Associate Director, Regulatory Compliance

Standard Chartered Bank - UAE

Dubai, UAE

Ref: HP048-1141

Job description / Role

Employment: Full Time

The role holder assists the Head of Regulatory Compliance, UAE in the management of regulatory risks and provides support to the UAE Country Compliance team in its role of ensuring Standard Chartered Bank UAE meets regulator and Standard Chartered Group expectations.

Key Roles and Responsibilities

Strategy
* Ensure that there is adequate support (people, processes, tools, frameworks, systems) in the UAE Regulatory Compliance, Governance team to support sustainable business growth and address Compliance risks.
* Ensure to senior management that Standard Chartered Bank's operations in the UAE are in line with regulatory expectations and Group requirements.
* Assist the Director, Compliance - Governance and Frameworks in the implementation of the vision, strategy and Compliance plan set by the Head Compliance, UAE, consistent with supporting the bank's strategic direction.

Business
* Analyse comprehensive impact of Compliance related regulatory matters on the relevant business areas and their operations.
* Ensure that key changes (to laws, rules, regulations) are communicated and cascaded in the UAE, 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 local regulatory expectations, laws, best practices and policies related to Compliance.

Processes
* Develop, kKeep up to date and recommend for approval by the relevant Risk Committee, appropriate policies/processes/DOIs to address financial crime risks, aligning with relevant regulatory requirements.
* Providing governance and oversight over the implementation of Compliance-related policies and procedures in the UAE to ensure compliance with such policies and procedures.
* Set control standards and provide advice on the development of appropriate controls for the mitigation of regulatory risks.

People and Talent
* Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
* Ensure 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.
* Employ, engage and retain high quality people, with succession planning for critical roles.
* Responsibility to review team structure/capacity plans.
* Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
* Regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
* Ensure regular and documented management meetings with direct reports.
* Assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the business.
* Ensure teams are adequately resourced and capacitised.
* Support in meeting the Emiratisation goals set for the UAE.

Risk Management
* Collaborate with Director, Compliance - Governance and Frameworks in Mmaintain oversight of risk mitigating action plans.
* 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.
* Support Director, Compliance - Governance and Frameworks with aAnalysise and interpretation of the comprehensive regulatory impact of complex Regulatory Compliance matters on the Bank's business and its operations.
* Advise Support Director, Compliance - Governance and Frameworks the Head of Regulatory Compliance, UAE and senior management (where relevant) on material Compliance issues (as required) and to ensure appropriate steps are taken to manage and/or mitigate the issue.

Governance
* Attend relevant leadership meetings.
* In the event of serious regulatory breaches, or where risk tolerances have been breach, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
* Prepare and cascade lessons learned from audit findings, Compliance monitoring assurance activities and specific investigations.
* Keep up to date on local issues that could contribute to Regulatory Compliance vulnerability and horizon risks and consider implications for policies and procedures from a business, risk, compliance and culture perspective.
* Provide timely, relevant and accurate management information to both Director, Compliance - Governance and FrameworksHead of Regulatory Compliance UAE and Head, Regulatory Compliance, UAEHead of Compliance, UAE on key regulatory risks and control effectiveness.

Regulatory relationships and regulatory change
* Support the Director, Compliance - Governance and FrameworksHead of Regulatory Compliance, UAE in ensuring proactive regulatory engagement and in establishing an effective regulatory relationship plan in the UAE.
* Support Director, Compliance - Governance and Frameworks with update, tabling and execution of the Government & Regulatory Relationship Plan ("GRRP").
* Responsible for the updating, tabling and execution of the Government & Regulatory Relationship Plan.
* Support the Director, Compliance - Governance and FrameworksHead of Regulatory Compliance, UAE drive regulatory meeting agendas and matters for discussion.
* Provide briefings and guidance to management on regulatory matters.
* Ensure the Bank is properly prepared for, routine regulatory exams, audits and supervisory inspections, as well as to managing the response from the business.

Compliance Reporting
* Prepare regular and accurate reports and management information that demonstrate understanding, provide clear analysis and are escalated to the relevant risk managers and governance bodies.
* Support Director, Compliance - Governance and Frameworks to Ddesign and maintain dashboards and metrics that allow Compliance to dynamically monitor risks and operational performance related to key Regulatory Compliance matters.
* 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 support remediation action within the Compliance function.
* Implement quality assurance standards and workflows for the Compliance function.
* Support Director, Compliance - Governance and Frameworks to Drivingdrive Gap Analysis on key new or amended regulations with multiple touch points.
* Oversee and qQuality assure all aspects of remedation work arising out of Operational Risk findings, monitoring and assurance reviews, GIA and regulatory examinations with input from Director, Compliance - Governance and Frameworks.
* Support Director, Compliance - Governance and Frameworks with the management Management of UAE Compliance Governance Forum, including committee ToRs, agenda, minutes etc.

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 UAE Compliance Assurance team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Requirements

* The role holder needs to possess extensive knowledge of corporate governance best practices, delivering Compliance training and overseeing the embedding of a robust compliance framework.
* 4 years plus banking/financial service experience.
* Relevant undergraduate degree in Law, Compliance and/or Risk Management or any other relevant field
* Relevant professional qualification in Compliance is preferable.
* Excellent stakeholder management skills are required

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.

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Associate Director salaries in UAE

Average monthly compensation
AED 37,000

Breakdown available for industries, cities and years of experience