Compliance Executive Business Customer Solutions Compliance Executive Business Customer Solutions …

Commonwealth Bank of Australia
in Sydney, New South Wales, Australia
Permanent, Full time
Be the first to apply
Commonwealth Bank of Australia
in Sydney, New South Wales, Australia
Permanent, Full time
Be the first to apply
Compliance Executive Business Customer Solutions
Compliance Executive - Commercial Deposits BCS

Do work that matters

The Business Customer Solutions (BCS) team is the heart of the Business and Private Bank (BPB) division at CommBank, supporting the full spectrum of customers' needs from the smallest businesses to the largest corporations.

BCS is made up of two core product businesses; Everyday Business Banking and Business Lending, responsible or the design, maintenance and distribution of BCS to all segments including BPB, Retail and Institutional Banking.

Everyday Business Banking supports the needs of our business customers to pay and be paid, and to save and invest. The team is responsible for Commercial Deposit and Commerce Solutions products (incl. Payments/Receivables and Merchant Acquiring). The Payments Strategy & Development, and BCS Line 1 Risk & Controls teams also form part of the Everyday Business Banking BCS team.

The Business Lending team, supports business customers' requirements for borrowings and cash flow. This team includes the Commercial Lending team (including Asset Finance and Credit Risk), BizExpress (digital same day business lending), and the Risk & Controls team.

The BCS Compliance team sits within the broader Group Operational Risk and Compliance second line of defence (Line 2) function within CommBank and provides Regulatory Compliance advisory support to the two BCS product teams in implementing and embedding the Compliance Risk Management Framework (CRMF) ultimately assisting to ensure compliance with regulatory and licensing obligations.

As Compliance Executive - Business Customer Solutions (BCS), you will report to the Senior Manager Compliance supporting the Everyday Business Banking division in BCS and be the Regulatory Compliance Advisor for Commercial Deposit products.

See yourself in our team

BCS Compliance is a newly established Line 2 Regulatory Compliance team, dedicated to the provision of proactive, solution-based support to the BCS business and we're looking for a motivated, regulatory compliance professional to lead the the Everyday Business Banking arm of Compliance team.

You will provide dedicated 2nd Line Regulatory Compliance support as a core member of our team. The role works closely with the Head of Compliance, Senior Compliance Manager and with our Line 1 business partners and the key deliverables include:
  • Advising and supporting Line 1 to identify and comply with regulatory obligations (excluding Financial Crime related obligations) and licensing requirements relevant to Commercial Deposit products;
  • Providing regulatory and policy advice, independent review, challenge, direction and training as part of Line 2 Compliance; interpreting and providing plain English guidance on relevant Compliance areas;
  • Developing and continuously improving policies, procedures, tools and practices for effectively managing regulatory risk;
  • Managing all engagement with regulators (ASIC, APRA, ACCC, BCCC, RBA) in relation to Commercial Deposit products;
  • Providing insights and proactive advice on new and existing regulatory obligations applicable to business processes and initiatives, including consultation on and implementation of regulatory change within Commercial Deposits business within Everyday Business Banking;
  • Monitoring and leading investigations of compliance incidents, including identification and reporting of significant breaches to regulators; and
  • Contributing to regular reporting to relevant governance forums on key Compliance Management activities and insights into compliance trends.

Your skills and experience

We're interested in hearing from people who have a minimum of 2 to 3 years Line 2 Regulatory Compliance advisory experience and subject matter expertise across the Australian Financial Services (AFS) regulatory framework.

Applicants must have a deep understanding of Corporations Act 2001 and applicable AFS licensing regime for financial sales, advice and dealings in relation to financial products (both retail and wholesale clients), namely Deposit products (incl. transactional and savings accounts, client monies, and statutory trust accounts).

  • Excellent commercial acumen, including strong understanding of the key Australian financial services regulations and compliance frameworks and policies;
  • Experience working with regulators and senior business leaders in managing compliance issues;
  • Excellent organisational skills and the ability to manage competing priorities in a high volume work environment;
  • Ability to constructively challenge to ensure that Everyday Business Banking continues to meet regulatory expectations and risk appetite;
  • Excellent leadership and team management skills including coaching, business planning and driving results;
  • A supportive, open and collaborative leadership style;
  • Judgement capability, and the ability to make sound decisions quickly; and
  • Excellent change management and stakeholder management skills.

Your path looks like

We're committed to building a diverse and inclusive workforce reflecting the customers, businesses and communities we serve. As a value's driven organisation, we nurture and support our people through focussing on skill and talent development, collaboration, flexibility and internal promotion.

With service in mind at every touch point, we take accountability for the role we play in securing and enhancing the financial wellbeing of people, businesses and communities.

If you live the values and demonstrate people capabilities, CBA offers great career opportunities. This role provides experience, exposure and education at a management level which can lead to a variety of opportunities across the CBA Group.

You'll join a supportive and growing team, enjoy market competitive remuneration, flexible working arrangements and an opportunity to learn new regulatory skills and expertise across different products and services in the future.

If you're already part of the Commonwealth Bank Group (including Bankwest), you'll need to apply through Sidekick to submit a valid application. We're keen to support you with the next step in your career.

Advertising End Date: 04/06/2020