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Kuala Lumpur

    Head, Strategic Compliance - Malaysia, Kuala Lumpur - AFFIN Group

    AFFIN Group
    AFFIN Group Malaysia, Kuala Lumpur

    3 days ago

    Default job background
    Full time
    Description
    Create the future with Affin You too can make a difference.

    We continuously innovate to transform our financial services landscape - making banking better and easier. Join us at AFFIN, where the open minds meet and be inspired by a shared commitment to great work. You too can make a difference.

    Job Purpose

    To assist the GCCO in performing effective compliance function on Group-wide basis in ensuring awareness and compliance with regulatory requirements. This includes Group oversight on reporting and escalating compliance matters to Board and Senior Management, implementing and monitoring the Group Compliance Framework on continuous basis, dissemination of new/ changes in regulatory requirements followed with effective management of compliance risk and implementation and monitoring of compliance program for business divisions. In addition, to also assist the GCCO in overseeing Group policy as well as establishing policies and procedures on Group-wide basis.

    Accountabilities

    To assist the GCCO in the following:

    Group Oversight – Group Compliance Governance, Reporting and MIS
    • Strategise and establish internal reporting mechanism for accurate and timely flow of material compliance issues within Affin Group to the Board of Directors, Board Committee and Senior Management including reporting of breaches/non-compliances and update on new/ revised regulations, industry standards on regular basis to facilitate the Board's and Senior Management's oversight on Group's compliance with applicable laws, regulations, guidelines and standards governing the Group's operations.
    • Prepare and submit periodic compliance reports to Board, Board Compliance and Senior Management on all Group compliance activities/ matters, breaches, AML/CFR initiatives, and new regulatory developments
    • Prepare and/or review meeting minutes for GMC, GBCC and Board(s)
    • Manage, review and maintain the compliance inventory on compliance issues/activities.
    • Ensure timely escalation of significant compliance issues and activities to Board and Senior Management.
    • Advisory and point of reference to subsidiaries on compliance and governance issues including the interpretation of laws and regulations.
    • Advisory and point of reference to Business Units (as and when required) on compliance and governance issues including the interpretation of laws and regulations.
    • Assist and provide advisory and consultation on selected projects and initiatives, as and when required.
    • Ensure gap analysis updates are promptly reported to GMC, GBCC and Board(s)

    Group Compliance Framework/ Policies
    • Lead and oversee the development, review and enhancement of a robust compliance and regulatory control framework to govern Affin Group through Group-wide Compliance Framework and Plan.
    • Prepare and develop Group Compliance Framework and Annual Compliance Plan for GCCO's approval, including Group-wide compliance activities.
    • Review the approved framework and plan from time to time for adjustments and re-approval, as and when necessary.

    Centralised Depository of Regulatory Circulars, Notices and Guidelines
    • Act as a central repository of all new/ revised regulatory guidelines and ensure these guidelines are captured from the regulatory portal, e-mail, letter, e.g., KijangNet, on a daily basis and recorded in the regulatory tracker.
    • Ensure the impact of new and revised guidelines are analyzed and reviewed and communicated in a timely manner to all relevant stakeholders, including Senior Management and Board.
    • Circulate impacted regulatory issuances to AHIBB Compliance.

    Communication with Regulators
    • Liaise with regulators e.g., BNM on clarification of guidelines, policy, as well as queries from BUs
    • Coordinate and manage any meeting requests with BNM, including scheduling, paper preparation, etc
    • Negotiate with regulators on tasks such as extension requests, simplified submission, etc
    • Review and vet letters/applications to regulators
    • Draft/prepare selected special letters to BNM, on case-to-case basis, as and when required.

    Composite Risk Rating (CRR) Coordination and Submission
    • Coordinate and review annual CRR responses to BNM
    • Prepare and submit annual CRR letter to BNM
    • Coordinate, prepare and submit quarterly CRR progress update to BNM, including tabling to GMC, GBCC and Board(s)

    Reporting on Breaches / Non-Compliance
    • Review, assess and challenge breach report submitted by Business Units
    • Table breach report to GMC, GBCC and Board(s)
    • Submit MCIPD breaches to BNM on a timely basis
    • Prepare annual breach trend analysis and table at GMC and GBCC
    • Follow-up on open action items for breaches on a half-yearly basis and table at GMC and GBCC.

    Monitoring and Reporting
    • KRI (Monthly & Quarterly)
    • Monitoring on Risk Appetite Statement (Monthly)
    • RCSA Reporting (Quarterly)
    • Material Risk Assessment (Annually)

    Track Deadline of Regulatory Submissions
    • Maintain database on regulatory submission deadlines, received from various sources, e.g., KijangNet
    • Coordinate, review and submit regulatory submissions on a timely basis
    • Liaise with regulators, e.g., BNM, on any extension requests for regulatory submissions.

    Training/Culture
    • Prepare and provide regular training to stakeholders, e.g., quarterly BRCM training, quarterly CCO engagement, compliance roadshows, etc
    • Assist the GCCO in promoting compliance culture and practice of compliance in the Bank
    • Assist GCCO in implementation of compliance framework and initiatives on group wide basis.

    Others
    • Review and update of Affin Bank's Annual Report write-up for Compliance, including Statement on Risk Management and Internal Control (SORMIC)
    • To undertake any other duties as assigned by GCCO.

    Skills/Knowledge

    • Bachelors Degree/Professional Qualification in Finance, Accounting, Business, Economics and related discipline.
    • Minimum 7 Years in financial services-related field or regulatory compliance work preferred.
    • Knowledgeable in the bank's policies and procedures, including areas under FSA/IFSA, SC, BNM, ABM, FEA rules and regulations
    • Advance knowledge of the banking and financial system
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