Associate Director, FCC Corrrespondent Banking

Job description / Role

This role supports the Director, FCC CIB in managing and supporting the onsite due diligence program to perform high quality assessments of the risks arising from banking clients defined as high risk clients and provide recommendations for actions to reduce identified risks. The role includes the education if correspondent banking clients to adopt international best practices.

Key Roles and Responsibilities

Processes
* Providing governance and oversight over the implementation of FCC-related policies and procedures, specifically those relating to Correspondent Banking, in Region to ensure compliance with such policies and procedures.
* Act as second line Risk Control Owner under the Group's Risk Management Framework for those aspects relating to Correspondent Banking and escalate issues as appropriate.

Risk Management
* Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management.
* Apply Group and FCC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
* Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.
* Assess risks arising from products / segments / geographies / customers / transactions.
* Identify intelligence for typology studies and risk mitigation plans.
* Map risks, quantify the potential impact and escalate where necessary.
* Undertake enhanced due diligence on new and existing higher risk /sensitive clients such as PEPs or those associated with high risk industries or countries.

Governance
* Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and thus drive remediation action within the FCC function.

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.
* Support the FCC C&I Clients & Products 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.

Key Stakeholders
* Proactively engage stakeholders within the Corporate & Institutional Clients' Relationship Managers, Transaction Banking Sales and the FCC Function
* Work closely with Country and Regional FCC Teams to create a greater One Bank Culture
* Support regulatory engagement across region covered

Other Responsibilities
* Embed Here for good and Group's brand and values in Singapore
* Drive the lowering of financial crime across the correspondent banking portfolio
* Ensure that the risk arising from dealing with clients and products that have high risk characteristics are identified and addressed, through provision of recommendations for remediation actions
* Educate high risk client on international best practices to combat financial crime, as well as the Group' values in the area
* Support global coordination and consensus with other regional teams to ensure alignment in risk decisions and due diligence approach across the global footprint
* Ensure timely and accurate MI reporting of projects and reviews conducted and demonstrating progress
* Support projects within the FCC FI and Correspondent Banking book of work as assigned by the Head of FCC, FIs and Correspondent Banking

Requirements

* The ideal candidate will have prior working experience in both Financial Crime Compliance and Correspondent banking.
* The roleholder will be degree qualified or eviqualent coupled with a relevant compliance qualification (e.g. ACAMS, ICA etc)
* Prior experience working in a FCC advisory role for an international bank would be highly desirable.
* Strong stakeholder management experience is mandatory.

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.