JOB SUMMARY:
Under the direct supervision of the Compliance Testing and Validation Department Head, performs activities of the Compliance Testing and Validation Department related to the implementation of the Bank's Compliance Program and adherence by Head Office Units and Branches to regulatory requirements and/or standards in the performance of business or functions, as the case may be.
JOB DESCRIPTION:
- Provides assistance to the DH in the preparation and updating of the Bank's Compliance Testing Plan and identification of relevant laws, rules, regulations, policies and ethical standards on banking operations and identification and analysis of corresponding compliance risks.
- Provides assistance to the DH in the supervision of the coordination with various units/branch personnel concerned in the implementation of the Compliance Program, particularly the Compliance Testing Plan.
- As may be required, assists the DH in coordinating with Head Office Units and branches with regards to documentary and other examination requirements during regular BSP and other regulatory examinations.
- Conduct independent compliance testing of Head Office Units and Branches relating to banking laws, rules and regulations; maintains working papers/documentation of findings and prepares corresponding comment sheets.
- Coordinate with the Branch/Unit Management regarding findings/exceptions noted in order for the Branch/Unit to respond and/or take appropriate course of action.
- Discuss with Branch/Unit Management significant issues as a result of the independent compliance testing, explain attendant compliance risks and secures actions to be taken including specific time table on noted exceptions/observation.
- Prepares draft report for endorsement to and review of the DH and assists the DH in preparation of report of results to the Corporate Governance Committee and the Anti-Money Laundering Committee.
- Supervises Compliance Analysts/Compliance Assistants in the conduct of independent compliance testing, and participates in the discussion with branches/head office units of the significant issues noted in the ICT.
- Supervises the preparation of ICT reports and reviews the reports prepared by Compliance Assistants/Compliance Analysts.
- Supervises the preparation of new/updated Compliance Program related to banking laws, rules and regulations that will supplement conduct of compliance testing for review of the DH for roll-out to Head Office Units and Branches.
- Supervises the preparation of summary reports and presentation materials for Corporate Governance Committee and other Bank committees as needed.
- Promotes best practice and ethical standards.
- Performs other tasks that may be assigned from time to time.
- Conducts annual Performance Appraisal of the Compliance Testing Analyst.
JOB QUALIFICATIONS:
- Graduate of a 4-year business course in Accounting, Internal Audit or Banking and Finance. Preferably a Certified Public Accountant (CPA) or Certified Internal Auditor (CIA).
- Must have a least 4-5 years of relevant work experience in Internal Audit or Independent Compliance Testing. Should possess knowledge and expertise in banking and AML laws, rules and regulations.
