Governance and Controls Manager

6 months ago

London, United Kingdom ICBC Standard Bank Full time

Summary


The Surveillance function, sitting within Compliance, monitors Market Conduct, Financial Crime (which includes money laundering, terrorist financing, bribery and corruption, sanctions breaches, facilitation of tax evasion, fraud, modern slavery, insider dealing and market manipulation) and Conflicts of Interest risks. Automated transactional and communication monitoring systems provide daily capabilities across key market abuse and financial crime behaviours for review by team analysts. A manual monitoring programme supplements the automated generation, allowing for larger scale data reviews across asset classes and communication media formats.

Surveillance works closely with Compliance IT to assist development and maintenance of the automated monitoring and other related systems. This ensures the continued innovation and enhancement of the systems to meet new regulatory requirements, changes in business strategy and emerging risks within the Firm.

In addition to transaction surveillance, the Surveillance team is tasked broadly with other aspects of Market Conduct and Financial Crime Compliance including ad-hoc investigations, regulatory requests for information, suspicious transaction order/activity reporting, training, policy and procedure drafting, and leading bank-wide risk assessments.


Job Purpose
This is a Manager role within Surveillance, leading the Governance and Controls division and reporting directly to the Head of Surveillance. The Governance and Controls division ensures that the overall Surveillance function operates effectively and in a manner that reduces regulatory, operational and audit risk. The division's framework incorporates four key pillars of responsibility i) execution of the annual Market Conduct Risk Assessment to inform the Surveillance enhancement plan and necessary first line control enhancements
ii) design and execution of the Surveillance Assurance Plan to test the effectiveness of controls and recommend enhancements iii) Data governance, including reconciliation processes to ensure accuracy and completeness of data feeds required for surveillance, and iv) Project Delivery - assisting the Head of Surveillance with delivery of Compliance technology projects (RTB and CTB) with input into business requirements and user testing as well as ensuring that new surveillance is released into BAU in a controlled manner (e.g. procedure updates, training etc.).


Governance and Controls work together with the & Investigations team who carry out the essential role of reviewing and performing surveillance tests to detect suspicious activities. Risks monitored by the team include market abuse and other financial crimes (including money laundering, terrorist financing, bribery and corruption, sanctions breaches, facilitation of tax evasion, fraud, modern slavery, insider dealing and market manipulation) as well as rogue trading, data leaks and staff conduct.

An in-house transaction surveillance system provides automated capabilities across a number of key market abuse and financial crime scenarios for review by the team who escalate any unusual or suspicious behaviour. In parallel the team perform manual surveillance using spreadsheet tools and communications surveillance using a combination of automated e-communication and manual sample reviews.

This role requires someone with strong technical capability as well as a broad understanding of global markets business products, regulations and associated market conduct and financial crime risks.


Key Responsibilities

To develop and run the Governance and Controls division in accordance with its mandate and framework. To effectively manage Staff working under this division reporting line (currently 1) To perform the Annual Market Conduct Risk Assessment and support the delivery of the Financial Crime Risk Assessment performed by the Financial Crime Controls & Advisory Team. To perform ongoing assurance testing of Surveillance controls in line with an annual plan. To perform regular data governance controls to identify breaks and follow-up to resolve root cause issues in a timely manner. To assist with RTB and CTB project work ensuring controlled delivery of new controls into BAU. To develop and deliver training to team members and firm wide staff training on matters relevant to market conduct and financial crime. To carry out transaction surveillance in line with documented procedures. To carry out communications surveillance in line with documented procedures. Maintain complete and accurate records of dispositions, investigations and outcomes. To perform four eye review of surveillance and manual monitoring tests To develop new tactical surveillance tests e.g. using Excel to fill coverage gaps ahead of strategic implementation. To represent Surveillance at various Bank forums, committees and working groups. To identify and escalate potential market misconduct or other suspicious activity. To maintain an up to date knowledge and understanding of market/financial affairs and Financial Crime and Market Conduct rules/regulation. To attend online and external trainings, conferences and industry forums on matters relating to Surveillance. To drafting and update policies, procedures and process manuals. To track and respond to internal reviews or actions proposed by internal risk teams e.g. Internal Audit, Operational Risk or Compliance Monitoring. To assist with investigations and requests for information from regulatory authorities and exchanges. To liaise and assist Business Compliance or Business conduct stakeholders on Surveillance matters. To assist in Business Continuity Planning (BCP) testing on-site/off-site where required

Preferred Qualifications and Experience

Fluent mandarin language (written and spoken) Experience manipulating, assessing and presenting data using Excel incl.macros/VBA. Experience of working in a regulated environment, ideally within an Investment Bank or Broker Dealer Experience in dealing with the commodities markets and related market conduct and/or financial crime risks. Experience working in a Market Abuse Surveillance team Experience working with market, client and firm static data

Knowledge, technical skills and expertise:

Understanding of Financial Instruments and Regulated Markets Understanding of Commodity products and experience in Commodity market abuse monitoring Understanding of Investment Banking/Primary Markets transactions (e.g. DCM) Understanding of relevant Market Abuse laws, regulations and guidelines Understanding of Financial Crime rules, regulations and industry guidelines, including rules and regulations on anti-money laundering (e.g. the Joint Money Laundering Steering Group (JMLSG) guidance), counter-terrorism, anti-bribery and corruption, sanctions and fraud. Understanding of client onboarding processes Knowledge of FCA relevant Market Conduct rules IT skills including proficient level Microsoft Excel Strong numeracy skills with demonstrable skills in the compilation and manipulation of data Drafting skills ability to draft to a high standard.

Personal attributes:

Attention to detail Analytical Personable Good communication skills Results-orientated High level of integrity Team player

The role would suit someone who is able to:

Execute consistently and function independently as well as on a team Prioritise and manage multiple tasks while ensuring that assigned job responsibilities and team goals are met Understand and efficiently analyse information from multiple sources

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