Job Purpose:

To provide compliance advisory in projects and new business assessment, manage regulatory breaches and regulatory relationship, disseminate new/revised regulations to stakeholders, review Gap Analysis conducted by stakeholders to ensure compliance to the regulatory requirements through close liaison with stakeholders.

Key Responsibilities:

New/Revised BNM Regulations Management

• Disseminate new/revised BNM regulations to stakeholders.

• Disseminate regulatory/industry consultations to relevant business unit to comment/review and coordinate the responses for submission.

• Prepare and review of Gap Analysis/Attestation of Compliance for new/revised BNM regulations submitted by stakeholders, if applicable.

• Review and maintain the Gap Analysis Template Process.

• Maintenance of Regulatory Risk Matrix.

• Publish BNM regulations to InAlliance Portal.

Regulatory Advisory for New Initiatives/Products/Services/Projects

• Provide compliance advisory to assist business unit/support unit to manage their compliance risk.

• Review new product/service.

• Review publication and communication materials.

• Provide compliance advisory on the new initiatives/projects of the Bank.

• Conduct training for new joiners and newly on-boarded customer facing staff, as and when required.

• Continuous engagement with business unit/support unit.

Regulatory Breach Management

• Review the Regulatory Breach Notification submitted by business unit/support function to ensure the reasonableness on their proposed corrective action plan.

• Notify BNM of any regulatory breaches.

• Submit secrecy breach report to Group Compliance Governance.

Regulatory Relationship

• Liaison party between the Bank and the regulators, government bodies and relevant associations.

Other Ancillary Functions

• Attend to any ad-hoc compliance advisory matters assigned by the GCCO, Head of GRA and/or VP of GRA.

Supervisory Roles

• Review tasks completed by subordinates for completeness and alignment to overall strategy and compliance framework.

• Provide guidance and supervision (if required), and motivation to team members to enable them to carry out their duties effectively on all functions/activities.

NOTE: Job descriptions are subjected to change at the discretion of the Management

Requirements:

Skills

• Sound knowledge of compliance and regulatory matters.

• Strong leadership and strategic thinking.

• Ability to influence and work collaboratively with colleagues across Group Compliance, Group Risk, Group Internal Audit, and other respective business unit/support unit.

• Good analytical thinking and problem-solving skills.

• Good writing and communication skills.

• Good interpersonal skills.

• Able to lead and motivate the team under supervision.

• Proactive and able to work independently as well as in a team.

Knowledge

• Professional qualification or Degree in Banking & Finance, Business Administration, Law or other relevant discipline.

• Knowledge in regulatory compliance relating to retail banking operations and products.

Experience

• At least 7 years of working experience in a financial institution.

• Experience in compliance, risk management or internal audit function is an added advantage.

• Experience in banking operations or product development is an added advantage.

AVP, Group Regulatory Advisory