Head Compliance at Standard Chartered Bank

Job description

As a senior member of the Compliance function, make a significant contribution to the direction of the function in South Africa. Drive strategies and achievements in South Africa.

• 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 South Africa.
• To assist management procure that the bank operates to high standards of conduct and meet
• all regulatory and legal requirements
• all legal matters for and on behalf of the bank
• Establish and maintain frameworks within South Africa to ensure compliance with applicable banking regulations, internal policies, procedures and codes so as to protect the reputation of the Group with its regulators and balance the needs of other stakeholders.
• Identify, mitigate, monitor, manage and escalate, as appropriate, regulatory (including financial crime) risks in South Africa working with the Business Compliance teams. Provide a single interface for the CEO in South Africa for all Compliance issues.
• Build and maintain a Compliance team that operates consistently and is recognised internally and externally as amongst the best in the market.
• Ensure the effectiveness of the Group's management of compliance and regulatory risk issues by taking country responsibility and leadership for:
• Compliance and regulatory risk; and
• Financial crime risk.
• Maintain close and open relationships with the regulators in South Africa.

Key Roles and Responsibilities

• Risk anticipation and mitigation
• Drive practices for proactively identifying regulatory risks in South Africa and devise a plan to mitigate these and to prevent the occurrence of regulatory breaches.
• Ensure appropriate and effective risk based monitoring is conducted by Compliance in South Africa.
• Work with the Head Compliance, Southern Africa, to define the roles and responsibilities of staff in country to ensure greater focus on core activities designed to prevent and detect regulatory breaches.
• Drive the migration of best practice and lessons learned in South Africa, especially in relation to compliance with banking and financial services regulation and internal policies and procedures.
• Build standardised processes and develop tools to drive efficiency and standardization.
• Work with the Head Compliance, Southern Africa, to continue to improve MI for risk and governance forums and for Compliance leadership.
• Collaborate with Business Compliance in relation to risk identification and mitigation.
• Drive the use of the Speaking Up channels to detect actual or potential regulatory breaches.
• Fulfil the role of Risk Control Owner (as defined in Risk Management Framework) in relation to Regulatory Compliance Risk throughout South Africa. Ensure that residual risks remain within acceptable risk levels [1] by identifying material risks, maintaining an effective control environment and accepting or rejecting levels of residual risk in line with operational risk procedures.
• Oversee the implementation of Group Compliance policies and procedures through appropriate training and communication and, where necessary, recommend appropriate Compliance policies and procedures for approval by relevant committees. Support implementation of Business Compliance policies and procedures.
• Issues identification and management
• Ensure effective identification and management of compliance risks and issues in South Africa. Assume active involvement in problem-solving and crisis management over critical issues that have an impact on the Bank's business/operations in country.
• Working with Business Compliance where necessary, in the event of serious regulatory breaches or where risk tolerances have been breached, ensure Group, regional and country Senior Management are informed and that actions are taken quickly to remediate and/or activities are ceased.
• Advise the CEO and Country Operational Risk Committee on material Compliance issues as required and provide support to the country CEO on material compliance and regulatory risk issues to ensure they establish and monitor appropriate arrangements for meeting regulatory obligations and maintain high standards of conduct, in accordance with internal policies.
• Working with the Head Compliance, Southern Africa to support the Compliance leadership tea, in escalation and reporting of key compliance risks to the relevant forum.
• Escalate information on country regulatory developments and practices and breaches to the Head Compliance, Southern Africa.
• Regulatory relationships and regulatory reform
• Drive proactive regulatory engagement and ensure an effective Regulatory Relationship Plan is in place in South Africa.
• Develop and embed best practices around regulatory inspections.
• Participate in local regulatory reform agendas, including identifying and escalating regulatory reform proposals early, through participation in industry forums and membership of local Government Relations and Regulatory Reform Forums (or equivalents) and feeding into Business Compliance.
• Embedding the Regions structure
• Work with the Head Compliance, Southern Africa, to set and implement strategy for the management of performance, including financial performance and staff achievement in South Africa.
• Provide ideas and advice for solutions to achieve strategic objectives and help implement these through the country teams.
• Own and proactively manage the country's Compliance SSC budget.
• Ensure the function in South Africa is appropriately resourced by competent staff sufficiently independent in performing duties objectively.
• Provide leadership, management and coaching of the Compliance function in South Africa to ensure they are highly engaged and performing to their potential.
• Identify and develop talent and drive engagement across the team.
• Responsibilities exclude fraud-prevention and BCP/ Crisis Management and Operational Risk management.

Qualifications and Skills

• Legal Qualification with at least 5 years of experience in the regulatory field or equivalent regulatory environment.
• Speaks English and (and any local language as relevant) .
• A strong understanding of the regulatory environment in South Africa.
• Strong analytical skills.
• Good judgment enabling the provision of sound advice in difficult areas of law, regulation and practice and the proactive management of compliance and regulatory risk.
• Personal authority, integrity and ethics.
• An inquisitive approach to practices, procedures and specific transactions.
• Ability to manage and give leadership to subordinates across South Africa.
• Independence, robustness and resilience.
• Sharp business acumen, including the ability to assess risk.
• Strong leadership qualities, excellent inter-personal skills and multi-cultural awareness.
• Strong integrity, independence & resilience.
• Personal authority with proven ability to establish relationships and exert influence at senior levels of the Group and with regulators and other external stakeholders.

Diversity and 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.