Head – Financial Crime Compliance
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:
Strategy
- Set and implement the FCC Vision, strategy, direction and leadership for Tanzania, consistent with the Group / Regional vision and strategy for FCC in support of the Group’s Strategic direction and growth aspirations.
- Design and own Country FCC Target Operating Model for Tanzania.
- Ensure that there is adequate support (people, processes, tools, frameworks, systems) in Tanzania for necessary FCC Controls.
Business
- Analyse Comprehensive impact of financial crime related regulatory matters on the relevant business area and its operations.
- Ensure that key changes (to laws, rules, regulations) are communicated and cascaded in Tanzania, coordination with group communications.
- 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 FCC.
- Support resolution of competing requirements between regulations, for example between AML regulations and data privacy / bank secrecy or information security regulations.
Processes
- Develop, keep up to date and recommend of approval by the relevant Risk Committee, appropriate policies, processes/DOIs to address financial crime risks, aligning with relevant regulatory requirements.
- Providing governance and oversight over the implementation of FCC related policies and procedures in Tanzania to ensure compliance with such policies and procedures.
- Act as Process Owner for FCC owned (sub-) processes (sub-) under the Group’s Risk Management Framework, including implementation and rollout of relevant processes and DOIs.
- Provide advice to relevant stakeholders on compliance with Group Standard relating to AML/Sanctions/ABC in conjunction with CFCC Business Advisory teams.
- Act as (Second line) Risk Control Owner under the Group‘s Rick Management Framework for those aspects of Regulatory Compliance relating to AML/Sanctions /ABC, and escalate issues as appropriate in conjunction with CFCC Business Advisory teams.
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 complaint 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 training terms to input to training curriculum to support closing of capability gaps.
- Develop communications strategies and plans that deliver timely and relevant messages to the right stakeholders through appropriate activities and channels.
- Ensure FCC Tanzania 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 FCC staff in Tanzania have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.
Risk Management
- Maintain oversight of risk mitigating action plans.
- Ensure the suitability and quality of case data maintained on enterprise case management systems.
- Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transactions Screening AML Monitoring and Case Management
- Ensure that detection scenarios that are developed and deployed are fit for purpose
- Establish and maintain watch lists used for customer and transactions screening and various other due diligence and investigative purposes (local/regional internal and external)
- Provide advice on the application of risk management frameworks (eg. FC RTF, GRA)
- Apply Group and FCC Policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
- Make recommendations (and /or implement) to relevant stakeholders on possible risk management responses to identifies risks and /or findings of concerns from investigations.
- Assess risks arising from products /segments /geographies/customs /transactions.
- 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 in the area of financial crime that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks.
- Identify intelligence for typology studies and risk mitigation plans.
- Conduct Country risk assessment.
- Map risks, quantify the potential impact and escalate where necessary.
- Advise relevant stakeholders on outcomes of AML/sanctions /ABC risks identification and assessment methodologies.
- Deliver/support delivery of annual Global AML, ABC and Sanctions Risk Assessments.
- Partner with legal counsels for advice for technical matters
- Conduct a root cause analysis on the control/ other failures to ensure lessons are learned across the bank.
- Provide intelligence (to internal forums) on specific clients, client-types and emerging risk typologies.
- Provide intelligence inputs to support calibration of bank’s Risk Methodologies (including aggregate client risk, product risk and Country risk assessments.
- Oversee the review and analysis of the client base to identify and manage risk clients, or specific country reviews.
Governance
- Attend relevant leadership meetings.
- Provide (or support) senior oversight of FCC Tanzania function.
- Ensure tracking and remediation of surveillance and investigations related regulatory findings.
- 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.
- Prepare and cascade lessons learned from audit findings, FCC assurance activities and specific investigations.
- Track significant issues arising from FCC Metrics, FCC Assurance Activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
- Propose control improvements enhancements and simplifications where appropriate.
- Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
- Collarate, analyse and interpret data in reports to senior management and relevant governance /risk committees.
- Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk /vulnerability and thus drive remediation action with the FCC function.
Project /Change Management
- Act as accountable executive for key FCC change programmes.
- Lead or influence significant programme of work in support of the financial crime compliance objectives.
- Review new business requirements and provide solutions where required.
- Provide skilled resources to support project /programme delivery.
- Manage and protect business as usual (BAU) capability during change programmes, as well as during the execution and delivery of the Remediation initiative’s through project phase and into BAU.
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 Tanzania team to achieve the outcomes set out in the Bank’s Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
- Effectively and Collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
- Represent the bank through relationships with key regulators, relevant industry and vendor / user groups.
- Support relevant stakeholders to respond to regulatory questions.
ABC Lead
- Communicate ABC Policy and related Procedures to staff.
- Identify additional and/or stricter country ant-bribery regulatory or legal requirements.
- Where required, prepare country addenda to ensure compliance with local anti-bribery laws and regulations.
- Ensure all relevant staff are trained in the requirements of this Policy and related country anti-bribery addenda and that this training is updated when required by developments and changes in local law and regulations related to ABC.
- Oversee and monitor the implementation of this Policy and its associated Procedures; including documenting any gaps between Group standards to local procedures / local regulatory requirements.
Key Stakeholders
- Relevant Local Regulators
- CEO, Tanzania
- Heads of Businesses and Functions
- Cluster / Regional FCC Management
- Risk
- GIA
Other Responsibilities
- Embed “Here for Good” and Group’s brand and values in the FCC Tanzania team.
- Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
QUALIFICATIONS:
- At least 5 years of experience in risk, governance, financial crime compliance or related areas.
- A strong understanding of the regulatory environment in Tanzania.
- Strong analytical skills, and confidence in interrogating data, processes and interviewing stakeholders.
- Takes responsibility, ownership and accountability for own tasks and work output.Strong integrity, independence, robustness and resilience.
- Able to interpret and communicate clearly to the business the application of relevant rules and regulations and to engage all relevant stakeholders
- Sharp business acumen, including the ability to assess risk.
- Strong leadership qualities, excellent inter-personal skills and multi-cultural awareness.
- 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.
- The deadline for submitting the application is 18 April 2021
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