Responsibilities
- To assist Head of Legal & Complaince in ensuring that the Business & Support Units’ internal controls are effective in complying with regulatory requirements
- To keep abreast of regulatory developments in banking laws and regulations and assess impact on bank as well as interpretation and providing compliance advisory and recommendations
PRINCIPAL ACCOUNTABILITIES:
- To provide dissemination of regulatory updates, advisory and guidance to the Business & Support Units in all compliance matters on MAS Banking Laws and Regulations (including Banking Act, Foreign Account Tax Compliance Act, Common Reporting Standards)
- To review Regulatory Compliance-related policies and procedures, and to monitor gap analysis progress implemented by the Business & Support Units, in order to manage risks appropriately to comply with bank's local and global policies and procedures
- To maintain the External Rule Database to register applicable regulatory obligations and maintain other registers on Regulatory Compliance-related matters
- To maintain an ongoing review program for compliance, including but not limited to the issuance of local checklists for Compliance Self Evaluation on a half-yearly basis, and the monitoring of personal account dealing by staff
- To coordinate and conduct the half yearly Compliance Self Evaluation for submission to Global Head of Compliance
- To review, develop and implement a risk-based compliance monitoring programme (including surveillance and thematic reviews)
- To act as point of contact between bank and regulators, as back up to the Head of Legal & Compliance, and to assist in handling regulatory consultations and reviews, as well as MAS submissions, notifications, regulatory approvals, surveys and request for information
- To prepare and present management reports (including key findings / follow-up actions) to Head Office and/or Branch Senior Management, for example, monthly compliance reports to Head Office Compliance and regulatory reporting to MAS
- To prepare presentation materials to highlight key regulatory changes or issues to Compliance Committee and other relevant committees
- To coordinate and conduct relevant training to raise awareness on local and overseas regulatory requirements among staff
- To maintain and manage staff list of MASNET users and administrators
- To participate in compliance-related projects and/or perform any other duties as may be assigned by Head of Legal and Compliance on an adhoc basis
Qualifications & skillsets
- Degree holder
- minimum 5 years of experience in related industry and currently conducting similar function and responsibilites in regulatory compliance
