Compliance Manager Job at Standard Chartered Zambia Job Description JOB PURPOSE Drive, coordinate and monitor initiatives and actions to ensure the Bank operates in accordance with the relevant laws and regulations, policies and standards including those relevant to the prevention of money laundering. KEY RESPONSIBILITIES Regulatory Risk Identification and Policy Setting • Leads in the identification of material regulatory risks in-country through measured analysis of factual scenarios and / or documentation. • Anticipates, assesses and communicates key regulatory risk trends in-country, for management consideration, and drives the development and implementation of appropriate mitigation control measures. • Identifies new banking regulations and laws and ensures the implications are appropriately notified to all relevant parties. Regulatory Relationship Management • Manages and develops the relationship with the country’s Regulator, along with the Country Head of Compliance, according to the Regulatory Relationship Plan. • Builds trust through meeting regulatory commitments and having regular briefings with regulators. • Ensures the Bank is properly prepared for Regulatory inspections and coordinating the response with the business. • Support FCR in acting as the Bank’s single point of contact for inquiries related to SARs or investigations. Maintain a good working relationship with the relevant authorities, regulatory bodies and enforcement agencies (e.g. Central Bank, Financial Intelligence Unit , Police, etc). • Supports FCR Operations on SARs and related investigations. Regulatory Advice • Provides timely regulatory advice and recommendations on key issues (including on Prudential Regulation, in partnership with Finance and Risk Functions) and proactively monitors regulatory developments. • Provides guidance on proper application and interpretation of banking laws, regulations and policies applicable to the country. • Ensure AML regulations, policies and requirements are clearly communicated to management and staff members • Set control standards and provides advice on the development of appropriate controls for the mitigation of regulatory risks. • Assists in overseeing relevant administration and licensing as required by the local regulatory requirements. Regulatory Compliance Training • Delivers or procures delivery of a program of activities that educates and encourages managers and staff to operate in compliance with relevant laws, regulations and policies. Such training would include key group compliance and regulatory issues, for example Outsourcing, Senior Management Responsibilities and Code of Conduct. • Manage, coordinate and deliver appropriate training programme to ensure staff members are sufficiently trained to apply and administer AML related controls in their day to day business activities. • Assists in the development of an effective country-wide compliance culture by promoting the benefits of ethical business conduct and the benefits of compliance. Compliance Monitoring • Establishes and coordinates the risk-based Compliance Monitoring Plan to include: relevant ORA, business specific compliance reviews, other functional compliance reviews, routine checks and approvals. • Coordinates and performs Regulatory Compliance Reviews in businesses and functions. • Ensures all Control Room procedural requirements are met, including PDRs and disclosure requirements. Compliance Reporting • Prepares regular and accurate reports that demonstrate understanding, provide clear analysis and are escalated to the relevant risk managers and governance bodies. • Handles ad hoc enquiries and surveys as requested by the regulators from time to time. • Reporting to Country, Group and management on the country overall AML status. This includes reporting of AML metrics, trends and risks (both existing and emerging) for management actions and decisions. Compliance Business Partnering • Uses general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions, and to keep the local regulator updated on developments in the businesses. • Assists the Country Head of Compliance and Senior Management in ensuring that the Bank and its subsidiaries operate in accordance with the relevant local requirements and Group regulatory compliance standards, so as to protect and enhance the reputation of the Bank. • Assist country management to ensure internal resources, systems, procedures and controls are in place, documented and operating effectively in order to mitigate money laundering risk. Co-ordinates implementation of country level programmes and initiatives to enhance AML awareness and effort. • Provides support to business in complying with the new and changing regulations, as well as group policies and standards. • Proactively drives the development and maintenance of good relationships with internal and external stakeholders at appropriate levels ensuring an open and cooperative environment. • Ensures close working relationship with the business, operational risk and FCR resources and ensures that there is a clear delineation of duties and responsibilities among various parties. Key Roles & Responsibilities KEY RESPONSIBILITIES Regulatory Risk Identification and Policy Setting • Leads in the identification of material regulatory risks in-country through measured analysis of factual scenarios and / or documentation. • Anticipates, assesses and communicates key regulatory risk trends in-country, for management consideration, and drives the development and implementation of appropriate mitigation control measures. • Identifies new banking regulations and laws and ensures the implications are appropriately notified to all relevant parties. Regulatory Relationship Management • Manages and develops the relationship with the country’s Regulator, along with the Country Head of Compliance, according to the Regulatory Relationship Plan. • Builds trust through meeting regulatory commitments and having regular briefings with regulators. • Ensures the Bank is properly prepared for Regulatory inspections and coordinating the response with the business. • Support FCR in acting as the Bank’s single point of contact for inquiries related to SARs or investigations. Maintain a good working relationship with the relevant authorities, regulatory bodies and enforcement agencies (e.g. Central Bank, Financial Intelligence Unit , Police, etc). • Supports FCR Operations on SARs and related investigations. Regulatory Advice • Provides timely regulatory advice and recommendations on key issues (including on Prudential Regulation, in partnership with Finance and Risk Functions) and proactively monitors regulatory developments. • Provides guidance on proper application and interpretation of banking laws, regulations and policies applicable to the country. • Ensure AML regulations, policies and requirements are clearly communicated to management and staff members • Set control standards and provides advice on the development of appropriate controls for the mitigation of regulatory risks. • Assists in overseeing relevant administration and licensing as required by the local regulatory requirements. Regulatory Compliance Training • Delivers or procures delivery of a program of activities that educates and encourages managers and staff to operate in compliance with relevant laws, regulations and policies. Such training would include key group compliance and regulatory issues, for example Outsourcing, Senior Management Responsibilities and Code of Conduct. • Manage, coordinate and deliver appropriate training programme to ensure staff members are sufficiently trained to apply and administer AML related controls in their day to day business activities. • Assists in the development of an effective country-wide compliance culture by promoting the benefits of ethical business conduct and the benefits of compliance. Compliance Monitoring • Establishes and coordinates the risk-based Compliance Monitoring Plan to include: relevant ORA, business specific compliance reviews, other functional compliance reviews, routine checks and approvals. • Coordinates and performs Regulatory Compliance Reviews in businesses and functions. • Ensures all Control Room procedural requirements are met, including PDRs and disclosure requirements. Compliance Reporting • Prepares regular and accurate reports that demonstrate understanding, provide clear analysis and are escalated to the relevant risk managers and governance bodies. • Handles ad hoc enquiries and surveys as requested by the regulators from time to time. • Reporting to Country, Group and management on the country overall AML status. This includes reporting of AML metrics, trends and risks (both existing and emerging) for management actions and decisions. Compliance Business Partnering • Uses general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions, and to keep the local regulator updated on developments in the businesses. • Assists the Country Head of Compliance and Senior Management in ensuring that the Bank and its subsidiaries operate in accordance with the relevant local requirements and Group regulatory compliance standards, so as to protect and enhance the reputation of the Bank. • Assist country management to ensure internal resources, systems, procedures and controls are in place, documented and operating effectively in order to mitigate money laundering risk. Co-ordinates implementation of country level programmes and initiatives to enhance AML awareness and effort. • Provides support to business in complying with the new and changing regulations, as well as group policies and standards. • Proactively drives the development and maintenance of good relationships with internal and external stakeholders at appropriate levels ensuring an open and cooperative environment. • Ensures close working relationship with the business, operational risk and FCR resources and ensures that there is a clear delineation of duties and responsibilities among various parties. Qualifications & Skills • Product Knowledge - Knowledge of business areas and their products and the relevant regulatory and legal requirements that apply. • Governance and Legal Structure - Knowledge of the system of internal controls that enables effective management of the affairs of the Group locally. Detailed knowledge of local risk reporting and governance/ management structures, and the regulatory and legal obligations of country management. • Interpretation & Regulatory/ Policy Advisory Guidance – The ability to identify and assess relevant laws and regulations to provide solutions to business needs. Detailed knowledge of local laws and regulations including: an ability to anticipate future regulatory requirements based on thorough research; a thorough knowledge of Group policies and how they apply to the local market environment; an ability to offer considered practical and cost effective solutions to ensure regulatory compliance. • Governmental and Regulatory Relationships – The ability to manage the relationship with relevant government and regulatory stakeholders, to understand their concerns and influence them to effectively manage our external operating environment. A good operational knowledge of the processes and procedures involved in the maintenance and enhancement of the Regulatory Relationship Plan. The strategic ability to influence local regulators through effective communications of our business intent. • Products and Services Delivery - Knowledge of local regulations, Group and business policies and procedures as they apply to local business products. Knowledge of local and regional/global (where appropriate) regulatory developments and understanding of how these affect local delivery of products and services. High-level of understanding of the products and services of the Bank. • AML Advisory - Achieve compliance with local AML regulations and Group AML policies and standards. Timely identification and mitigation of significant risks. • Business management – Ability to make balanced commercial judgments and provide pragmatic solutions. Ability to drive efficiencies and innovation in achieving objectives. Good relationship and customer management skills. • Other specific measurement criteria set out in the annual Job Objectives. Diversity & Inclusion Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential. APPLY
Posted on: Fri, 14 Nov 2014 14:01:11 +0000
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