Director - CFCR Advisory IBU GIFT city

Standard Chartered; Mumbai; On-site; INR 15,00,000 - 20,00,000; Full time

Job summary

A leading international bank in Mumbai seeks a Compliance Function Lead to oversee compliance frameworks, manage regulatory relationships, and ensure adherence to local regulations. The ideal candidate should possess a post-graduate degree and significant experience in regulatory compliance. This role is vital for maintaining the integrity of the bank's operations and ensuring that all products comply with local and international regulations.

Benefits

Competitive salary

Annual leave and parental leave options

Flexible working options

Wellbeing support programs

Continuous learning opportunities

Inclusive workplace culture

Qualifications

• Experience in regulatory compliance and risk management.
• Strong communication and relationship management skills.
• Ability to provide strategic direction and advice.

Responsibilities

• Build a sustainable compliance framework for the organization.
• Maintain relationships with regulators and ensure adherence to regulations.
• Provide robust challenges to senior management regarding compliance.

Skills

IFSCA Regulation

FEMA regulations

Knowledge of PRA/FCA

FPI regulation from SEBI/RBI

ODI regulation from SEBI

Sanction regulations

SEZ rules

Education

Post Graduate in Any Discipline

Job description

Job Summary

Heading the CFCR dept in IBU -GIFT city in advising the various stakeholders in IBU and act as an independent second line risk control function, execute the relevant aspects of the Compliance 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 business.

Key Responsibilities

• Help the Group meet its commitment of being “Here for Good” by building a sustainable compliance 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 Compliance 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 business.

• Proactively support and challenge the Country businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Country clients.

• Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.

• To ensure products and services offered in IBU comply with local regulation and cross border requirements if any through the Product Programme process/country addendum.

• Maintain constructive and effective relationships with Business/Product/Ops and COO assist relevant Compliance heads to interface with and support all key business stakeholders.

• Responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances may occur and notifying any such breaches to Head, Compliance ,India.

• 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 Compliance teams, consistent with Group Compliance vision and strategy for the CFCR function and in support of the Bank’s strategic direction and growth aspirations.

• To provide support to Business Heads and other risk owners to ensure that they establish and monitor appropriate arrangements for meeting regulatory obligations and high standards of conduct in their businesses, in accordance with Group compliance standards/local regulatory requirement.

• 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.

• To enhance the Bank’s relationships with its regulators as they affect its business in India, so as to maximise the benefit to the Group flowing from those relationships.

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 CIB &WRB 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.

Processes

• Establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address all compliance risks effectively implemented and adhered to across business.

• 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 & Talent

• 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.

• Develop a backup for the role.

Risk Management

• Act as Risk Owner under the Group’s Risk Management Framework processes where Compliance is the second line Risk Owner.

• Ensure effective management of compliance matters, and in collaboration with the rest of the Compliance team, effectively manage regulatory issues that have a significant impact on the Bank.

• Collaborate with the other Products Compliance teams and Group Compliance Management Group 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 IBU business.

• Provide reports to relevant OGMG and FORF,CRC and management group on key compliance risks and issues.

• Maintain adequate management MI / trackers across all aspects of their coverage and responsibility to ensure all issues and matters are tracked, followed, regularly assessed and reported on.

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 and financial crime) risks across

• Develop and recommend (for approval by the relevant Risk Committee), appropriate compliance policies and procedures relevant to IBU business.

• 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.

• Lead the Compliance teams 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

• Risk
• Internal Audit
• Regulators
• Business team
• Product Team
• Legal Team

Other Responsibilities

• Embed Here for good and Group’s brand and values in IBU Compliance Team.
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.

Skills and Experience

• IFSCA Regulation
• FEMA regulations
• Parent regulator like PRA/FCA knowledge
• FPI regulation from SEBI /RBI
• ODI regulation from SEBI
• Sanction regulations
• SEZ rules

Qualifications

Education Post Graduate In Any Discipline with Relevant Experience
Languages English

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 thingand 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-offincluding 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 workingoptions based around home and office locations, with flexible working patterns.
• Proactive wellbeing supportthrough 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 cultureto 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.