Company: Union Bank of the Philippines
Position: Regulatory Compliance Officer- Support Services
Office Location: UBP Plaza
Job Summary: The Regulatory Compliance Officer plays a critical role in ensuring the organization's adherence to financial regulations, internal policies, and industry standards. This position is responsible for reviewing contracts, interpreting and advising on regulatory requirements, assessing product compliance risks, and coordinating regulatory examinations. The role supports the business in maintaining a strong compliance culture and mitigating regulatory exposure across all operations.
Duties And Responsibilities
Contract Review
- Review and assess contracts, service agreements, and vendor arrangements to ensure compliance with applicable financial regulations and internal policies.
- Identify and escalate potential compliance risks or regulatory gaps in contractual terms.
- Collaborate with Legal, Procurement, and relevant business units to ensure contracts are aligned with regulatory expectations and risk appetite.
Regulations Review and Advisory
- Monitor, interpret, and analyze relevant financial regulations (e.g., BSP, AMLA, SEC, Data Privacy Act) and global standards impacting the company's operations and offerings.
- Provide regulatory advisory support to business units, including guidance on new regulations, regulatory changes, and compliance obligations.
- Draft and update internal compliance policies, manuals, and procedures to reflect current regulatory requirements.
- Support regulatory reporting and liaise with regulators as needed.
Product Compliance Risk Assessment
- Conduct compliance risk assessments for new and existing financial products and services.
- Evaluate product features, marketing materials, and operational processes for alignment with regulatory requirements.
- Work closely with Product Development, Risk Management, and Marketing teams to identify and mitigate compliance risks throughout the product lifecycle.
- Maintain documentation of compliance assessments and decisions for audit and regulatory review.
Regulatory Examinations
- Coordinate and oversee regulatory examinations conducted by financial regulators and external auditors.
- Prepare and organize documentation and responses required for regulatory inspections.
- Liaise with internal stakeholders to ensure timely and accurate submission of information to regulators.
- Track and follow up on remediation actions arising from regulatory findings.
Required Skills
- Bachelor's degree in Law, Finance, Business Administration, or a related field (JD or equivalent preferred).
- Minimum 35 years of experience in regulatory compliance within the financial services industry.
- Strong understanding of Philippine financial regulations and regulatory bodies (e.g., BSP, SEC, AMLC).
- Excellent analytical, communication, and stakeholder management skills.
- Ability to work independently and collaboratively in a fast-paced, regulated environment.
Preferred Certifications
- Certified Regulatory Compliance Manager (CRCM)
- Certified Anti-Money Laundering Specialist (CAMS)
- Other relevant compliance or risk certifications
