First Level Executive, Market Conduct Supervision (Banking)

ROLE PURPOSE

• Conduct/Support risk-based supervision of banking institutions, development financial institutions and payment instrument issuers (and money brokers) based on a robust Market Conduct Supervisory Framework (MCSF) to promote a strong culture of compliance and fair treatment of financial consumers (FTFC) by financial service providers (FSPs).
• Conduct/Support the implementation of the Internal Conduct Supervisory and Enforcement Framework (ICSEF) to ensure proportionate and timely enforcement on any breaches of the Bank’s Acts, Guidelines and Policy Documents relating to conduct/FTFC towards influencing meaningful change in FSPs’ culture of compliance.

PRINCIPAL ACCOUNTABILITIES

• Conduct/Support risk-based supervisory activities, supported by prompt and proportionate supervisory and enforcement actions to achieve the Bank’s desire outcomes and department’s mandat
• Conduct/Support the implementation of the MCSF using the appropriate supervisory tools to ensure effectiveness of supervisory approach in transitioning from a rule-based to principle-based conduct regime
• Conduct/Support the administration of enforcement actions in line with the ICSEF and the Bank’s Enforcement and Penalty Framework to ensure proportionate, just and timely action on any breaches of the Bank’s Acts, Guidelines and Policy Documents relating to conduct/FTFC
• Conduct/Support review to ensure proportionate, just and timely resolution and remedial actions by FSPs on breaches of the Bank’s Acts, Guidelines and Policy Documents relating to conduct/FTFC
• Build close collaboration with Regulations Section and relevant line departments to ensure meaningful feedback loop to support effective policy formulation and review process
• Conduct/Support the assessment on regulatory applications from FSPs and ensure compliance with established policies and charter as well as provide ideas for continuous enhancements to operational efficiency and meaningful feedback loop to better deliver the expected FTFC outcomes (especially pertaining to product design related matters)
• Build good relationships with working level of key stakeholders (e.g. internal departments, FSPs, industry associations, consumer groups, OFS) to earn their trust and support for effective implementation of market conduct expectations, robust deliberation on current, emerging or potential market conduct risks and contribute toward better prioritisation of supervisory interventions to be taken
• Collaborate with the working level of financial conduct supervisors from advanced jurisdictions (e.g. supervisory colleges, study visits, online modules) to continuously enhance and streamline MCSF and ICSEF with global best practice
• Build good relationship with the working level of the related organisations/stakeholders that deliver FTFC objectives (e.g. facilitate the operation of AKPK, support resolution of market conduct issues relating to abandoned housing, sale of NPLs)
• Assist manager in the formulation/review of Standards/Guidelines towards strengthening the market conduct regulations, professionalism and service quality of banking institutions, development financial institutions and payment instrument issuers, as and when required.

QUALIFICATION/EXPERIENCE:

Academic Qualifications: Bachelor's Degree or professional qualification that are related to Honors degree in Banking / Finance / Economics / Accounting / Risk Management or other related disciplines.

Experience: Preferably with at least 2 years of working experience in areas of banking, accounting and auditing is an added advantage.

ONLY SHORTLISTED CANDIDATES WILL BE NOTIFIED