COMPLIANCE HEAD

Job Mandate

The role is responsible for the Compliance Function of BDO Unibank, Inc.-Singapore Branch (SG Branch)

The principal function is to ensure that the SG Branch effectively complies with the statutory provisions, regulatory requirements or guidelines and codes of conduct applicable to its banking service and other regulated activities in Singapore.

Incumbent acts as the focal point within SG Branch for the oversight of all activities in relation to the prevention and detection of money laundering (ML) and terrorist financing (TF) and providing support and guidance to the senior management to ensure that ML/TF risks of HK Branch is adequately understood and managed.

Duties and Responsibilities

A. Regulatory Compliance

1. Ensures full compliance of requirements as specified in the Banking Act of 1970, Securities and Futures Act, as well as other codes, good practices, manuals and guidelines issued by the Monetary Authority of Singapore (MAS) and applicable regulations from the Philippine supervisors such as Bangko Sentral ng Pilipinas (BSP), Securities and Exchange Commission, among others; and
2. Ensures compliance with the internal policies and procedures in alignment with the regulatory requirements.

B. Anti-Money Laundering and Terrorist Financing

1. Ensures that SG Branch observes the applicable regulations, Bank’s policies and procedures and the Guidelines on Prevention of Money Laundering and Terrorist Financing in the handling of suspicious transactions involved in money laundering activities; and
2. Ensures that appropriate systems, manual and/or automated, as aligned with the Head Office as may be applicable, to facilitate the prevention of money laundering are in place.

C. Compliance Program Review

1. Identifies the relevant Singapore and Philippine laws and regulations which are applicable to SG Branch, and analyzes the corresponding risks of non-compliance and determine the action points to ensure compliance of the branch; and
2. Conducts periodic compliance review function on applicable legal and regulatory requirements and the frequency of reviews and assessments to be taken shall commensurate to the identified risk levels or as required by the MAS and/or BSP and other regulators in Singapore and the Philippines

D. Liaison between Singapore Branch and Regulatory Agencies

1. Acts as one of the key contacts between the branch and the regulatory bodies (e.g. Bangko Sentral ng Pilipinas – BSP, MAS, etc.);
2. Consults the said regulatory agencies for additional clarification on specific provisions of laws and regulations and/or compliance to their findings; and
3. Initiates dialogues with respect to borderline issues as they affect compliance by the branch.

E. Liaison between Singapore Branch and Head Office

1. Promotes a clear and open communication process within the branch and with Head Office to educate and address compliance matters; and
2. Aligns its compliance activities, manuals and guidelines with Head Office Compliance.

F. Compliance Advisories and Trainings

1. Trains and informs the branch staff on regulatory requirements through any of these means, as appropriate: lecture, meetings, compliance memo distribution of manuals, and the dissemination of regulatory circulars/issuances, etc.
2. Provides advisories to the branch on any matter related to regulatory issuances or laws; and
3. Conducts trainings to branch personnel, as necessary, to raise awareness and understanding of the Branch on regulatory issuances or laws and be fully aware of their responsibilities to ensure compliance with regulatory requirements and in combating money laundering.

G. Wealth Management

1. Provides consultative advice on regulatory requirements of, among other things, the Securities and Futures Act to ensure the overall compliance of SG Branch’s activities with applicable laws and regulations;
2. Formulates, reviews and updates SG Branch’s compliance policies and procedures in relation to Registered Activities under the Securities and Futures Act; and
3. Conduct respective training to staff as to the requirements, practice, and other pertinent activities relevant to the Securities and Futures Act.

H. Compliance Testing

1. Provides oversight to the conduct of Independent Compliance Testing (ICT) and Regulatory Compliance Testing Checklist (RCTC) within HK Branch; and
2. Ensures the timely reporting of ICT/RCTC Progress/Results to Head Office Compliance on a monthly basis.

I. Case Officer

1. 1. Acts as Case Officer for SG Branch

J. Administrative

1. Conducts Compliance meetings with Compliance team members;
2. Ensures clear understanding of the duties and responsibilities of the Compliance and Risk personnel;
3. Recommends improvements on existing policies and procedures;
4. Ensures submission of status reports and other reports as may be required by the SG Branch Chief Executive in timely and accurate manner;
5. Evaluates/rates the performance of Compliance personnel of SG Branch;
6. Monitors punctuality and attendance of Compliance personnel of SG Branch;
7. Ensures that all Compliance Personnel of SG Branch have undergone the required training necessary for the efficient discharge of functions;
8. Reviews and recommends for approval of the SG Branch Chief Executive the supplies request and inventory of Compliance;
9. Ensures that good housekeeping is maintained by SG Branch Compliance personnel;
10. Maintains the files of SG Branch Compliance Team in good order;
11. Ensures that emails are read and attended to timely; and
12. The SG Branch Head of Compliance shall be delegated other duties and responsibilities as deemed fit to his qualifications and designation by the senior management from time to time provided there is no direct conflict with his key roles and functions.