Head of Compliance Dept

Job summary

The role Head of Compliance Department is to assist Head of Legal & Compliance Division in satisfying the compliance responsibilities. It also acts as the conscience of the Company and preserves its reputation by ensuring all activities are conducted in compliance with all applicable laws and regulations as well as Group standards and requirements.

Key Roles & Responsibilities

1. Regulatory and internal policies compliance

• Ensure SVFC implements the process of adhering to laws, regulations, standards, and other rules set forth by governments and other regulatory bodies, including gap analysis and communicate with relevant divisions/departments to close the gaps;

• Monitor business operations to comply with relevant government regulations, parent company’s policies and Company’s internal policies;

• Review Company’s internal policies for possible risks and liabilities (if any) and research compliance requirements for new initiatives;

• Review Company’s contracts/agreements/policies drafted by related functional divisions/departments in accordance with Compliance roles and responsibilities and/or requested by Division Head;

• Draft, update and/or enhance Compliance policies/guidelines/processes when necessary;

• Provide and consolidate comments on draft regulations relevant to SVFC’s operations and communicate with related divisions/departments as well as government agencies and other organizations regarding this matter.

• Other tasks if necessary or required.

2. Advice & Guidance:

• Give constructive and practical advice with clear explanation on both the requirements and the intention of the relevant regulations and rules advice to the business.

• Must always have an eye on the future and must take the likelihood of changes to current regulations into account in giving advice.

• Actively encourage directors, senior managers and others to consult Compliance on initiatives and plans at the outset.

• Have or acquire, where possible, good contacts with the regulator and with Compliance Officers from other companies

3. Monitoring/Review:

• Actively monitor the business to provide assurance to all relevant parties including Company management, Group that the processes, procedures and systems in the business are delivering satisfactory standards of compliance, Group Corporate Governance.

• Encourage and assist functional department in development its own monitoring process to ensure the compliance with applicable local laws and other requirements from the Group.

• Closely liaise with Internal Audit should ensure sufficient and necessary assurance could be delivered on a most effective and efficient manner without unnecessary burden on the business.

4. Reporting:

• Submit regular compliance reports to Group Compliance in accordance with the standard format and requirements set by Group Compliance from time to time.

• Report major compliance issues and problems to the CEO and Group Compliance on a timely basis in accordance with the policies and requirements set out in the Group Compliance Standards/ Guidelines.

• Report to the company's Management Committee/ Risk Management Committee/ Supervisory Committee, advising the Committees of the standards of compliance prevailing in the business, the results of compliance monitoring, problems and weaknesses in the business and the impact which proposed regulations will have on the business.

• Submit the regular or ad hoc reports to Local Regulator as per requests.

5. Training & Enhancing Awareness:

• Responsible for conducting direct training or assisting and/or providing advice in the development of Company training strategies, policies and materials related to Compliance, Financial Crimes and AML issues.

6. Liaise & Coordinate:

• Develop and maintain appropriate relationship or perform certain specific activities with various external/ internal bodies and parties: Risk Management Committee, Risk Managers, local senior management including CEO, Regulators, External Auditors, Group Compliance, Compliance functions of other local subsidiaries

7. Anti-Money Laundering Function (AML):

• Responsible for the compliance with the local as well as relevant overseas anti money laundering and terrorist financing regulations.

• Ensure that money laundering and terrorist financing deterrence procedures and controls are robust and in line with the Group.

8. Financial Crime Function:

• Ensure clear and practical Financial Crimes Combating related policies and procedures are in place through either directly adopting the Regional policies and procedures or where local regulations or senior management.

• Ensure any breach or potential breach to the Anti-Bribery and Corruption (ABC) risk appetite or ABC policy requirements is timely reported to the local senior management and Group.

• Ensure the appropriate investigations and follow-up actions are taken in time.

9. Others:

• Other ad-hoc tasks assigned by Division Head or CEO

1. Education:

• University graduated, preferable legal/banking/accounting/audit degree holder.

2. Minimum experience

• Prior experience (5 years) in legal or compliance or risk management functions in in banking, finance, accounting or audit is an advantage.

3. Knowledge

• Compliance management (Advice & Guidance, Monitoring/Review, Liaise & Coordinate, AML, Financial Crime Function, Development & Implementation)

• Team Management

• Develop risk management strategies and processes

• Consumer finance/compliance/legal/audit/ law

4. Skills

• Compliance regime

• Risk management

• Compliance/audit techniques

• Reporting

• Market information

• Effective communication skills/ Problem-solving

• Give advice/ Feedback

• Team Building

• Motivating

• Training

• Critical Thinking Ability