Head - Compliance Review

About the Role

Reporting to the Chief Compliance Officer, the Head of Compliance Review will spearhead risk-based compliance reviews covering areas relating to regulatory compliance, financial crime and Shariah to ensure internal controls are aligned with the applicable regulatory requirements.

What will you do:

• Spearhead the development of risk-based review approach and testing program for each review.
• Perform adherence review & testing review in accordance to methodology in a timely manner.
• Prepare quality reports and presentation materials.
• Responsible to ensure reports and review documentation are concise, accurately convey the issues identified and make appropriate recommendations to mitigate the risks in a timely manner.
• Provide periodic updates to Senior Management and the Board (including Shariah Board) on compliance review findings.
• Develop annual Compliance Review Plan.
• Establish/enhance Compliance Review Methodology, Review Program and Templates as and when required.
• Maintain oversight on Management Action Plans and monitor remedial actions and validation taken.
• Assist the Chief Compliance Officer to manage Compliance Division, including executing strategic compliance policies and tasks, manage compliance risk, goal setting, professional development, performance reviews, reporting, advisory, guidance, education, and trainings.
• Supervise the work performed by the subordinates in Compliance Review Department. Responsible for engagement planning and management.
• Ensure timely reporting and feedback to BNM, regulatory agencies, ARBM senior management and the Board (including Shariah Board).
• Report periodically on review status and escalate issues to the Executive Committee, Executive Risk Management Committee and Board Risk and Compliance Management Committee.
• Ability to understand the importance of privileged and confidential information.
• Ensure strict confidentiality of Information at all times.
• Recommend to Senior Management remedial actions for implementing Compliance related requirements, arising from review exercise.
• Work with business and support departments to emplace processes to enable compliance with regulatory requirements.
• Cooperate and assist officers of various Regulatory Agencies.
• Contribute to the ongoing Compliance and bank wide initiatives.
• Identify areas requiring attention/strengthening and recommend changes and improvements in line with industry standards and applicable regulations regarding compliance and regulatory changes.
• Represent ARBM in committees and meetings relating to compliance review and Shariah review.
• Manage relationships and coordinate closely with stakeholders to ensure that compliance risks are considered in a timely manner.
• Ensure all records pertaining to Compliance are properly and securely maintained and up to date.

Skills and experience you possess:

• Bachelor’s Degree or equivalent education level in any related field.
• Possess a minimum of 8 years in compliance and/or audit or risk and at least12 years' working experience in banking.
• Professional Certificates in Compliance or related field (i.e. AML/CFT certification) will be an added advantage.
• Good knowledge and understanding of banking laws and regulations, including Shariah requirements.
• Ability to interpret laws and regulations and work within gray areas.