Associate Director, Sanctions, GSRT Europe

Job Description

The Role ResponsibilitiesThe Group Sanctions Regional Team for Europe & Americas ("EA GSRT") provides advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and Group Sanctions Policy and Standards on an ongoing basis. Specific role responsibilities for this role include the following: Voluntary Self-Disclosures

• Manage the intake of potential Voluntary Self-Disclosures ("VSDs") for UK regulatory reporting purposes, including liaising with GSRT teams referring matters from UK overseas branches.
• Using advanced knowledge of the UK sanctions regulatory framework, conduct analysis of potential VSDs to identify the regulatory basis for potential sanctions breaches and, working with colleagues in Group Internal Legal ("GIL") identify and draft relevantmitigating circumstances.
• Draft and peer review VSD letters prior to submission to Head, FCC Europe Sanctions.
• Track responses from UK regulatory authorities, including the handling of requests for further information ("RFIs").
• Ensure that further action and no-further action letters are escalated promptly to relevant stakeholders including Group Internal Legal ("GIL") and GSRT management.
• Responsible for responding to seek advice queries for VSD related referrals in the Sanctions Case Management Tool.
• Responsible for monthly reporting of key monitoring risks and trends identified in VSD reporting and partners with stakeholders in developing appropriate risk mitigation strategies.
• Reviews and provides feedback on quarterly breach trending analysis and recommendations prepared by the Group Sanctions QCO Team.

Frozen Assets Reporting

• Ensures that reports regarding frozen assets for clients and non-clients are drafted and escalated to Head, FCC Europe Sanctions for review.
• Assists in reconciliation of all frozen assets in the UK and UK-overseas branches on a bi-annual basis and helps compile reporting for the OFSI annual frozen assets reporting exercise.
• Assists in the maintenance and tracking of frozen assets in the JIRA system.

General Activities - GSRT

• Works with stakeholders within FCC and Group Sanctions to support units in delivering the sanctions agenda.
• Works with FCIIU and FCIU on continuous improvement of the referral process of sanctions referrals to FCIIU and FCIU and FCIU/FCIIU referrals to the US Sanctions Team and provides periodic training on best practices and trends.
• Provides advisory support to UK business lines on UK sanctions matters.

Strategy

• Optimize operational capabilities and employ strategies to maximize effectiveness and efficiency to transform and steer the firms sanctions compliance processes in a positive direction. Spearhead strategies to manage budget and resource allocation forthe FCC Europe Americas Sanctions Compliance organization; define and implement process improvements and new technologies and collaborate with various functions on systems implementations

Business

• Provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices, and Group Sanctions Policy and Procedures.
• Analyse comprehensive impact of anti-financial crime related regulatory matters on relevant business area(s) and its operations.
• Ensure that key changes (to laws, rules, regulations) are implemented (in region/country), in coordination with Group communications.
• Support relevant stakeholders to make decisions based on current internal and external requirements, practices and trends.

Processes

• Execute the strategy for the EA GSRT;
• Maintain and ensure effectiveness of Sanctions Compliance Program by defining reporting metrics, including Key Risk Indicators and Key Performance Indicators, to be used to monitor the health of the Program;
• Manage the VSD workstream and reporting.
• Manage OFSI Frozen Asset reporting.
• Maintain and further SCBs relationship with OFSI and SCBs point of contact for OFSI sanctions queries and OFSI Reporting.
• Proactively engage with the GSST on regulatory change and interpretation and application of regulatory expectations.
• Support general compliance activities across the organization and other duties, including special projects, as assigned;
• Global Subject Matter Expert for UK/OFSI matters e.g, with respect to Sanctions & Embargo laws and regulations, OFSI reporting etc.;

Risk Management

• Responsible for identifying, assessing, monitoring, controlling and mitigating risks to the Group. Also, an awareness and understanding of the main risks facing the Group and the role the individual plays in managing them.
• The ability to interpret the Groups financial information, identify key issues based on this information and put in place appropriate controls and measures.

Governance

• Responsible for assessing the effectiveness of the Groups arrangements to deliver effective governance, oversight and controls in the business and, if necessary, oversee changes in these areas
• Awareness and understanding of the regulatory framework in which the Group operates, and the regulatory requirements and expectations relevant to the role.
• Responsible for delivering effective governance; capability to challenge fellow executives effectively; and willingness to work with any local regulators in an open and cooperative manner.

Regulatory & Business Conduct

• Display exemplary conduct and live by the Groups 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 to achieve the outcomes set out in the Banks Conduct Principles : [Fair Outcomes for Clients; Effective Financial Markets; Financial Crime Compliance; The Right Environment.] *
• Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters with OFSI.

Key Stakeholders

Global Head - Economic Sanctions Compliance, FCC High Risk Clients and Emerging Threats

Regional Head, FCC, Sanctions Europe & Americas

Head, FCC Europe

Group Sanctions and Regional Sanctions Teams

FCC Controls

Corporate and Institutional Banking Key UK Regulators (OFSI,