Vice President, Business Compliance Control Office (BCCO)

Maybank Investment Banking Group; Singapore; On-site; SGD 80,000 - 120,000; Full time

Job summary

An established industry player is seeking a Vice President for their Business Compliance Control Office in Singapore. This role involves leading compliance efforts, ensuring adherence to regulatory requirements, and collaborating with various teams to mitigate compliance risks. The ideal candidate will have extensive experience in business risk control and compliance within the financial sector. You will play a pivotal role in shaping a robust compliance culture while providing strategic oversight and guidance to the business. If you are a proactive leader with a strong background in compliance and risk management, this opportunity is perfect for you.

Qualifications

• 8-12 years of experience in Business Risk Control or Compliance.
• Excellent knowledge of MAS and SGX regulatory requirements.

Responsibilities

• Lead the BCCO function and supervise compliance activities.
• Conduct risk-based reviews and recommend corrective actions.

Skills

Business Risk Control

General Compliance

KYC Compliance

Stakeholder Management

Analytical Skills

Problem-Solving

Education

Bachelor's degree in Finance

Bachelor's degree in Business

Bachelor's degree in Law

Job description

Maybank Securities is a leading brokerage house and investment bank in ASEAN. Maybank Securities provides services in corporate finance, debt markets, equity capital markets, derivatives, retail and institutional securities broking and research.

The Business Compliance Control Office acts as the 1.5 line of defence (“1.5 LoD”), working in collaboration with the relevant business/support functions which is the 1st line of defence (“1st LoD”) and the 2nd line of defence functions (“2nd LoD”), in particular the Compliance team, in identifying and managing regulatory/compliance risks. The BCCO team will work closely with the relevant business/support teams and consult with the independent Compliance team to ensure that Maybank Securities operates its business activities in adherence to all applicable regulatory requirements, internal policies, and risk management frameworks while supporting business growth in a compliant manner.

Key Responsibilities

• The Vice President shall act as the team lead for the BCCO function in Singapore and supervise the following activities.
• Identify all applicable regulatory requirements (amongst others, the SFA, FAA, AML/CFT, Sanctions, AB&C, FATCA, CRS, PDPA, SGX rules and cross border regulatory requirements) in consultation with the Compliance team and working closely with the 1 LoD to ensure that they comply with the regulatory requirements in their day-to-day business activities
• Collaborate with 1st LoD and Compliance team for completion of gap analysis on new business, updated laws and regulations, changes in regulations and regulatory landscape, industry trends, best practices and international standards for effective management of business Compliance risk, and formulate appropriate policies, procedures, processes and follow up with the 1st LoD for implementation and carry out remediation as required.
• Proactively provide value-added oversight to the 1st LoD and recommending solutions to strengthen Compliance governance framework within Maybank Securities.
• Lead the formulation and establishment of Quality Assurance methodologies and review strategy, which include the scope, timeline and related procedures on regulatory requirements.
• Conduct thematic and targeted risk-based reviews to identify weaknesses in areas of front-office controls, AML/KYC and FATCA/CRS, amongst others, and recommend and execute corrective actions.
• Assist the 1st LoD with the completion of the periodic Compliance-related risk assessments.
• Conduct/track training and coaching to the 1st LoD with relevant subject matter experts where necessary in collaboration with the Compliance team to achieve a sustainable Compliance culture in the Company with training plan progress submitted to Compliance team.
• Tracking, validating, monitoring, escalating, assist in root cause analysis and reporting of all issues including regulatory breaches and non-Compliance issues to Compliance team upon discovery.
• Follow up on issues highlighted by relevant regulators, internal audit, external auditors, Compliance team or any other parties on the 1st LoD and report the status to Senior Management and Compliance team.
• Maintain business related registers in areas including but not limited to AML/CFT, Sanctions, AB&C, COI, Introducers, Compliance training with information collated from 1st LoD.
• Follow up with the 1st LoD and assist the 1st LoD to prepare responses/information required arising from queries by the Compliance team, external brokers, regulators/exchanges etc
• Assist the 1st LoD in completing due diligence/KYC questionnaire required by brokers/counterparties
• Advise and assist the 1st LoD on all external reporting obligations such as substantial shareholding disclosure, short position reporting, OTC derivative trade reporting and FPI reporting, and prepare information required for all other required regulatory submissions/applications
• Perform fit and proper assessment and determine the licensing and examination requirements for each licensed representative by working closely with the 1st LOD and Compliance team, and assisting with the submission and follow up on the representative notification to the MAS and trading representative registration with the SGX.
• Work closely with the 1st LoD, Compliance and Human Capital team to identify any fit and proper issues relating to the licensed representatives on an ongoing basis and conduct fit and proper assessment arising from the issues identified, and perform periodic fit and proper checks.

Requirements

• Bachelor’s degree in Finance, Business, Law, or Bachelor's degree of business relevance.
• At least 8-12 years of Business Risk Control function 1.5 Line of Defence experience/general compliance and/or financial crime compliance/KYC experience in similar capacity in the financial industry, preferably within a capital markets or banking environment.
• Discipline/Related Field: Legal, Audit, Risk Management
• Prior experience in a 1.5 Line of Defence (Business Compliance) or 2nd Line Compliance role is highly desirable
• Excellent working knowledge of the relevant regulatory requirements of MAS and SGX.
• Good working knowledge of PDPA and IRAS Regulations on International Tax such as FATCA and Common Reporting Standards (CRS)
• Strong understanding of capital markets, investment banking and business needs
• Familiarity with trading activities, investment products, market conduct rules, and AML/KYC regulations.

Skills & Attributes

• Excellent communication and stakeholder management skills.
• Strong analytical and problem-solving abilities.
• Ability to balance business needs with regulatory requirements in a commercially pragmatic manner and provide solution-driven advice.
• Attention to detail with strong organizational and reporting capabilities.

We regret that only shortlisted candidates will be notified.