Head of FCC, Egypt Branch

Job : Compliance
Primary Location : Africa & Middle East-Egypt-Cairo
Schedule : Full-time
Employee Status : Permanent
Posting Date : ‎29/Nov/‎2022, ‎4:19:‎35 AM
Unposting Date : ‎13/Dec/‎2022, ‎5:59:‎00 PM

The Role Responsibilities

Strategy
* Input to Group/Region/Country/Client Business operating model design of relevant FCC and business processes.
* Ensure that there is adequate support (people, processes, tools, frameworks, systems) in Egypt for necessary FCC controls.
* Set and implement the vision, strategy, direction and leadership for Egypt, consistent with the vision and strategy for FCC and in support of the Group's strategic direction and growth aspirations.
Business
* Analyse comprehensive impact of financial crime related regulatory matters on the relevants business area and its operations.
* Ensure that key changes (to laws, rules, regulations) are communicated and cascaded (in region/country), in coordination with group communications.
* 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.
* Support resolution of competing requirements between regulations, for example between AML regulations and data privacy/bank secrecy or information security regulations.
* Manage all related FCC advisory for countries within the cluster and escalate to the FCC Cluster Head and FCC Regional and & Product Heads where necessary.
Processes
* Providing support to the Compliance function in Egypt and providing the Management with confidence that businesses and functions are operating within prevailing laws, regulations and operational risk tolerances, that operational risk management practice is consistent with Group Standards, and that associated control effort is proportionate to risk.
* To provide independent assurance of compliance to internal and external obligations through Compliance Monitoring Reviews.
* Establish and maintain frameworks within Egypt to ensure compliance with applicable banking regulations, internal policies, standards and codes so as to protect the reputation of the bank with its regulators and balance the needs of other stakeholders.
* Develop, keep up to date and recommend for approval by the relevant Risk Committee, appropriate policies/processes/DOIs to address financial crime risks, aligning with relevant regulatory requirements.
* Providing governance and oversight over the implementation of FCC-related policies and Standards in Egypt to ensure compliance with such policies and Standards.
* Act as Process Owner for FCC-owned (sub-) processes under the Group's Risk Management Framework, including implementation and roll-out of relevant processes and DOIs.
* Provide advice to relevant stakeholders on compliance with Group standards relating to [AML/Sanctions/ABC/Fraud].
* Act as (second line) Risk Control Owner under the Group's Risk Management Framework for those aspects of Regulatory Compliance relating to [AML/Sanctions/ABC/Fraud], and escalate issues as appropriate.
People & Talent
* 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.
* Collaborate with training teams to input to training curriculum to support closing of capability gaps.
* Develop communications strategies and plans that deliver timely and relevant messages to the right stakeholders through appropriate activities and channels.
* Ensure Egypt is adequately resourced and staffed by an appropriate number of competent staff sufficiently independent to perform duties objectively, to support sustainable business growth and address financial crime risks.
* Ensure staff in Egypt have clearly articulated and well understood roles and responsibilities through meaningful and accurate job descriptions.
Risk Management
* Maintain oversight of risk mitigating action plans.
* 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.
* Ensure that detection scenarios that are developed and deployed are fit-for-purpose.
* Establish and maintain watch lists used for customer and transaction screening and various other due diligence and investigative purposes (local/regional internal and external).
* Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
* 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 identified risks and/or findings of concerns from investigations.
* Assess risks arising from products / segments / geographies / customers / transactions.
* 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 financial crime that may have a significant impact on the Group and develop effective strategies to mitigate such horizon risks.
* Identify intelligence for typology studies and risk mitigation plans.
* Conduct Country risk assessment.
* Map risks, quantify the potential impact and escalate where necessary.
* Advise relevant stakeholders on outcomes of [AML/Sanctions/ABC/Fraud] risks identification and assessment methodologies.
* Deliver/ support delivery of annual Global AML, ABC and Sanctions Risk Assessments.
* Partner with legal counsels for advice on technical matters.
* Conduct a root cause analysis on the control/other failures to ensure lessons are learned across the bank.
* Provide intelligence (to internal forums) on specific clients, client-types and emerging risk typologies.
* Provide intelligence inputs to support calibration of bank's Risk Methodologies (including aggregate client risk, product risk and country risk assessments).
* Oversee the review and analysis of the client base to identify and manage high risk clients, or specific country reviews.
Governance
* Attend relevant leadership meetings.
* Provide [or support] senior oversight of FCC region/country/function.
* Ensure tracking and remediation of surveillance and investigations related regulatory findings.
* 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.
* Prepare and cascade lessons learned from audit findings, FCC assurance activities and specific investigations.
* Track significant issues arising from FCC metrics, FCC Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
* Propose control improvements, enhancements and simplifications where appropriate.
* Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
* 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 and thus drive remediation action within the FCC function.
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 Egypt FCC teams 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.
Project/Change Management
* Lead or influence significant programmes of work in support of the financial crime compliance objectives.
* Review new business requirements and provide solutions where required.
* Provide skilled resources to support project/programme delivery.
* Manage and protect business as usual (BAU) capability during change programmes, as well as during the execution and delivery of the Remediation initiatives through project phase and into BAU.
ABC Lead
* Oversee and monitor the implementation of the Group ABC Policy and Standards in Egypt, including documenting any gaps between Group standards to local regulatory & legal requirements;
* Communicate Group ABC Policy and Standards to staff; lessons learnt from Enforcement Actions; or any other ABC related Programme communications;
* Support the undertaking of the ABC Group Risk Assessment (GRA) and to develop corrective action plans for self-identified ABC issues and report to the relevant country risk committees;
* Ensure all relevant staff in Egypt are trained in the requirements of the ABC Policy and Standards and that training is updated as required by developments and changes in local law and regulation related to ABC;
* Provide oversight and monitoring of country-level ABC audit and assurance findings and progress of treatment plans;
* Execute roles and responsibilities as applicable in relevant ABC controls;
* Review Egypt ABC MI reports received from the CoE ABC Team and analyse the information to identify trends and develop commentary for presentation at CFCRCs or other relevant country governance forums;
* Escalation of ABC operational and programme risks and issues to in-country forums and to the ABC CoE team, as appropriate;
* Manage oversight of the ABC Operational Risk Framework in Egypt with assessments of Residual Risk Ratings ("RRR") as RO Delegate (at country level) with the Country PO and OR representatives, covering respective ABC Focus Areas;
* Maintain regular stakeholder engagement with segments and functions relevant to ABC in country; and seek opportunities to champion the ABC agenda, both internally and externally to the Bank.
Key stakeholders
* Protect and enhance the Group's reputation and image in Egypt
* Develop and deepen relationships with key clients and customers in Egypt, leveraging the CEO calling card
* Develop relationships with key stakeholders in country, including government officials, regulators, community leaders, industry bodies, political leaders and business leaders.
* Lead the development and execution of the Government and Regulatory Relationship Plan for both countries
* Establish and maintain a robust relationship with local regulators, industry bodies and relevant government agencies
* Leverage the opportunity provided by Corporate Social Responsibility to enhance the Group's internal and external reputation and indirectly influence the bottom line
* Champion the Group's brand and Here for good with clients, stakeholders and regulators
* Perform other responsibilities assigned under Group, Country, Business or Functional policies and Standards
* Maintain effective communication with key stakeholders, including Regional, Cluster and Country CEOs and staff
* Responsible for working with people within Egypt who have responsibility for other activities of the business: Group/Regional/Cluster/Country Function Heads, who are responsible for those policies, Standards and processes that they own that impact Global Banking in the Country.
Other Responsibilities

• Embed Here for good and Group's brand and values in Egypt; Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; deputise the MLRO when required.
  Our Ideal Candidate


• Academic or Professional Education/Qualifications; University Degree in Finance, Economics, Management, Law or equivalent area of study


• Licenses and Certifications/accreditations; i.e. internal/externally required (CAMS: recommended)


• Professional Memberships; i.e. required for roles for continuous development/ improvement/awareness of current practices etc


• Bank training; i.e. mandatory & developmental - role specific, and regulatory/compliance bank wide & role specific" FCC Academy certification,


• Languages; Business level English, Arabic
  Role Specific Technical Skills And Competencies


• Compliance Policies and Standards


• Compliance Advisory


• Compliance Review and FCC Assurance


• Surveillance (including Screening and Monitoring)


• Investigations


• Compliance Risk Assessment


• Regulatory Liaison


• Manage Change


• Manage Projects
  About Standard Chartered
  We're an international bank, nimble enough to act, big enough for impact. For
  more than ‎160 years, we've worked to make a positive difference for our
  clients, communities, and each other. We question the status quo, love a
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• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do.


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• Be better together , we can be ourselves, be inclusive, see more good in others and work collectively to build for the long term.
  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-off including annual, parental/maternity (‎20 weeks), sabbatical (‎12 weeks maximum) and volunteering leave (‎3 days), along with minimum global standards for annual and public holiday, which is combined to ‎30 days minimum.


• Flexible working options based around home and office locations, with flexible working patterns.


• Proactive wellbeing support through 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 culture to 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.
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