Chief Compliance Officer  

JOB OBJECTIVE:

The Chief Compliance Officer (CCO) oversees the Bank's Compliance and AML Program. It functions independently and objectively in reviewing and evaluating compliance issues and concerns within the organization. The CCO ensures that the Board of Directors, the Management and employees are in compliance with laws and the rules and regulations issued by regulatory agencies such as Bangko Sentral ng Pilipinas, Securities and Exchange Commission, and Philippine Deposit Insurance Corporation, among others.

The Compliance Group exists:

As a channel of communication to receive and direct compliance issues to appropriate resources, both internal and external; and

As a final internal resource on regulatory matters with which concerned parties may communicate after other formal channels and resources have been exhausted.

MAIN RESPONSIBILITIES:

• Establishes bankwide compliance and AML program that supports the goals and strategies of the Bank
• Develops, initiates, maintains, and revises policies and procedures for the general operation of the Compliance Program and its related activities to prevent, mitigate, and/or manage compliance risks.
• Collaborates with other departments (e.g., Risk Management, Internal Audit, Controllership, etc.) to direct compliance issues to appropriate existing channels for investigation and resolution.
• Consults with the Bank Legal Counsel, as needed, to resolve legal compliance issues.
• Acts as an independent review and evaluation officer to ensure that compliance issues and concerns within the Bank are being appropriately evaluated, investigated and resolved.
• Monitors, and as necessary, coordinates compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends.
• Identifies potential areas of compliance vulnerability and risk; develops and implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
• Provides reports on a regular basis, and as directed or requested, to keep the Compliance and Internal Audit Committee of the Board and Senior Management informed of the operation and progress of compliance efforts.
• Ensures proper and accurate reporting of reportable issues to respective regulatory agencies.
• Institutes and maintains an effective compliance communication program within the Bank.
• Works with the Training and Development Department and other units to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
• Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
• Serves as contact person/liaison officer with regulators.

OTHER RESPONSIBILITIES:

• Adheres to the provisions of the bank's Code of Conduct and Discipline.
• Reports any fraudulent, suspicious acts or unlawful activities / transactions immediately to immediate head to preempt potential risks to the bank.
• Attends training and seminars deemed necessary such as BMI's, CORE-PRO, Vision Casting & Culture Building, Anti-Money Laundering Act (AMLA) Training and others.
• Maintain cleanliness and orderliness in the work station.
• Ensures proper upkeep/maintenance of assigned equipment.
• Uses Unit resources, i.e., utilities, supplies, judiciously.

• Shall have the qualifications of a bank officer as prescribed under Subsection X142.2 of the MORB, particularly the fit and proper criteria such as integrity, probity, competence, education, diligence, experience and training relevant to his functions and responsibilities.
• Should have commensurate skills and expertise to provide appropriate guidance and direction to the bank on the development, implementation, and maintenance of the compliance program.