Manager, Regulatory Identification Unit

at  Standard Chartered

JOB SUMMARY

This is a newly created role for 2023 within the Risk and Conduct, Financial Crime and Compliance (“CFCC”) COO team as a Manager, Regulatory Identification Unit working with the Director, Regulatory Identification Unit and the Global Process Owner for Managing Regulatory Change (“MRC GPO”) process and Head of Regulation Identification Unit (“RIU”) for Risk and CFCC.
The Manager RIU is mandated with the responsibility of managing the pre-requisite processes. Identification of new / amended regulatory changes from the agreed regulatory sources. Perform Initial Assessment, record the cases in the workflow/obligation tool and disseminate it to the appropriate stakeholders based on the Risk Type.
The RIU’s mandate is to provide centralised horizon scanning for Risk and CFCC regulatory developments and changes, and initial curation of regulatory content to RCT, Policy Owners / Standard Owners and Country CFCC Teams, for an agreed list of key regulatory authorities.
In accordance with the Risk and CFCC regulatory change target-state and remediation, the responsibilities of this role contribute towards the maintenance and managing the BAU of the RIU as per the pre-defined process and operating model across relevant frameworks.

SKILLS AND EXPERIENCE

• Minimum of 4 - 5 years of experience within Banking or Financial Services
• Knowledge of regulatory identification and their risk types
• Regulatory experience and understanding of global regulatory universe across Financial Services
• Strong data management, analytical and MI design and operational skills
• Strong interpersonal, relationship building, and influencing abilities
• Ability to collaborate and work dynamically across a broad range of stakeholders
• Ability to manage geographically dispersed stakeholder base with multi-cultural awareness and sensitivity
• Highly disciplined and structured with an outcome orientated mindset and approach
• Exemplary integrity, ethics, independent and resilience
• Understanding of agile ways of working

• Understanding the Bank’s Risk Taxonomy, Bank Policies and Standards, the impact regulatory developments have on these, assessing high level applicability of regulatory developments on the Bank and allocating these to the correct impacted stakeholders through a workflow tool
• Monitoring and reporting of regulatory change status against an agreed set of Turn Around Times (TATs) for taking action on impact assessments and Policy / Standard mapping
• Proactive and continuous engagement with Policy Owner / Standard Owner teams to provide guidance and direction on the overall Managing Regulatory Change (MRC) process and capabilities of RCMS (Group Obligations Register), including conducting refresher training
• Maintenance of Service Level Agreements with Policy Teams to ensure their horizon scanning sources and content exclusions remain relevant and accurate
• Assist in the design of RCMS capabilities, to enhance the effectiveness and usefulness of the Obligations Register and performance of UAT to ensure enhancements are operating as intended
• Performing, where needed, detailed operational analysis to identify any omissions / problems or areas for improvement
• Supporting in implementing the RIU action plans and measuring the results against predefined goals and key performance indicators
• Operate and manage the centralised horizon scanning for CFCC regulatory developments and changes, initial curation of regulatory content to RCT, Policy Owners / Standard Owners and Country CFCC Teams, for an agreed list of key regulatory authorities
• Act as a key contact point for all the RIU BAU matters
• Maintains a list of core regulatory authorities subject to periodic review with Policy Owners and relevant Group and Country stakeholders to ensure the regulatory publications issued by these authorities remain relevant and applicable to Group’s activities
• Responsible for defining and maintaining standardised regulatory publication taxonomy
• Periodic review of exceptions as part of Service Level Agreement (‘’SLA’’) to ensure continued accuracy
• Perform a high level rules-based applicability assessment which includes review of considerations for whether the publication is considered an exception
• Assigns a Principal Risk Type (‘’PRT’’) and Risk Sub-Type (‘’RST’’) for the publications deemed as applicable to SCB and assigns a priority based on regulatory authority and publication type
• Determines if a case is straightforward or Complex / LSRC based on the factors set out in MRC Standard
• Review allocation disputes and remediate the disputes with consideration from Regulatory Change Team (‘’RCT’’)