Director, Financial Crime Risk Specialist, CFCC

Standard Chartered Singapore; Singapore; On-site; SGD 120,000 - 180,000; Full time

Job summary

Standard Chartered Singapore is seeking an FC Risk Specialist to support the Country Head of FCC in executing responsibilities across the CFCC target operating model. The role emphasizes MAS 626 advisory input and second line oversight to strengthen AML/CFT controls.

You will engage with internal governance forums and external bodies, influence policy adoption, and coordinate risk assessments with CFCC Business Advisory teams to ensure regulatory alignment and robust risk management across the

Qualifications

• Experience with MAS 626 and advisory roles within financial crime risk.
• Strong understanding of second line of defence in financial institutions.
• Proven ability to liaise with regulators and internal governance bodies.

Responsibilities

• Provide oversight over FCC policies and regulatory compliance guidance.
• Coordinate governance matters and regulatory liaison with MAS and other authorities.
• Engage second line stakeholders to implement CFCC activities and TOM.
• Lead or participate in committee discussions (FCRC, ERC, BRC) and external forums.

Skills

MAS 626 advisory

Second line of defence

Regulatory liaison

AML/CFT knowledge

Stakeholder engagement

Risk management

Job description

Job Summary

The role of the FC Risk Specialist is to support the Country Head of FCC in the execution of their responsibilities. Other than surveillance (second line of defence – ACT), the Country Head of FCC is expected to play a largely oversight and consultation role with leverage to be placed on CFCC Advisory and CFCC Governance from a second line perspective.

The Successful Candidate Is Expected To

• Effect ongoing engagement and alignment among the second line to support functioning of the CFCC Target Operating Model. In addition to BAU interaction, the successful candidate drives a monthly meeting among the second lines. To discharge this responsibility well, the successful candidate should be a subject matter expert in MAS 626 particularly from an advisory perspective.
• Provide cover for the multiple initiatives and engagements that the Country Head of FCC has to attend to. These include representations in external forums such as the various AML / CFT Industry Partnership (‘ACIP’) working groups and internal forums such as the Financial Crime Risk Committee (‘FCRC’), Executive Risk Committee (‘ERC’) and Board Risk Committee (‘BRC’). The FC Risk Specialist will also take an active part in the Singapore FCRC committee, both planning and discussion in the forum.
• Support the Head FCC to influence the adoption of necessary enhancements and measures following outcomes of the various initiatives and engagements as stated above. Given the Target Operating Model (‘TOM’) of Conduct, Financial Crime and Compliance (‘CFCC’), the successful candidate has to skilfully engage, assess and challenge the adoption by the first line where appropriate and primarily influence via fellow second line colleagues.
• Act as the key FCC advisory subject matter expert coordinator (in conjunction with the CFCC Business Advisory teams) to maintain oversight and conduct regulatory gap analysis of local MAS AML/CFT changes against Group requirements, and ongoing maintenance of related Policies and Standards. And as required, undertake thematic end to end desk top thematic reviews with CFCC Business Advisory teams for various business segments at the direction of the Country Head of FCC. In addition to knowing the relevant regulatory expectation and guidelines and internal framework, the successful candidate is expected to engage primarily internal subject matter expert stakeholder.
• Proactively engage fellow second line colleagues particularly on the adoption of new business strategies and like initiatives from a financial crime risk perspective. This requires the candidate to be interested in market trends and developments.
• Be the designated Anti-Bribery & Corruption (“ABC”) Country lead to support the Country Head of FCC to manage ongoing queries various business and functional units, perform annual exercises like the Enterprise wide risk assessment and Intermediaries attestation for ABC risk as well as partake/lead thematic ABC projects and reviews in conjunction with regional ABC team.
• Act as one of the delegated regulatory liaison contacts with Regulator and/or related Authorities on FCC-related matters.
• Responsible for FCC control monitoring to drive and maintain a high quality of FCC activities undertaken, while aligning to the applicable regulations and guidelines.
• Drive the AML / CFT uplift program in close collaboration with internal and external stakeholders, focussing to strengthen the AML/ CFT controls, including discussion with the MAS.
• Maintain oversight over the Rubik and the wider ASEAN Cluster FCC matters alongside key designated team members, and attend ASEAN FCRCs as / when required.

Key Responsibilities

Strategy

• Provide support & input to Group/Region/Country/Client Business operating model design of relevant FCC and business processes.
• Contribute to setting and implementing the vision, strategy, direction and leadership for the Country/Department, consistent with the vision and strategy for FCC and in support of the Group’s strategic direction and growth aspirations.

Business

• Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
• Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to FCC, providing timely, responsive and quality FCC regulatory compliance guidance.
• Ensure that risk frameworks and associated standards are effectively communicated and understood by process owners.

Processes

• Working in close partnership with CFCC Governance, Business Advisory, FCC Case Investigation and Control Operations and other stakeholder teams:
• Provide oversight over the determination of FCC-related policies and procedures
• Provide advice (and including via CFCC Business Advisory) to relevant stakeholders on compliance with Group standards and Singapore requirements relating to FCC risks
• Coordinate on governance related matters, in conjunction with CFCC Governance, including but limited to FCC Enterprise Wide Risk assessment, internal forum matters.

People & Talent

• 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.

Risk Management

• Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management
• Provide advice (typically via CFCC Advisory) on the application of risk management frameworks (e.g. ORF, GRA)
• Apply Group and SG FC policies and processes (AML surveillance, client screening, risk assessment) to manage risks
• Make recommendations (and/or implement) to relevant stakeholders (typically via CFCC Advisory) on possible risk management responses to identified risks and/or findings of concerns from investigations.
• Advise relevant stakeholders on outcomes of FC risks identification and assessment methodologies.
• Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.

Governance

• In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.

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.
• Effectively and collaboratively identify, elevate, mitigate and resolve risk, conduct and compliance matters.

Key stakeholders

• Regulators (including the MAS in particular)
• Financial Intelligence Unit and Law Enforcement Agencies
• CFCC
• Audit and 2LA
• Legal
• Regional and Group FCC
• First line Business Units
• Fraud Risk Management
• FCSO and FCC ACT Investigations
• Country and Group Technology
• Country Senior Management of relevant Committees, including the CEO / CEO’s Office
• Peers in other banks and wider industry

Other Responsibilities

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

Our Ideal