Organisation Description & Role Purpose SC Ventures (SCV) is spearheading the bank's digital innovation across the Group. Included in SCV's mandate will be to invest in Fintechs and other start-up companies, and promote rapid testing and implementation of new business models. Catalysts: Internal consultants will help the rest of the Group in problem-solving and spreading innovation best practices and client-centric design. The eXellerator innovation lab will be part of this group. Investments: A professional investment unit to manage the Group's minority investments in Fintech companies and to seek further investments in promising technologies.
Ventures: The Venture unit will sponsor and oversee new disruptive ventures that are wholly or partially owned by Standard Chartered. It will seek projects that amplify the bank's core strengths or where the bank can support a venture in a strategic way. Purpose:
This role will be focussed on assessing and implementing afit-for-purpose FCC compliance framework and processes for the Venture unit of SCV (see above).
It will take into account the SCB Group's FCC requirements as well as regulatory expectations and constraints incumbent on the Group.
It will balance this with what will likely need to be different approaches depending on the geographic and regulatory context and the FCC risk profile of the Venture.
To achieve fit-for-purpose FCC outcomes, it will liaise extensively with the CCO of SCV and Group FCC compliance to ensure comfort is reached with the FCC framework, the ongoing oversight and ongoing compliance risk assessments.
Drive and implement the vision, strategy and direction set by the Chief Compliance Officer of SCV and Group FCC by driving the implementation of the decision making process set out in the SCV FCC Governance paper. This includes decision-making as to whether the Venture is a regulated or unregulated subsidiary undertaking or not, and, if not, the design of a FCC compliance framework and methodology tailored to the geographic and regulatory context and the FCC risk profile of the Venture. Such framework will cover FCC risk identification, assessment, monitoring, training and product / business advice.
Recommend for approval by the SCV Committee, appropriate policies and processes for the Ventures to address FCC risks, aligning them with relevant regulatory requirements and Group expectations. Provide governance and oversight over the implementation of FCC related policies and procedures in the Ventures to ensure compliance with such policies and procedures.
People and Talent
Lead through example and build the appropriate FCC culture and values. Set appropriate tone and expectations from the SCV Compliance team and work in collaboration with risk and control partners. Ensure the holders of all critical FCC functions in the Ventures or the third party FCC vendors of the Ventures are competent, suitably skilled and qualified for their roles.
Identify and assess sources of FCC risks and ensure that systems and controls are appropriate to mitigate and manage risks within acceptable risk tolerance levels. Report on material FCC risks. Challenge and maintain the right balance between risk prudence and pace of innovation set by the new competitor landscape.
Ensure lessons learned from audit findings, FCC assurance activities and investigations are prepared and cascaded to relevant stakeholders. Provide timely oversight information to the SCV CCO on key FCC risks and control issues.
Regulatory & Business Conduct
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 SC Ventures team to achieve the outcomes set out in the Bank's 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.
CCO SC Ventures
CFCC Compliance SC Ventures
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