Chief Compliance Officer
RBT Consulting Corporation
- Makati, Philippines, , Makati, Metro Manila, PhilippinesMakatiMetro ManilaPhilippinesPhilippines
- Full timeFULL_TIME
Expired 6 years ago
2018-03-08T16:00:00+00:00Job closed.
Job Description
- Monitor compliance with the provisions and requirements of Compliance Program;
- Determine violation/s and report the same to the Legal Department and copy furnish to the General Manager;
- Responsible for ensuring the integrity and accuracy of all documentary submissions to BSP;
- Conduct investigations of possible breaches of the compliance policies and report the same to the General Manager as well as to Bangko Sentral ng Pilipinas (BSP) if necessary.;
- Educate related laws and regulations to colleagues, review and update laws and regulations related to the Bank's operations and provide recommendations for the local legitimacy;
- Report the compliance matters required by the Legal Department in the monthly business meeting, and submit the meeting minutes to the Overseas Branches Administration Department;
- Submit the Compliance Report required by the Legal Department separately and accordingly;
- Formulate or update internal regulations or operating manuals;
- Disclose major litigation and non-litigation in the annual report;
- Report occurrence of operating risks or major contingencies;
- Pay attention to legal updates at any time, collect related data and punishment cases from the competent authority's website, organize related training programs, report on legal updates and educate these updates to tellers in the monthly business meeting,and post the same in the Law and Regulation Bulletin in Notes. If laws and regulations of the countries conflict with Taiwanese laws and regulations or are difficult to be implemented, report to the responsible units of Head Office and notify the Legal Department;
- With respect to the Chief Compliance Officer position, the duties and responsibilities shall include, but not limited to, administering, maintaining, coordinating and monitoring the Bank’s compliance with applicable laws, regulations, policies, programs, initiatives, rules and requirements from competent authorities and Head Office.;
- Mandate under Bangko Sentral Ng Pilipinas (BSP):
- Identify and mitigate business risks which shall include, but not limited to the following;
- Risk to reputation that arise from internal decisions that may damage a bank’s market standing;
- Risks to reputation that arise from internal decisions and practices that ultimately impinge on the public’s trust of a bank;
- Risks from the actions of a bank that are contrary to existing regulations and identified best practices and reflect weaknesses in the implementation of codes of conducts and standard of good practices;
- Legal risks to the extent that changes in the interpretation or provisions of regulations directly affect a bank’s business model;
- Identify laws and regulations, analyze and prioritize compliance risk;
- Provide periodic compliance testing;
- Develop constructive working relationship with regulators;
- Establish and maintain clear and open communication within the Bank;
- Monitor and assess Compliance System;
- Function as Oversight Tool for Top Management;
- Mandate under Anti-Money Laundering Council (AMLC);
- Training of employees and maintenance of record keeping ;
- Monitoring the implementation of Anti-Money Laundering Program;
- Assess and report Covered and Suspicious Transactions;
- Securities and Exchange Commission (SEC);
- Policy and regulatory compliance;
- Reporting, registration and licensing;
- Philippine Deposit Insurance Corporation (PDIC);
- To observe and comply Republic Act No. 9576;
- To monitor compliance of regulatory issuances on record keeping of bank deposit liabilities;
- To disclose and disseminate information of all PDIC regulatory issuances;
- Bureau of Internal Revenue (BIR);
- To interpret, analyze, discuss, and disseminate tax information to all concerned business and administrative units;
- To monitor implementation and compliance of Revenue Regulation Issuances;
- To coordinate, attend tax conferences;
- Makati City - Local Government Unit (LGU);
- To monitor compliance of Makati City Ordinances ;
- Management Directives and Head Office Policies;
- Monitor implementation of corrective measures on internal and external audit findings;
- Monitor implementation of Anti-Money Laundering Program and submit annual AML Flight Plan;
- Prepare and submit annual AML Independent Audit Flight Plan;
- Monitor status of findings, recommendations and corrective actions of BSP Results of Examination and discuss the same during the Top Management meeting every month;
- Update and report to Head Office Compliance Self-Monitoring Testing Forms;
- Monthly reports of all circulars issued by the Bangko Sentral ng Pilipinas;
- Ensure implementation of management directives and Head Office Policies;
- Handle self audit functions and report the same to Internal Audit-Head Office;
- Build-up a library of all relevant laws as well as the rules and regulations issued by regulatory bodies and to keep such library current and updated by seeing to it that copies of new laws, circulars, rules and regulations, amendments thereto, repeal/revocation thereof, are on file;
- Evaluation and interpretation of laws, circulars, and other regulatory issuances shall be made with the proper consultation with the Legal Officer, Officers and members of the Association of Bank Compliance Officers of the Philippines (ABCOMP), Bankers Association of the Philippines (BAP) and concerned regulatory agencies /bodies.;
- Identifying the department affected by the new provision, circular, amendment, repeal, revocation, and subsequently discusses the risks and consequences of non-compliance;
- Proper dissemination of the written interpretation of the provision of law, circulars, rules and regulations together with the implementing guidelines, administrative sanctions and monetary penalty imposed for non-compliance;
- Conduct seminars, preside meetings among the officers, compliance committee members relative to the interpretations of laws, circulars, rules and regulations, implementing guidelines, and risk implications;
- Preside meeting of Compliance Committee represented by all business and administrative units who shall handle the preparation, implementation, and monitoring of internal policies, and compliance functions down to their department;
- Conduct quarterly briefing to Anti-Money Laundering Task Force to make them aware of the latest news and updates pertaining money laundering;
- Report of compliance status to the Top Management Oversight Committee headed by the General Manager every month;
- Conduct independent testing of compliance monitoring procedure to validate the accuracy of the certification issued by Compliance Coordinators covering the following;
- Know your customer policies and procedures (KYC)record-keeping, correspondent bank account opening,electronic fund transfers, issuance of manager’s checks, gift checks, demand drafts and similar instruments, and dormant accounts;
- Monitor and properly document all violations committed by department and employees concerned and report the same to the Legal Department and copy furnish to the General Manager;
- Coordinate with Human Resource Department and participate in the performance evaluation of employees with emphasis and consideration on their performance as Compliance Coordinators;
Minimum Qualifications
- 5-years working experience in Banking industry as Compliance Officer;
- General knowledge and understanding of banking, as well as legislation, rules, and regulations impacting banking.
- Advance computer literacy knowledge of MS Word, MS Excel, and MS Outlook.
- Ability to communicate effectively, verbally and in writing, to clearly express logically reasoned ideas.
- Ability to think clearly and assess matters quickly and to solve problems with the minimum fuss and time.
- Ability to make/take calculated decisions and to think forward and act accordingly.
- Knowledge of sourcing information (including the internet).
- Ability to influence Senior and Executive Management.
Licenses and Certifications
- Lawyer
Jobs Summary
- Job Level
- Director / Executive
- Job Category
- Accounting and Finance
- Educational Requirement
- Bachelor's degree graduate
- Recruiter response to application
- Once in a while
- Office Address
- Makati, Metro Manila, Philippines
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About RBT Consulting Corporation
RBT Consulting Corporation, is an end-to-end Human Resources Consulting company.
We deal with all services relating to Human Resources, from Executive Search, HR and Payroll Outsourcing and Human Resources Information System (HRIS).
RBT Consulting Corporation, is a member of Sagesoft Solutions Inc. Group of Companies, a dynamic group of companies who are in to IT Infrastructure, open sources systems and lately, ventured into payment gateways and financial services.
RBT Consulting Corporation's main focus is on the development are productivity oriented solutions and high impact HR services ranging from HR System Development and implementation to organization development consulting. We also cater to outsourced HR services, payroll and talent search and placement.
Our Human Resource Information System is powered by RBT Software which is used by more than a hundred clients located in the Philippines, USA, France, Australia and Spain.