Head of Sanctions - Director (m/w/d)

Who we are

United by a sense of purpose towards our customers – to be a trusted partner for the long-term – and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Role Summary

Is the next step in your career at SMBC Group EMEA? We’re looking for a SMBC EU Head of Sanctions for our to join our Compliance team. 

SMBC EU is obliged to implement and manage a sanctions risk management function and has set-up a dedicated Sanctions Team, which is a key element within the overall SMBC EU sanctions risk management framework. It bundles the related knowledge and competence and supports the MLRO and Deputy MLRO/Head of AFC in fulling their duties, operationally and strategically.

The SMBC EU Head of Sanctions is responsible for managing and further enhancing the SMBC EU group-wide sanctions and embargo compliance framework. The role works towards compliance with European, national and international sanctions regimes as well as internal policies to minimize sanction related legal, regulatory and reputational risks.

The job holder will  lead the development, implementation, and continuous enhancement of the bank´s sanctions compliance framework and also drive strategic initiatives in a sanctions context at regional (EMEA) level in close collaboration with other senior sanctions stakeholders. 

The role requires a minimum of 8-10 years of professional experience in financial crime compliance with focus on sanctions as well as in-depth understanding of international sanction regimes (e.g. EU/UN/UK/US) and regulatory expectations. In addition the role requires strong knowledge of corporate banking products and services, especially trade finance, and international payments as well as knowledge of sanctions screening technologies.

Business Area

The Sanctions Team acts as the centre of competence for sanctions related matters for SMBC EU and SMBC EUs service recipients with a focus on the European and other relevant sanctions regimes. In this context the team is also responsible for the day-to-day Sanctions business operations and the execution of the relevant laws and regulations as well as the related internal global, EMEA and local policies and procedures. In addition, the team manages and oversees various outsourcing arrangements in this area from a service provider as well as from a service recipient perspective.

Position Description

The job holder leads the EU Sanctions Team disciplinary as well as functionally and supports the Money Laundering Reporting Officer (MLRO) and their deputy, the Deputy MLRO & Head of Anti Financial Crime Compliance (AFC) in fulfilling their legal and regulatory duties to which the Bank is subject to.

The job holder works closely with the sanctions functions of other SMBC Group entities in EMEA and is overseeing sanctions related outsourcings as responsible service recipient SME. In addition, the Job Holder also oversees the delivery of sanctions related services being provided to other SMBC Group entities in EMEA as a service provider, in accordance with the applicable Service Level Agreements (SLA)

In close collaboration with other senior sanctions experts in the region, the job holder will lead strategic initiatives in a sanctions context at a regional level, to ensure that the Bank’s sanctions systems and controls framework remains fit for purpose, in line with market best practice and regulatory expectations.

The job holder works towards the Bank sanctions compliance with its legal and regulatory requirements. The job holder has no budget responsibility.

• Main interfaces/relationships: SMBC EU MLRO, Deputy MLRO Head of AFC/EMEA Head of Sanctions/Front Office Departments/Financial Crime Middle Offices (FCMO)/Legal
• Primary remit: Perform 2nd line of Defence activities in a sanctions context, as defined by relevant policies and procedures and to provide advice and guidance to SMBC EU stakeholders and other SMBC EMEA entities on all sanctions compliance related matters. To continually assess and manage sanctions risks and to provide advice and guidance with respect to risk mitigation.
• Secondary remit: To contribute strategically to the EMEA Sanctions compliance programme, in close co-operation with the EMEA Sanctions Team, by leading and/or supporting project initiatives to achieve a more robust and sustainable risk framework. To contribute where required globally on strategic initiatives via the Global Sanctions Working Group. 

Accountabilities and Responsibilities

• Lead the development, implementation, and continuous enhancement of the bank´s sanctions compliance framework
• Drive strategic initiatives in a sanctions context at regional (EMEA) level in close collaboration with other senior sanctions stakeholders
• Perform Risk Assessments (RA) and develop mitigation strategies for sanctions related risks
• Ensure the effective operation and monitoring of day-to-day activities relating to sanctions including preparation and escalation of issues for final decision
• Provide expert advice to senior management and Front Office staff on sanctions related matters
• Oversee and manage outsourced services in a sanctions context as a service recipient and a service provider
• Prepare and deliver regular reports to the MLRO, senior management and other stakeholders
• Act as a main point of contact for external auditors, regulators, and internal audit in all matters related to sanctions
• Monitor global sanctions and embargos-related regulatory developments and assess their impact on the bank´s operations
• Lead, mentor and develop the EU sanctions team.
• To determine and manage escalation items for the SMBC EU MLRO and Deputy MLRO/Head of AFC
• To design and provide targeted sanctions training to key stakeholders to ensure they understand and comply with the Bank’s requirements.
• To provide structured and strategic engagement with senior front office stakeholders.
• To contribute strategically to the EMEA Sanctions compliance programme by leading and/or supporting project initiatives to achieve a more robust and sustainable risk framework.
• To contribute where required globally on strategic initiatives via the Global Sanctions Working Group. In this respect the job holder has a functional reporting line to the EMEA Head of Sanctions

Knowledge, Skills, Experience and Qualifications

• Minimum 8-10 years of professional experience in financial crime compliance with focus on sanctions
• In-depth understanding of international sanction regimes (e.g. EU/UN/UK/US) and regulatory expectations
• Strong knowledge of corporate banking products and services, especially trade finance, and international payments.
• Knowledge of sanctions screening technologies
• Analytics & Decision Making - Strong analytical skills, capable of making logical assessments based upon factual data followed by decision making in high-stakes or time-sensitive situations
• Strong in stakeholder management – Capability to manage interactions with senior management, regulators, and external auditors
• Several years in leadership or senior expert role
• Excellent verbal and written communication skills, especially when faced with challenge.
• University Degree (Law, Business, Economics), Banking Apprenticeship or equivalent.
• Fluent in English, Good German language skills helpful.

Competencies

What we offer

For all the expertise and experience you bring to help us make a difference, it’s only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

As an employee of SMBC you have access to a host of both useful and exciting benefit offerings. See below some of the benefits on offer to you:

• Hybrid and flexible working 
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance 
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services  
• Access a wide range of learning and development opportunities and career progression opportunities 
• Ambitious remuneration package

So, if you like a challenge and want to continuously grow and develop in a role where you will be supported along the way by a dynamic and diverse team, apply today!!