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The Global Regulatory Reform team reports into the Group Head of Compliance. The team has staff based in Singapore, London and New York. The remit of the team covers the global regulatory agenda; pan-regional regulatory initiatives; regulations emanating in key markets that are extra-territorial in reach; and those UK prudential and conduct regulations that apply to the SCB Group.
The Global Regulatory Reform team uses subject matter expertise to promote awareness and understanding of new regulations for the Group. On reforms the team identifies, analyses and manages a forward agenda of regulatory proposals and advises all affected global business and control functions. The team assists affected business units in performing front-to-back impact assessments and implementing policies, procedures and controls necessary to position the Bank to adapt to regulatory change. Together with front office stakeholders, and especially Public Affairs, the team also delivers targeted advocacy on material regulatory initiatives affecting the Group.
The team is organised internally into three branches organised around regulatory themes: markets and conduct; prudential and resolution and regulatory strategy. Global Regulatory Reform also has a branch dedicated to assessing the impact of regulations on SCB and the post-holder will be expected to work closely with the assessment branch. This position sits within the Assessments branch and is expected to support execution of the branch strategy and priorities while working closely with the other branches.
The Assessments branch is focused on helping to optimize decision-making regarding new, material regulatory policies. By analysing the impacts for SCB, the Bank can be better positioned to strategically adapt to regulatory change (eg via lobbying strategies and/or internal decisions and actions).
This London-based position is to lead and contribute to the execution of strategic impact assessments which will involve analysis of regulatory policies, engagement with business and function stakeholders, preparation of reports and papers with findings and recommendations.
Key Roles and Responsibilities
Identify the forward agenda of new regulatory proposals that need to be assessed
Working across the Global Regulatory Reform policy branches, businesses and infrastructure functions, pull together a work-plan for future assessments.
Agree the timing of assessments with business and infrastructure functions to ensure buy-in and to allow the smooth running of any SCB-wide group that will be required to consider any implications and recommendations.
Work with all business and infrastructure functions which are potentially affected by the changes to ensure meaningful impact assessments of material new regulatory proposals
Develop assessments in partnership with impacted business and infrastructure functions and in conjunction with the subject matter experts within Global Regulatory Reform.
The assessments should not only consider regulations with adverse capital consequences or revenue impacts, but also regulations that raise complex or cross-border implementation issues, are likely to be costly to implement or for which ultimate ownership is unclear.
Develop draft recommendations on behalf of SCB to support strategic decision making.
Foster and embed best practice for implementation projects, including through raising awareness of regulation assessments and their importance across SCB.
Ensure the smooth running of any Group wide discussions via forums that consider the impacts of new regulatory policies
Ensure that any Group-wide discussions are well informed in advance, including with respect to any impact concerns.
Ensure any forum is very well organised in terms of the agenda, timely distribution of papers, minutes etc.
Contribute to and support the execution of Global Regulatory Reform priorities
Gain necessary support from management and foster and embed proactive, strategic and holistic approaches to the management of regulatory reforms.
Contribute to and help develop and refine team products, including the production and delivery of daily regulatory briefings, monthly updates on key reforms, and targeted advocacy materials.
Provide training to staff on relevant regulatory reform matters.
Support development and execution of policies, processes and tools to ensure effective implementation of regulatory reform frameworks.
Develop awareness and understanding of the Bank and the wider business and economic environment in which it operates
Develop knowledge of evolving Bank strategy, businesses and structure. Apply knowledge to analysis and interpretations of regulatory reform matters.
Develop detailed understanding of wider and evolving regulatory, business and economic environments in which the Bank operates in order to provide advice and guidance to key stakeholders.