Chief Compliance Officer - Remote - Up to 250K

weSource Management Consultancy Firm; Manila; Remote; PHP 1,200,000 - 1,800,000; Full time

Job summary

A financial consulting firm is seeking a Chief Compliance Officer responsible for ensuring compliance with BSP regulations and overseeing policy development. The role involves management of risk reviews, compliance monitoring, and providing guidance to partners. Ideal candidates should possess at least 8 years of senior compliance management experience, expertise in BSP regulations, and a strong ability to communicate effectively with regulatory authorities. Join our team to lead our compliance initiatives in a client-friendly manner.

Qualifications

• At least 8 years of senior management experience in Compliance, ideally from the bank or fintech.
• Relevant expertise in compliance/legal background allowing approval by the BSP.
• Understanding of both control functions and client-friendly business operations.

Responsibilities

• Define policies within operational, AML, IT and information risk areas.
• Ensure partners meet compliance with regulatory authorities.
• Management of risk and audit reviews of partners.

Skills

Compliance expertise / knowledge of BSP regulations

Experience in communications with the BSP

Leadership of internal audit functions

Definition of risk management processes

Clear and concise writing

Job description

Overview

The Chief Compliance Officer is responsible for ensuring there is a strong policy environment to ensure compliance with BSP regulations. This role will also conduct reviews of clients to ensure they are meeting the compliance (and other risk) requirements of the bank. This will involve oversight of policy development and related areas.

Responsibilities

• Compliance and Policy development, defining policies within the areas of operational policy, AML policy, IT and information risk policy, etc.
• Maintenance of Compliance Monitoring System
• Compliance reporting
• Compliance reviews of partners
• Ensure partners (both origination / cash management partners and system providers) meet the requirements of regulatory authorities
• Provide inputs into Risk Assessment of partners
• Management of risk reviews of partners
• Ensure documentation of risk reviews of partners is complete, approved to the right level internal
• Audit reviews of partner policies; prioritization of internal audit processes based on risk assessments; review of internal processes
• Review processes of external partners
• Monitor exceptions and reports and provide feedback to partner-facing teams
• Secretariat to the Risk Committee, Audit and Compliance Committee
• Ensure adequate AML coverage
• Serve as the regulated positions: Chief Compliance Officer and AMLO

Profile and Capabilities

• Deeply understand the regulatory requirements and what is required to implement these requirements in a partnership-based bank
• Creatively find solutions
• Understand the practical implications of policies and identify solutions which meet regulatory requirements while also meeting the bank's clients' needs

As per regulation, this position will report directly to the independent Risk and Audit / Compliance Committees. The position will, however, work closely with the Head of Operations / CEO in the implementation of duties.

Metrics to monitor

On time implementation of partner risk reviews and policy development plan. BSP assessment of the bank's performance (BSP rating). Feedback from partner-facing teams.

Required skills and qualifications

This position requires expertise in control functions, while also understanding the implications of these functions on business operations to ensure the functions are implemented in a client friendly manner.

At least 8 years of senior management experience in Compliance, ideally from the bank or fintech companies.

The specific areas of expertise seen in the candidate will include:

• Compliance expertise / knowledge of BSP regulations
• Experience in communications with the BSP
• Definition of a compliance plan
• Experience in policy development. Clear and concise writing
• Relevant expertise in compliance / legal background allowing the candidate to be approved by the BSP
• Definition of risk management processes, including market and liquidity risk and IT risk management, including responsibilities of the information security officer
• Leadership of internal audit functions and definition of audit timetable
• Oversight of audit functions; management of internal and external reviews
• Review current policies, identify gaps in overall framework
• Complete policy in information risk management
• Review the partner risk reviews to determine whether there are partners whose risk reviews need to be updated to reflect any newly identified issues or whether there are partners whose internal processes need to be reviewed
• Ensure compliance with AML regime; ensure there are AML policies in place for partners
• Continue to implement the compliance regime, compliance reporting
• Set up reporting to Board Committees on: Compliance review, Policy status, Partner Risk Assessment