Associate, Regulatory Compliance

Job description / Role

Associate, Regulatory Compliance - UAE

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
* Assist in ensuring that there is adequate support (people, processes, tools, frameworks, systems) in the UAE Regulatory Compliance, team to support sustainable business growth and address Compliance risks.
* Assist Director, Regulatory Compliance in ensuring to senior management that Standard Chartered Bank's operations in the UAE are in line with regulatory expectations and Group requirements.
* Assist Director, Regulatory Compliance in the implementation of the vision, strategy and Compliance plan set by the Head of 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.
* Provide advice to relevant stakeholders on the interpretation and application of local regulatory expectations, laws, best practices and policies related to Compliance.

Processes
* Keep 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.
* Assist us setting 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.

Risk Management
* Escalate to Director, Regulatory Compliance serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and / or activities are ceased.
* Analyse and interpret the comprehensive regulatory impact of complex Regulatory Compliance matters on the Bank's business and its operations.
* Advise the Director, Regulatory Compliance on material Compliance issues (as required) and to ensure appropriate steps are taken to manage and/or mitigate the issue.

Governance
* 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.
* 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 Head of Regulatory Compliance UAE and Head of Compliance, UAE on key regulatory risks and control effectiveness.

Regulatory relationships and regulatory change
* Support the Director, Regulatory Compliance in ensuring proactive regulatory engagement and in establishing an effective regulatory relationship plan in the UAE.
* Support the Director, Regulatory Compliance drive regulatory meeting agendas and matters for discussion.
* Assist Director, Regulatory Compliance in providing 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.

Regulatory Advice
* Assist Director, Regulatory Compliance with regard to timely regulatory advice and recommendations on key issues (including on Prudential Regulation, in partnership with Finance and Risk Functions) and proactively monitors regulatory developments.
* Provide timely regulatory advice and recommendations on key issues (including on Prudential Regulation, in partnership with Finance and Risk Functions) and proactively monitors regulatory developments.
* Assist in overseeing relevant administration and licensing as required by local regulatory requirements.

Regulatory & Business conduct (The below is mandatory standard wording, do not remove)
* Display exemplary conduct and live by the Group's Values and Code of Conduct.
* Support the UAE Regulatory Compliance team to achieve the outcomes set in the bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment.
* 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.
* Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders
* Regulators - UAE Central Bank and Securities & Commodities Authority ("SCA")
* Head of Regulatory Compliance UAE
* UAE business compliance stakeholders

Other Responsibilities
* Embed Here for good and Group's brand and values in the UAE Compliance Assurance team.
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Requirements

* Relevant undergraduate degree in Law, Compliance and/or Risk Management or any other relevant field.
* Relevant professional certification in compliance is preferable.
* 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.
* The role holder must be an Arabic speaker with strong communication skills both written and verbal.

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.