Cntry Compliance Manager/CDD Advisor in Lagos, Nigeria

at Standard Chartered Bank

Industry
Banking / Financial Services
Specialization
Banking
Minimum Qualification
Bachelor's Degree
Required Experience
7 - 10 years
Employment Type
Full Time
Gender
Male or Female

Job Description

Drive, coordinate and monitor initiatives and actions to ensure the Bank operates in accordance with the relevant laws and regulations, policies and standards including those relevant to the prevention of money laundering.

Responsibilities

Regulatory Risk Identification and Policy Setting

•Leads in the identification of material regulatory risks in-country through measured analysis of factual scenarios and / or documentation.
•Anticipates, assesses and communicates key regulatory risk trends in-country, for management consideration, and drives the development and implementation of appropriate mitigation control measures.
•Identifies new banking regulations and laws and ensures the implications are appropriately notified to all relevant parties.

Regulatory Relationship Management

•Manages and develops the relationship with the country’s Regulators, along with the Country Head of Compliance, according to the Regulatory Relationship Plan.
•Builds trust through meeting regulatory commitments and having regular briefings with regulators.
•Ensures the Bank is properly prepared for Regulatory inspections and coordinating the response with the business.
•Coordinate and anchor the routine and ad-hoc regulatory supervision, investigation and enquiries.
•Maintain a good working relationship with the relevant authorities, regulatory bodies and enforcement agencies (e.g. Central Bank, NDIC, SEC, Financial Intelligence Unit, Police, etc).
•Support FCR Operations on SARs and related investigations.

Regulatory Advice

•Provides timely regulatory advice and recommendations on key issues (including on Prudential Regulation, in partnership with CB Business & Functions) and proactively monitors regulatory developments.
•Provides guidance on proper application and interpretation of banking laws, regulations and policies applicable to the CB Business.
•Ensure AML regulations, policies and requirements are clearly communicated to management and staff members.
•Set control standards and provides advice on the development of appropriate controls for the mitigation of regulatory risks.
•Assists in overseeing relevant administration and licensing as required by the local regulatory requirements.

Regulatory Compliance Training

•Delivers or procures delivery of a program of activities that educates and encourages managers and staff to operate in compliance with relevant laws, regulations and policies. Such training would include key group compliance and regulatory issues, for example Outsourcing, Senior Management Responsibilities and Code of Conduct.
•Manage, coordinate and deliver appropriate training programme to ensure staff members are sufficiently trained to apply and administer AML related controls in their day to day business activities.
•Assists in the development of an effective country-wide compliance culture by promoting the benefits of ethical business conduct and the benefits of compliance

Compliance Monitoring

•Establishes and coordinates the risk-based Compliance Monitoring Plan to include: relevant ORA, business specific compliance reviews, other functional compliance reviews, routine checks and approvals.
•Coordinates and performs Regulatory Compliance Reviews in businesses, branches and functions.
•Ensures all Control Room procedural requirements are met, including PDRs and disclosure requirements.

Compliance Reporting

•Prepares regular and accurate reports that demonstrate understanding, provide clear analysis and are escalated to the relevant risk managers and governance bodies.
•Handles ad hoc enquiries and surveys as requested by the regulators from time to time.
•Reporting to Country, Group and management on the country overall AML status. This includes reporting of AML metrics, trends and risks (both existing and emerging) for management actions and decisions.

Compliance Business Partnering

•Uses general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions, and to keep the local regulator updated on developments in the businesses.
•Assists the Country Head of Compliance and Senior Management in ensuring that the Bank operate in accordance with the relevant local requirements and Group regulatory compliance standards, so as to protect and enhance the reputation of the Bank.
•Assist country management to ensure internal resources, systems, procedures and controls are in place, documented and operating effectively in order to mitigate money laundering risk. Co-ordinates implementation of country level programmes and initiatives to enhance AML awareness and effort.
•Provides support to business in complying with the new and changing regulations, as well as group policies and standards.
•Proactively drives the development and maintenance of good relationships with internal and external stakeholders at appropriate levels and ensures an open and cooperative environment.
•Ensures close working relationship with the business, operational risk and FCR resources and ensures that there is a clear delineation of duties and responsibilities among various parties.

CDD Advisory Services

•Support the Business CDD process through review and advisory services
•Anchoring and supporting the Banks CDD infrastructure.
•Providing advice at on-boarding and continuous customer monitoing on risk classification.
•Provision deferrals, dispensations and approval where required by the Business & Functions.
•Using general knowledge of business products undertaken in the jurisdiction to work with business compliance specialists to respond to regulatory questions and to keep the local regulator updated on developments in the business.
•Work with the Country Head of Compliance and Senior Management in ensuring that the Bank operate in accordance with the relevant local requirements and Group regulatory compliance standards in relation to KYC/CDD.
•Assist country management to ensure internal resources, systems, procedures and controls are in place, documented and operating effectively in order to mitigate money laundering risk. Co-ordinate implementation of country level programmes and initiatives to enhance AML awareness and effort.
•Provide support to business in complying with the new and changing regulations, as well as group policies and standards.
•Proactively drives the development and maintenance of good relationship with internal and external stakeholders at appropriate levels ensuring our KYC/CDD are in compliant.
•Ensure close working relationship with the business, operational risk and FCR resources and ensures that there is a clear delineation of duties and responsibilities among various parties.

Requirements

Academic Qualification: First Degree in any numerate discipline. Post qualification is an added advantage.

Years of Experience: Not less than eight (8) years post qualification experience.

Nature of Experience: Experience in Compliance and Regulatory Reporting, Operations, Legal, Finance or Risk Management.

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