Standard Chartered Bank Hiring for Head – FCSO Pakistan at Karāchi, Sindh, Pakistan Full Time

• Discharge the key responsibilities of the Process Owner at Country-level for the FCSO processes as set out in the ERMF, as it relates to:
• Identification and management of the FCSO processes and associated risks including activities which are carried out by other businesses or functions, or which are hubbed or outsourced;
• Implementing the RCSA to monitor the effectiveness of the controls and standards governing the end-to-end process;
• Being responsible to the Process Universe Owner, Risk Framework or Policy Owners, and implementing the control requirements applicable to the process;
• Escalating significant risks and issues to the Process Universe Owners, relevant RFO or Policy Owners

Accountabilities

• Discharge the key responsibilities of the Process Owner at country-level for the FCSO processes as set out in the ERMF, as it relates to:
• Adherence of processes to all applicable Risk Type Frameworks (including FCC, Compliance, Operational…) set by the respective Group RFOs
• Identification and Mitigation of the applicable Risk sub-types
• Country-level responsibility of the end-to-end processes and controls to the Process Universe Owner, Risk Framework or Policy Owners, FCSO Group Process Owner and Regional FCSO Head
• Accountable for managing the Country FCSO process within approved Group and Country risk appetite, and breach escalation
• Update and maintenance of the case disposition delegation of authorities
• Adherence to local and extra-territorial regulatory obligations
• Implementation of the Group policies/standards and Country Addendum (from 2LOD) and Group DOI/guidance and Country variation (from 1LOD) to mitigate the applicable risks and risk sub-types, in line with local country FCC regulations
• Implementation of the control requirements applicable to the process;
• Assessment, Monitoring and Mitigation of FCC risks (i.e RCSA)
• Management of all risk mitigants including activities carried out by other businesses or functions, or which are hubbed or outsourced
• Identification of the most significant current and emerging FC related threats to the country (Horizon scanning)
• Input to Group risk assessments
• Defining, gathering and processing risk data related to FCSO processes to meet the Group’s risk reporting requirements
• Enabling the knowledge, skills and behaviour that are required to ensure Staff are fully equipped to address all applicable risks
• Address unique challenges/internal events/external events that may arise and need to be handled.
• Escalating significant risks and issues to the Process Universe Owner, Risk Framework, Policy Owners, FCSO Group Process Owner and Regional FCSO Head
• Provision of country overlay to proposals submitted by Group FSCO process owners, including:
• Transaction monitoring thresholds proposed by SPOT team with appropriate rationale for thresholds
• Configuration settings for screening
• Screening applicability
• Engagement of Second Line of Defence for approval, guidance and challenge for FCSO processes
• Adherence of branch or subsidiary compliance with the applicable RTF.

Strategy

• Set and implement the strategy for the implementation of the FCSO programme in Country, in line with Group and Country standards
• Ensure there is adequate support (people, process, tools, frameworks, systems) for necessary FCSO controls
• Set and implement the vision, strategy, direction and leadership for the Country FCSO team consistent with the vision and strategy for Group Operations 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.
• Propose the risks required related to the Surveillance and Operations activity
• Ensure that key changes (to policy and standards) are communicated and cascaded (in country), in coordination with group communications.
• Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends
• Effectively supervise Country FCSO team for day-to-day BAU activities
• Ensure timely reporting and escalation of significant AML/CTF issues to FCSO MT and Country RFO
• Coordinate with the relevant operations units to ensure that the relevant lists and database used in screening, transaction monitoring and investigation are up to date and relevant.

Risk Management

• Identify, assess, monitor and escalate risks and issues to Second Line and the Senior Management
• “Manage risks within Risk Appetite.
• Set and execute risk remediation plans. “
• Validate and self-assess compliance to Risk Type Frameworks and Policies, confirm the quality of validation, and provide evidence-based affirmation to Second Line
• “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.
• Input into optimisation of risk and data analytic tools/techniques to tune relevant detection scenarios, and screening and monitoring systems.
• Provide input into decisions on how detection scenarios are developed and deployed to ensure they are fit-for-purpose.
• Review and assess existing system and controls relevant to FCSO processes performed in country to ascertain operational performance and effectiveness.
• Align/support with the alignment of relevant systems and controls to industry best practice and close out any compliance gaps.
• Ensure that the relevant lists and database as used by the screening systems are up to date and meet local country requirements.
• 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 identify risks and/or findings of concerns from investigations.
• Assess risks arising from products / segments / geographies / customers / transactions relevant to country S&O activity.
• Prepare and cascade lessons learned from audit findings, CFCC assurance activities and specific investigations.
• Propose control improvements, enhancements and simplifications where appropriate
• Support all control checks undertaken by FCSO under the Operational Risk Framework (ORF).
• 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
• Develop effective controls and procedures for identifying, monitoring, reporting and record keeping of surveillance cases and ensure that cases of suspected money laundering/terrorist financing are subject to appropriate investigations and disclosures where necessary. Ensure relevant procedural manuals are in place for all line of business in compliance with the relevant regulations on anti-money laundering (“AML”) and counter-terrorist financing (“CTF”).
• Ensure quality assurance is in place on transaction monitoring and transaction/customer name screening
• Coordinate BCP / DR testing

Process

• Country Process Owner for all AA processes, and present in the relevant risk committee
• Own and design FCC AA processes, controls and standards for adhering to Risk Type Frameworks and Policies set by the Second Line relating to Group Transaction Monitoring and Group Screening Standards
• Ensure systems and processes meet risk data aggregation, risk reporting and data quality requirements set by the Second Line
• Implementation of investigation, surveillance and intelligence standards set by regulators and the Group FCC function (via processes defined by Group FCSO GPOs), and Country FCC
• Reporting Internal SARs for cases escalated through FCSO screening or transaction monitoring processes to Country FCC and Regional i3 teams.
• Develop, keep up to date and recommend for approval by the relevant Country RFO, appropriate policies/processes/DOIs to address financial crime risks, aligning with relevant regulatory requirements.
• Responsible for the implementation of FCC-related policies and procedures in Country/Business to ensure compliance with such policies and procedures.
• Ownership of end to end Country FCSO Processes as defined in the ERMF

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

• Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential.
• Promote and embed a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
• Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
• Ensure staff in [Region/Country/Department] have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.

Governance

• Attend relevant leadership meetings.
• Ensure tracking and remediation of surveillance and investigations related regulatory findings.
• Prepare and cascade lessons learned from audit findings, FCC assurance activities and specific investigations.

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.
• Lead the Pakistan FCC AML Monitoring and Surveillance unit 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.
• Maintain engagement with the Financial Monitoring Authority (FMU) for the purpose of STRs/SARs reported to FMU and any consequent inquiries raised by them.

Job: Operations