Associate Principal, CFCC Governance, South Africa at Standard Chartered Bank

Role Responsibilities 

Strategy

• Support CFCC to proactively develop regulatory relationships with regulators in Country through a structured engagement programme with consistent adherence to regulatory expectations.
• Help ensure that Standard Chartered Bank's operations in South Africa are in line with regulatory expectations and Group requirements.
• Support the Country Head of CFCC and Country Head of FCC to set and implement the vision, strategy, direction and leadership for South Africa, consistent with the vision and strategy for CFCC and in support of the Group's strategic direction and growth aspirations.
• Promote the culture and practice of compliance with compliance standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.

Business

• Support CFCC to ensure that key changes (to laws, rules, regulations) are communicated and cascaded (in country), in 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, regulations, laws, best practices and policies related to CFCC
• In conjunction with the relevant stakeholders, analyse the impact of regulatory compliance matters on the bank and its operations.
• Anticipate, assess and communicate key regulatory risk trends in Country for management consideration and drive the development and implementation of appropriate mitigation control measures.
• Work with Advisory specialists to respond to regulatory questions and keeps the in-Country regulators updated on developments in the Bank’s business

Processes

• Develop, keep up to date and recommend for approval by the relevant Risk Committee, appropriate policies / processes / DOls to address CFCC, aligning with relevant regulatory requirements.
• Work with the Country Head of CFCC, Governance to manage and develop the relationship with the regulators in accordance with the Regulatory Relationship Plan.
• Assist in building trust through meeting regulatory commitments and having regular briefings/engagement with regulators.
• Help ensure the Bank is properly prepared for regulatory inspections and coordinating responses with the business.
• Providing governance and oversight over the implementation of CFCC related policies and procedures in Country to ensure compliance with such policies and procedures.
• Provide advice to relevant business & functions stakeholders on compliance with Group standards & regulatory matters relating to CFCC.
• Proactively monitor regulatory developments to manage the regulatory impact of complex regulatory matters on the Bank's business and its operations
• Provide guidance on the proper application and interpretation of banking laws, regulations and policies applicable in Country.
• Set control standards and provide advice on the development of appropriate controls for the mitigation of regulatory risks.
• Assist in overseeing relevant administration and licensing and required by the in-Country regulatory requirements.
• In the event of serious regulatory breaches, or where risk tolerances have been breached, assist in critical workstreams in order to ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
• Track significant issues arising from CFCC metrics, Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
• Prepare and cascade lessons learned from audit findings, assurance activities and specific investigations.
• Support all control checks undertaken by CFCC under the Operational Risk Framework (ORF).
• Implement quality assurance standards and workflows for the CFCC processes.
• Co-ordinate/support the management of internal/ external audits and regulatory/ supervisory inspections.

People and Talent

• Promote a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant 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.
• Support the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Lead through example to support the appropriate culture and values. Work in collaboration with risk and control partners.
• Assist the Country Head of CFCC, Governance to set and establish team objectives and priorities through discussions with relevant stakeholders, supporting the team to work effectively and proactively with business compliance and other support function teams to manage CFCC risks.

Risk Management

• Ensure issues identified are escalated are logged in the Bank’s risk management platforms (eg M7) with appropriate action plans set within escalation timelines.
• Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
• Apply Group and CFCC policies and processes to manage risks.
• Ensure that Country Addenda to CFCC policies/ standards are reviewed periodically.
• Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.
• 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.
• Conduct country risk assessments as applicable, eg Global Risk Assessment (GRA) and Compliance Risk Assessment (CRA), as well as other ad hoc reviews or assessments as deemed necessary by the Country Heads of CFCC and FCC
• Map risks, quantify the potential impact and escalate where necessary.
• Support delivery of annual Global Compliance, AML, ABC and Sanctions Risk Assessments.
• Provide intelligence inputs to support calibration of bank's Risk Methodologies (including aggregate client risk, product risk and country risk assessments).
• Ensure the Bank is properly prepared for, routine regulatory exams, audits and supervisory inspections, as well as to managing the response from the business.
• Provide input and support in respect of regulatory reporting requirements and submissions as directed by the Country Heads of CFCC and FCC.
• Help support key change programmes and projects for Country CFCC

Governance

• Attend relevant governance meetings/ forums as delegated by the Country Heads of CFCC and FCC.
• Represent the Bank at relevant industry forums/ associations as delegated by the Country Heads of CFCC and FCC.
• 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.
• Periodic reporting and timely escalation of significant risks and issues arising from CFCC Monitoring and Assurance activities.
• Support the identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
• Collate, 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 within the CFCC function.
• Support and co-ordinate significant programmes of work in support of the CFCC initiatives and projects.
• Proactively drive the development and maintenance of good relationships with internal and external business stakeholders at appropriate levels ensuring an open and cooperative environment.

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.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Support relevant stakeholders to respond to regulatory questions

Key Stakeholders

• Country Head FCC
• Country FC Controls
• Relevant Country/Group process owners for CFCC processes
• Country and AME Regional CFCC Management Team
• Regional CFCC Governance Team
• Country Business Segments/Product teams
• Country Operational Risk
• Country GIA
• South African Regulators (as applicable)

Other Responsibilities

• ​​​​​​Embed Here for good and Group's brand and values in the CFCC Governance team.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.