Chief Compliance Officer

Job Description Chief Compliance Officer

OVERALL PURPOSE:

To oversee and coordinate the implementation of the compliance system which includes among others, the identification, monitoring, and controlling of compliance risks, including money laundering, terrorist financing, and proliferation financing risks.

ORGANIZATIONAL SCOPE Job Title: Chief Compliance Officer

Unit / Section: N.A.

Department: N.A.

Division: Compliance

Reports To: Main – Board of Directors through the Audit Committee

Admin Functions – President and CEO

Supervises: Interlocked Compliance Officer

MAJOR RESPONSIBILITIES:

1. To provide appropriate guidance and direction to the Company on the development, implementation, and maintenance of the compliance program/manual. The compliance program/manual should include the following:

a. Relevant Philippine laws and regulations.

b. Risk analysis on non-compliance.

c. Compliance risk levels (e.g., low, moderate, high).

d. Provision for compliance testing with applicable legal and regulatory requirements with a testing frequency that should be commensurate with identified risk levels (e.g., annually for high risk and every other year for moderate and low risks; and

e. Reporting of compliance findings noted to appropriate levels of management.

2. To continuously monitor and assess the effectiveness of the Company's compliance program through periodic review.

3. To update the compliance program/manual, as needed, to incorporate any changes in laws and regulations, and to have the updated program/manual, approved by the Board of Directors.

4. To identify, monitor, and effectively control compliance risks to avoid the legal or regulatory sanctions, financial loss, or loss to reputation the Company may suffer as a result of its failure to comply with all applicable laws, regulations, code of conduct, and standards of good practice.

5. To access information necessary to carry out the compliance function; to conduct investigations on possible breaches of the compliance policy; and to report to the Senior Management, the Board of Directors, and/or any Committee of the Board, any irregularities, or any breaches of laws, rules and standards discovered.

6. To maintain constructive working relationships with regulatory agencies; to consult regulatory agencies for additional clarification on specific provisions of the laws and regulations and/or to discuss compliance findings with the regulatory authorities; and to initiate dialogue with regulatory agencies concerning borderline issues.

7. To maintain a clear and open communication process within the Company and educate and address compliance matters through training of the Company's personnel on regulatory requirements. Training can be done through regular meetings, distribution of manuals, and dissemination of regulatory issuance.

8. To prepare and submit the required certifications and reports on compliance with applicable rules and regulations as mandated by the different regulatory agencies such as BSP, SEC, AMLC, and other agencies governing the Company.

9. To act as the Company's money laundering reporting officer tasked with complying with AML laws, rules, regulations, and issuances, including the timely reporting of the covered and/or suspicious transactions of the Company to the Anti-Money Laundering Council (AMLC).

10. To act as the Company's Data Protection Officer tasked with complying with Data Privacy law, rules, regulations, and issuances.

11. To prepare, in coordination with the concerned officers, and submit to BSP, within the deadline, RCAP's Annual Report.

12. To perform other duties that may be assigned from time to time by the Board of Directors and/or any Committee of the Board, and/or the President and CEO, provided that it may not give rise to any conflict-of-interest situation and that the main function of the officer remain to be that of a Compliance Officer

INTERNAL INTERACTION:

Investment Banking Group, Financial Services Division, and Human Resources & Administration Division: To ensure submission of required reports and compliance with relevant laws/regulations by each Division through compliance testing and submission of the quarterly certification on Anti-Money Laundering, Reportorial, and Regulatory compliance by the Division Heads.

Investment Bank Group (IBG) and Financial Services Division (FSD): To ensure compliance with the Know-Your-Customer (KYC) procedures imposed by the AMLC through the Continuing Monitoring Plan (for IBG) and the submission of the Monthly Deficiency Report and status report on deficiencies noted (for FSD).

Investment Banking Group and Financial Services Division: To ensure receipt of the covered and/or suspicious transactions file for uploading in the AMLC portal.

Audit Committee: To act as the Secretariat responsible for agenda setting, taking and preparing of minutes, and notifying the Committee members of all meetings of the Committee. To report the annual compliance plan, status and results of compliance testing made, audit findings (from the external auditor, BSP, SEC, AMLC, and other regulatory agencies), and the status of the resolution of such findings. To request for endorsement or approval of matters/ manuals requiring its or the Board's approval.

Corporate Governance Committee: To act as the Secretariat responsible for agenda setting, taking and preparing of minutes, and notifying the Committee members of all meetings of the Committee. To report any item relating to RCAP's level of compliance with the manual of corporate governance and to request for endorsement or approval of the revisions and/or update in the corporate governance manual (including the Policy on Interlocking Positions) for endorsement to the Board. To vet all the nominees to the Board. To validate the

President and Senior Officers: To take and prepare the minutes of the Senior Officers meeting. To report noted violations of company rules and regulations the recommended corrective actions, and audit findings from the external auditor and the regulatory agencies and the status of their resolution. To secure endorsement or approval on updates/revisions to the pertinent manuals and policies. To elevate concerns that could not be resolved by the Division for immediate action.

EXTERNAL INTERACTION:

RCBC Securities, Inc. and RCBC Bankard Services Corp.: To coordinate with the Compliance Officer or Associate Person on any compliance concerns, issues, and/or reports that may be required by the Board of Directors.

Bangko Sentral ng Pilipinas (BSP): To submit updates, reports, and certifications that may be requested by BSP. To request clarifications on specific provisions of laws and/or regulations. To discuss findings or issues; to act as coordinator during BSP regulatory audit. To ensure submission of all audit requirements by RCAP users during the BSP audit. To respond to queries of BSP officers.

External Auditor: To provide required documents during the conduct of the external audit. Coordinate the respective schedule for the presentation of its Audit Plan to the Audit Committee and of the Audited Financial Statement to the Board.

Securities & Exchange Commission (SEC), Bureau of Internal Revenue (BIR), Other Regulatory Agencies Governing Investment Houses/NBFls: To coordinate and to ensure submission of reports required by the regulatory agencies. To request clarifications on specific provisions of laws and/or regulations. To act as coordinator during regulatory audit. To ensure prompt action/reply to any deficiency/finding by the regulatory auditors. To respond to queries on matters within their purview.

QUALIFICATION REQUIREMENTS: Minimum Education Requirement:

• Bachelor's degree relevant to the position (e.g., Accounting, Law, Banking/Finance, and other related courses)
• Preferably a Lawyer or Certified Public Accountant

Knowledge of Specific Functional Work:

• Well-versed with relevant Philippine laws and regulations governing Investment Houses and Non- non-bank financial Institutions with quasi-banking functions such as those issued by BSP, SEC, AMLC, BIR, etc.
• Familiar with the Generally Accepted Accounting Principles (GAAP). Working knowledge of general accounting standards and operations/procedures of banks/financial institutions, investment houses, and/or non-bank financial institutions with quasi-banking functions.

Industry/Work Experience Required:

• At least ten (10) years of relevant experience, four (4) years of which are in a managerial/supervisory position.

Special Skills / Behaviors Required:

• Proficient in MS Office applications such as Word, Excel, and PowerPoint. With excellent writing and research skills. Analytical. Self-motivated. Possesses good interpersonal skills and organizational skills with the ability to prioritize tasks and manage time.

Job Type: Full-time

Pay: From Php300,000.00 per month

Schedule:

• 8 hour shift

Ability to commute/relocate:

• Makati City: Reliably commute or planning to relocate before starting work (Required)

Application Question(s):

• Are you currently a CCO?