Director, Suitability Lead, Compliance Surveillance
•Help the Group meet its commitment by building a sustainable suitability surveillance 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 product suitability surveillance function, execute the relevant aspects of the Compliance surveillance framework through robust independent risk control 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 product suitability surveillance efforts.
•Support the management of the regulatory relationships with each of the regulators, whose rules the Group is subject to.
•Overall leadership and functional responsibility for all members of the suitability surveillance teams.
•Maintain independence, deliver timely responses, and timely escalation of risks and issues where they feel risk management tolerance of the firm are exceeded.
•Support and implement the vision, strategy, direction and leadership for Suitability Compliance Surveillance, consistent with Head of Sales & Suitability Compliance Surveillance’s vision and strategy for the Compliance surveillance function and in support of the Bank’s strategic direction and growth aspirations.
•Promote the culture and practice of suitability surveillance 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.
•Establish and maintain effective processes (including training, advice and support) to ensure that processes to identify suitability risks are effectively implemented and adhered to.
•Ensure that analysts are equipped with the skills and tools to conduct effective suitability surveillance to identify mis-selling risk within the Bank.
•Employ a risk-based approach in reviewing the adequacy of the PvB Suitability Surveillance programme globally.
People and Talent
•Lead through example and build the appropriate culture and values. Set appropriate tone and expectations for the 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.
•Set and monitor objectives for staff and provide feedback in line with their performance against their responsibilities and objectives.
•Regularly and on a timely basis appraise performance as well as proactively manage attrition when needed.
•Ensure regular meeting with team members.
•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.
•Ensure teams are adequately resourced and capacitised.
•Support Risk Owner under the Group’s Risk Management Framework for Suitability Surveillance processes.
•In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management are informed.
•Provide updates to Surveillance Heads and Group Advisory Compliance on key suitability risks and issues.
•Ensure all issues and matters are tracked, followed up, regularly assessed and reported on.
Regulatory & Business conduct
•(This is mandatory standard wording, please tailor wording in brackets, do not remove).
•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 Trade Surveillance 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.
•Compliance Surveillance Leads
•Head of Compliance Surveillance
•Group Private Banking / Wealth Management Advisory Compliance
•Group Operational Risk
•Group Internal Audit
•External Auditors / Regulatory Authorities as required