Executive Director CFCC Advisory

Job Description

The Role 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 Group s business.
• Proactively support and challenge the Group s businesses and functions to exhibit appropriate conduct, comply with regulatory and compliance requirements and strive to achieve fair outcome for the Group s clients.
• Evaluate the effectiveness of the Group s compliance efforts.
• Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
• Maintain constructive and effective relationships with Business Heads/ Business Chief Operating Officers ( COOs ) and/ or their teams and assist relevant Compliance Heads to interface with and support all key business stakeholders.
• Insofar as they relate to regulatory compliance, be responsible for providing details of developments giving rise to a material risk that serious regulatory breaches or breaches of risk tolerances (as agreed by the Board from time to time) may occur and notifying any such breaches to Global Head, Compliance, Wealth Management.
• 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 Funds (Mutual Funds, Hedge Funds and Private Equity) and Discretionary Portfolio Management (DPM) (all together known as Managed Investments Compliance, consistent with Global Head, Compliance, Wealth Management s vision and strategy for the Compliance function and in support of the Bank s strategic direction and growth aspirations.
• 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 within the Managed Investments business.
• Support and effectively challenge the delivery of the Managed Investments business strategy within the bank s risk appetite and in compliance with the relevant risk type frameworks.
• Provide support to Country CFCC teams support WM particularly as relates to funds and DPM
• Provide relevant support to ensure platforms rolled out under the Managed Investments business are fit for purpose and attendant risk is well managed
• Support and challenge the Business Risk Management team in management of non-financial risks, adhering to non-financial risk frameworks and embedding risk culture and knowledge across the Managed Investment business.
• Proactively identify and challenge the business to manage Financial Crime related risks in the Managed Investments business.

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 business 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 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.
• Regular and diarised catch ups with all key business stakeholders.
• Assist Global Head CFCC Advisory, Wealth Management in interfacing with and supporting stakeholders (Group Wealth Management team, in particular the COO s office and each of the Product Heads) in delivering the WM business agenda (projects, new business / product initiatives).
• Build and maintain close links with the country Wealth Management Compliance teams, raising relevant issues, including material transactions, conduct /fair accountability issues, people issues and business feedback, influencing and embedding global standards consistently throughout the WM Compliance function.

Processes

• Provide advice on Wealth Management Compliance policies and standards, to internal stakeholders and other segments. Review policy and/or standards dispensation requests, making recommendations to Global Head Compliance, Wealth Management. Work collaboratively with the Business, OR and other key stakeholders to develop Wealth Management policies and standards, as required
• Support the Global Head CFCC Advisory, Wealth Management to establish and maintain effective processes (including training, advice and support) to ensure that policies, procedures and standards to address Compliance risks (excluding financial crime) are effectively implemented and adhered to across Wealth Management.
• 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 and 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.
• 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.
• Responsibility to review team structure/capacity plans.
• Regularly and on a timely basis appraise performance of team members as well as proactively manage attrition when needed.
• Ensure regular and documented management meetings with direct reports.
• 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

Key Stakeholders

• Multiple regulatory authorities, e.g. Financial Conduct Authority, Prudential Regulation Authority, Monetary Authority of Singapore, etc.
• Senior WM Business Management
• Wealth Management Compliance team
• Group Internal Audit
• Global Head, CFCC Advisory Consumer Private and Business Banking (CPBB) and his/her team
• Regional Heads of WM CFCC Advisory and their teams
• Country CFCC Heads and his/her teams handling WM CFCC Advisory
• Private bank CFCC teams
• COO, Wealth Management and his/her team
• Head, Group Operational Risk, Wealth Management and his/her team
• Head, Group Risk, Wealth Management and his/her team
• Head, Legal, CPBB and his/her team
• Group Internal Audit, Wealth Management and his/her team
• External Law Firms and Consultants, where required
• External Auditors, where required

Other Responsibilities

• Embed Here for good and Group s brand and values in the Wealth Management Compliance Team
• Perform other responsibilities assigned under Group, Country, Business or Functional policies and standards.

Our Ideal Candidate

• Proven experience in compliance advisory or related area with strong regulatory knowledge
• 8+ years of experience in a regulated financial institution
• A degree in any field is an added advantage

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Keyskills :
marketingsalesbusiness developmentmanagementfinancecode of conductproduct life cyclerisk management frameworklaw firmslife cyclehedge fundsrisk controlnew businessinternal auditproduct design