Associate Director, Second Line Assurance (2LA)

Employer
Standard Chartered Bank
Location
Singapore, Singapore
Salary
Competitive
Posted
26 Jun 2022
Closes
03 Jul 2022
Ref
15590612
Job Function
Compliance/Regulatory
Industry Sector
Finance - General
Employment Type
Full Time
Education
Bachelors
About Standard Chartered
We are a leading international bank focused on helping people and companies prosper across Asia, Africa and the Middle East.

To us, good performance is about much more than turning a profit. It's about showing how you embody our valued behaviours - do the right thing, better together and never settle - as well as our brand promise, Here for good.

We're committed to promoting equality in the workplace and creating an inclusive and flexible culture - one where everyone can realise their full potential and make a positive contribution to our organisation. This in turn helps us to provide better support to our broad client base.

The Role Responsibilities
Conduct, Financial Crime & Compliance (CFCC)'s vision is: Partnering to drive the right outcomes for clients and communities.
The Second Line Assurance (2LA) function within CFCC provides independent, effective, insightful and risk-based assurance across non-financial risk-types. Our vision is ONE approach, ONE plan, ONE mindset: a digital, commercial and risk based function that focuses on key risks that impact our clients, business and regulators; Insights that improve client experience and risk management; a talent bank recruiting, growing and delivering even stronger talent.
Strategy
  • Collaborate with and support their Head of Assurance or Head of Team, directly contributing to the overall strategy of the function through the development of the 2LA Annual Plan ("the Plan").
  • Proactively identify and communicate emerging CFCC risks as input to any periodic review of the Plan.
  • Contribute to any development of the 2LA Methodology ("the Methodology") as necessary; ensure that approved changes to the Methodology are communicated and cascaded to team members in their area of responsibility.
Business

  • When assigned to lead a Review, communicate outcomes to relevant stakeholders and support them in developing mitigating actions to correct identified issues.
  • Execute assigned review tasks within the designated business area; identify and record potential issues and ensure that these are formally evaluated according to the Methodology.
  • Actively engage in the Review processes, taking every opportunity to develop their knowledge and understanding of SCB Business and the execution of Assurance while delivering their tasks.
  • Ensure that key changes (to laws, rules, regulations) relevant to the execution of Assurance activities are communicated and cascaded to team members in their area of responsibility.
Processes
  • In coordination with Program Team, fully engage in the collection of the relevant information to develop risk-based assurance reviews, including participation in the 1st and 2nd Line Stakeholders discussions, gathering 1st and 3rd line testing, analysing the Global and Country Risk Assessment as applicable, to deliver consistency and efficiency across the consolidated plan
  • Undertake testing, preparation of working papers and other tasks as assigned by the Review lead during the course of the review.
  • Ensure that all work papers required for their assigned areas of responsibility are completed to required quality standards.
  • As required by the Methodology track issues throughout the issue lifecycle, capture and track the issue data in the relevant tracking tool and ensure the remediation of issues arising from assigned Reviews (and any other assigned task) is sustainable and validated before closure. In the event of a serious regulatory breach, or where risk tolerances have been breached, ensure their Head of Assurance is informed, and action is taken quickly to remediate - or related activities are ceased.
  • Work with their team to identify and propose control enhancements and / or simplifications where appropriate; support all control checks required under the Operational Risk Framework ("ORF").
  • Promote 2LA co-operation and partnership with GIA, regulators, peers and the industry.
  • Monitor quality standards for Review activities within their area of responsibility; recommend action to drive performance improvement where required.
  • Capture and communicate insights arising from Review execution; actively engage in driving improvement of the Methodology.
  • Drive skills management processes for managed staff, ensuring skills assessments are correctly completed and maintained.
  • Follow the spirit of the core principles for travel and expenses.
  • 2LA fieldwork may require international travel for extended periods of time.
People and Talent
  • As part of any review lead roles, promote and embed a culture of openness, trust, and risk awareness where ethical legal, regulatory and policy compliant conduct is the norm.
  • Stimulate and environment where forward planning prioritisation, deadline management and streamline workflows and collaborative, inclusive effective work practices are the nor m.
Risk Management
  • Support the development of capability to provide Assurance across all CFCC risk types.
  • Adhere to the required standards of risk management for the management of all Assurance processes.
Governance
  • Ensure that work delivered in their area of responsibility follows prescribed workflows and meets quality standards for the Assurance function with the required attention to detail and within the timelines set.
  • Swiftly escalate significant risks and issues arising from Assurance activities by notifying their Head of Assurance.
Regulatory & Business Conduct
  • Display exemplary conduct and live by the Group's Values and Group Code of Conduct.
  • Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across the Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

Our Ideal Candidate
  • Bachelor's degree or Equivalent required
  • Auditing, Risk Management, Compliance background required
  • Understanding of Data Analytics, Financial Markets, Conduct and Risk Culture topics will be an advantage.
  • Experience performing walkthroughs, risk assessments of the internal controls' environment, performing controls and substantive testing
  • Excellent verbal and written communication skills
  • Good knowledge of banking and investment product across client segments
  • Good knowledge of regional regulatory requirements, including recent regulatory reform
  • Previous review or assurance experience with 5+ years (compliance or audit reviews, operational risk reviews or testing, risk management)
  • Reasonable analytical skills, and confidence in interrogating data, processes and interviewing stakeholders.
  • Strong oral and written communication skills - ability to present complex information clearly and concisely
  • Takes responsibility, ownership and accountability for own tasks and work output.

Role Specific Technical Competencies
  • CFCC 10 Core Technical Competencies
  • Planning: Tactical, Strategic
  • Process Improvement
  • Relationship Management

Apply now to join the Bank for those with big career ambitions.

To view information on our benefits including our flexible working please visit our career pages . We welcome conversations on flexible working.

Similar jobs

Similar jobs

  • You need to sign in to save