Vice President, Compliance Vice President, Compliance …

Mizuho Bank
in Singapore
Permanent, Full time
Last application, 19 Jan 22
Competitive
Mizuho Bank
in Singapore
Permanent, Full time
Last application, 19 Jan 22
Competitive
Asia & Oceania Administration Department - Compliance
Overview of Division/Department

Our Compliance (CPL), a member of our Asia & Oceania Administration Department, is in charge of formulating and maintaining the compliance framework to ensure our compliance with internal and external regulations

Company Profile
Mizuho Bank, Ltd. is a subsidiary of the Japan-based Mizuho Financial Group, Inc. (listed on the Tokyo Stock Exchange and NYSE) and is one of the largest financial services companies in the world. Mizuho Bank, Ltd. provides financial and strategic solutions for the increasingly diverse and sophisticated needs of its clients with offices located in all the major cities of the world such as Tokyo, New York, London, Hong Kong and Singapore.

Job Responsibilities
Background
The role sits in the Business Compliance ( BC) team within the Compliance section. The BC team is co-led by two Team Leads. This is one of the co-Team Lead roles, which focuses on Treasury. This role also jointly oversees Compliance Reviews and Testing.

Key responsibilities
  • Oversees the day-to-day management of the BC team, by providing first level leadership to the team.
  • Support the Section Head in identifying and reporting all risk and compliance issues and breaches. Ensure timely escalation of concerns to Management and Head Office (as appropriate).
  • Exercise ownership and accountability in respect of such compliance policies and governance frameworks as may be designated to the team as policy owner. This includes ensuring the adequacy and robustness of such policies and frameworks, taking into account inter alia any developments in applicable regulatory requirements, industry practices and the business and operations of the Bank.
  • Assist the Section Head in the enhancement of our overall compliance framework and structure.
  • Co-lead the team in the planning and conduct of Compliance Reviews and Testing (as part of the Compliance Action Program or otherwise) in a timely manner. Identify areas of weakness where compliance should be prioritized, and advise, provide recommendations and guidance to stakeholders so as to improve/ rectify any weakness identified.
  • Scope of responsibility/ coverage of the team (focusing on Treasury) includes the following:

    Compliance Partner
    • Compliance Partner to Treasury and related units (collectively, Designated Units) in providing guidance on compliance matters and conduct risk assessments on new products/ services/ businesses, and liaise with the business in the performance of annual Compliance Risk Assessment.

      Regulatory
    • Disseminate, review and advise on Consultation Papers and new/ revised regulations relating to Treasury, including collating feedback from relevant stakeholders
    • Assist in the implementation of new/ revised regulations relating to Treasury, including reviewing and performing gap analysis, and collaborate with relevant stakeholders in the implementation of new/ revised policies and/or procedures as may be necessary to ensure compliance.
    • Keep abreast of regulatory changes and industry practices, and (where applicable) provide updates to the business and support them in the assimilation of new/ changes in regulations and/or industry practices (e.g. Global FX Code of Conduct, Securities & Futures Act (including financial benchmark regulations)).
    • Promote awareness of rules, regulations and industry guidelines by, amongst others, developing and conducting compliance training.

      Surveillance & Testing
    • Responsible for the development, implementation and execution of Compliance monitoring & surveillance program on trading and communications. This includes identification and investigation of irregular activities and escalation to Management.
    • Conducting Volcker Rule Independent Testing.

      RSOC
    • Running the Rate Submission Oversight Committee.

      Control Framework
    • Assist the business in enhancing their Compliance control framework by identifying areas of weakness, advising and providing recommendations and guidance to Treasury and related units so as to improve/ rectify any weakness identified.
    • Be able to identify and report all risk and compliance issues, breaches and suspicious activities which concern Treasury. Ensure timely escalation of concerns to Management and Head Office (as appropriate).
  • Additionally, all members in the Section are expected to:
    • Ensure prompt escalation of issues and concerns to the Section Head in an appropriate manner.
    • Undertake, participate and/or collaborate with respective teams in the Section in ad-hoc compliance related projects or initiatives.
    • Keep undated on Head Office and Internal Operation Procedures, Head Office Official Circulars, and regulatory laws and regulations, and (where applicable) advise relevant stakeholders.
    • Assist in the development, implementation, review and revision of Compliance Manual, Compliance Risk Management Manual and Internal Operation Procedures.
    • (Where applicable) Participate in Compliance Committee Meeting, Compliance Forum or any other committees, taskforces, working groups, forums or dialogue sessions as part and parcel of the Bank's overall compliance and monitoring framework.
    • Participate in ad-hoc Bank initiatives or focus groups, as representative of the Compliance Section as may be appropriate.
    • Perform administrative work as may be necessary.


    Job Requirements
    • Bachelor Degree
    • At least 8 years relevant compliance experience
    • Strong knowledge of banking laws and regulations (including Securities and Futures Act and Financial Advisers Act), Treasury products and services, and Treasury related industry practices (e.g. FX Global Code, SIBOR Code of Conduct).
    • Prior experience in Treasury Compliance.
    • Good communication skills and ability to engage at multiple levels.
    • A change mindset and tenacity.
    • Hands-on and able to multi task.
    • Strong analytical and problem solving skills, and able to think outside the box.
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