Head of AML Policy, WB Standard Chartered Bank - Singapore

Job Description

Head of AML Policy, WB is required to pursue continuous improvement in Wholesale Banking’s (WB) approach to reducing regulatory and financial crime risks in order to protect the reputation of the Bank and to avoid significant financial loss.

At Group level, FCR includes Risk Control Ownership for Anti Money Laundering (AML), Sanctions and Bribery. It also includes design and execution of the Group’s Speaking Up Programme, and conduct of investigations.

The Head of FCR, WB, is accountable to establish the Financial Crime Risk (FCR) management framework in WB, globally. The Senior Compliance Advisor is responsible to execute aspects of the framework. The role holder:

• Is globally responsible for the WB Customer Due Diligence (CDD) standards and for managing the interface with Country Compliance to ensure that those standards are amended to meet country regulations where required
• Manages the interface with OCC for the building into eCDD of the WB CDD Standards
• Defines training requirements for CDD
• Establishes a structure to deliver effective advice on CDD procedures to WB Regional AML Advisors and the FCR and Compliance networks
• Supports senior management decision making on high risk issues
• Ensures effective escalation within the Bank
• Provides and interface from WB to Group technical experts on Sanctions and Bribery
• Supports Country Compliance and FCR teams in managing regulatory relationships where FCR issues are in issue
• Supports efforts to position the Bank as an industry leader in the eyes of regulators and industry stakeholders

In support of this framework, the role holder must contribute to:

• oversee the mechanisms to ensure that the Wholesale Bank's FCR policies and procedures globally remain up-to-date and in compliance with laws, regulations and industry best practice
• lead special projects or work streams associated with FCR
• identify risks within the Wholesale Bank FCR framework and oversee solutions to mitigate those risks
• liaise with the internal audit function to ensure that any FCR weakness identified by the internal audit function relating to the Wholesale Bank global activities are appropriately followed up
• establish an effective interface with the existing Financial Crime Risk and money laundering prevention officers of the Standard Chartered Group
• respond to ad hoc questions from the business, in liaison with Country FCR and Group Sanctions Advisor as necessary

Knowledge development and information management

• Offers subject matter expertise, drawing on FCR networks, professional qualifications and experience
• Ensures that policy and procedure align to industry best practice
• Develops meaningful measurement and performance monitoring systems for financial crime risk, drawing on tools from the risk management discipline
• Ensures effective escalation within the Bank

Partnership

• WB Legal & Compliance network
• Wholesale Bank management
• OCC COO and team
• WB Operational Risk
• WB Audit
• Regional Heads of FCR
• FCR Operations
• Group Sanctions Advisor
• Head of FCR, Consumer Banking, on alignment of policy
• Group FCR Policy and Standards
• Regulators
• Peers in other banks

Desired Skills & Experience

The Senior Advisor ideally has AML experience gained in a bank, leading regulator or a professional services firm.

Relevant skill sets include:

• Specialist Financial Crime Risk Management
• Financial Crime Risk Governance and Assurance
• Financial Crime Risk Reporting and Monitoring
• Promotes awareness of Financial Crime Risk and Prevention
• Leadership & Management

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