Director, CFCC Governance, Bahrain & MENA – Standard Chartered – Manama

Job: Compliance

Primary Location
: Africa & Middle East-Bahrain-Manama

: Full-time

Employee Status
: Permanent

Posting Date
: 19/Apr/2022, 2:05:46 PM

Unposting Date
: 03/May/2022, 5:59:00 PM

About Standard Chartered
We’re an international bank, nimble enough to act, big enough for impact. For more than 160 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
  • Be better together, we can be ourselves, be inclusive, see more good in others, and work collectively to build for the long term
  • 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, parental/maternity (20 weeks), sabbatical (12 weeks maximum) and volunteering leave (3 days), along with 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.
  • Recruitment assessments – some of our roles use assessments to help us understand how suitable you are for the role you’ve applied to. If you are invited to take an assessment, this is great news. It means your application has progressed to an important stage of our recruitment process.
Role Responsibilities


  • Proactively develop regulatory relationships with regulators in Bahrain and the MENA Cluster (ex. UAE) (“the Cluster”) through a structured engagement programme with consistent adherence to regulatory expectations.
  • Help ensure that Standard Chartered Bank’s operations in the Cluster are in line with regulatory expectations and Group requirements.
  • Support the Head of CFCC (Conduct, Financial Crime & Compliance), Bahrain & MENA (ex. UAE) to set and implement the vision, strategy, direction and leadership for the Cluster, consistent with the vision and strategy for CFCC and in support of the Group’s strategic direction and growth aspirations.
  • Promote the culture and practice of compliance with compliance standards (including conducting business within regulatory requirements, and to high ethical standards) within the Bank and embed a Here for good culture and the Group Code of Conduct.


  • Ensure that key changes (to laws, rules, regulations) are communicated and cascaded in Bahrain and support the countries of the Cluster to ensure the same, in coordination with group communications.
  • Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
  • Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, regulations, laws, best practices and policies related to CFCC, in consultation with the CFCC Advisory team as relevant.
  • In conjunction with the relevant stakeholders, analyse the impact of regulatory compliance matters on the bank and its operations.
  • Anticipate, assess and communicate key regulatory risk trends in Bahrain and the Cluster for management consideration and drive the development and implementation of appropriate mitigation control measures.
  • Use general knowledge of business products undertaken in the Cluster to work with CFCC Advisory to respond to regulatory questions and keeps the in-Country regulators updated on developments in the Bank’s business


  • Develop, keep up to date and recommend for approval by the relevant Risk Committee, appropriate policies / processes / DOls to address CFCC, aligning with relevant regulatory requirements.
  • Work with the Head of CFCC Bahrain and MENA (ex. UAE) to manage and develop the relationship with the regulators in accordance with the Regulatory Relationship Plan.
  • Build trust through meeting regulatory commitments and having regular briefings/engagement with regulators.
  • Help ensure the Bank is properly prepared for regulatory inspections and coordinating responses with the business.
  • Providing governance and oversight over the implementation of CFCC related policies and procedures in Bahrain and the Cluster to ensure compliance with such policies and procedures.
  • Provide advice to relevant business (in collaboration with the CFCC Advisory team where relevant) & functions stakeholders on compliance with Group standards & regulatory matters relating to CFCC.
  • Proactively monitor regulatory developments to manage the regulatory impact of complex regulatory matters on the Bank’s business (in collaboration with the CFCC Advisory team where relevant) and its operations
  • Provide guidance on the proper application and interpretation of banking laws, regulations and policies applicable in Bahrain.
  • Set control standards and provide advice on the development of appropriate controls for the mitigation of regulatory risks.
  • Assist in overseeing relevant administration and licensing and required by the in-Country regulatory requirements.
  • In the event of serious regulatory breaches, or where risk tolerances have been breached, assist in critical workstreams in order to ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
  • Track significant issues arising from CFCC metrics, Assurance activities, Audit reviews and regulatory inspections, providing validation of issue closure where necessary.
  • Prepare and cascade lessons learned from audit findings, assurance activities and specific investigations.
  • Support all control checks undertaken by CFCC under the Operational Risk Framework (ORF).
  • Implement quality assurance standards and workflows for the CFCC processes.
  • Co-ordinate/support the management of audits/exams.
  • Provide support to the Heads of CFCC in the Cluster to discharge the responsibilities of this section as applicable to them.
  • ABC Lead – ABC country lead for SCSA

People and Talent

  • Promote a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
  • Stimulate an environment where forward planning, prioritisation, deadline management and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
  • Support the provision of ongoing training and development of people, and ensure that holders of all critical functions are competent, suitably skilled and qualified for their roles ensuring that they have effective supervision in place to mitigate any risks.
  • Lead through example and build the appropriate culture and values. Work in collaboration with risk and control partners.
  • Collaborate effectively and proactively with CFCC Advisory and other support function teams to manage in Country CFCC risks.

Risk Management

  • Maintain oversight of risk mitigating action plans.
  • Provide advice on the application of risk management frameworks (e.g. ORF, GRA).
  • Apply Group and CFCC policies and processes to manage risks.
  • Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations.
  • Inform senior management and relevant regulators of serious regulatory breaches (or where risk tolerances have been breached) and ensure that actions are taken quickly to remediate and/or activities are ceased.
  • Conduct country risk assessments.
  • Map risks, quantify the potential impact and escalate where necessary.
  • Support delivery of annual Global Compliance, AML, ABC and Sanctions Risk Assessments.
  • Provide intelligence inputs to support calibration of the bank’s Risk Methodologies (including aggregate client risk, product risk and country risk assessments).
  • Ensure the Bank is properly prepared for, routine regulatory exams, audits and supervisory inspections, as well as to managing the response from the business.
  • Define metrics and/or key risk indicators (KRI) for CFCC.
  • Help manage key change programmes and projects for Country CFCC
  • Maintain workplans specific to Country CFCC projects/ initiatives, and communicate the same to stakeholders in a regular, timely fashion to inform and seek inputs.
  • Provide skilled resources to support project / programme delivery
  • Manage and protect business as usual (BAU) capability during change programme, as well as during the execution and delivery of the Remediation initiatives through project phase into BAU


  • Attend relevant leadership and Governance meetings as agreed with the Head of CFCC Bahrain & MENA (ex. UAE).
  • In the event of serious regulatory breaches, or where risk tolerances have been breached, ensure senior management and relevant regulators are informed and that actions are taken quickly to remediate and/or activities are ceased.
  • Periodic reporting and timely escalation of significant risks and issues arising from CFCC Monitoring and Assurance activities.
  • Be accountable for identification and escalation of potential risks and issues to senior management through appropriate governance channels and the Quality Assurance framework.
  • Collate, analyse and interpret data in reports to senior management and relevant governance/risk committees.
  • Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and thus drive remediation action within the CFCC function.
  • Lead or influence significant programmes of work in support of the CFCC initiatives and projects.
  • Proactively drive the development and maintenance of good relationships with internal and external business stakeholders at appropriate levels ensuring an open and cooperative environment.

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.
  • Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
  • Support relevant stakeholders to respond to regulatory questions

Key Stakeholders

  • Country/Cluster CFCC team
  • Relevant Country/Group process owners for CFCC processes
  • Country, Cluster and AME Regional CFCC Management Team
  • Country Business Segments/Product teams
  • Country/Cluster Operational Risk
  • Country GIA
  • Regulators in the Cluster

Other Responsibilities

  • Embed Here for good and Group’s brand and values in the CFCC Governance team.
  • Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Our Ideal Candidate
  • Certified Anti Money Laundering Specialist (CAMS)

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