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Head of Compliance (Digital Bank)

Date: 16-Feb-2021

Location: Singapore, Singapore

Company: Singtel Group

“We are living in exciting times. Technology is reshaping how we live and we want to use it redefine how financial services are offered, which is why Singtel and Grab are coming together. Singtel is Asia’s leading communications group connecting millions of consumers and enterprises to essential digital services while Grab is the leading technology company in Southeast Asia offering everyday services to consumers. Together, we have big dreams to unlock and financial inclusion for people in our region is just one.  We want to build a digital bank with the right foundation - using data, technology and trust to solve problems and serve customers.”

 

As Head of Compliance, you will lead and direct the development of compliance strategies for Digital Bank. You will develop compliance policies and lead the assessment, monitoring and reporting of compliance risks, investigating incidents and taking appropriate action to ensure company Management and the Board are provided with a suitable and proactive second line of defense for compliance.

 

The day-to-day activities:

  • Compliance Strategy development: Set the strategy and objectives aligned to the regulators’ direction
  • Compliance Leadership: Design and implement, within the wider risk framework, structures, policies and processes that integrate the principles of effective compliance into daily operations, encourage behavioral change and drive good governance across the company
  • Compliance Planning: Determine the overall priorities for Compliance
  • Operate the Financial Crime (e.g. OFAC) and Core Compliance programmes, training and reporting
  • Enhancing compliance awareness through regular communication and by ensuring required staff training is provided
  • Policy development: Responsible for developing and recommending a suite of policies appropriate for underpin the ongoing governance / monitoring / challenge of the companies business performance in accordance with regulations
  • Systemic Integrity Risk Analysis: Responsible for maintenance, roll-out and periodic review
  • Reporting: Evaluate the current status of compliance activities through the completion of periodic heat map meetings with compliance specialists, as well as attendance at relevant meetings and take appropriate action to address any shortfalls
  • Responsible for regulatory reporting and managing regulatory relationships
  • Identifying regulatory changes and proposing required actions and assisting management in making appropriate management decisions in the light of key compliance issues, risks and priorities
  • Lead communication with Board, Senior Management and relevant committees to provide compliance status and recommendations for improvement
  • Develop the Annual Plan for undertaking periodic surveillance reviews of compliance arrangements, reporting any findings to senior management, and tracking the resolution of the issues identified; be proactive in identifying compliance risk areas
  • Build good relationship with regulators and be the lead liaison for the bank with regulators
  • Keep abreast of the latest regulatory developments around the region and the world that would impact digibanks and fintech

 

The must haves:

  • University Degree Level / Compliance qualifications – Master’s degree preferred/ legal or accountancy qualified preferably complemented with a post graduate (executive master) degree in Compliance/Risk Management
  • Minimum of 18 years working experience in compliance management in a complex international environment, with a Singapore focus in banking, fintech, or payments industry
  • Proven track record of being involved in system development relating to compliance, e.g. automating regulatory submissions or Anti Money Laundering processes and putting together a compliance process from scratch
  • Extensive relevant local consumer banking experience with a deep conceptual understanding of Regulatory Compliance, Anti Money Laundering, establishing control frameworks and leading on good governance
  • Proven experience in maintaining good relationships with regulators
  • Significant experience of leading at a senior level, interpreting and delivering against strategic objectives
  • Ability to construct and deliver clear presentations to senior company executives
  • Well-developed communication skills to interact with broad ranges of audiences
  • Ability to look beyond individual issues to identify broader themes with wider-reaching impact
  • Experience in analysing and quantifying complex strategic issues tied to long term business growth
  • Excellent presentation and communication skills
  • A natural leader who displays integrity, humility and responsibility, with excellent interpersonal skills
  • Ability to empathise and collaborate with stakeholders across functions and at all levels of experience
  • A self-starter and independent learner who takes the initiative to challenge the status quo
  • A big-picture thinker who is detail-oriented
  • Structured thought process and a strong analytical ability, and some experience with operational execution
  • Strong interpersonal skills with an ability to effectively network within the industry and the overall business
  • Ambitious, self-driven and highly motivated individual who can work well in a startup VUCA (Volatile, Uncertain, Complex, Ambiguous) environment. Should have a deep desire to excel and develop a career in a fast growing tech company. Should have demonstrated integrity and respect in the performance of their duties