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ROLE Business Title : Director, Compliance, GBS Grade : Grade 5 Business Unit : Standard Chartered Global Business Services Job Family : Compliance Management Location : Malaysia, India
REPORTING RELATIONSHIPS Reports directly to: Head, Compliance, GBS In the event of OCIR requirements, this role will report indirectly to Global Head, GBS Matrix Report to: TBC Direct reports: TBC Dimension : § Budget : Budgetary responsibility for Programme § Staff : none § Delegated Authority Levels : US$ for General Overheads and business expenditure § Board appointments : Nil § Committee appointments : Nil § Regulated role : TBC
PURPOSE: (Please explain succinctly the reason for existence of the role) · As a senior member of the function make a significant contribution to the direction of the Compliance function in GBS. · Promote, lead, and manage the culture and practice of Compliance within regulatory requirements and ethical standards consistent with supporting the Group's strategic direction and growth aspirations in GBS. · Provide functional leadership and strategic direction where necessary to embed a high performance culture within the GBS Compliance function · Establish and maintain frameworks within GBS to ensure compliance with applicable banking regulations, internal policies, procedures, and codes to protect the reputation of the bank with its regulators and balance the needs of other stakeholders. · To identify, mitigate, monitor, and manage regulatory (including financial crime) risks across GBS globally. · Ensure the effectiveness of the Group's management of Compliance and Regulatory Risks for GBS. · In partnership with Country Compliance, maintain close and open relationships with the regulators in GBS locations.
RESPONSIBILITIES Strategy · Oversee the implementation of the SCB Group Compliance methodology (encompassing risk identification, assessment, monitoring, training and product / business advice). · Drive and implement the vision, strategy and direction set by Group Head GBS and Group Head Compliance for the Compliance Function overseeing GBS, and align it with the broader strategic agenda of the Group and GBS. Business · Analyse comprehensive impact of Compliance matters on the relevant business areas and their operations. · Ensure that key changes (to laws, rules, regulations) are communicated and cascaded, in coordination with Group Communications. · Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends. · Ensure appropriate advice is provided to the relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices, and policies related to Compliance.
Processes · Recommend for approval by the relevant Risk Committee, appropriate policies / processes / DOIs to address Compliance risks, aligning them with relevant regulatory requirements. · Provide support and challenge to the Management team to ensure that they established and monitor appropriate processes for Compliance with compliance policies, procedures, and standards (including meeting regulatory obligations and maintaining high standards of conduct). · Provide governance and oversight over the implementation of Compliance-related policies and procedures in GBS to ensure compliance with such policies and procedures. People and Talent · Ensure the holders of all critical functions are competent, suitably skilled and qualified for their roles. · Access competency and skillset of the team on an ongoing basis to ensure alignment to the risk management demands, and ensuring the team have effective supervision in place to mitigate any risk.
Risk Management · Identify and assess sources of regulatory risks and ensure that systems and controls are appropriate to mitigate and manage risks within acceptable risk tolerance levels. Report on material regulatory, compliance risks. · Maintain oversight of risk mitigation action plans. · Inform senior management and relevant regulators of serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and/or activities are ceased. · Anticipate horizon risks that may have a significant impact to the Group and develop effective strategies to mitigate such horizon risks.
Governance · Ensure lessons learned from audit findings, Compliance assurance activities and investigations are prepared and cascaded to relevant stakeholders. · Support the product programmes and country / GBS addendum framework.
Regulatory relationships and Regulatory change · Execute and implement functional best practices around regulatory inspections. · Ensure proactive and timely identification, assessment, advice, and dissemination in accordance with the respective Group framework, of evolving regulatory changes / practices and associated risks in and relating to GBS. · Ensure proactive engagement in regulatory reform, including ensuring identification and escalation of regulatory reform proposals, participation in local internal regulatory relationship and reform forums and memberships of local external industry forums.
Exclusions · For clarity areas for control and oversight excluded from responsibilities include: · Fraud-prevention · BCP/crisis management · Conduct of business matter outside GBS · First line assurance (except processes owned by Compliance) · Second line rules based assurance activity of any process not directly related to regulatory risk · All prudential related matters KNOWLEDGE, SKILLS AND EXPERIENCE · Relevant undergraduate degree, ideally with more than 15 years' relevant experience in Compliance, Internal/External Audit and/or Operational Risk Management. · Good understanding of Law and Technology is an advantage · Able to work under broad direction but is a self-motivated individual who is able to work independently; has technical responsibility and accountability for work performed and decisions taken · Substantial experience in managing compliance and regulatory risks. · Experience in the financial services industry. · Ability to travel as this role has a pan-GBS responsibility.
Leadership Competencies Leadership Level (refer to Leadership Competency Framework ) Spot opportunities Function Manager Solve problems Function Manager Take the Lead Function Manager Build Resilience Function Manager Collaborate Function Manager Communicate Function Manager Deliver Sustainability Function Manager Achieve Results Function Manager Technical Competencies Target Proficiency Level Compliance policies and standards Core Compliance Advisory Core Compliance review and FCC Assurance Core Surveillance Core Investigations Core Compliance Risk Assessment Core Regulatory Liaison Core Manage change Core Manage Projects Core
This Job Description should be read in conjunction with the relevant terms of reference, the Group's Governance Manual which sets out responsibilities for establishing, maintaining, and implementing the Group's high level systems and controls, policies and procedures, and the jobholder's contracts of employment. The jobholder acknowledges that he / she has understood and will abide by the responsibilities set out in the Governance Manual as well as ensure compliance with Group Code of Conduct, and the local regulators Statements of Principle and Code Practice for Regulated roles.
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Internal Number: 5615761
About Standard Chartered Bank Malaysia Berhad
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