The Risk & Compliance Officer is primarily responsible for partnering with the Risk and Compliance team in managing the risk and compliance requirements of Customer & Marketing Group. This function is tasked to oversee, monitor and coordinate the implementation of the Compliance Program within the Customer & Marketing Group. It includes the proper and timely dissemination and implementation of the various compliance requirements, compliance education and awareness; the conduct of compliance review, independent compliance testing, monitoring and reporting; assessment of the effectiveness of the compliance program and implementation of corrective action plans.
Core Responsibilities:
- Assists the Risk and Compliance team in ensuring adherence of Customer & Marketing Group to the Bank's operational risk and compliance requirements, including business continuity, risk assessment, mandatory trainings and compliance certifications
- Reviews of compliance-related documents such as but not limited to policies, standards, procedures, forms, templates, guidelines and/or proposals for regulatory consistency or requiring BSP approval related to the assigned business area
- Facilitates the review, certification (if applicable) and timely submission of all related regulatory reports and other documentary submissions of the group to the Compliance Office, the BSP and other regulatory agencies
- Promotes compliance awareness by promptly disseminating Compliance and AML/FATCA-related circulars, updates, and bulletins to relevant officers and employees, while serving as the primary contact for compliance-related queries and providing guidance to ensure regulatory consistency
- Serves as the contact for regular and special regulatory examinations, monitors the submission and completion of requirements and issues including AMLA / FATCA relate
- Serves as a Compliance liaison Officer/contact person to ensure effective collaboration of the Compliance Office with the individual business units
- Stays informed on evolving regulatory requirements by attending compliance-related trainings, symposiums, and discussions to ensure business plans and strategies align with current regulatory expectations.
- Assists in the identification and continuous updating of the regulatory compliance matrix with relevant laws/regulations and standards
- Facilitates the assessment of relevant laws and regulations in coordination with the affected units to identify the residual risk exposure in accordance with the approved BP! Compliance System Manual and mitigating controls to prevent or avoid risk of non-compliance
- Conducts periodic compliance independent testing and validate the compliance of the units within the area of responsibilities
- Conducts gap analysis and assessment of new regulatory requirements and/or amendments and monitor the compliance to the said requirements and/or conditions, as necessary
- Assists business units in preparing and submitting periodic self-assessment certifications to the Compliance Office within prescribed deadlines, confirming either full regulatory compliance, identification of compliance risks, or implementation of appropriate remedial measures
- Continually monitors the resolution / committed action plans on BSP ROE issues, Compliance Office findings, Internal Audit compliance-related findings
- Collaborates with other units for a possible collective risk assessment strategy and/or risk mitigation
- Submits a periodic status report to Compliance Office on actions takenon the violations/breaches until the exceptions have been fully addressed/resolved
- Assists the business units in the safe-keeping of supporting documents used as basis of the compliance self-assessment and make it available upon request by the Compliance Office and examiners
Qualifications:
- Bachelor's degree in Business or related field
- Minimum of 5 years in bank operations, risk and compliance; marketing exposure is a plus
- Demonstrates expertise in regulatory compliance, risk management, and business continuity planning and execution
- Strong analytical and problem-solving capabilities
- Familiarity with banking operations or general business functions
