Compliance Advisory Officer

The Compliance Advisory Officer is primarily responsible for the management of compliance activities across the bank, including the timely review, dissemination, and promotion of awareness of various regulatory issuances, draft exposure circulars and other compliance related developments.

The role provides support to Regulatory Compliance Advisory Head, provides regulatory guidance, advisory opinions and interpretation of regulations to ensure alignment with applicable laws, regulations, and internal policies. The position also facilitates information and awareness sessions on key regulatory issuances, collaborates with stakeholders to strengthen compliance culture, and be able to contribute to the continuous improvement, digitalization, and automation of compliance processes and systems to enhance operational efficiency and regulatory compliance.

COMPLIANCE ADVISORYa) Assists the Compliance Advisory Head in providing guidance, opinion and/or advice on clarifications and inquiries from the various units of the bank on:

1. appropriate interpretation of circular provision and/or the proper and timely implementation of circular requirements

2. regulations affecting existing and evolving bank products and services

b) Recommend improvements where appropriate and ensure that compliance manual and policies and procedures are kept up to date in light of developing regulations

COMPLIANCE CULTURE/AWARENESS & SUPPORT

a) Disseminates new laws, circulars, rules and regulations upon receipt from the different regulatory bodies to the Group Compliance Officers (GCOs) within the bank by providing synopsis, implementing guidelines and other related items.

b) Disseminates regulator's exposure drafts of regulations to business units through the GCOs/GCCOS, consolidate and review comments and effects to business and submits consolidated comments/feedback to the regulator.

c) Ensures that the Electronic Compliance Library is updated.

d) Issues bulletins on findings of non-compliance/reminder for proper compliance. Coordinates with the Bank units GCOs/GCCOs to discuss and clarify compliance findings/exemptions and status on actions to be taken and reports the status/any significant issues as appropriate

e) Maintains a clear and open communication process with the various business units through the GCOs/GCCOs and/or various identified touch points within the bank to develop an effective compliance program / system;

f) Works with the different business units in providing compliance and risk awareness / education and attends and participates in various meetings / discussions, as necessary

1. Dimensions

4.1 Financial Responsibility (Amount impacted directly & indirectly)

· Potential monetary penalties that may be incurred by the Bank due to non-compliance with regulatory requirements and non-monetary penalties such as legal or regulatory sanctions, loss to reputation as a result of its failure to comply with laws, rules, related self-regulatory organization standards, and codes of conduct applicable

4.2 People Responsibility (No. of direct reports & indirect reports)

4.3 Key relationships (external & internal - levels)

· Internal – All business units, (Branches and Head Office), GCO and subsidiaries

· External – Regulators (BSP, PDIC); Industry Associations (BAIPHIL, ABCOMP)

QUALIFICATIONS:

5.1 Education - Bachelor's Degree in Commerce / Business or Finance / Management / Accounting / Economics / Law

5.2 Experience – At least 2 years relevant work experience in Compliance / Risk Management or Audit

5.3 Knowledge – Understanding of relevant laws and regulations and their potential impact on the Bank's operations/services and the principles/framework of bank compliance

5.4 Skills – Strong attention to detail, analytical-thinking, problem solving and decision making. People management skills, adept with basic computer functions. Proficiency in written and oral communication.