Head of FCC

Job description / Role

Head of FCC, Egypt Branch

The Role Responsibilities

Strategy

- Input to Group/Region/Country/Client Business operating model design of relevant FCC and business processes.
- Ensure that there is adequate support (people, processes, tools, frameworks, systems) in Egypt for necessary FCC controls.
- Set and implement the vision, strategy, direction and leadership for Egypt, consistent with the vision and strategy for FCC and in support of the Group's strategic direction and growth aspirations.

Business

- Analyse comprehensive impact of financial crime related regulatory matters on the relevant business area and its operations.
- Ensure that key changes (to laws, rules, regulations) are communicated and cascaded (in region/country), 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 regulatory expectations, laws, best practices and policies related to FCC.
- Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy or information security regulations.
- Manage all related FCC advisory for countries within the cluster and escalate to the FCC Cluster Head and FCC Regional and & Product Heads where necessary.

Processes

- Providing support to the Compliance function in Egypt and providing the Management with confidence that businesses and functions are operating within prevailing laws, regulations and operational risk tolerances, that operational risk management practice is consistent with Group Standards, and that associated control effort is proportionate to risk.
- To provide independent assurance of compliance to internal and external obligations through Compliance Monitoring Reviews.
- Establish and maintain frameworks within Egypt to ensure compliance with applicable banking regulations, internal policies, standards and codes so as to protect the reputation of the bank with its regulators and balance the needs of other stakeholders.
- Develop, 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.
- Providing governance and oversight over the implementation of FCC-related policies and Standards in Egypt to ensure compliance with such policies and Standards.
- Act as Process Owner for FCC-owned (sub-) processes under the Group's Risk Management Framework, including implementation and roll-out of relevant processes and DOIs.
- Provide advice to relevant stakeholders on compliance with Group standards relating to [AML/Sanctions/ABC/Fraud].
- Act as (second line) Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to [AML/Sanctions/ABC/Fraud], and escalate issues as appropriate.

Risk Management

- Maintain oversight of risk mitigating action plans.
- Ensure the suitability and quality of case data maintained on enterprise case management systems.
- Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management.
- Ensure that detection scenarios that are developed and deployed are fit-for-purpose.
- Establish and maintain watch lists used for customer and transaction screening and various other due diligence and investigative purposes (local/regional internal and external).
- Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
- 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.
- 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.
- Anticipate horizon risks in the area of financial crime that may have a significant impact on the Group and develop effective strategies to - mitigate such horizon risks.
- Identify intelligence for typology studies and risk mitigation plans.
- Conduct Country risk assessment.
- Map risks, quantify the potential impact and escalate where necessary.
- Advise relevant stakeholders on outcomes of [AML/Sanctions/ABC/Fraud] risks identification and assessment methodologies.
- Deliver/ support delivery of annual Global AML, ABC and Sanctions Risk Assessments.
- Partner with legal counsels for advice on technical matters.
- Conduct a root cause analysis on the control/other failures to ensure lessons are learned across the bank.
- Provide intelligence (to internal forums) on specific clients, client-types and emerging risk typologies.
- Provide intelligence inputs to support calibration of bank's Risk Methodologies (including aggregate client risk, product risk and country risk assessments).
- Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.

Requirements

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 160 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.

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

Recruitment assessments - some of our roles use assessments to help us understand how suitable you are for the role you've applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.

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.