Manager, RIU, Risk and CFCC

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Manager, RIU, Risk and CFCC

manager · Risk & Compliance

Job Summary

• Understanding the Bank’s Risk Taxonomy, Bank Policies and Standards, the impact regulatory developments have on these, assessing high level applicability of regulatory developments on the Bank and allocating these to the correct impacted stakeholders through a workflow tool
• Monitoring and reporting of regulatory change status against an agreed set of Turn Around Times (TATs) for taking action on impact assessments and Local Addenda mapping
• Proactive and continuous engagement with Country Risk Framework Owners (or their delegates) to provide guidance and direction on the overall Managing Regulatory Change (MRC) process and capabilities of Country RCMS (Country Obligations Register), including conducting refresher training
• Maintenance of Service Level Agreements with Country RFOs to ensure their horizon scanning sources and content exclusions remain relevant and accurate 
• Assist in the design of Country RCMS capabilities, to enhance the effectiveness and usefulness of the Obligations Register, and performance of UAT to ensure enhancements are operating as intended

Key Responsibilities

This is a role within the Risk and Conduct, Financial Crime and Compliance (“CFCC”) COO team as a Manager, Regulatory Identification Unit working with the Director, Regulatory Identification Unit and the Global Process Owner for Managing Regulatory Change (“MRC GPO”) process and Head of Regulation Identification Unit (“RIU”) for Risk and CFCC. 
The Manager RIU is mandated with the responsibility of managing the pre-requisite processes. Identification of new/amended regulatory changes from the agreed regulatory sources. Perform Initial Assessment, record the cases in the workflow/obligation tool and disseminate it to the appropriate stakeholders based on the Risk Type.
The RIU’s mandate is to provide centralised horizon scanning for Risk and CFCC regulatory developments and changes, and initial curation of regulatory content to RCT and Country CFCC and Risk Teams, for an agreed list of key regulatory authorities. 
In accordance with the Risk and CFCC regulatory change target-state and remediation, the responsibilities of this role contribute towards the maintenance and managing the BAU of the RIU as per the pre-defined process and operating model across relevant frameworks.
• This role is expected to adopt nWOW ("new Ways of Working") through effective agile process of managing the RIU
Strategy
• Performing, where needed, detailed operational analysis to identify any omissions/problems or areas for improvement.
• Supporting in implementing the RIU action plans and measuring the results against predefined goals and key performance indicators
• Support prioritisation of initiatives, ensuring alignment with RIU objectives, governance expectations, and CFCR/Risk priorities.
• Perform operational analysis to identify gaps, risks, inefficiencies and opportunities for process improvement.
Business
• Operate and manage the centralised horizon scanning for CFCC and Risk regulatory developments and changes, initial curation of regulatory content to RCT and Country CFCC and Risk Teams, for an agreed list of key regulatory authorities
• Act as a key contact point for all the RIU BAU matters.

Processes
• Maintains a list of core Group regulatory authorities subject to periodic review with Country RFOs and relevant Group stakeholders to ensure the regulatory publications issued by these authorities remain relevant and applicable to Group’s and Country’s activities. 
• Responsible for defining and maintaining standardised regulatory publication taxonomy.
• Periodic review of exceptions as part of Service Level Agreement (‘’SLA’’) to ensure continued accuracy.
• Maintain and agree SLA with Country RFOs to identify which regulatory authorities are in scope for RIU horizon scanning.
• Perform a high level rules-based applicability assessment which includes review of considerations for whether the publication is considered an exception.
• Assigns a Principal Risk Type (‘’PRT’’) and Risk Sub-Type (‘’RST’’) for the publications deemed as applicable to SCB and assigns a priority based on regulatory authority and publication type.
• Determines if a case is straightforward or Complex/LSRC based on the factors set out in MRC Standard.
• Review allocation disputes and remediate the disputes with consideration from Regulatory Change Team (‘’RCT’’)
• Support the design, maintenance and continuous improvement of RIU processes, procedures, and operating standards.
• Support periodic review of RIU process documentation, SLAs, taxonomy, regulatory authority lists and exception handling arrangements.
• Strengthen audit trail, governance discipline and process control by ensuring key decisions, changes and escalations are appropriately documented.

People & Talent
• Uphold and reinforce the independence of the Risk and CFCC function from those whose primary responsibility is to maximise short term revenues and profits.
• Promote and embed a culture of openness, trust, and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm. 
• Promote the culture and practice of Risk and CFCC 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.
• Responsible for building a culture of good conduct. 
• Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the Group. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Risk Management
• In addition to the core risk management responsibilities of the role set out above, the role holder must act quickly and decisively when any risk and control weakness become apparent and ensure they are addressed within an appropriate timeframe and escalated to management and through the relevant committees. 
• Escalating serious regulatory breaches or where risk appetite has been breached to senior management for regulatory notification as appropriate.
• Ensuring proactive and timely dissemination of regulatory changes/practices and associated risks, and proactive engagement in regulatory reform.

Governance
• The role holder shall ensure the provision and construction of meaningful aggregated MI / analytics for regulatory identification, horizon scanning, dissemination visibility, implementation, insights and proactive decision making.
• Ensure appropriate and timely escalations occur to the relevant governance committees (RCOF, GNFRC, Regional and Country Business Risk Committees)
• Support the preparation of meaningful MI, analytics, and insights to enable RIU oversight, decision-making, and management reporting.
• Coordinate governance updates, action tracking, and progress reporting for RIU strategic initiatives, process improvements, and control-related matters.
• Ensure key risks, issues, decisions, dependencies, and escalations are clearly documented and routed through the appropriate governance forums.
• Maintain clear audit trails for governance discussions, approvals, action closures, and change decisions.
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 the Group. This includes understanding and ensuring compliance with, in the letter and the spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct. 
• Effectively and collaboratively identify, escalate, mitigate and resolve relevant risk matters. 
• Lead on relevant CFCC Outreach priorities.
Key stakeholders
• Risk and CFCC Regulatory Change Team
• Risk and CFCC Risk Owners and Policy Owners
• Risk and CFCC Advisory
• Global Head, Risk Services, Risk and CFCC
• Technology & Innovation

Skills and Experience

• CFCC Management – Business Ethics
• CFCC Management – Cross-functional collaboration
• CFCC Management – Organizational Governance and Oversight 
• CFCC Management – CFCC Policies and Standards
• CFCC Management – Risk Assessment
• CFCC Management = Effective Communication
• CFCC Management = Regulatory Environment – Financial Services

Qualifications

• Minimum of 4 - 5 years of experience within Banking or Financial Services
• Knowledge of regulatory identification and their risk types
• Regulatory experience and understanding of global regulatory universe across Financial Services
• Understanding of agile ways of working 
• Strong data management, analytical and MI design and operational skills
• Strong interpersonal, relationship building, and influencing abilities
• Multi-lingual capability (proficient in Mandarin and English)
• Ability to collaborate and work dynamically across a broad range of stakeholders
• Ability to manage geographically dispersed stakeholder base with multi-cultural awareness and sensitivity
• Highly disciplined and structured with an outcome orientated mindset and approach
• Exemplary integrity, ethics, independent and resilience

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.

Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

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