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Wealth Management COO, UAE & AME at Standard Chartered
Dubai, United Arab Emirates
Job Descrption
• The role holder is accountable for operationalizing the Bank’s WS strategy, business initiatives & WS product governance in the UAE & EMEA cluster to deliver desired outcomes for our Clients, the Bank and other stakeholders.
RESPONSIBILITIES
Strategy
• Support the WRB EMEA COO, Global WS COO, WS EMEA Regional Head and WRB UAE Head in delivering the stated strategy and outcomes on standard metrics/scorecard.
• Drive innovation and continuous improvement projects and be responsible for outcomes against key metrics (including but not limited to budget, volumes, productivity, accuracy, service levels, losses / lapses, issues and the Enterprise Risk Management Framework)
• Oversee project and change management across all products in EMEA and UAE regularly and consistently to ensure flawless execution and compliance.
• Work with Regional EMEA and Country UAE WRB teams on strategic initiatives that impact WS distribution channels. Translate strategy, policy, themes, into... actionable plans which are realistic within regional / country business and regulatory context and/or controls to achieve synergies, coherence and efficiency saves within the region and country.
Business & Processes
• Provide oversight of the regional EMEA and country UAE wealth solutions business unit, reinforcing risk management, product governance discipline and driving alignment/streamlining of key sales and operation processes in the region.
• Support the WS EMEA Regional Head and the WRB UAE Head to deliver the business priorities through continuously improving on process productivity and efficiency, meeting regulatory and internal policy requirements, and driving a standardization agenda for the business as well as representation at the relevant risk/conduct/governance committees and forums.
• Design, manage and implement end-to-end policies and processes to ensure that relevant policies, procedure, and standards are effectively implemented across Wealth Products in the region. End-to-end accountability of WS policies as well as sales and operational processes to support for the Wealth Solutions business and strategy to achieve the desired client journey outcomes in UAE & EMEA.
• Process Simplification and Project implementation
• Business facilitation by continuously improving, simplifying & introducing process efficiency initiatives for wealth products and improve customer experience, without sacrificing control effectiveness.
• Leverage best practices from other countries in simplifying processes.
• Drive the implementation of Wealth Projects on system platforms, risk management, process simplification & standardisation.
• Developing & Driving the Wealth Solutions Transformation roadmap (including but not limited to client servicing, STP)
People & Talent
• Provide strategic thought leadership, coaching, recognition and motivation through positive reinforcements and frequent feedback sessions.
• Provide guidance to the Country WS COO (including the WS Operations) teams in the region to ensure full support on respective business priorities, compliance and regulatory commitments.
• Promote risk awareness and compliance culture. Lead through example and build the appropriate conduct, culture and values.
• Strengthen the performance culture and reinforcement of accountabilities.
• Ensure team members are suitably trained/skilled for the job and fit for growth.
• Employ, engage, and retain high quality people, with succession planning for critical roles.
• Identify talented individuals and provide stretch opportunities for career development.
Risk Management
• Work with BRM to establish and implement a stable and reliable world class control environment.
• Engage key stakeholders in EMEA and UAE and within the broader WRB business to ensure alignment across product governance/control/conduct agendas for WS and broader regional/businesses.
• Leverage Group resources to import and disseminate best practices from other countries to sustain effective products and sales control.
• Oversee Implementation of risk management in the region. Guide business risk management to ensure full implementation of ORF across the business unit. Ensure execution of the first line self-assessment model, report on and analyse operational risks profile to BORG, and any other equivalent committee in the country. Track and follow through management actions to mitigate identified operational risks exposure.
• Work with BRM to review the key control standards (KCS), key control sample testing (KCST) and key risk indicators (KRI) within business unit. Actively manage and remediate any breaches and deviations from global / local standards.
• Proactively identify key risks through Country Conduct Plan and Regional Conduct Heatmap.
Operational Risk for UAE
• Assume delegated authority as the Country Process Owner in performing Risk Assessments for WS processes in country as prescribed by the ORF, the output being a risk rating based on the Group Operational Risk Assessment Matrix and a risk rationale for regular Risk Assessments and Project Operational Risk Assessment
• Appointed WS representative for Country WRB risk forums
• Identify new, thematic and horizon risks; provide operational risk advice through ORF and ad hoc reviews (Accountability reviews, Lessons Learnt reviews, Process / Control reviews) at the unit level.
Governance
• Ensure compliance to WS product governance for new launches and on an ongoing basis for existing products.
• Ensure Satisfactory Audit Outcomes for WS in EMEA and UAE
• Establish audit readiness and address any emerging risks and act to minimize audit failures.
• Act as the key business interface with Audit in country.
• Work with BRM to ensure full coordination of audit activities and reports.
• Review Audit’s Management Action Plans with Regional / Country Head, Wealth Products and other key stakeholders to ensure full execution and commitment as agreed.
• Self-reflect on Audit findings with relevant Product Heads and Customer segment heads in country, and re-assess the control effectiveness as part of the residual risk ratings
• Ensure compliance with the highest standards of regulatory conduct and compliance standards as defined by internal and external requirements.
• Ensure that identified risks are subject to appropriate remedial action, escalated to the relevant senior committee if required and followed through to closure.
• Develop and sustain a product sales compliance culture (review sales and services processes in country to ensure flawless execution and compliance, develop effective communication and supervise training to promote risk awareness and compliance culture, ensure gaps are identified and addressed, collaborate with other support functions to ensure a coherent, seamless delivery and strong governance)
• Engage with key stakeholders (Regional EMEA / Country UAE COO, WRB) (Personal and Affluent), WS, Functions including but not limited to T&I, Risk, Compliance, HR, Finance, Legal, Audit etc) to ensure alignment across governance / control / conduct agendas for WS in UAE and within EMEA.
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 [EMEA /UAE WS/ COO 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.
Key Stakeholders
• Regional and Country WRB Heads
• Regional / Country WRB COO
• Regional / Country Head of Wealth Solutions and teams
• Regional / Country Segment Heads and Teams
• Regional / Country Support Functions, e.g. COO, Legal, CFCC, OR, SD, Finance, IT and HR, Conduct
• Country External Regulators
• Group Wealth Products teams
• Group Wealth COO office
• Group Legal & CFCC and OR teams
Other Responsibilities
• Embed Here for good and Group’s brand and values in EMEA /UAE WS/ COO team. Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures; Multiple functions (double hats);
Qualification
• Proficiencies in Wealth Solutions Products & Solutions.
• High energy and bias for action / execution.
• Knowledge of WS products and the bank’s Policies & Procedures & Governance requirements
• Project Management Skills required.
• Product Management, Digital Banking, Process Design experience
• Ability to work with different stakeholders - to engage with senior colleagues across different markets and group.
• Ability to write papers and ability to articulate concepts succinctly.
Role Specific Technical Competencies
• Wealth Product knowledge
• Manage Risk
• Manage Change
• Service Delivery & Operations Management
About Standard Chartered
We're an international bank, nimble enough to act, big enough for impact. For more than 170 years, we've worked to make a positive difference for our clients, communities, and each other. We question the status quo, love a challenge and enjoy finding new opportunities to grow and do better than before. If you're looking for a career with purpose and you want to work for a bank making a difference, we want to hear from you. You can count on us to celebrate your unique talents and we can't wait to see the talents you can bring us.
Our purpose, to drive commerce and prosperity through our unique diversity, together with our brand promise, to be here for good are achieved by how we each live our valued behaviours. When you work with us, you'll see how we value difference and advocate inclusion.
Together we:
• Do the right thing and are assertive, challenge one another, and live with integrity, while putting the client at the heart of what we do
• Never settle, continuously striving to improve and innovate, keeping things simple and learning from doing well, and not so well
• Are better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
What we offer
In line with our Fair Pay Charter, we offer a competitive salary and benefits to support your mental, physical, financial and social wellbeing.
• Core bank funding for retirement savings, medical and life insurance, with flexible and voluntary benefits available in some locations.
• Time-off including annual leave, parental/maternity (20 weeks), sabbatical (12 months maximum) and volunteering leave (3 days), along with minimum global standards for annual and public holiday, which is combined to 30 days minimum.
• Flexible working options based around home and office locations, with flexible working patterns.
• Proactive wellbeing support through Unmind, a market-leading digital wellbeing platform, development courses for resilience and other human skills, global Employee Assistance Programme, sick leave, mental health first-aiders and all sorts of self-help toolkits
• A continuous learning culture to support your growth, with opportunities to reskill and upskill and access to physical, virtual and digital learning.
• Being part of an inclusive and values driven organisation, one that embraces and celebrates our unique diversity, across our teams, business functions and geographies - everyone feels respected and can realise their full potential
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