An'yst, Regulatory Compliance

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An'yst, Regulatory Compliance

Risk & Compliance

Job Summary

• Properly perform the duties on supervisory, audit and risk control, including but not limited to
• contribute in the formulation or amendment of audit, risk control and accountability policies
• participate in the internal investigations or reviews on regulatory failure such as accountability review
• Be responsible for regulatory failure or risks arising from or in connection of failure to perform the duties on supervisory, audit and risk control

Key Responsibilities

Strategy

• Support city CFCR team to contribute to the effective management of risks.
• The CFCR function within the branch is the independent oversight on behalf of senior management of those core processes and related policies and procedures that seek to ensure the bank is in conformity with industry-specific laws and regulations in letter and spirit, thereby support city CFCR team helping to maintain the bank’s reputation.
• Support city CFCR to ensure the effectiveness of the management of Compliance and Regulatory Risk issues by taking branch responsibility and leadership for compliance & Regulatory Risk. Promote, lead and manage the culture and practice of Compliance to ensure the conduct of business is within the letter and spirit of regulatory requirements and meets ethical standards.
• Support city CFCR to ensure compliance with applicable laws, regulations, internal policies, procedures and codes by establishing and maintaining frameworks within branch in order to protect the reputation of the bank and avoid significant financial loss.
• Support city CFCR to ensure, through the maintenance of appropriate frameworks and procedures, that material compliance and regulatory risks are anticipated, identified, escalated and reported and managed to mitigate risk, financial loss and damage to reputation.

• Support city CFCR to provide advice to branch business & functions stakeholders on compliance relating to CFCR.
• Support city CFCR to deliver Compliance and AML Risk Assessments.
• Support city CFCR to respond to regulatory questions.
• Support city CFCR to ensure the branch is properly prepared for, routine regulatory exams, audits and supervisory inspections, as well as to managing the response from related stakeholders.
• Support city CFCR to co-ordinate with other teams in the branch (e.g. CGM office, CIB, WRB, Ops) and / or HO functions / Business segments (e.g. Finance, Product, BORM, Risk) esp. for regulatory survey and reporting.
• Support city CFCR on the assessment of the compliance risks of proposed new products/service in the branch prior to launch.
• Support city CFCR on active compliance supervision to ensure that the branch is aware of and observes both general and specific regulations that apply to their business activities. Support city CFCR to independently summarize, document and assess the compliance risks associated with the branch business activities, consider ways to measure compliance risks and use various compliance programmes/tools to enhance compliance risk control. Support city CFCR to assist management to identify and maintain compliance processes and procedures; identify potential compliance issues and advise on appropriate remedial action of responsible locations.

• Assisting city CFCR on coordinating and supporting on/offsite inspections, promptly follow up any identified deficiencies, and, where necessary, formulate proposals for amendments, rectifications.
• Support city CFCR on the delivery of compliance guidance and education programs across the branch network, based on assessment of local branch compliance quality, educating staff on branch-wide compliance issues and provide guidance to staff on the appropriate implementation of compliance laws, rules and standards.
• Support city CFCR disseminating new and revised local regulations, policies and standards to the City network, support city CFCR to interpret them on risk-based approach, ensure appropriate coverage across businesses and co-ordination among HO and local management functions.
• Support city CFCR to compile internal reports on a regular basis to senior management on compliance risk that has taken place within the City. Support city CFCR to coordinate various types of ad hoc reports/surveys from regulators. Support city CFCR to process local bank/product license/various local filing reports as requested. Support city CFCR to summarize any identified breaches and/or deficiencies and the corrective measures recommended to address them, and report on corrective measures already taken to regulators.
• Fully understand the importance of fraud prevention, properly support city CFCR to perform the duties of the leading department of fraud prevention on branch level in line with the requirements of internal policies & procedures and laws & regulations (e.g. coordinate relevant departments to implement the fraud prevention requirements forward by local regulator, collect and summarize case prevention work on branch level and coordinate with relevant departments to organize relative training etc), so as to avoid any actual or potential legal sanctions, regulatory penalties, material financial loss, or negative reputational impact on the Bank.

Governance 

• Fully understand the importance of fraud prevention, properly support city CFCR to perform the duties of the leading department of fraud prevention on branch level in line with the requirements of internal policies & procedures and laws & regulations (e.g. coordinate relevant departments to implement the fraud prevention requirements forward by local regulator, collect and summarize case prevention work on branch level and coordinate with relevant departments to organize relative training etc), so as to avoid any actual or potential legal sanctions, regulatory penalties, material financial loss, or negative reputational impact on the Bank.

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.
• Lead the City CFCR to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
• Strictly follow local regulators’ (such as NFRA/PBOC/SAFE) requirements of bank staff conduct.

Key stakeholders

• CGM, business lines and support functions at branch level (e.g. CGM office, CIB, WRB, Ops) and HO functions / Business segments (e.g. Finance, Product, Risk), Director and section chief of relevant department of local regulators.

Other Responsibilities

• Understand, acknowledge and comply with the requirements on individual accountabilities and responsibilities of the job set out in applicable local laws and regulations as well as SCB internal policies
• Effectively ensure and intensify internal controls by keeping abreast with developments of applicable local laws and regulations on accountabilities
• Perform job duties with diligence, contribute to efforts as an individual or as a team member so as to avoid any actual or potential legal sanctions, regulatory penalties, material financial loss, or adverse reputational impact on the Bank
• Be responsible for failure to follow relevant rules and processes, failure to properly perform the responsibilities, and implement corrections
• Cooperate with any investigations or reviews on regulatory failure such as accountability review

Skills and Experience

• Thorough knowledge of banking products and services, such as RMB settlement, cross-border RMB, FX under current and capital account, BOP, AML related, and the latest new polit policy for biz promotion.
• More than 6 years work experience in banking industry, especially in Ops, TB, Compliance, or relevant regulator background
• Sound knowledge of local regulatory requirements, local banking practices and requirements including but not limited to RMB XB and FX self-discipline mechanism, FTZ policy, credit bureau policy, individual FX policy, etc. 
• Strong local regulatory relationship management skills and have healthy relationships with key depts. of regulators, such as capital account division, current account division, BOP, AML, Financial stability, foreign bank supervisory department, etc
• Good judgment enabling the provision of sound advice in ambiguity areas of regulation and practice and the proactive management of compliance and regulatory risk in the city
• Deep knowledge of the process critical for implementation of risks and controls
• Strong risk sense and the ability to assess risk in the branch

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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