Singapore Jobs Avp/vp, Group Regulatory Compliance Advisor (global Oversight Team) Position at Group Legal and Compliance Division

OCBC Bank is the longest established Singapore bank, formed in 1932 from the merger of three local banks, the oldest of which was founded in 1912. It is now the second largest financial services group in Southeast Asia by assets and one of the world’s most highly-rated banks, with an Aa1 rating from Moody’s. Recognised for its financial strength and stability, OCBC Bank is consistently ranked among the World’s Top 50 Safest Banks by Global Finance and has been named Best Managed Bank in Singapore by The Asian Banker.

Division Description

Group Legal & Compliance (GLC) Division supports the Bank in all legal, regulatory and compliance matters. The division ensures that the Bank’s businesses comply with policies, procedures and relevant laws, rules and regulations issued by Monetary Authority of Singapore and other local regulators.

Apart from being a legal advisor on litigation, trademark filings and other legality issues where relevant, GLC plays an important role as undertakers of the bank-wide regulatory compliance and anti-money laundering initiatives. This includes developing policies and procedures to manage and mitigate risks relating to money laundering and financing of terrorism, as well as monitoring, detection and combating of money laundering and financial crime activities.

Key Responsibilities:

• Provide oversight of the regulatory compliance developments in all overseas jurisdictions where the Bank has presence and manage regulatory risks relating to the overseas entities.
• Advise the overseas entities on MAS regulatory requirements.
• Collate information for management reporting and MAS reporting.
• Work on global cross border initiatives.
• Work with relevant stakeholders to drive the implementation of new regulatory requirements.
• Act as the liaison with regulators for regulatory compliance matters.
• Keep abreast of MAS regulations and updates.
• Review regulatory compliance policies and procedures.
• Identify, assess and document compliance risks associated with business activities.
• Provide periodic regulatory compliance training to all relevant stakeholders.