Compliance Officer

Compliance Officer (Assistant to Chief Compliance Officer)

Overview:

The Compliance Officer will assist the Chief Compliance Officer (CCO) for testing and monitoring and in ensuring the Bank's compliance with regulatory requirements and internal policies. This position involves supporting the CCO in a variety of functions related to regulatory examination, monitoring, testing, corporate governance, related party transactions, and more.

Key Responsibilities:

1. BSP Examination and Corrective Actions

2. Assist in the BSP examination process and communicate results to the Board of Directors and relevant departments.

3. Gather and review corrective action plans to ensure compliance with BSP directives.
4. Submit the Board-approved commitment to BSP.
5. Monitor departmental compliance with BSP directives.

6. Monitoring of Regulatory Issuances, Surveys, and Queries

7. Monitor regulatory issuances, communications, and surveys, and disseminate them promptly to relevant departments.

8. Assist departments in submitting responses to the BSP when required.
9. Oversee the departments' timely submission of regular reportorial requirements.
10. Track compliance with new laws, rules, and regulations.

11. Compliance Manual/Program/Plan

12. Develop and maintain a Compliance Manual and Compliance Program, updating them as necessary to align with relevant laws and regulations.

13. Design a Compliance Plan that aligns with current resources and ensures effective implementation.
14. Present the Compliance Manual, Program, and Plan to the Audit Committee and Board of Directors for approval.

15. Compliance Testing and Self-Assessment

16. Develop and maintain comprehensive guidelines for:

    • Compliance Testing, including objectives, methodology, sampling, and reporting.
    • Compliance Self-Assessment (CSA), ensuring forms, reports, timelines, and monitoring mechanisms are clear and effective.
    • Develop and maintain AML working files for testing and CSA.
    • Prepare and update a Compliance Testing Plan based on risk assessment and the Compliance Program.
    • Conduct thematic reviews and develop methodologies for their execution.
    • Assist in risk assessments and the prioritization of compliance testing.
    • Compliance Reporting

17. Prepare a monthly Compliance Report for the Audit Committee and Board of Directors, covering:

    • Status of compliance with BSP directives.
    • Significant regulatory updates and communications.
    • AML/CTF activities.
    • Compliance Testing results and corrective actions.
    • Status of compliance program activities.
    • Reportorial Requirements

18. Ensure the timely and accurate submission of the following reports:

    • Annual Report to the BSP.
    • Integrated Annual Corporate Governance Report (IACGR) to the SEC.
    • Reports on Related Party Transactions (RPTs) and Material Intra-Group Transactions to the BSP.
    • PDIC Bank Information Sheet (BIS) and Reporting Package.
    • Reports on Crimes and Losses to the BSP.
    • Audit Committee Support

19. Record and maintain minutes of Audit Committee meetings.

20. Corporate Governance

21. Annually review and update Committee Charters and present changes to the Corporate Governance and Board of Directors for approval.

22. Review and update the Corporate Governance Manual.
23. Ensure submission of the Annual Corporate Governance Report (ACGR) to the SEC.
24. Conduct self-assessments for the Board and Board-level Committees, presenting results to the Corporate Governance Committee and Board of Directors.
25. Coordinate annual training on Corporate Governance for the Board of Directors and Senior Management.

26. Related Party Transactions (RPTs)

27. Review and update RPT policies and procedures.

28. Maintain and update the RPT database.
29. Present RPTs requiring review and approval to the RPT Committee.

30. Risk Assessment and Compliance Investigations

    • Conduct risk assessments related to new laws, regulations, and products.
    • Investigate compliance incidents and carry out further investigations as necessary.

    • Other Functions

    • Perform additional duties as assigned by the Chief Compliance Officer.

Qualifications:

• Bachelor's degree in Law, Finance, Business, or related fields.
• Relevant experience in banking compliance, risk management, or corporate governance.
• Strong knowledge of BSP regulations, AML/CTF laws, and banking compliance requirements.
• Excellent communication, organizational, and analytical skills.
• Ability to work independently and in collaboration with cross-functional teams.
• Detail-oriented and capable of managing multiple tasks simultaneously.