Job Purpose
The purpose of this job is to support the LOOP DFS
Risk Management and Compliance function through the implementation of the
Compliance Framework within the standards defined by the Group including the
identification, measurement, monitoring and reporting of risk and enforcing
Compliance with policies, processes, procedures and controls.
The role of the Compliance Specialist is to analyze
risk data that is collected from various sources, including risk registers,
incident reports, and audit findings and be capable of using analytical tools
to identify trends and patterns in the data to assess the overall Compliance
risk landscape. This role is responsible for ensuring regulatory and policy
compliance to all applicable laws, regulations, policies and standards that
impact LOOP DFS.
Duties And Responsibilities
Internal Processes (70%)
- Develop and maintain models and tools used to predict
Compliance potential losses from various types of risks.
- Develop and implement new risk management strategies and tools
that help reduce Compliance risks exposure and maximize profits.
- Collaborate with LDFS Commercial Team, Operations teams,
Engineering, Business performance, Product and Delivery Management on ways
to set appropriate Compliance controls, and internal alerts and to
mitigate Compliance Risk.
- Engage with risk owners and the wider business to promote risk
management practices and culture across their respective areas.
- Develop key risk and control indicators to identify and
control Compliance Risk.
- Monitor the health of the organization in order to proactively
detect and address vulnerabilities.
- Assist with the maintenance of the Compliance risk register
for all Business and Subsidiary Units.
- Support in the management of the Compliance Risk assessment
process for circulation to relevant Committee.
- Conduct a comprehensive assessment of existing control
processes and procedures and identify potential control gaps and
weaknesses.
- Follow up on Closing of Compliance audit findings, Internal
Audit and Independent reviews and liaising with other functions to ensure
that Compliance related audit findings are satisfactorily closed.
- Advice senior management on Compliance trends and exposures
LOOP DFS is experiencing and provide recommendations to minimize the risk.
Provide expert guidance and training to staff on policies and procedures
compliance
- Support the establishment of the complete Compliance scope for
LOOP DFS based on applicable laws, regulations, policies and related
policy standards and policy guidelines, and aim at achieving 100%
Compliance
- Conducting regular evaluations of the effectiveness of risk
management policies and procedures to ensure they are meeting the
organization’s objectives.
- Support the Risk Manager in the reporting of Compliance risks
to the relevant committees.
- Understand and implement regulatory requirements: Develop
policies and procedures to ensure Compliance with various regulations.
- Lead on FATCA & CRS compliance by ensuring that various
functions are informed of their responsibilities, due diligence is
conducted on US & CRS indicia customers and necessary reports are
filed with the Internal Revenue Service (IRS) and the Local Taxman.
- Coordination of the Incident Management and Crisis Management
Team(IMT).
- Coordinate activities of the Risk Champions across LDFS Units
Customer (10%)
- Turnaround time standards or benchmarks for decisions on
Project development targets and applications that support a customer
obsessed culture i.e. Service Level Agreement (SLA) / Turn-Around Time
(TAT) and Customer Satisfaction Index (CSI) benchmarks.
Learning and Development (20%)
- Risk Culture – Continuously researching and improving the
operational risk process, governance and capabilities and drive awareness
amongst the LDFS staff through day-to-day risk management support and
education, in collaboration with Risk Champions
- Drive competency focus through continuous learning and job
enrichment to ensure high performance.
Job Specifications
Academic:
- University degree preferably in Actuarial Science, Statistics,
Economics, Finance or Business Administration or related fields.
- Proficiency and Practical experience in data analytics and use
of relevant MIS, BI & MS Office applications and statistical computer
languages e.g. SQL, R, Python.
- Strong IT skills and experience with office automation tools
Desired work experience:
- At least 5 years banking experience with at least 2 years
covering Compliance risk management.
- Experience with risk management and reporting in a highly
automated environment with Big data analytics will be an added advantage.
Job Competencies
Technical Competencies
- A risk, Compliance or audit related professional Certification
such as, CFE, Compliance, KYC, CFE is highly desirable.
- A good understanding of all core processes and knowledge of
regulatory and statutory requirements.
- Strong financial modelling, analytical and problem-solving
skills with an emphasis on data science and risk management.
- Experience working with and ideation and creation of data
architectures.
- Knowledge of a variety of machine learning techniques
(clustering, decision tree learning, artificial neural networks, etc.) and
their real-world advantages/drawbacks.
- Knowledge of advanced statistical techniques and concepts
(regression, properties of distributions, statistical tests, Poisson
distribution and proper usage, etc.) and experience with applications.
- Excellent written and verbal communication skills for
coordinating cross functional teams.
- Proficiency in ISO 9001 2015 is highly desired in regards to
Quality Management System.
- Risk Assessment and Identification – knowledge of the
financial sector and risk management guidelines as well as current banking
and fintech operations practice.
- Risk Management Design – Deep familiarity with digital banking
and payments products and the relevant business processes
Behavioural Competencies
- Excellent planning and organizational skills with ability to
breakdown complex items to actionable elements.
- Relate easily and naturally with executives, business
managers, technical teams and customers. Has excellent listening skills
and understands the desires and challenges of all our leaders and
customers.
- Able to change plans, methods, opinions or goals in light of
new information, with the readiness to act on opportunities. Highly
effective in adapting to differing environments.
- Capable of developing a sound understanding of the motives,
needs, and concerns of others and developing a deep understanding of their
complex stakeholder network. Can anticipate the motives and expectations
of others effectively.
- Self-motivated and self-managing.
How To Apply
