Compliance Testing Officer (Head Office and Branch)

Bank of Commerce (Philippines); Mandaluyong; On-site; PHP 700,000 - 1,200,000; Full time

Job summary

Bank of Commerce (Philippines) invites applications for a role under the Compliance Testing and Validation Department Head to support the implementation of the Bank's Compliance Program and ensure adherence to regulatory standards across Head Office units and branches.

The position involves assisting in planning, training, coordination with regulators, and conducting independent testing and monitoring, with regular reporting to governance committees.

Qualifications

• Assists the Department Head in preparing and updating the Compliance Testing Plan.
• Identifies relevant laws, rules, regulations, and policies affecting banking operations.
• Monitors coordination with units/branches to implement the Compliance Program.

Responsibilities

• Conduct independent compliance testing for Head Office Units and Branches.
• Maintain working papers and comment sheets for findings.
• Coordinate with Branch/Unit Management to address findings and actions.
• Discuss significant issues with Branch/Unit Management and secure timelines.
• Assist in preparing draft reports for Corporate Governance and AML committees.
• Supervise monitoring of remedial actions and update committees.
• Oversee ICT reports and supervise compliance staff in testing.
• Assist in updating Compliance Program related to banking laws for roll-out.
• Prepare summary reports and materials for bank committees.

Job description

Under the direct supervision of the Compliance Testing and Validation Department Head, performs activities of the Compliance Testing and Validation Department related to the implementation of the Bank's Compliance Program and adherence by Head Office Units and Branches to regulatory requirements and/or standards in the performance of business or functions, as the case may be.

DUTIES AND RESPONSIBILITIES

A. Compliance Program / Plan

• 1. Provides assistance to the DH in the:
  • a. preparation and updating of the Bank's Compliance Testing Plan;
  • b. identification of relevant laws, rules, regulations, policies and ethical standards on banking operations and identification and analysis of corresponding compliance risks; and
  • c. supervision of the coordination with various units/branch personnel concerned in the implementation of the Compliance Program, particularly the Compliance Testing Plan.

B. Communication & Training

As may be required, assists the DH in the preparation of training materials on the Bank's Compliance Program, Compliance Testing Methodology, among others and/or conducts lectures on the same.

C. Constructive Working Relationship with Regulatory Agencies

As may be required, assists the DH in coordinating with Head Office Units and branches with regards to documentary and other examination requirements during regular BSP and other regulatory examinations.

D. Compliance Testing, Monitoring & Assessment

1. Compliance Testing, Controls and Monitoring

• a. Conduct independent compliance testing of Head Office Units and Branches relating to banking laws, rules and regulations; maintains working papers/documentation of findings and prepares corresponding comment sheets
• b. Coordinate with the Branch/Unit Management regarding findings/exceptions noted in order for the Branch/Unit to respond and/or take appropriate course of action;
• c. Discuss with Branch/Unit Management significant issues as a result of the independent compliance testing, explain attendant compliance risks and secures actions to be taken including specific time table on noted exceptions/observations;
• d. Prepares draft report for endorsement to and review of the DH and assists the DH in preparation of report of results to the Corporate Governance Committee and the Anti-Money Laundering Committee;
• e. Supervises the monitoring of status of remedial plans taken on issues arising from Independent Testing and the preparation of updates to the Corporate Governance Committee and the Anti-Money Laundering Committee for review of the DH;
• f. Supervises Compliance Analysts/Compliance Assistants in the conduct of independent compliance testing, and participates in the discussion with branches/head office units of the significant issues noted in the ICT; and
• g. Supervises the preparation of ICT reports and reviews the reports prepared by Compliance Assistants/Compliance Analysts.

2. Assessment and Validation

Supervises the preparation of new/updated Compliance Program related to banking laws, rules and regulations that will supplement conduct of compliance testing for review of the DH for roll‑out to Head Office Units and Branches.

E. Reporting

Supervises the preparation of summary reports and presentation materials for Corporate Governance Committee and other Bank committees as needed;

F. Administration

1. 1. Assists the DH in the preparation of Compliance Testing and Validation Department Annual Business Plan, Annual Accomplishment Report and Annual Training Plan for approval of the Chief Compliance Officer;
2. 2. Conducts performance appraisals/evaluation as part of the Bank's Performance Appraisal System.
3. 3. Assists the DH in interviews/selection of candidates for possible hiring

G. Others

1. 1. Promotes best practice and ethical standards.
2. 2. Performs other tasks that may be assigned from time to time.
3. 3. Conducts annual Performance Appraisal of the Compliance Testing Analyst.