RESPONSIBILITIES:
- Develop, review and update the Bank's Compliance Program, its policies and procedures to ensure compliance with relevant banking laws and regulations of the Bangko Sentral ng Pilipinas;
- Assist line management, and in particular, the President in their responsibility for complying with all relevant laws, rules and regulations, including the provision of advice on compliance issues.
- Ensure that any pertinent regulatory issues for new bank products, services, or marketing initiatives are identified early in the business planning process to prevent the commencement of business initiatives which may contravene regulations, and to make sure that such issues are addressed in a timely and cost-effective manner.
- Identify compliance risks, analyze the corresponding risks of noncompliance and coordinate needed procedures to ensure compliance therewith.
- Prepare charts on major laws and regulations and keep them up to date.
- Continuously implement compliance testing for all branches on applicable legal and regulatory requirements in order to test the effectiveness of the program. These include testing for different types of risks such as high, medium, and low.
- Ensure that laws and regulations relating to money laundering are complied with, including all Know Your Customer (KYC) procedures and the procedures for the reporting of covered and suspicious transactions (STR).
- Foster good relations with relevant regulators especially the BSP. Maintain close coordination with BSP and other related banking sectors of the BSP to keep abreast with the latest compliance policies, regulations, and issuances. Proactively initiate dialogue, and if necessary, discuss borderline issues.
- Coordinate with BSP examiners during examinations and act as the primary contact on matters concerning BSP requirements. Prepare summary reports to the Audit Committee and Board of Directors on the BSP's findings noted in the regular examination. Assist in the preparation of responses to BSP's Reports of Examination.
- Prepare periodic reports to the Board of Directors/President concerning the Bank's current record of compliance.
- Provide informational assistance to line managers, supervisors and staff on compliance matters.
- Review and monitor the policies, procedures and manuals of the Bank and assist in amendments/revisions if there are any. Internal control manuals should be updated and reviewed at least annually.
- Attend BSP sponsored seminars on compliance as well as the regular monthly meetings of the Association of Bank Compliance Officers (ABCOMP).
- Conduct Anti-Money Laundering and Terrorist Financing Prevention Program (AMLA) Training, and other relevant training that will safeguard the employees and the Bank.
- Regularly check the BSP website and prepare the Compliance Advisories covering new circulars, circular letters and memoranda for dissemination to all employees.
Job Types: Full-time, Permanent
Pay: Php70,000.00 - Php80,000.00 per month
Schedule:
- 8 hour shift
- Day shift
- Monday to Friday
Education:
Experience:
- Compliance: 5 years (Preferred)
- Banking: 5 years (Preferred)
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