Manager, Regulatory Gap AnalysisApply locations Menara Affin, TRX time type Full time posted on Posted 26 Days Ago job requisition id JR102075
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JOB PURPOSE
To assist the Head - Strategic Compliance & Advisory, in implementing, monitoring and reporting of gap analysis of the Bank.
To assist the Head - Strategic Compliance & Advisory, in implementing and monitoring of the compliance program for business and support divisions and ensure effective management of the compliance risk in the business and support activities in meeting with the relevant regulations, directives and laws emanating from external regulators that impact the business and operations of the Bank and Islamic Bank.
ACCOUNTABILITIES
Coordinate Gap Analysis (GA) on new guidelines/ laws/ directives/ concept papers etc:
Assist to identify relevant stakeholders involved in the GA exercise.
Disseminate the gap analysis template to stakeholders and monitor timelines for submission.
Conduct workshops and interviews with stakeholders to gather information and clarify controls and practices in place.
Analyze the adequacy and design of controls indicated in GA responses.
Validate controls and practices to ensure documentation in the bank's policy/procedure.
Identify gaps for compliance requirements.
Work with Advisory Team to finalize the GA exercise and ensure all relevant signatories are obtained.
Monitoring / Tracking of GA exercise conducted:
Continuously monitor execution based on timelines provided by regulators and internal timelines.
Follow-up with business/support functions on action plans based on identified gaps and ensure relevant approval for retargeting action plan timelines.
Reporting of GA exercise status:
Prepare monthly reports to Management on completion of GA exercise, gaps identified, and action plans to close the gaps.
Guidelines/SOP on GA exercise:
Review and update established Guidelines on Gap Analysis to meet BNM/Management/BOD expectations.
Advisory:
Provide guidance on application and interpretation of laws, regulations, and policies.
Review business policies related to regulatory requirements and conduct independent assessments when required.
Participation in integrating Gap Analysis tool via Pentana System:
Participate in testing/simulation of the system for Gap Analysis and prepare SOP on GA exercise via Pentana System.
Training /Culture:
Participate in training to business on GA process.
Assist in promoting compliance culture and practice in the Bank.
Communication with Regulators:
Prepare/review letters/emails to regulators regarding gap analysis.
Others:
Undertake any other duties assigned by Head, Regulatory Advisory and/or GCCO.
Serve as backup for team members during absences.
KEY DECISION
Ensure no significant audit/supervisory issues.
Ensure timely communication and completion of the gap analysis.
Ensure effective GA exercise has been conducted.
Qualification and Experience
Bachelors Degree/Professional Qualification in Finance, Accounting, Business, Economics and related discipline.
Minimum 3 years in financial services-related field or regulatory compliance work preferred.
Skills and Knowledge
Knowledgeable in the bank's policies and procedures, including areas under FSA/IFSA, SC, BNM, ABM, FEA rules and regulations.
Advance knowledge of the banking and financial system.#J-18808-Ljbffr