Compliance Consultant (7+ years) – Singapore recruitment
Scope of work:
- Oversee the review, interpretation, and dissemination of current and proposed laws and regulations, code of conduct and ethics and industry best practices;
- Provide consultation and advice to partners regarding compliance and risk avoidance;
- Work with business units on business development strategies to minimize regulatory risk and assure compliance with internal policies, relevant laws and legislation;
- Communicate and liaise with MAS on regulatory matters;
- Establish and conduct training courses for all staff on AML/KYC; code of ethics and conduct; regulatory requirements and updates; industry best practices and compliance related matters
- Appointed MLRO and responsible for matters relating to anti-money laundering, economic sanctions, and anti-terrorist financing; and
- Responsible for the planning and execution of the Compliance Monitoring and Testing Programme ('CMTP') for the business activities, with responsibility for completion of scheduled monitoring and testing.
Responsibilities:
- Review, understand and analyse the impact of regulatory changes and thereafter disseminate the information to the relevant business units.
- Provide compliance advice (including regulatory implications) to the business on any ongoing business issues and new markets/new products, and on procedural changes and review the appropriateness on changes made to procedures manuals.
- Review documentation that requires compliance input and provide the advice/comments appropriately, and provide advice/feedback to the business on any risks noted during the course of work.
- Review and provide feedback on consultation papers issued by regulators and/or industry bodies that relates to proposed changes which have an impact on the business.
- Prepare and follow up on regulatory reports and queries, and compliance reports for submission to the relevant internal governance bodies.
- Attend the relevant local governance meetings where applicable.
- Organize and manage the implementation of new compliance initiatives as and when required.
- Maintain the complaints log and breach register; and work jointly with the business to investigate and follow-up on complaints and breaches/errors.
- Maintain and update the Compliance Manual.
- Responsible for licensing issues, including maintenance of the Singapore Branch Representatives Register and administering the Fit and Proper declaration by representatives and relevant persons.
- Maintain the outsourcing register and ensure complete documentation for each outsourced arrangement.
- Daily monitoring of MASNET correspondence for Singapore Branch and distributing the information to the relevant departments.
- Prepare, arrange and provide the relevant training for staff on anti-money laundering and anti-terrorist financing; code of ethics and conduct; fiduciary duties; regulatory requirements updates; and industry best practices.
- Provide audit services support from the compliance perspective.
- Interact with regulators, internal and external auditors on regulatory and compliance related topics.
- Maintain and update the CMTP, in coordination with APAC Regional Manager of Monitoring and Testing. Undertake the scheduled compliance monitoring and testing reviews. Complete review work within defined timescales as set out within the CMTP, ensuring that work is of high quality and completed using standard templates, including the issuance of the final report.
- Work closely with the Compliance Officers and MLROs in the APAC, EMEA and NA, including sharing of information and knowledge.
- Carry out any special/adhoc projects as and when the need arises.
Requirements:
- Graduate, with 7+ years of experience, preferably with strong financial industry knowledge/background coupled with compliance or audit or legal or risk management course of work
- Experience in interfacing and communication with all level of staff, and external regulators
- Good knowledge and understanding of the local regulations and industry best practices developments, particularly in the areas of compliance, corporate governance and risk management.
February 19, 2010
• Tags: Compliance, Compliance Consultant (7+ years), Legal careers in the Singapore, Singapore recruitment • Posted in: Financial