Senior Manager Compliance Business Customer Solutions Senior Manager Compliance Business Customer  …

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
Senior Manager Compliance Business Customer Solutions
Senior Compliance Manager Business Customer Solutions - Permanent Full Time

See yourself in our team:

Business and Private Banking (BPB) secures and enhances the financial wellbeing of people, businesses and communities, particularly CBA's small and medium-sized enterprise clients, including in rural and regional areas, as well as the needs of CBA's online trading, broking and private banking clients.

The Business Customer Solutions (BCS) team is at the heart of BPB, responsible or the design, maintenance and distribution of all business products to all segments, 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. 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.

Do work that matters:
As Senior Compliance Manager - Business Customer Solutions (BCS), you will report directly to the Head of BCS Compliance and be lead for the Everyday Business Banking division in BCS. This is a management role, with two direct reports, one covering Payment products and the other Marchant Acquiring, while maintaining Compliance Advisor accountabilities for Commercial Deposits.

A key responsibility for this role includes:
You will provide dedicated Line 2 Regulatory Compliance support as a senior member of our team. The role works closely with the Head of Compliance and with our Line 1 business partners and the key deliverables include:
  • Leading the small team of Compliance Managers covering for the Commercial Deposits and Commerce Solutions (Payments and Merchant Acquiring) divisions of BCS;
  • Advising and supporting Line 1 to identify and comply with regulatory obligations (excluding Financial Crime related obligations) and licensing requirements relevant to BCS;
  • 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 Everyday Business Banking 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 Everyday Business Banking;
  • Monitoring and leading investigations of compliance incidents, including identification and reporting of significant breaches to regulators;
  • Contributing to regular reporting to relevant governance forums on key Compliance Management activities and insights into compliance trends;
  • Support the ongoing development of team members through active and authentic people management including setting performance targets, coaching, teaching and managing people issues in line with Group policy;
  • Recruiting and on boarding, capacity planning, setting key performance indicators, creating development plans, supervising work, providing feedback and coaching, recognising and rewarding staff.

We're interested in hearing from people who have:
  • Minimum of 5 years Line 2 Regulatory Compliance advisory experience;
  • Subject matter expertise across the Australian Financial Services (AFS) regulatory framework, applicable to business customers;
  • 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. client monies), Non-cash payment facilities and Foreign Exchange;
  • 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 with 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;
  • Specific scheme compliance, product and business acumen related to Payment and Merchant Acquiring products preferred by not required as the team members reporting into this position are well versed in the Regulation of the Payments System .
If you are an experienced professional with a desire to take on complex work/projects then we would love to hear from you!

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: 28/05/2020