Advice & Guidance:
Actively encourage directors, senior managers and others to consult Compliance on initiatives and plans at the outset.
Give constructive and practical advice with clear explanation on both the requirements and the intention of the relevant regulations and rules advice to the business.
Have or acquire, where possible, good contacts with the regulator and with Compliance Officers from other companies
Must always have an eye on the future and must take the likelihood of changes to current regulations into account in giving advice.
Monitoring/ Review:
Closely liaise with Internal Audit should ensure sufficient and necessary assurance could be delivered on a most effective and efficient manner without unnecessary burden on the business.
Actively monitor the business to provide assurance to all relevant parties including Company management, Group that the processes, procedures and systems in the business are delivering satisfactory standards of compliance, Group Corporate Governance.
Encourage and assist functional department in development its own monitoring process to ensure the compliance with applicable local laws and other requirements from the Group.
Reporting:
Submit the regular or ad hoc reports to Local Regulator as per requests.
Report to the company&039;s Management Committee/ Risk Management Committee/ Supervisory Committee, advising the Committees of the standards of compliance prevailing in the business, the results of compliance monitoring, problems and weaknesses in the business and the impact which proposed regulations will have on the business.
Submit regular compliance reports to Group Compliance in accordance with the standard format and requirements set by Group Compliance from time to time.
Report major compliance issues and problems to the CEO and Group Compliance on a timely basis in accordance with the policies and requirements set out in the Group Compliance Standards/ Guidelines.
Training & Enhancing Awareness:
Responsible for conducting direct training or assisting and/or providing advice in the development of Company training strategies, policies and materials related to Compliance, Financial Crimes and AML issues.
Liaise & Coordinate:
Develop and maintain appropriate relationship or perform certain specific activities with various external/ internal bodies and parties: Risk Management Committee, Risk Managers, local senior management including CEO, Regulators, External Auditors, Group Compliance, Compliance functions of other local subsidiaries
Anti- Money Laundering Function (AML):
Ensure that money laundering and terrorist financing deterrence procedures and controls are robust and in line with the Group.
Responsible for the compliance with the local as well as relevant overseas money laundering and terrorist financing regulations.
Financial Crime Function:
Ensure any breach or potential breach to the Anti- Bribery and Corruption (ABC) risk appetite or ABC policy requirements is timely reported to the local senior management and Group.
Ensure clear and practical Financial Crimes related policies and procedures are in place through either directly adopting the Regional policies and procedures or where local regulations or senior management.
Ensure the appropriate investigations and follow- up actions are taken in time.
Development & Implementation of an Operational Risk Management Program:
Develops Company’s risk management information requirements, reporting thresholds and monitoring methods for determining priorities.
Review and challenge the incident data, Key Indicators and Risk and Control Assessment are updated based on the implication of internal incident on Departmental Risks, advice if there are any additional incidents that should be reported/ discussed.
Provide Company’s Risk Management Committee update on the on- going risk exposure monitoring (credit, counterparty, liquidity, operational and market risks).
Ensure business functions and company management in compliance with all internal requirements on risk management.
