The global head of financial crime at Standard Chartered is set to step down, just days after the emerging markets lender admitted it still had not satisfied US authorities that it is fully compliant with international sanctions.

John Cusack, who has overseen the bank’s efforts to comply with rules on sanctions, bribery, money laundering and fraud since 2014, will take on a new as-yet-undetermined advisory role at Standard Chartered in January, according to a person familiar with his plans.