Job Title: Head, Retail Clients Legal & Compliance
Standard Chartered PLC is a British multinational banking and financial services company headquartered in Hong Kong, China. It operates a network of over 1,700 branches and outlets (including subsidiaries, associates and joint ventures) across more than 70 countries and employs around 87,000 people. It is a universal bank with operations in consumer, corporate and institutional banking, and treasury services. Despite its UK base, it does not conduct retail banking in the UK, and around 90% of its profits come from Africa, United Kingdom, United States and the Middle East. Standard Chartered Bank Uganda is the longest established international bank in the country; the first branch was opened in August 1912. We had 11 branches up to 1972 and retained only one branch during the turbulence of the 70s. In 1998 we acquired 4 branches of former Cooperative Bank in November 1999. Standard Chartered Bank Uganda today has a network of 11 branches in Kampala, Jinja, Mbale, Mbarara and Gulu. Standard Chartered Bank Uganda has 29 ATMs and over 600 staff.
Job Summary: The Head, Retail Clients Legal & Compliance will;
- Offer legal and compliance support to the SCB business
- Take responsibility for, and lead the management of, SCB legal and compliance risk in-country
- Establish and maintain in-country frameworks to ensure SCB business compliance with regulatory requirements and internal compliance policies and procedures
- Take lead, promote and manage a culture and practice of Compliance and ethical conduct within the SCB business.
- Ensure that the CB business is conducted in accordance with all laws and regulations and the ethical standards adopted by the SCB Group.
- Implement, the vision, strategy and direction set by the Head Compliance and Consumer Banking
Key Duties and Responsibilities:
- Serve as the primary focal point of reference, advice and support for CB legal and compliance issues raised by CB business, Country Legal, Country Compliance, CB Central L&C Team and other stakeholders. Provide legal and compliance advice, briefings, recommendations and reports on material legal and compliance risks and issues to all stakeholders
- Significantly contribute to the effective management of legal and compliance risks in-country through active participation at the CB BORG
- Use technical knowledge of all CB business products offered in-country to provide sound, legal, compliance and transactional advice to the CB business
- Ensure material legal and compliance risks are identified and appropriately mitigated in product approval processes. Review and approve the Country Addenda of Product Approval Documents for local and cross-border regulatory risks
- Anticipate the impact of legal and regulatory developments on the CB business and communicate their impact to the CB business
- Promote active cooperation with the CB business and within the function and encourage a collegiate working environment
Legal & Compliance:
- Offer technical guidance and assistance in the proper application and interpretation of laws and regulations applicable to the CB business
- Ensure proactive and timely monitoring, identification, dissemination and advice of legal and regulatory developments, changes and practices and associated risks
- Ensure adequacy of controls to mitigate legal and compliance risks and roll out legal and compliance policies and procedures in-country.
- Establish and maintain effective processes, including training, advice and support, to ensure that legal and compliance policies, procedures and standards are effectively implemented in-country
- Technically support the Country Head of Compliance in delivering the Regulatory Relationship Plan and ensuring CB business strategy and key initiatives are included as part of the Plan
- Support the preparation of regulator’s inspection of CB business by attending to information requests, pre-inspection questionnaires and enquiries during the regulator’s inspection
- Implement CB Compliance Monitoring Programme and ensure timely conduct of compliance reviews
- Assume active involvement in management of critical issues that have a significant regulatory impact on SCB’s business operations within the country
- In the event of serious regulatory breaches, or where risk tolerances have been breached, responsibility for ensuring the relevant CB business and senior management are informed and that actions are taken quickly to remediate and/or activities are ceased
- Work closely with Country Head of Legal, Country Head of Compliance and Group Legal teams to ensure coverage of all legal and compliance work related to acquisitions undertaken at country level
- Work in liaison with Country Head of Legal and CB business Heads to ensure the coverage of all legal work which is not specifically aligned to one business, e.g. non-material disputes, HR legal issues, commercial contracts, acquisitions and legal projects undertaken at country level
- Work effectively and proactively with the teams of other support function to manage all country legal and compliance risks
- Ensure that the engagement of external legal counsel is appropriate, effective and coordinated so as to minimise costs
- Develop appropriate forms of documentation for products and transactions in-country and support the creation of global standard documentation for CB
Training: Raise awareness of, and address, legal and compliance risks and issues by providing the CB business with business specific training on regulations and compliance policies
Qualifications, Skills and Experience:
- The candidate should hold a University degree
- Posses the ability to identify and dimension key legal and regulatory compliance risks and mitigants
- Excellent legal and compliance judgment to enable the provision of sound advice in difficult areas of law, regulation and practice and the proactive management of legal and compliance risk
- Sound judgment of business practices and reputational risk
- Personal authority, integrity and a proven ability to establish relationships with senior stakeholders, build a strong network and exert influence in-country and across the SCB Group
- Strong leadership and management qualities, excellent interpersonal skills and multi-cultural awareness and sensitivity
- Excellent verbal and written communication skills
- Independence, robustness and resilience
NB: Standard Chartered is committed to diversity and inclusion. We believe that a work environment which embraces diversity will enable us to get the best out of the broadest spectrum of people to sustain strong business performance and competitive advantage. By building an inclusive culture, each employee can develop a sense of belonging, and have the opportunity to maximise their personal potential.
How to apply for the job:
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