Regulatory Compliance Specialist (Senior Associate)
At Bank of Singapore, we are constantly on the lookout for exceptional individuals to join our team. We promote a culture of openness, teamwork and fairness. Most importantly, we invest in our people through our programmes that develop them on both professional and personal levels. Besides attractive remuneration packages, we offer non-financial benefits and opportunities to develop your potential within OCBC Group’s global network of subsidiaries and offices. If you have passion, drive and the will to succeed, rise to the challenge today! Primary Responsibility
The Regulatory Compliance team is part of Central Compliance that supports BOS group in managing regulatory, compliance and conduct risks, through effective stakeholder engagement, and robust regulatory change management. The team works closely with the business, risk and infrastructure units to advise them in analysing and resolving compliance issues, provides head office support to Compliance teams in overseas offices/branches/subsidiaries, handles regulatory inquiries and affairs, is a subject matter expert on regulatory requirements relating to private banking / wealth management business, and helps drive effective implementation of head office policies and procedures arising from regulatory changes. MAIN DUTIES
- Take a consultative approach in providing timely and quality advice to business, risk and infrastructure units on compliance, regulatory and policy matters.
- As a subject matter expert, interpret and analyse new or revised regulatory requirements, and provide advice and guidance to responsible parties.
- Work closely with business, risk and infrastructure units to investigate incidents and assess whether they are regulatory breaches and/or involve staff misconduct, and handle reporting of regulatory breaches and/or misconduct to MAS.
- Management of key obligations register and tracking of regulatory changes.
- Management of response to regulatory surveys/reports on a timely basis, and where necessary, to prepare such survey/reports.
- Preparation of management reports, and data/trend analysis.
- Formulate and timely update internal policies and procedures.
- Timely escalation of adverse or significant compliance/regulatory issues to Compliance management.
- Minimum 5 years of relevant experience, preferably in private banking compliance; or with MAS or audit firms
- Good understanding of the regulatory framework for private banking/wealth management business, including but not limited to Banking Act, Securities and Futures Act, Financial Advisers Act and Private Banking Code of Conduct.
- Excellent interpersonal skills and the ability to work collaboratively in a team-oriented environment.
- Exceptional written and oral communication skills, with ability to communicate complex ideas effectively.
- Strong analytical and problem-solving skills; able to quickly identify the issues, exercise sound judgement and manage execution under pressure.
- Attentive to details and capable of multi-tasking in a fast-paced environment; able to meet tight timelines and work independently.
- Degree holder from a reputable university, preferably with outstanding academic record.
- Relevant professional/industry qualification such as ICA Certificate/Diploma in Compliance would be an advantage