Chief Compliance Officer - Remote - Up to 250KThe Chief Compliance Officer is responsible for ensuring a strong policy environment to ensure compliance with BSP regulations. This role will also conduct reviews of clients to ensure they are meeting compliance and other risk requirements of the bank. This will involve oversight of:
Compliance and Policy Development:Operational policyAML policyIT and information risk policyOther Responsibilities: Maintenance of Compliance Monitoring SystemCompliance reportingApplications to the BSPCompliance reviews of partnersEnsure partners (both origination/cash management partners and system providers) meet the requirements of regulatory authorities. Provide inputs into Risk Assessment of partners and management of risk reviews of partners.
Ensure documentation of risk reviews of partners is complete and approved at the right level. Conduct internal audit reviews of partner policies and prioritize internal audit processes based on risk assessments. Review internal processes and external partner processes.
Monitor exceptions and reports and provide feedback to partner-facing teams. Act as the Secretariat to the Risk Committee, Audit, and Compliance Committee. Ensure adequate AML coverage.
This position shall serve as the following regulated positions: Chief Compliance Officer and AMLO.
Key Skills and Qualifications: Deep understanding of regulatory requirements and the ability to implement these requirements in a partnership-based bank.Creative problem-solving skills.Understanding of the practical implications of policies and the ability to identify solutions that meet regulatory requirements while also fulfilling the needs of the bank's clients.As per regulation, this position will report directly to the independent Risk and Audit/Compliance Committees while working closely with the Head of Operations/CEO in the implementation of duties.
Metrics to Monitor: On-time implementation of partner risk reviews and policy development plans.BSP assessment of the bank's performance (BSP rating).Feedback from partner-facing teams.Required Skills and Qualifications: This position requires expertise in control functions with an understanding of their implications on business operations to ensure implementation in a client-friendly manner.
At least 8 years of senior management experience in compliance, ideally from banking or fintech companies.Compliance expertise/knowledge of BSP regulations.Experience in communications with the BSP.Definition of a compliance plan.Experience in policy development with clear and concise writing.Relevant expertise in compliance/legal background allowing the candidate to be approved by the BSP.Definition of risk management processes, including market and liquidity risk, and IT risk management.Leadership of Internal Audit Functions: Definition of audit timetable.Oversight of audit functions.Management of internal and external reviews.Review current policies to identify gaps in the overall framework and complete policy in:
Information risk management.Review partner risk assessments to determine:
Are there partners whose risk reviews need to be updated to reflect newly identified issues?Are there partners whose internal processes need to be reviewed?Ensure compliance with AML regime and that there are AML policies in place for partners. Continue to implement the compliance regime and compliance reporting. Set up reporting to Board Committees on:
Compliance review.Policy status.Partner Risk Assessment.
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