About Standard Chartered We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.
To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.
We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.
The Role Responsibilities
Responsible for managing the Conduct, Financial Crime and Compliance (CFCC) function in Saudi Arabia.
Responsible for providing support to the delivery of the SCB financial crime risk framework in Saudi Arabia. Financial crime risk for the purpose of this role covers: anti-money laundering, countering terrorist financing, countering weapons proliferation financing, compliance with financial sanctions and asset freezes; and anti-bribery.
Responsible for providing a single interface for the function's stakeholders (including those in the businesses) for all Compliance issues and risks in Saudi Arabia.
Drive and implement the vision, strategy and direction set by the Regional Head, CFCC, AME for the Compliance function in Saudi Arabia, and align it with the broader strategic agenda of the Group and Saudi Arabia business.
Ensure that there is adequate support (people, processes, tools, frameworks, systems) in Compliance Saudi Arabia to support sustainable business growth and address Compliance risks.
Promote the culture and practice of compliance with 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
In conjunction with the relevant stakeholders, analyse the impact of regulatory compliance matters on the bank and its operations.
Ensure that key changes (to laws, rules, regulations) 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.
Ensure appropriate advice is provided to the relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to Compliance.
Develop, keep up to date, and recommend for approval by the relevant Risk Committee, appropriate policies/processes/DOIs to address Compliance risks, aligning them with relevant regulatory requirements.
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).
Provide governance and oversight over the implementation of Compliance-related policies and procedures in Saudi Arabia to ensure compliance with such policies and procedures.
People and Talent
Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from the Saudi Arabia Compliance 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.
Employ, engage and retain high quality people, with succession planning for critical roles.
Responsible for reviewing team structure/capacity plans.
Set and monitor job descriptions and objectives for direct reports and provide feedback and rewards in line with their performance against those responsibilities and objectives.
Regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
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.
Act as Risk Owner under the Group's Risk Management Framework for Regulatory Compliance Processes.
Identify and assess sources of regulatory risks and ensure that systems and controls are appropriate to mitigate and manage risks within acceptable risk tolerance levels. Report on material regulatory, compliance risks.
Implement and support, in collaboration with senior managers, effective programmes for compliance monitoring, surveillance and assurance in Saudi Arabia.
Maintain oversight of risk mitigating action plans.
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 Compliance that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks.
Advise the Head, CFCC, MENA and CEO, Saudi Arabia (where relevant) on material Compliance issues (as required) and to ensure appropriate steps are taken to manage and/or mitigate the issue.
Provide senior oversight of the Compliance function in Saudi Arabia including the various Group Compliance frameworks and programmes within Saudi Arabia.
Ensure lessons learned from audit findings, Compliance assurance activities and specific investigations are prepared and cascaded to relevant stakeholders.
Keep up to date on local issues that could contribute to Regulatory Compliance vulnerability and horizon risks and consider implications for policies and procedures from a business, risk, compliance and culture perspective.
Provide timely, relevant and accurate management information to Regional Compliance senior management and CEO, Saudi Arabia on key regulatory risks and control effectiveness.
Support the product programme and country addendum framework in Saudi Arabia.
Attend relevant governance meetings
Regulatory relationships and regulatory change
Responsible for regulatory relationships in Saudi Arabia, including regulatory inspections management, and identification of regulatory reform initiatives with significant impact on Saudi Arabia.
Manage and develop the relationship with the country's regulators in accordance with the Government & Regulatory Relationship Plan ("GRRP").
Ensure the GRRP is effectively executed.
Support the CEO Saudi Arabia in ensuring proactive regulatory engagement and in establishing an effective regulatory relationship plan in Saudi Arabia.
Execute and implement functional best practices around regulatory inspections.
Ensure proactive and timely identification, assessment, advice and dissemination in accordance with the respective Group framework, of evolving regulatory changes/practices and associated risks in and relating to Saudi Arabia.
Ensure proactive engagement in regulatory reform, including ensuring identification and escalation of regulatory reform proposals, participation in local internal regulatory relationship and reform forums, and memberships of local external industry forums.
Anti-Bribery and Corruption Responsibilities
Communicate ABC Policy and related Procedures to Staff;
Identify additional and/or stricter country anti-bribery regulatory or legal requirements;
Where required, prepare country addenda to ensure compliance with local anti-bribery laws and regulations;
Ensure all relevant staff are trained in the requirements of this Policy and related country anti-bribery addenda and that this training is updated when required by developments and changes in local law and regulation related to ABC.
Oversee and monitor the implementation of this Policy and its associated Procedures; including documenting any gaps between Group standards to local procedures/and local 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.
Lead the Saudi Arabia Compliance team to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
Saudi Arabian Monetary Authority
Head, CFCC, MENA
CEO, Saudi Arabia
Heads of Businesses and Functions in Saudi Arabia
Embed Here For Good and the Group's brand and valued behaviors in the Saudi Arabia Compliance team.
Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
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