Compliance Testing and Monitoring Assistant Manager

Your Impact on the Business

The Compliance Testing & Monitoring Manager develops strategies, leads and participates in the development and execution of monitoring activities and risk-based compliance testing programs aligned with the approved annual Compliance and Legal Team's Monitoring and Testing Plan, methodology and approach. Monitoring function ensures that regulatory obligations, reports and deliverables are accurate and timely prepared and submitted to regulatory agencies and the Group. This includes regulatory directives, Partners (Western Union), the Group and Internal Audit finding and recommendations, as well as monitoring training requirements and regular Management reports. Compliance Testing provides reasonable assurance that the Business and Support Units adhere to existing laws, regulations and standards through conduct of test and control checks of policies, procedures and practices.

Key Functions and Responsibilities:

Oversee Operations and Risk-based Compliance Assurance Reviews of  Compliance Testing & Monitoring

• Undertake periodic review of current AML practices and procedures and update the procedures as necessary for the Chief Compliance Officer's approval;
• Directly in-charge of Compliance oversight on sub-agents and remittance partners, local and international, making sure their full-compliance with the accreditation standards, notification to BSP, and pertinent regulations such as AML/CFT and Sanction Program and Consumer Protection;
• Initiate the conduct of annual compliance risk assessment to identify key regulatory and compliance risks that need prioritization for review, taking into consideration the available resources and compliance testing tools, with the end goal of coming up with a risk-based Testing Plan;
• Ensure that Group and Internal Audit findings, requirements for the institution of new policies and procedures and other recommendations are timely undertaken by the concerned units;
• Execute through the use of compliance testing tools and procedures a robust compliance testing plan to assess regulatory and compliance risk exposures;
• Assisting the compliance team during regulatory inspections, audit and assessments;
• Pro-actively take on additional responsibilities and administration tasks as required by the Chief Compliance Officer;

Stakeholder Management

• Ensure that significant findings, issues and gaps are escalated to the Management and the Board through the Chief Compliance Officer;
• Develop effective relationships with other control testing units such as Internal Audit and Risk;

Report Management

• Manage the planning, execution and reporting of compliance testing and ensure that all findings or observations identified are communicated, addressed and resolved in a timely manner;
• Monitor regulatory obligations, reports and action items, ensuring the accurate and timely preparation, review and submission to regulatory agencies, partners and to the Group;
• Ensures that compliance list of regulatory reports are up to date and applicable reporting procedures and due dates are promptly disseminated to report owners;

Project Management

• Serve as subject matter expert on business and support units' operations, policies and processes, providing training and promoting knowledge sharing of best practices across all business units as well as within the Compliance and Legal Team;

Corporate Communications & Training

• Responsible in timely notification to the BSP of new and terminated business partners, registration of additional locations, monitoring of compliance with AMLC regulations, field and oversight review by Western Union and other tie-up partners, as well as training and updating of policies;

People Development

• Builds the capabilities of the Compliance Testing & Monitoring team team by proactively managing the performance and competency development of each team member;
• Implements Performance Management of team members from performance, planning, monitoring, evaluation, and improvement to ensure career progression;
• Clarifies the roles, responsibilities and KPIs of each team member are understood to ensure achievement of targets; reviews and initiates modification as business requires;
• Trains and mentors team members in the execution of their duties, ensuring constant improvement in their professional skills, and preparing them for succession planning;
• Motivates, inspires and disciplines, when needed, team members to maximize their potentials and capabilities; and
• Create an atmosphere of respect, trust and accountability among team members to facilitate analytical,  problem-solving and innovative thinking.

Qualifications

• Education:  Graduate of Accountancy or Finance-related courses, preferably a Certified Public Accountant.
• Experience: At least two (2) years of actual compliance or audit experience within the banking/finance industry, preferably in a bank or remittance company.
• Knowledge: Demonstrate extensive knowledge in compliance laws, regulations and standards in regulated banking/financial industry, including remittance business regulations, Anti-Money Laundering and Counter-Terrorism Financing, Accounting Standards, Audit, and Internal Controls, compliance functions and audit techniques.

Why Join us?

• Our Purpose:To empower and uplift Filipinos by providing access and choices for financial inclusion
• Our Mission: We put the customer first by delivering innovative, reliable, and secure solutions to all our stakeholders and through digital and human touchpoints.
• Our Vision:A nation where financial services are inclusive and borderless
• Industry Leadership:As a subsidiary of Union Bank of the Philippines, PETNET is backed by a strong financial institution that leads the way in delivering innovative solutions and revolutionizing the banking industry.
• Professional Growth: We foster a culture of continuous learning and personal development. By joining our team, you will have access to training programs, mentorship opportunities, and a supportive work environment that encourages growth and progression.
• Team Collaboration:At PETNET, we believe in the power of collaboration and teamwork. You will have the opportunity to work alongside talented professionals, exchange ideas, and contribute to meaningful projects that shape the future of financial services.
• Impactful Work:Our services play a crucial role in facilitating global transactions, cross-border payments, and financial inclusivity. By joining us, you will make a tangible impact on individuals, businesses, and communities, both locally and globally.

If you are driven, innovative, and eager to make a difference, we invite you to join our team at PETNET. Be part of an organization that values excellence, fosters growth, and champions transformative solutions in the financial services sector.