Head of Financial Crime Compliance, Egypt

Job description: Job Summary

RESPONSIBILITIESStrategy

•    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 relevants 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. 

Key Responsibilities

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 and Fraud, and escalate issues as appropriate.

 

Skills and Experience

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•    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 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 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.

Qualifications

Governance 

•    Attend relevant leadership meetings.•    Provide [or support] senior oversight of FCC region/country/function.•    Ensure tracking and remediation of surveillance and investigations related regulatory findings.•    In the event of serious regulatory breaches, or where risk tolerances have been breached, 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, FCC assurance activities and specific investigations.•    Track significant issues arising from FCC metrics, FCC Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.•    Propose control improvements, enhancements and simplifications where appropriate.•    Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.•    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 drive remediation action within the FCC function.

 Project/Change Management

•    Lead or influence significant programmes of work in support of the financial crime compliance objectives.•    Review new business requirements and provide solutions where required.•    Provide skilled resources to support project/programme delivery.•    Manage and protect business as usual (BAU) capability during change programmes, as well as during the execution and delivery of the Remediation initiatives through project phase and into BAU.

About Standard Chartered

We're an international bank, nimble enough to act, big enough for impact. For more than 170 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.

Together we:

• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term

What we offer

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

• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential.

Profile description:

Standard Chartered Bank