Associate Director, FCC, Sanctions Operations

Standard Chartered Bank - UAE

UAE

Ref: HP048-1357

Job description / Role

Employment: Full Time

Business (Responsibilities related to the delivery of business and / or financial objectives)

* 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.
* Be updated on current events, regulatory issues and new and changing Sanctions regulations, in country, in the UK and the US, and internationally
* Provide Sanctions Compliance advice and guidance to businesses and functions in a timely, effective and constructive manner on client relationships, transactions, products and all other issues escalated to the Regional FCC Sanctions

Processes (Processes for which the role is responsible under the ORF as 1st & 2nd line; for executing / completing, and for supervising)

* Providing governance and oversight over the implementation of relevant FCC-related policies and procedures in Region /Business to ensure compliance with such policies and procedures.
* Provide advice to relevant stakeholders on compliance with Group standards relating to Sanctions
* Ensure Sanctions Investigations and Operations team operates in compliance with the relevant Sanctions Policies, Procedures and Departmental Operating Instructions for cash and trade screening alert investigation activities
* Support the business/functions/group/regions/countries with transactional queries ensuring timely and constructive responses
* Ensure process controls are commensurate to the risk and effectively working for Sanctions Investigations and Operations team in compliance with the procedures and regulatory timescales
* Oversight of processes around rejected transactions (coordination with Client Sanctions Review process) including reporting of breaches, Potential Circumvention Attempts, addition to and maintenance of internal lists and capturing of trends
* Support projects and inititives involving transaction screening ensuring risks are adequately highlighted and mitigated appropriately thereby enabling smooth implementation

People and Talent (Responsibilities related to people and talent matters)

* Identify training needs of Sanctions Investigations and Operations team and deliver the necessary training on a continuous basis
* Deliver/support /Sanctions/ training programs to meet the training needs of FCC.
* Deliver/support Sanctions/ training programs to meet the training needs of the business

Risk Management (Responsibilities Under Risk Management Framework - both execution and supervisory)

* Understand technical aspects of systems relevant to Transaction and Name Screening, Case Management, AML Monitoring, CDD and Client Risk Assessments
* Establish and maintain watch lists used for customer and transaction screening and various other due diligence and investigative purposes (local/regional internal and external).
* Apply Group and FCC policies and processes 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 geographies / customers / transactions.
* Identify financial crime risk indicators through various internal/external sources that impact SCB and its clients.
* 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.
* Escalate immediately to Regional Head of Sanctions material breaches or potential breaches of sanctions laws, regulation or Group procedures

Governance

* Support all control checks undertaken by FCC under the Operational Risk Framework (ORF).
* Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
* 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.
* Establish and maintain reporting of key transactional related metrics to Financial Crime Compliance Sanctions leadership on a regular basis
* Support the relevant stakeholders in developing and maintaining effective governance and oversight of the Financial Crime Survelillance Unit (FCSU) teams and embed a continuous engagement model

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.
* 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 AME Sanctions Investigations and Operations 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.

Key Stakeholders

* Establish and develop effective working relationships with business/functions in the effort of partnering to improve effectiveness of Sanctions operations
* Build and maintain relationship with Country FCC teams in order to support in-country transactional activity and business queries, and to provide guidance and oversight of Sanctions Compliance processes
* Develop and maintain effective working relationship and engagement with the Financial Crime Surveillance Unit (FCSU) team

Other Responsibilities

* Embed Here for good and Group's brand and values in AME Sanctions Investigations and Operations team
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Requirements

TECHNICAL COMPETENCIES
• Compliance Policies and Standards
• Compliance Advisory
• Compliance Review and FCC Assurance
• Surveillance (including Screening and Monitoring)
• Investigations
• Compliance Risk Assessment
• Regulatory Liaison
• Manage Change
• Manage Projects

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