Develop and implement an effective compliance program to identify, evaluate and manage compliance risks in business activities and statutory limits..
Develop and implement an effective compliance program to identify, evaluate and manage compliance risks in business activities and statutory limits. This involves understanding the regulatory landscape, conducting thorough risk assessments, and implementing robust monitoring and reporting mechanisms.
Providing guidance to Management regarding adherence to laws and regulations, as well as keeping them updated on any new regulations that may arise. It involves ensuring that the organization operates within the legal framework set by authorities and stays informed about any changes in regulations.
Stay abreast of changes in laws, regulations, and industry best practices to align with the most current industry standards and regulations.
Educating and training employees on regulations and industry standards.
Monitor and test compliance effectiveness by performing compliance testing includes actively checking and assessing whether the established compliance measures are working effectively to ensure that the organization is meeting its legal and regulatory obligations.
Work with other departments to ensure compliance with regulations.
Prepare and update compliance regulatory report for submission to Head Office/ Internal Management on periodic basis.
Perform data protection duties as a Personal Data Protection Officer safeguarding and managing personal data in compliance with data protection regulations.
Perform Anti-Money Laundering (AML)/ Countering the Financing of Terrorism (CFT) compliance within the Branch as follows:
Investigate, process and maintain a log of suspicious transactions reporting and ensuring speedy and appropriate actions to any matter in which money laundering or terrorist financing is suspected.
Advising and training Management and staff on development and implement internal policies, procedures and controls on AML/CFT.
Carry out, or oversee the carrying out of, ongoing monitoring of business relations and sample review of accounts for compliance with the MAS 626 Notice and Guidelines.
Review KYC Form and source of funds declaration.
Review compliance policies and procedures to ensure compliance with MAS Notices.
Qualifications:
Bachelor's degree in law, business, or a related field.
5+ years of experience in compliance management.
Strong understanding of applicable laws, regulations, and industry best practices.
Excellent analytical and problem-solving skills.
Strong communication and interpersonal skills.
Ability to work independently and as part of a team.
Strong organizational and time management skills.
Experience in developing and delivering compliance training.
