Regulatory Compliance Head

Your Role

The
Regulatory Compliance Head
is responsible for establishing, driving and overseeing regulatory compliance (not inclusive of AML/CFT) strategies, direction and initiatives to facilitate MPI's compliance and adherence to relevant laws, rules, regulations, guidelines, standards as well as Group's policies and procedures governing its day-to-day operations, in accordance with Compliance Management Department's mandate under BSP Circular 972 or the Enhanced Guidelines in Strengthening Compliance Framework. The incumbent also serves as MPI's Data Protection Officer (DPO) for MPI.

Under the guidance of the Chief Compliance Officer, the Head, Regulatory Compliance ensures the effective implementation of the compliance risk management system that is designed to specifically identify and mitigate risks that may erode MPI's franchise value, such as risks of legal or regulatory sanctions, material financial loss, or loss to reputation, and reports status of the Compliance Program to the Board, Senior Management and, if necessary to local regulators.

The incumbent shall work closely with Management, related business units as well as local Regulators where applicable as part of the incumbent's accountability to assist Chief Compliance Officer in managing MPI's regulatory compliance risk.

How you can contribute

• Source, identify and keep abreast of laws, rules, regulations, guidelines, standards and Group's policies that are applicable to MPI.
• Conduct regulatory impact analysis, in collaboration with relevant stakeholders, and recommend necessary compliance risk management activities to the applicable laws, rules and regulations, as well as internal policies of MPI.
• Jointly with CCO, prepare and update MPI's Compliance Program for the effective implementation of the compliance risk management system, as well as to monitor status of compliance issues and initiatives, to ensure compliance risk management measures remain current in line with any changes in the risk assessment of regulations applicable to MPI.
• Escalate and report promptly any regulatory compliance status/issues to the Board and Senior Management, as well as to local regulators if necessary.
• Ensure that relevant stakeholders at MPI are aware of the applicable regulations, understand the impact thereof and implement the necessary control measures to mitigate any regulatory risk, and adhere to the requirements of the laws, rules, regulations, guidelines, standards as well as Group's policies.
• Direct the review of gap/impact assessment of any regulations to substantiate with the control put in place.
• Coordinate conduct of independent testing with the Compliance Review Unit to oversee control effectiveness and access compliance risk.
• Oversee the impact and conduct root cause analysis of regulatory policy breaches or changes.
• Ensure appropriate investigation on the cause of compliance breaches/ violation conducted and take remedial action.
• Lead the periodic review and tracking of compliance issues and incidents to evaluate control and avoid recurrence
• Lead the review and assessment of compliance and regulatory risks during new product/ service/ process/ infrastructure projects sign off.
• Recommend and provide value-added advice on the adequacy of control within business in managing and mitigating regulatory compliance risk effectively.

Your Profile

• A graduate from a recognized Industry with a relevant degree
• With at least 5-7 years of working experience in compliance function, preferably at managerial level.
• Has a significant experience gained in banking industry preferably in compliance, risk management, legal, audit, operations, etc.
• Experienced working in the capacity of banking operations, audit, and compliance would be an added advantage.
• With 6-15 years work experience in a relevant field.
• Must have certification such as Certified Bank Compliance Officer or Certified Regulatory Compliance Manager