Compliance Manager, Regulatory Compliance (AVP)

Bank of Singapore opens doors to new opportunities.

At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today!

PRIMARY RESPONSIBILITIES

The Singapore Regulatory Compliance team supports BOS group in managing regulatory, compliance and conduct risks, through effective stakeholder engagement, robust regulatory change management and provision of pragmatic and timely advisory services. The team works closely with the business, risk and infrastructure units to advise them in analysing and resolving compliance issues, provides head office support to Regulatory Compliance teams in overseas offices/branches/subsidiaries, handles regulatory inquiries and affairs, is a subject matter expert on regulatory requirements relating to private banking / wealth management business and products, and helps drive effective implementation of head office policies and procedures arising from regulatory changes.

MAIN DUTIES

Advisory and Policy

• Take a consultative approach in providing timely and quality advice to business, risk and infrastructure units on compliance, regulatory and policy matters.
• As a subject matter expert, interpret and analyse new or revised regulatory requirements, and provide advice and guidance to responsible parties for timely and effective implementation of policies and procedures to comply with the requirements
• Work closely with business, risk and infrastructure units on the roll-out of Regulatory Compliance head office policies and procedures.
• Work closely with internal stakeholders and external counsels/consultants on the roll-out of cross border marketing guidelines.
• Assist to undertake management action plan to close Compliance-related audit points by regulator, internal audit and external audit.

Incident Management

• Work closely with business, risk and infrastructure units to assess incidents whether they are regulatory breaches and/or involve staff misconduct, and handle reporting of regulatory breaches and/or misconduct to MAS.

Regulatory Affairs

• Coordinate with internal stakeholders to address and respond to regulatory inquiries on a timely basis.
• Manage response to regulatory surveys/reports/request for info on a timely basis, and where necessary, prepare such surveys/reports/info.
• Maintain Regulatory Compliance Matrix
• Regulatory reporting (eg Form 28)

Others

• Prepare Culture & Conduct Dashboard and related reports.
• Timely escalation of adverse or significant compliance/regulatory issues to Regulatory Compliance management.
• Preparation of data and information for input to management reporting, including following up with internal stakeholders where required.

Requirements

• Minimum 6 years of relevant experience, preferably in private banking compliance; or with MAS or audit firms.
• Good understanding of MAS requirements, including Banking Act, Securities and Futures Act, Financial Advisers Act, Private Banking Code of Conduct, Fair Dealing Guidelines and Individual Accountability & Conduct Guidelines.
• Good understanding of the regulatory framework for private banking/wealth management business would be an advantage.
• Excellent interpersonal skills and the ability to work collaboratively in a team-oriented environment.
• Exceptional written and oral communication skills, with ability to communicate complex ideas effectively.
• Strong analytical and problem-solving skills; able to quickly identify the issues, exercise sound judgement and manage execution under pressure.
• Attentive to details and capable of multi-tasking in a fast-paced environment; able to meet tight timelines and work independently.
• Degree holder from a reputable university, preferably with outstanding academic record.
• Relevant professional/industry qualification such as ICA Diploma in Compliance would be an advantage.