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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 and/or as and when requested by the Management/BOD:
Assist to identify relevant stakeholders that are involved in the GA exercise. Disseminate the gap analysis template to the relevant stakeholders and monitor timelines for submission. Assist to conduct workshops and interviews with various stakeholders to discover more information and enquire further clarification to ascertain the bank's controls and practices in place. Assist to analyze the adequacy and design of controls indicated in the GA responses provided by business/support functions to which the Bank is compliant with the relevant law and the associated risks. Assist to validate controls and practices indicated by business/support functions to ensure that it has been documented in the bank's policy/procedure. Assist to Identify as gap for the requirements which has yet to be complied with. Work with Advisory Team to finalize the GA exercise. Assist to ensure that all relevant signatories has been obtained upon finalization of GA template.
Monitoring / Tracking of GA exercise conducted:
Assist to continuously monitor the execution on the implementation based on the timeline provided by regulators as well as the internal timeline. Assist to follow-up with business/support functions and monitor the timeline on the action plans provided based on the identified gaps and ensure that relevant approval has been obtained for the retarget of action plan timelines.
Reporting of GA exercise status:
Assist to prepare monthly report to the Management on the below:
Completion of GA exercise, Gaps identified and its action plan to close the gap, Timelines to close the gaps identified.
Guidelines/SOP on GA exercise:
Assist to review and update the established Guidelines on Gap Analysis conducted on Regulatory Issuance to ensure that BNM/Management/BOD's expectations are met.
Advisory:
Provide guidance on proper application and interpretation of laws, regulations and policies applicable to the functional support divisions (via response to advisory queries and relevant assessments). Review business policies related to regulatory requirements. Conduct independent assessments, when required.
Participation in integrating Gap Analysis tool via Pentana System:
Participate in testing/simulation of the system for Gap Analysis. Prepare SOP on GA exercise via Pentana System.
Training /Culture:
Participate in briefing/training to business on GA process. Assist the Head and Manager, Regulatory Advisory in promoting compliance culture and practice of compliance in the Bank including but not limited to write up for compliance awareness e.g. gap analysis and Compliance Insight. Assist Head, Regulatory Advisory in implementation of compliance framework and initiatives on group wide basis.
Communication with Regulators:
Assist to prepare/review letters/emails etc to regulators in relation to gap analysis.
Others:
To undertake any other duties as assigned by Head, Regulatory Advisory and/or GCCO. To be the backup for team members during team members' absence and/or as and when required.
KEY DECISION
- Ensure no significant audit/supervisory issues
- Ensure timely communication and completion of the gap analysis
- Ensure effective GA exercise have 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