Principal, Second Line Assurance at Standard Chartered Bank

The Role Responsibilities:

• Conduct, Financial Crime & Compliance (CFCC)'s vision is: Partnering to drive the right outcomes for clients and communities.
• The Second Line Assurance (2LA) function within CFCC provides independent, effective, insightful and risk-based assurance across non-financial risk-types. Our vision is ONE approach, ONE plan, ONE mindset: a digital, commercial and risk-based function that focuses on key risks that impact our clients, business and regulators; Insights that improve client experience and risk management; a talent bank recruiting, growing and delivering even stronger talent.

Strategy:

• Collaborate with and support their Head of Assurance, directly contributing to the overall strategy of the function through the development of the 2LA Annual Plan ("the Plan").
• Contribute to any development of the 2LA Methodology ("the Methodology") as necessary; ensure that approved changes to the Methodology are communicated and cascaded to the team.
• Coordinate and lead delivery of the Plan as required across first and second line of defence.

Business:

• Communicate outcomes from Assurance reviews to relevant stakeholders and support them in developing mitigating actions to correct identified issues.
• Execute assigned review tasks within the designated business area; identify and record potential issues and ensure that these are formally evaluated according to the Methodology.
• Actively engage in the Review processes, taking every opportunity to develop their knowledge and understanding of SCB Business and the execution of Assurance while delivering their tasks.
• Ensure that key changes (to laws, rules, regulations) relevant to the execution of Assurance activities are communicated and cascaded to the Assurance team where necessary.
• Support their Head of Assurance, demonstrating knowledge and capability to stakeholders in the delivery of the Plan for their area of responsibility; when required, acting as delegate for their Head of Assurance

Processes:

• In coordination with Program Team, fully engage in the collection of the relevant information to develop risk-based assurance reviews, participate in the 1st and 2nd Line Stakeholders discussions, gather 1st and 3rd line testing, analyse the CC CRA, review Region Heads Bottoms Up Plan to deliver consistency and efficiency across the consolidated plan.
• Manage all scoping and set up processes for assigned reviews.
• Ensure that all work papers required for assigned Reviews are completed to required quality standards and that all documentation is correctly filed, as required by the Methodology.
• As required by the Methodology track issues throughout the issue lifecycle, capture and track the issue data in the relevant tracking tool and ensure the remediation of issues arising from assigned Reviews (and any other assigned task) is sustainable and validated before closure. In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure their Head of Assurance is informed, and action is taken quickly to remediate - or related activities are ceased.
• Propose control enhancements and / or simplifications where appropriate; support all control checks required under the Operational Risk Framework ("ORF").
• Promote 2LA co-operation and partnership with Auditors, regulators, peers and industry.
• Monitor quality standards for Reviews and take action to drive performance improvement where required.
• Capture and communicate insights arising from Review execution; actively engage in driving improvement of the Methodology.
• Drive skills management processes for managed staff, ensuring skills assessments are correctly completed and maintained.
• Ensure the timely release of Review team members to their next task; actively manage assigned resources to ensure that tasks are completed on schedule; work closely with G&O to manage unexpected resource requirements.
• 2LA fieldwork may require international travel for extended periods of time.

People and Talent:

• 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.
• Stimulate and environment where forward planning prioritisation, deadline management and streamline workflows and collaborative, inclusive effective work practices are the norm.

Risk Management:

• Make recommendations to relevant stakeholders on possible risk management responses to identified risks and / or issues from assurance reviews; support them in the execution of mitigating actions.
• Adhere to the required standards of risk management for the management of all Assurance processes.

Governance:

• Determine patterns and trends of identified issues across the relevant subject matter. Lead reviews, set appropriate corrective action to remediate, and report to appropriate governance forums
• Ensure that work delivered in their area of responsibility follows prescribed workflows and meets quality standards for the Assurance function with the required attention to detail and within the timelines set.
• Swiftly escalate significant risks and issues arising from 2LA activities by notifying their Head of Assurance.

Regulatory and Business Conduct:

• Display exemplary conduct and live by the Group's Values and Group Code of Conduct.
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the 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.

Our Ideal Candidate:

• Bachelors degree or Equivalent required.
• Auditing, Risk Management, Operational and Technology Risk / Compliance background.
• Experience performing walkthroughs, identification of key risks, risk assessments of the internal controls environment, performing controls and substantive testing.
• Good knowledge of regional regulatory requirements, including recent regulatory reform
• Previous review or assurance experience with minimum of 5-10 years (compliance, financial crime, operational risk, systems and data audit reviews / testing, risk management)
• Strong analytical skills, and confidence in interrogating data, processes and interviewing stakeholders.
• Excellent oral and written communication skills - ability to present complex information clearly and concisely.
• Takes responsibility, ownership and accountability for own tasks and work output.

Role Specific Competencies:

• CFCC 10 Core Technical Competencies
• Planning: Tactical, Strategic
• Process Improvement
• Relationship Management