Regulatory Compliance
- Ensure the company adheres to all relevant laws and regulations, including the Pawnbroking Act, the Precious Stones and Precious Metals (Prevention of Money Laundering and Terrorism Financing) Act (PSPM Act), MAS AML/CFT standards, the Personal Data Protection Act (PDPA), sustainability mandates, and the Secondhand Goods Dealer's Act.
- Keep up to date with legislative or regulatory changes and implement necessary updates to company policies.
- Oversee AML/CFT initiatives, including customer due diligence (CDD), enhanced due diligence (EDD), and ongoing transaction monitoring.
- Prepare, review, and submit regulatory reports, manage Suspicious Transaction Reports (STRs), and coordinate with authorities as required.
- Maintain accurate compliance records and documentation in line with regulatory and company standards.
- Develop and maintain compliance frameworks tailored to applicable regulations.
Internal Audit and Control Oversight
- Plan, conduct, and report on internal audits across pawnbroking and retail operations.
- Evaluate the effectiveness of internal controls, operational processes, and risk management systems.
- Design and implement control mechanisms, policies, and procedures to safeguard assets and ensure compliance.
- Monitor adherence to internal control policies and procedures, assess performance, and recommend improvements.
- Identify gaps and propose corrective actions to strengthen compliance and operational efficiency.
- Conduct follow-up audits to verify that corrective measures are effectively implemented.
- Prepare clear audit reports, highlighting findings, risks, and recommendations for senior management and regulators.
- Support external and regulatory audits as needed.
Policies, Training, and Governance
- Develop, maintain, and update compliance manuals, standard operating procedures (SOPs), and governance frameworks.
- Deliver training to employees on compliance, AML/CFT, and internal control practices across all business units.
- Ensure policies, procedures, and training activities are properly documented and updated.
- Promote a culture of compliance, integrity, and accountability throughout the organization.
