Legal Counsel at Standard Chartered Bank

JOB SUMMARY:

• Support and implement the vision, strategy, direction for Team LCS supporting CCIB business in South Africa with overall responsibility for ensuring that technical quality and effectiveness of your legal support is consistent with global standards and drive consistency of execution. 
• Assist the Country Head of Legal & the Regional Head of COSEC and Legal AME in directing and overseeing the management of Legal issues and risks within the Business and keep them duly informed of key transactional, legal and regulatory issues and/or where applicable or relevant to escalate to them matters that pose legal, regulatory or reputational risks.
• Assist the AME General Counsel in ensuring the Country is well advised on legal matters.
• Ensure proper functioning of day-to-day regulatory/legal controls, periodic monitoring activities, and timely resolution of legal risk issues.
• Create awareness on local regulations among members of CCIB  Business through training and sensitization.
• Ensure adherence to Group Legal Policies is achieved within the South African CCIB Business.
• Provide guidance on the proper application and interpretation of laws and regulations applicable to the South African CCIB business.
• Ensure proactive and timely monitoring, identification, dissemination and advice of legal and regulatory developments, changes and practices and associated risks.
• Ensure adequacy of controls to mitigate legal risks and roll out legal policies and procedures in-country (where appropriate).
• Establish and maintain effective processes including training advice and support to ensure that legal policies procedures and standards are effectively implemented in-country.
• In the event of serious legal breaches, or where risk tolerance have been breached, ensure the relevant Business and senior management are informed and that actions are taken quickly to remediate and/or activities are ceased.
• Contribute to the effective management of Legal risks in-country through active participation of relevant risk forums such as Business and country operational risk fora.
• Ensure material Legal risks are identified and appropriately mitigated in product approval processes.  Review and approval of the Country Addenda of Product Approval Documents for local and cross-border regulatory risks.
• Promote active cooperation with the Business.
• Ensure that the engagement of external legal counsel is appropriate, effective and coordinated so as to minimize costs.
• Develop appropriate forms of documentation for products and transaction in-country and support the global documentation standardization initiatives.
• Support legal colleagues within Southern Africa as appropriate.

RESPONSIBILITIES:

Strategy:

• Assist the Cluster Head of Legal to set and implement the vision, strategy, direction and leadership for legal teams, as set by group and consistent with the Head of Legal’s vision and strategy for the legal function and in support of the Bank’s strategic direction and growth aspirations.
• Support the Cluster Head of Legal to promote the culture and practice of compliance with legal standards (including conducting business within regulatory  and internal policies’ requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.
• Assist the Cluster Head of Legal to establish close links with colleagues leading other Client segments and/or Product Groups to achieve common platforms and work plans, implementing a One Bank approach to covering all Clients.
• Input, support and challenge Group/Region/Country/Client Business operating model design of the relevant legal and business processes.

Business:

• Provide legal advice, analysis (and challenge when appropriate) in relation to the CCIB business including product design, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), and transactional advice. 
• Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
• Work closely with the CCIB business and its operational teams to provide timely legal advice to ensure compliance with all relevant laws, regulations and internal policies and support the transition to pro-active and pre-emptive legal risk mitigation. 
• Support the resolution of competing requirements between regulations specific to CCIB (i.e. between AML regulations and data privacy/bank secrecy or information security regulations).

Processes:

• Provide support and challenge to Southern Africa’s CCIB senior management to ensure that they establish and monitor appropriate processes for compliance with legal policies, procedures and standards (including meeting regulatory obligations).

People & Talent:

• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from the Southern Africa legal team peers and colleagues  and work in collaboration with risk and control partners.
• Support the Country Head of Legal to promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.

Risk Management:

• In accordance with the Group’s Enterprise Risk Management Framework, act as second line Risk Owner for appropriate Legal and CCIB business processes and support Country Head of Legal in this task.
• Collaborate with the other members of the legal team to anticipate horizon risks that may have a significant impact on the business and develop effective strategies to mitigate such horizon risks.
• Ensure proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated legal risks, and proactive engagement in regulatory reform.
• Assess legal risks arising from products / segments / customers / transactions.

Governance:

• Attend relevant Legal  meetings, and provide relevant reports to senior management and governance/risk committees
• Assist the Country Head of Legal to be accountable for identification and escalation of potential legal risks and issues to senior management through appropriate governance channels.
• Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant legal requirements.
• Review new business requirements and provide legal solutions for the CCIB business in South Africa (where required).

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.
• Principles: Fair Outcomes for Clients; Financial Crime Compliance; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders:

• Country Management Team South Africa
• Country Head of Legal
• AME Cosec Head
• Cluster Head of Legal, Southern Africa

Other Responsibilities:

• Embed Here for good and Group’s brand and values and Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

 Our Ideal Candidate

• Degree in Law
• Legal professional with over 3 (three) years’ experience in various legal roles post admission
• Advocate or Attorney of the High Court of South Africa
• Strong decision-making abilities
• A strong team player capable of interacting with senior business/risk management stakeholders

Role Specific Technical Competencies:

• Admitted Attorney or Advocate of the High Court of South Africa