Head CDD & Liability Ops UAE

JOB SUMMARY

• Ensures that Retail Banking AML CDD and Client Tax Process and risks are effectively managed end to end in accordance with Group and local regulatory requirements. (Responsibility extends end to end across Hub and across other stakeholder groups where certain processes are executed)
• Directly accountable for risk management inherent in processes executed by CDD Operations teams (Country and Hub). Responsible for risk management inherent in processes executed by hub and other stakeholder groups through close oversight. Responsible for end to end AML CDD and Tax relating to the country.
• Assures AML CDD and Tax risk management through oversight and ensuring material risks are identified, assessed, mitigated, monitored and reported / escalated in accordance with the bank’s Risk Management Framework.
• Drive, coordinate and monitor initiatives, projects and actions to ensure the Bank operates in accordance with the relevant laws and regulations, Group / Country policies and standards, for the prevention of money laundering.

RESPONSIBILITIES

• Accountable for implementation and continued compliance with relevant laws and regulations (including changing AML regulations), policies, procedures and risk control requirements through application of consistent group and local regulatory standards
• Develop and manage a sustainable and scalable AML and CDD capability for the Country within GBS (CoE).
• Support Retail Clients business to ensure internal resources, systems procedures and controls are in place, documented and operating effectively to mitigate and prevent money laundering risk.
• Work closely with project teams / stakeholders to drive projects / initiatives related to AML, CDD, Tax and Sanctions area to ensure successful and timely delivery.
• Ensure Client due diligence reviews are performed in accordance with the laid down procedures
• Trains and provides business process and operational expertise and guidance to in-country teams in relation to understanding end to end AML CDD processes and their connectivity to Retail Clients AML CDD policy and procedure standards that impact their day-to-day business activities
• Management of all Audits (Internal and External), CFCCA reviews pertaining to AML CDD, Tax Compliance

Strategy

• Work hand in Hand with business stakeholders in executing tasks associated with AML/ CDD Life Cycle of the Customers
• Ensure proper functioning of day-to-day controls on client onboarding, CDD Reviews (PRR and DRR) as well as timely resolution of AML and other risk issues while ensuring all reviews are completed within the month with no overdue.
• Provide business management with professional advice on all aspects relating to breaches and irregularities that border on money laundering.

Business

• Work closely with Retail Business to understand their requirements and implement the programme to deliver the strategy while maintaining strong controls, processes, governance and risk management for the country.
• Work with COO office and Retail Business to maintain rigorous cost and investment discipline. Ensure prioritisation of issues around risk, control, investment, people, project and change management within the country.
• Provide business management with professional advice on all aspects relating to breaches and irregularities that border on money laundering.

Processes

• Lead and drive standardisation, automation and consolidation through re-engineering and process improvement initiatives for the country.
• Collaborate with Country Head, Client Onboarding to develop training programme and provide process and operational expertise and guidance to Business and functional teams to understand end to end AML CDD and Tax processes and relation to Retail Clients AML CDD Policy and Procedure Standards that impact their day-to-day business activities.
• Continuously improve productivity and efficiency of CDD Operations team, maintaining rigorous cost and investment discipline.
• Evaluate systems, processes, technical platforms and functionalities in compliance with regulatory and internal policy requirements as well as related procedures.
• Work closely with the hubs to ensure that end to end processes work seamlessly, efficiently and effectively.

People and Talent

• Ensure team structure / capacity is reviewed to ensure delivery of client outcomes. Support the identification, engagement and retention of high quality CDD professionals with succession planning for critical roles.
• 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.
• Lead through example and build the appropriate culture and values. Set appropriate tone and expectations from their team and work in collaboration with risk and control partners.
• Encourage and promote an active training and learning environment to facilitate excellence in risk management, risk awareness, behaviours and accountability.

Risk Management

• Ensure implementation of the OR Framework across managed processes
• Control AML CDD operations to meet risk tolerance thresholds set for processes managed
• Proactively manage risks and establish/ monitor controls to improve the overall state of the risk management and operating framework for country
• Ensure all CDD procedures in the country comply with Group Policies and Standards. Ensure proper and updated documentation in place for in-country policies and procedures.
• Ensure various CDD / AML / Sanction / FATCA risks are being actively prevented and detected in a timely manner on an end-to-end basis.
• Proactive in seeking regular assurance that areas of responsibility are performing to an acceptable risk and control standards.
• Manage in country or other remediation’s as required to ensure capability, process, or data/ docs are brought up to a best in class standard over time
• Recommend changes to the process control environment or to business practices, where necessary, to reduce the level of risk exposure to within the agreed appetite.

Governance

• Strong leadership capabilities and management skills, with the ability to deliver effective controls within CDD through both directly-managed and remote team.
• Provide oversight across country CDD team, ensuring compliance with the highest standards of regulatory and business conduct and compliance practices as defined by internal and external requirements. This includes compliance with local banking laws, other applicable laws and anti-money laundering regulations and guidelines.
• Embed the Group’s values and code of conduct in the country CDD team to ensure that adherence with the highest standards of ethics, and compliance with relevant policies, processes and regulations among employees forms part of the culture.
• Accountable for satisfactory closure of issues / gaps arising from Internal Audits, peer reviews and regulatory reviews for the country.

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 Singapore CDD team] to achieve the outcomes set out in the Bank’s Conduct Principles: [Fair Outcomes for Clients and The Right Environment].
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Other Responsibilities

Key Behaviours and Performance Indicators

• Deliver on strategic goals – targets as set out in current year Job Objectives
• Operate within cost budget
• Improved performance metrics (e.g. Cost income ratio, Revenue per staff cost, SLA’s)
• Engaged staff and reduced levels of attrition
• Delighted customers (e.g. customer loyalty score, external surveys)
• Live the Corporate Values and Code of Conduct
• Embed Fair Accountability process

Key Stakeholders

• Regional / Country Business Heads and Product Head, Retail Client segment
• Financial Crime Risk and Compliance team
• Operations, L&C and Customer Experience Management unit
• GBS partners
• Relevant members of Onboarding management team
• Internal IT partners supporting Retail Clients business
• In country governance forums (or other forums, as may be applicable)
• HR & L &TD team

External

• Auditors
• Regulators and other government departments/officials
• Industry partners, Banking Associations, etc
• Clients/Customers
• SCB outsourced vendors and Technology suppliers

Other Responsibilities

• Key Behaviours and Performance Indicators
• Deliver on strategic goals – targets as set out in current year Job Objectives
• Operate within cost budget
• Improved performance metrics (e.g. Overdue Metrics, Cost, Onboarding TAT, SLA’s etc)
• Delighted customers (e.g. customer loyalty score, external surveys)
• Live the Corporate Values and Code of Conduct
• Embed Fair Accountability process

Our Ideal Candidate

• CAMS
• Related AML, CDD and Tax Certifications

Role Specific Technical Competencies

• AML CDD and Tax