Compliance & Ethics Expert
Job Assignment:
The incumbent is to report to the APAC Compliance Lead (ex-Japan) and functionally report to the Branch Manager of EB Singapore.
The job holder represents the local compliance presence in the Singapore Office and is fully part of the second line of defense. The job holder is a part of the Euroclear Bank (EB) Compliance & Ethics (C&E) team. It means that the job holder will contribute to the sound compliance culture, proactive approach to all compliance domains and for giving comfort to the local management that the Office follows all relevant policies and regulations. The job holder is also responsible for the implementation of group level compliance standards and to monitor that behaviors in the Office meet the company’s standards of conduct.
The job holder function is granted with the level of independence and sufficient resources as he/she can rely on expertise and assistance from the APAC Compliance Lead in Hong Kong, EB Head Office in Brussels and Euroclear Group C&E Services. The job holder by his/her activities should add value on the Office level but also remain aware of the wider EB Compliance perspective.
The job holder is responsible for assisting the APAC Compliance Lead in:
- maintaining relationships with regulators and national competent authorities, to understand their expectations and to provide required compliance related documentation, report and information to regulatory requirements;
- ensuring the Office is compliant with local laws, regulations, standards and best practices;
- ensuring the implementation and execution of the EB Compliance framework;
- ensuring an effective Legal and Regulatory Watch process is in place to identify new and amended compliance and ethics risks;
- increasing Compliance awareness across the Office and promoting the visibility of the Compliance function; and
- participating in external events and conferences to maintain sector knowledge and detect new trends or techniques which may help to maintain a fit for purpose compliance and ethics risks management framework.
On top of the above general responsibilities, the job holder will:
- interact with the Monetary Authority of Singapore (MAS) and maintain a strong relationship;
- ensure reporting duties (including financial regulatory reporting) of EB Singapore Branch are timely fulfilled and inquiries received from local competent authorities adequately addressed;
- address weaknesses or observations identified through internal or external inspection and audit missions in relation to EB Singapore Branch;
- perform Compliance gap analysis on the basis of the inventory of applicable laws and regulations in Singapore;
- ensure that local regulatory requirements are well captured into relevant annexes to EB core policies and made directly applicable to EB Singapore Branch. In particular when those impose more stringent requirements;
- ensure that all relevant Compliance processes in Singapore Branch are fully documented in procedures and that evidences are duly stored in a central repository;
- define the relevant key controls in the internal databases to ensure those can be tested as part of the Compliance Assurance program for EB Singapore;
- assist the APAC Compliance Lead to perform regular Compliance reporting to the EB Singapore Branch Management and Local Management Team (LMT) to ensure compliance and ethics risks are appropriately considered in determining strategy, business developments and responding to business issues;
- support the first line of defense in Singapore Branch, through the provision of Compliance advices, assistance, trainings and communications on the assessment of compliance and ethics risks, definition of appropriate controls and procedures; and
- act as the Deputy of the APAC Compliance Lead.
Required Skills:
Technical skills
- Solid expertise of at least 7 years in Compliance function, preferably in International Financial Institutions;
- Solid expertise in Singapore Banking law, AML, Sanctions, Personal Data Protection, and regulatory requirements applicable to branches of foreign banks established in Singapore;
- Proven experience in dealing and maintaining sound regulatory relationship with the MAS;
- A good knowledge of the (I)CSD business context is a key asset;
- Excellent communication skills in English (both written and oral).
Soft Skills
- You demonstrate strong ethical values and professional integrity;
- You are able to manage conflicts and complex situations and to exercise the authority and independence of your second line role;
- You have good organization and communication skills, are able to build strong relationships with senior management, regulators, competent authorities and colleagues in the EB Singapore office or overseas offices of EB;
- You are able to work independently with minimal supervision;
- You can manage challenging senior persons that can be internal to the organisation or external (e.g. customers, regulators, competent authorities) and are capable to represent Euroclear in various fora;
- You are proactive, able to work autonomously and able to manage high volumes of information;
- You have previous successful experience in a matrix organisation where you will need to manage several reporting lines and to coordinate the work done by stakeholders based in various locations.
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