSO Functions to ensure consistent application of standards.
- Track significant issues arising from QCO activities, Audit/ Assurance reviews and regulatory inspections, providing validation of issue closure where necessary and ensuring Management Action Plans are regularly updated.
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 FCC QCO team to achieve the outcomes set out in the Bank's Conduct Principles
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Support relevant stakeholders to respond to regulatory questions.
- Comply with all relevant Country regulations / legislation documented in appropriate Country Addendums and DOIs.
People and Talent :
- Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
- 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.
- Collaborate with Function Teams and Surveillance Academy to input to training curriculums and appropriate guidance to support closing of capability gaps.
- Ensure the respective team is adequately resourced and staffed by an appropriate number of competent staff sufficiently independent to perform duties objectively, to support sustainable business growth and address financial crime risks.
- Ensure staff in the respective team have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions. Set clear job objectives and description for direct reports and monitor progress against desired objectives, provide timely feedback and reward best performers.
- Monitor the performance of all direct reports and the wider team in meeting agreed TATs and Quality Control expectations and proactively identify any key trends that indicate a deterioiration in team performance. Seek solutions to any issues identified that jepordize individual or team targets.
- Perform regular reviews of work completed by all direct reports as appropriate including the Supervisory check/ TL check on QCO output to ensure quality and address any performance/ training issues.
Project / Change management :
- Manage and protect business as usual (BAU) capability during change programmes, as well as during the execution and delivery of the Remediation initiatives through project phase and into BAU.
- Provide subject matter expert advice, guidance and support to the project managers on managing change.
- Review new business requirements and provide solutions where required.
- Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
- Resolve conflicts of interest arising from regulations and information security.
- Help ensure that there is adequate support (people, processes, tools, frameworks, systems) in QCO.
- Participate in strategic initiatives within the FCSO and with other key stakeholders such as Business, Country FCC, Group FCC and Surveillance Excellence.
- Help set and implement the vision, strategy, direction and leadership for QCO consistent with the vision and strategy for FCC and in support of the Group's strategic direction.
Key Stakeholders :
- FCC Controls representatives in Group, Region and Country
- Financial Crime Surveillance Operations Functions for Screening, Trade AML, RFI and SDM.
- Group Process Owner and associated support functions
- Risk Framework Owners
- Audit & Assurance
Other Responsibilities :
- Embed Here for good and Group's brand and values in QCO
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate: 10+ years of relevant work experience, ideally most which should be within the financial crime domain.
- Strong analytical skills including the ability to analyse, interpret and assess large volumes of data and make risk based evaluations and judgement.
- Decision making abilities, specifically to independently evaluate and assess information from a range of data sources to determine the appropriate risk based action and next steps.
- Strong communication skills to ensure decisions, narratives and outcomes are clearly documented in appropriate systems and messages are clearly communicated to stakeholders in appropriate forums.
- Knowledge of the Bank's Surveillance processes and systems including any detailed knowledge of Mantas detection scenarios, screening and watch lists.
- Good levels of regulatory knowledge around global / regional AML and Sanctions regimes.
- Good levels of risk awareness - including understanding of legal, compliance, operational, technology and using this knowledge within the QCO world.
- Solid stakeholder management experience to be able to engage, collaborate with and partner a broad range of stakeholders including regulators, auditors and internal senior managers.
- Ability to work independently, and to tight deadlines and within pressured environments.
- Specialist banking knowledge in terms of Country coverage, products and transactions is desired.
- Banking operations experience including KYC, payments, trade etc.
- Sanctions experience is desired for screening specific roles.
- Recent management experience of a large AML/ Sanctions Investigation team.