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- Implement the Bank's Compliance frameworks, review and update policies and procedures to comply with legal and regulatory requirements for respective business units within PFS, as well as internal standards and guidelines.
- Single point of contact on all compliance matters in relation to respective business units within PFS in consultation with Group Compliance.
- Drive and facilitate a culture of compliance across respective business units within PFS, including training.
- Ensure timely and accurate regulatory reporting by respective business units within PFS, where required.
- Build a close working relationship with Group Compliance, Hong Leong Islamic Bank to help ensure compliance with Shariah requirements as necessary.
- Build a close working relationship with respective Business Unit Compliance Representatives (BUCRs) / Business Heads, Group Compliance, Group Risk, Group Support Services (including legal), Group Internal Audit, other business units and functions where relevant, in the implementation and enforcement of policies and guidelines.
- Undertake compliance projects initiated by Group Compliance or Head of PFS Compliance, where necessary.
Review & Assurance
- Assist in managing Regulatory Compliance and Compliance Assurance matters, includes Sales Surveillance Monitoring, mystery shopping, CSAT Sales Compliance Survey, Compliance Self-Assessment (CSA), Compliance Independent Review (CIR) and all relevant new legislation & regulation (including Shariah compliance) applicable to all business units within PFS is implemented in a timely manner.
- Work closely with Group Compliance to ensure all independent reviews applicable to respective business units within PFS is implemented in a timely manner.
- Propose/recommend initiatives to revise existing internal processes and/or adopt new processes to comply with regulatory requirements on respective business units within PFS arising from independent review outcomes.
- Ensure gaps identified arising from independent review outcomes are addressed by respective business units within PFS
- Overall responsibility for completion of self-assessments and independent reviews for respective business units within PFS.
- Perform review or validation of the quality of work including identification of gaps and potential areas for improvement based on the area assessed.
- Propose/recommend initiatives to revise existing internal processes and/or adopt new processes to comply with new regulatory requirements, where necessary.
- Establish and share best practice, with reference to competitor benchmarks as appropriate.
Compliance Breach Reporting
- Ensure timely reporting and escalation of compliance issues or incidences by respective business units within PFS to management and Group Compliance.
- Overall responsibility for completion of compliance breach incident assessments for respective business units within PFS
- Assist e in oversight or coordinate of governance committee (i.e. RCGC or FCGC) matters, issues and events that may have significant regulatory, reputational or financial impact towards meeting business objectives, where required.
Experience
- Minimum of 5 years working experience in a banking and financial institution with responsibility for managing compliance or legal risk.
- Knowledge of legislative aspects / regulatory requirements of banking and financial institutions and banking products is a key requirement.
- Demonstrate ability to effectively communicate, both orally and in writing, through all levels of the organization.
