Business Risk Compliance Specialist - Equities Broking & Research

RHB Bank; Kuala Lumpur; On-site; MYR 80,000 - 120,000; Full time

Job summary

A leading financial institution in Kuala Lumpur is seeking a Business Risk Compliance Specialist. The role entails providing comprehensive compliance advisory, facilitating regulatory checks, and supporting training efforts to ensure adherence to AML regulations. Candidates should possess 5+ years of experience in risk compliance, with a strong emphasis on operational risk assessment. This position provides an opportunity to directly influence compliance frameworks and contribute to the bank's governance strategies.

Qualifications

• Minimum 5 years of experience in risk compliance within banking.
• Strong understanding of AML/CFT regulations.
• Proven ability to provide compliance training and support.

Responsibilities

• Support compliance operations and risk advisory for the office.
• Facilitate compliance checks and document processes.
• Perform audits and assessments related to regulatory requirements.

Skills

Risk Management

Compliance Advisory

Training Coordination

Regulatory Knowledge

Operational Risk Assessment

Education

Relevant degree in Finance, Business, or Risk Management

Job description

Business Risk Compliance Specialist - Equities Broking & Research

Provide support to Head, GWB BCO & BRO to ensure smooth day-to-day operations of the office. BRCS duties include compliance & risk advisory, reporting, training, preparing and maintaining records pertaining to the GWB BCO & BRO Office.

Informed compliance confirmation and reporting

• Support BCO to provide informed and evidenced compliance confirmation in order for BCO to provide advisory support to Board/MD on planning, implementing and overseeing compliance risk related issues on all Business Pillars within SBG/SFG level.
• Attend the meeting with senior management for discussion and clarification on significant compliance matters as well as acting as GWB representative to attend the meeting with relevant stakeholders for discussion and clarification on relevant regulations and policy.
• Formulate diversified compliance procedures, guidance, and strategic direction for GWB business.
• Act as the GWB's representative for Group Audit checks, Compliance Testing, and Regulator Checks.
• Perform health check to assess the compliance level of business/function and timely escalation; develop the required tool for the assessment including the controls to mitigate compliance risk; ensure there is no error/incident based on the health check as evidence for quality assurance.
• Prepare consolidated divisional reporting for BCO's review on regulatory and AML/CFT reporting; e.g., report on high risk client for GMC/Board meetings.
• Escalate divisional compliance risk appetite breaches to BCO and ensure control actions to mitigate compliance risk are implemented for the area of coverage; e.g., incidents/high risk items followed up for closure/mitigation.
• Assist BCO to prepare and document detailed procedure for better oversight/governance of BCO; e.g., procedure up-to-date covering all regulatory requirements and able to challenge front line procedures.

Regulatory and AML/CFT self-assessment

• Perform sanity check/validation on the completed Compliance Risk Assessment (CRA) / Anti Money Laundering Risk Assessment (AMLRA) by the BA/FA heads.
• Take actions to ensure risks are mitigated and CRA/AMLRA rating are within acceptable rating and submit on time.
• Review and guide business to complete the Product Risk Assessment by collaborating with both process and product owner.
• Ensure that the Self-Assessment Advertisement Checklist and Self-Assessment Terms & Conditions Checklist are completed and reviewed by the BCO, RRCO and Group Marketing prior to issuance of such material.

Strategic Operational Risk Management

• Assist BRO by providing informed input and assessment on Non-Financial Risks related issues (Operational, Fraud Corruption, Business Continuity & Operational Resiliency, and Technology & Cyber Risks) for their respective BG/FG/SBG/SFG/SBS/SFS to enable advisory support to MD SFS Head and ensure all non-financial risks are considered and accounted for in strategic plans.
• Analyse relevant Group Bank risk appetites related to NFR, assist and provide inputs for BRO to recommend appropriate supporting metrics within SBG/SFG/SBS/SFS level.
• Act as first contact point for BG/FG/SBG/SFG/SBS/SFS to identify and incorporate NFR concerns into product and business proposals, including advising on process design governance considerations so proposals conform with defined standards from early stages.
• Advisory and monitoring on core risk management tools & functions.

RCSA/KCT/KRI/LDC/BCM/PRCA/Shariah Risk etc

• Facilitate annual review and ad-hoc review of ORM Tools (e.g., RCSA including RTP), KCT and KRI; work with SMEs to complete ORM Tools Annual Review and CORR exercise.
• Review and ensure KCT results (including action plans) are complete, accurate and timely submitted to GORM.
• Ensure all KCT/KRI exceptions logged in OpRisk Evo System timely and with complete accuracy.
• Assist process owner to perform PRCA, assess residual risk rating, complete PRCA documentation, ensure post-approval matters (if any) carried out.
• Review and ensure Shariah non‑compliance risk considerations integrated within GWB operational risk management (e.g., RCSA).
• Monitor and follow up on progress until completion/sign-off of BIA exercise within timeline.
• Lead the Business Continuity Plan (BCP) Test, Call Tree Test Exercise, BCM Manual review and outsourcing review completed within timeline.

1st LOD Advisory on Risk & Compliance Matters

• First point of contact on risk, regulatory and AML/CFT related queries; provide standard/common queries; complex queries escalated to BCO or BRO.
• Provide guidance to internal clients on appropriate interpretation and application of internal and regulatory policies/procedures.
• Provide training on updated regulations and/or policies and procedures to the business.
• Handle complex queries from business units such as IB business units.
• Communicate brief staff on new risk/regulations/guidelines; maintain evidence of briefing conducted.
• Accountably confirm regulatory/risk requirement and policy/procedure effectively implemented at business; advise business to complete surveys/exposure drafts as per request; obtain approval from BCO or BRO.
• Perform gap analysis on new or revised regulatory requirements and develop/drive implementation of action plan to address any gaps noted.
• Seek guidance from subject matter experts at IB Compliance or GNFR on regulatory matters; review and provide feedback from compliance perspective for escalated papers/issues/ recommendations to management/committee.

People Development

• Perform compliance & risk training needs analysis for respective business units under BRCS purview and identify training needs.
• Customize training material by working closely with BCO & BRO and subject matter expert with IB Compliance /GNFR.
• Coordinate execution of training via various training methods.

Record keeping

• Ensure record keeping of seven years or more (as required) is in place for the department.
• Provide assurance to BCO & BRO periodically; conduct periodic sample checks on availability of documents.
• Example reviewed documents: customer account opening form after the customer closed account three years back to check seven year availability.