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Develop and manage a robust Compliance function in line with the Group Compliance Policy which provides assurance to senior management and the Board of Bank ABC.
Develop and implement in coordination with other members of senior management an appropriate and integrated framework of Compliance policies, procedures and standards, to lead in the development of all Compliance frameworks, programs and standard within Singapore.
Promote a branch wide culture of Compliance centred on awareness and understanding of Compliance risks and responsibilities consistent with expectations of the Board and regulatory authorities, and lead the development of risk and compliance culture programs and training for Singapore.
Develop in coordination with Group Compliance, local regulatory and compliance Conduct related program, standards, policies, procedures, and implement in Singapore.
Develop in coordination with Group Compliance, Regulatory, Governance and Compliance orientation and training programs for local staff.
Develop and maintain professional and holistic regulatory relationships with regulatory authorities with jurisdiction over ABC in Singapore which ensures, amongst others, the appropriate level of regulatory supervision and engagement.
Provide ABC Singapore advice and advice on regulatory consultations, interpretation of relevant laws and regulations.
Provide regulatory -forward-looking trends and analysis to inform Compliance and Financial Crime Risk Assessments and Plans.
Provide general/role specific/specialised compliance-related training (regulatory and FCC) to ABCS staff.
Where needed implement Compliance and Risk Assessment Methodologies and Management Information in Singapore, facilitating local management in establishing Compliance Risk Appetite, decision making, oversight and management of Compliance Risks.
To ensure and maintain Compliance independence and objectivity.
Discharge the regulatory reporting obligations of ABCS.
Principal Responsibilities, Accountabilities and Deliverables of Role:
1. Develop and manage a Compliance function covering bank wide compliance risks and addressing amongst others
Functional definition, roles and responsibilities and delegation.
Risk assessment and compliance planning and monitoring activity.
Senior management and Board reporting
Independence / objectivity
Ensure Group Compliance standards are applied in Singapore.
2. Ensure that there is adequate Compliance resource to cover bank-wide operations and responsibilities in an effective manner
Assess requirements for Compliance support as business grows and ensure adequate capability and capacity from people and systems perspective.
3. Policy and operational standards
Develop, maintain and implement in coordination with other members of senior management an appropriate and integrated framework of compliance policies and operational standards
Ensure that all key aspects of policy and standards as approved by the Board and Senior Management are effectively communicated, reviewed, with clear ownership and accountability 4.
Manage operational responsibilities in respect to Regulated Business activity in line with regulatory requirements Group Compliance standards
Provide senior and local management with timely guidance and advice on matters of Compliance
Manage in coordination with other members of senior and local management relations and contact with relevant regulatory authorities, in the region
Initiate and manage investigations into possible breaches of policy and standards
Act as a point of focus for staff, regulators, and External Audit re matters of Compliance
Ensure appropriate escalation and Compliance MI are in place, driving Compliance agenda
5. Policy and operational standards
Ensure in coordination with other members of senior management that the branch has an effective framework of AML / CFT policies and operational standards (including those concerning sanctions legislation)
In coordination with other members of the branch and senior management ensure that the adequacy and effectiveness of AML / CTF control environment is subject to periodic assessment.
Discharge in a professional manner operational and reporting obligations as defined by:
Bank AML / CTF policy and operational standards
Regulatory/legal requirements in respect of MLRO 7
7. AML manual
Advise senior and local management on developments in AML / CTF and sanctions regulation/legislation
Act as a point of focus on matters of AML / CTF and sanctions compliance
Ensure staff receive adequate and timely training and guidance concerning AML CTF / sanctions regulation in accordance with policy and guidance
Ensure that there is adequate AML resource to cover operational and oversight responsibilities
Knowledge: A clear understanding of regulatory compliance and financial crime controls and regulatory expectations in Singapore.
Education / Certifications: Bachelor Degree
Experience: 10 Years' experience in Compliance, Legal or Risk particularly in Singapore
Personal Attributes: Mature, organized, self-starter, culturally sensitive, good communication skills