Principal, CFCC, Transaction Banking at Standard Chartered Bank Kenya

The Role Responsibilities

• Help the Group meet its commitment of being "Here for Good" by building a sustainable CFCC framework that places regulatory and compliance best practice standards, and a culture of appropriate conduct at the forefront of the Group's agenda
• As an independent second line risk control function, execute the relevant aspects of the CFCC framework through robust independent risk control and the provision of specialist advice and constructive challenge in a manner proportionate to the nature, scale and complexity of the Group's business.
• Proactively support and challenge the Group's businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group's clients.
• Evaluate the effectiveness of the Group's compliance efforts.
• Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
• Maintain constructive and effective relationships with Business Heads/Business Chief Operating Officers ("COOs"), and assist relevant CFCC heads to interface with and support all key business stakeholders.
• Insofar as they relate to regulatory compliance, be responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances (as agreed by the Board from time to time) may occur and notifying any such breaches to the Head, CFCC AME as well as the Head, CCIB CFCC, Kenya & East Africa
• Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.

Strategy

• Support and implement the vision, strategy, direction and leadership for Transaction Banking Compliance in the East Africa cluster, consistent with Head, CFCC TB, AME vision and strategy for the Compliance function, and in support of the Bank's strategic direction and growth aspirations.
• Promote the culture and practice of adherence to compliance standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.
• Compliance leadership of the TB businesses in East Africa through the development of an overall strategy across TB in the East Africa cluster for delivering appropriate regulatory guidance, and the establishment of an integrated programme to identify, manage, monitor, and report Compliance risk.

Business

• Build and maintain an effective and constructive relationship with all key business and functional stakeholders that is based on trust, capability and integrity, providing timely, responsive and quality regulatory compliance advice and guidance to enable the business and functions to meet/ achieve their strategic tactical objectives.
• Provide regulatory advice, analysis (and challenge when appropriate) in relation to the full product life cycle including product design through to post sale reviews/ assessments, new business initiatives, bespoke projects, remedial activities (including nature, scale and rigour of past business reviews), transitional investigations.
• Provide robust challenge to senior management and all relevant business stakeholders where activities are outside risk tolerance/ appetite, escalating as necessary, until appropriate oversight and ownership is achieved including actions and plans to address any remedial action needed to come back within risk tolerance/ appetite.
• Work closely with the business to provide timely regulatory compliance advice to ensure compliance with all relevant laws and regulations and support the transition to pro-active and pre-emptive compliance and conduct risk mitigation.
• Regular and diarised catch ups with all key business stakeholders.
• Work closely with TB business in the East Africa cluster in delivering products and transactions to East Africa clients in an appropriate and compliant manner, promoting the culture and practice of global standards, while managing local requirements.

Processes
 

• Establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address compliance and regulatory risks (excluding financial crime) are effectively implemented and adhered to across Transaction Banking in the East Africa cluster.
• As an independent second line risk control function, provide support and challenge to the Bank's senior management to ensure that they establish and monitor appropriate processes for compliance with compliance policies, procedures and standards (including meeting regulatory obligations and maintaining high standards of conduct).

People and Talent
Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from the team and work in collaboration with risk and control partners.

• Ensure the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
• Contribute to the recruitment and development of talent within the CFCC team
• Regularly review the performance and compliance advisory role of the cluster DTBCOs and assist the country CFCC Head as needed in the management of staff performance
• Ensure regular and documented management meetings with direct/ indirect reports, assess competency and skill of the team on an ongoing basis to ensure alignment of skill set to the risk management demands of the business.
• Ensure teams are adequately resourced and capacitised

Risk Management

• Act as Risk Owner, or delegate to a member of the team, under the Group's Risk Management Framework for TB processes in the East Africa cluster where Compliance is the second line Risk Owner.
• In collaboration with the Regional Compliance Assurance team, ensure that local risks associated with the business in the East Africa cluster are reflected in country risk assessments, with compliance reviews established where necessary, and ensure Compliance involvement in the resolving of identified regulatory or compliance issues relevant to the businesses. Escalate to Group Compliance where necessary.
• Ensure effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage regulatory and other compliance issues that have a significant impact on the Bank.
• Collaborate with the broader CCIB Compliance team and the broader Compliance team in the Region to anticipate horizon risks that may have a significant impact on the Bank and develop effective strategies to mitigate such horizon risks including global standards for conduct of business.
• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management in the Bank and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased. Ensure proactive and timely identification, assessment, advice and dissemination of evolving regulatory changes/practices and associated risks, and proactive engagement in regulatory reform. Assist and work closely with Shared Investigative Services (SIS) in relation to investigations concerning the Transaction Banking businesses in the East Africa cluster.
• Provide reports to relevant Regional and Business risk and control committees and management group on key compliance risks and issues.
• Maintain adequate management MI / trackers across all aspects of one's coverage and responsibility to ensure all issues and matters are tracked, followed, regularly assessed and reported on.
• Ensure global standards are understood and implemented locally, with any identified exceptions, or need for more/less stringent standards escalated to Group Compliance for joint decision-making. Provide Regional thought leadership and execution on local and global regulatory reform.

Governance
Within the Group's overall Risk Management Framework, establish and maintain appropriate risk based compliance frameworks for identifying, assessing, managing, monitoring, mitigating and reporting compliance (including regulatory) risks across Transaction Banking businesses in the Eastern Africa cluster.

• Where needed, develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures.
• Manage governance and coordination activities such as participating in local governance committees and aggregating logistics and support for the function.

• Ensure appropriate product governance measures are in place so that product approval documents reflect all relevant regulatory requirements.

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 CFCC team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Financial Crime Prevention; Creating the Right Environment.
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Key Stakeholders

• Senior Business Management within Transaction Banking in Africa with a specific focus on East Africa
• Business Operational Risk Managers
• Regional Product Management
• Trade, Cash and Securities Operations Heads
• Country Compliance Conduct and Financial Crime Compliance (CFCC)
• Regional Risk Managers
• Group Internal Audit

Other Responsibilities
 

• Embed "Here for Good" and Group's brand and values in the Transaction Banking Compliance Team in the Region.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
• Adhoc TB Compliance related projects related to Cluster
• Lead and co-ordinate TB training initiatives across the East Africa cluster

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