Role Responsibilities
This is one of three newly created roles in the Group Conduct, Financial Crime and Compliance (CFCC) - Data team. The role holders will be the subject-matter experts (“SMEs”) in the Group CFCC function on the regulatory risks and compliance obligations associated with the use of Artificial Intelligence (“AI”) by the Group or by any of its stakeholders (clients, colleagues, communities). Specifically, the role holders will be responsible for:
· Identifying, interpreting, and advising on current or upcoming changes in laws and regulations or technology that affect the Group’s compliance obligations and risk exposure
· Reflecting these changes in the Group’s Responsible AI Standard and AI risk management framework, and providing guidance to enable the Group to remain compliant while pre-empting the evolution of AI models and regulation
· Collaborating with colleagues in the Group CFCC function on regulatory advocacy and engagement with industry bodies
· Partnering with colleagues across the Group CFCC function to enhance its second-line oversight in relation to the use of AI models. This includes developing materials for training and guidelines and delivering training for the wider Group CFCC function.
The ultimate purpose of this role is to enable the Group to safely use AI, at scale, in a competitive landscape.
To be successful in this role, the candidate should be a SME in AI as well as have experience in managing one or more data related risks like privacy, data sovereignty, record keeping and data quality. Experience in model risk management will also be helpful. Problem solving and communication skills are critical to this role, which involves engaging with colleagues across different cultures globally as well as external parties like suppliers, industry bodies and regulators.
Strategy
· Understand the role of data and AI in implementing the Bank’s strategy
· Understand the risks arising from the use of AI, drivers of such risks, and the need to mitigate them
· Provide advice on the interpretation, application and implementation of regulatory guidance pertaining to the responsible use of AI
· Provide expert guidance on changes and new developments in the AI domain, and implications to the Bank’s risk management principles
Business
· Awareness of the wider business contexts across the Bank in which AI can be implemented/used
· Provide SME guidance to Businesses and Functions, and colleagues in CFCC on the responsible use of AI and associated data protection aspects of privacy, banking secrecy and data quality
· Monitor relevant legislative and regulatory changes as well as technological advances, and advise on associated impact to the Group’s Businesses and Functions
Processes
· Lead global initiatives as requested by the Group CFCC Data Leadership Team
· Develop and deliver training on AI risks and regulations
· Draft mandatory documentation, such as Standards and guidelines, and help maintain a library of mandatory documentation
· Draft and maintain additional, non-mandatory documentation such as FAQs, RAI-related communications including content for the Group’s intranet site
· Input into and support the annual Risk and Control Self-Assessment exercise by defining the drivers of risks arising from AI and requirements of any controls to be developed by the first line of defence
People & Talent
· Provide effective second-line subject-matter expertise (SME) support and advice to the Group globally
· Champion the responsible and compliant use of AI across the Group
· Develop and provide training to colleagues in the CFCC function at all levels to ensure RAI principles and good practices are adopted, in collaboration with other principles related to data protection
· Collaborate with CFCC colleagues and the Businesses and Functions to foster an environment that drives appropriate risk control behaviour, including early anticipation, identification, and mitigation of AI-related risk, escalating issues in line with the Group’s Operational Risk Framework
· Provide leadership, management and coaching to direct reports to ensure they are highly engaged and performing to their potential
· Promote and embed a culture of openness, trust, and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm
Risk Management
· Knowledge of the Bank’s ERMF (Enterprise Risk Management Framework) and Risk Taxonomy as well as “Managing Regulatory Change” standards and associated processes
· Oversee, monitor, and challenge implementation of controls to mitigate risks
· Ensure RAI related controls are regularly tested in accordance with the controls testing plan
· Lead risk assessments to identify gaps and deficiencies, and help determine remedial action to correct or mitigate risk
· Provide expert guidance and support on AI-related risk identification and management
· Ensure proactive and timely identification, assessment, advice and dissemination of evolving legal, technological, and regulatory changes / practices and associated risks on the use of AI across the Group
· Assist in agreeing the scope of audits and second-line assurance / compliance monitoring reviews
· Collaborate with first line colleagues to integrate RAI requirements into the third-party vendor framework to ensure AI-related risks are appropriately managed
Governance
· Draft risk committee papers pertaining to the responsible use of AI
· Establish and maintain strong relationships with key stakeholders at all levels, while independently performing own duties
· Work with Businesses and Functions, and colleagues in CFCC, to identify and develop innovative solutions to enable effective oversight of AI-related risks
· Be aware of the risk management and compliance requirements from a regulatory and internal policies/standards perspective
· Acquire knowledge of the Group’s AI governance processes and frameworks, as well as associated processes and assessments such as Privacy Impact Assessments
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 the Group. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
· Support the CFCC Data team to achieve the outcomes set out in the Group’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 specifically in relation to the use of AI
Key stakeholders
· Other subject-matter expert teams within the CFCC Data team covering Privacy, Data Sovereignty, Data Quality and Record Keeping
· Group CFCC Data Leadership Team
· Other colleagues from across Group CFCC, including Country, Region and Business / Function Coverage teams
· Owners of connected Policies and Standards, including the Chief Information Security Risk Officer, Head of Model Risk Management, Third Party Risk Management, etc.
· Group Chief Data Officer’s team
· Colleagues in Businesses and Functions across Group, Region, and Country
· Industry bodies, regulators, and other government authorities, where appropriate
Our Ideal Candidate
· CIPP certification or other equivalent industry recognised qualification preferred
· Industry recognised certifications in risk management, including model risk preferred
· Bachelors’ degree in Mathematics, Statistics, Computer Science, Quantitative Finance, or related technical field with specialisation in Data Science or AI/ML preferred; Masters desirable
· DCAM or similar data related certifications preferred
a) 5+ years in a data related domain like data quality, privacy, security, etc.,
b) 5+ years in risk management – preferably model risk management or model validation; OR
c) 5+ years in data science / data analytics / machine learning disciplines preferably involved in the validation of analytics outputs or AI models;
Note: (a) plus (b) or (a) plus (c) preferred
Role Specific Technical Competencies
· Knowledge of MAS FEAT Principles, HKMA BDAI Principles, EU AI Act, EU/UK GDPR, NIST AI Risk Management Framework and similar regulations / standards / guidance highly preferred
· Experience in implementing RAI controls and associated governance processes
· Ability to translate AI related regulatory publications / recommendations into practical, implementable guidelines and documentations
· Practical understanding of Financial Services, including products, services, and processes
· Ability to understand and map a process and to determine how RAI obligations impact a process
· Ability to draft guidance and translate complex, regulatory concepts into practical, easy to understand recommendations that can easily be implemented by a variety of stakeholders
· Experience of advising on data protection / privacy impact assessments, third party risk assessments or cyber-security risk assessments
· Ability to identify and articulate RAI requirements, risks and issues, and to make pragmatic decisions / recommendations
· Ability to understand business drivers and risk appetite, and to align RAI compliance accordingly
· Ability to incorporate RAI considerations into innovative solutions so that the business can continue to function and evolve whilst ensuring safety from AI-related risks
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 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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