Chief Compliance Officer

Industry Category	Accounting / Finance	Position	Banking / Finance
Recruitment Department		Number Of Recruits	several
Work Location	All Cities	Nature Of Work	Full Time
Gender Requirements	Male	Marriage Requirement	No marital status restrictions
Education Level	College Diploma	Work Experience	No work experience restrictions
Age Requirement	Above 18 years old	Salary Package	Negotiable
Updated Date	2022-10-27	Valid Until	Long-term validity

Job Summary

The Chief Compliance Officer is the head of Legal and Compliance and the successful incumbent shall be the overall in-charge of Regulatory and Group Compliance, Anti-Money Laundering and Combating the Financing of Terrorism, Data Privacy, Monitoring and Testing, Legal and Fraud functions under the Legal and Compliance Department.

The Chief Compliance Officer leads the development of compliance strategies across PETNET, Inc.

The Chief Compliance Officer maintains functional line and independent reporting line to the Board, contributes to short and long-term business planning, influences the business strategy of PETNET, Inc., and closely monitors compliance developments and standards in the Financial Industry.

Key Functions 

Responsibilities

Strategic Operations & Management

Responsible for ensuring that PETNET, Inc.'s organizational structure is in line with local regulatory requirements, and that its internal framework, policies and procedures reflect the changes in local laws and Group policies;Ensure compliance culture is maintained and compliance risks are mitigated and monitored to protect PETNET, Inc's reputation and license;Responsible for developing and recommending a suite of policies appropriate for underpin the ongoing governance / monitoring / challenge of the business performance in accordance with regulations;Determine the overall priorities for Compliance, workforce planning and financial budgets necessary to deliver business objectives for compliance activities;Serving as MLRO, manage and implement a risk-based approach AML/CFT and Sanctions Program. Formulating policies, procedures and controls that are aligned with local and best practices standards, implementing and monitoring compliance thereof to ensure that the business adheres to the requirements, including due diligence, sanctions screening, alert management, regulatory reporting, freeze order, among others;Support fraud management in the investigation, identifying any emerging fraud threats and gaps, and working with business to support remediation activities. Handle non-AML/CFT fraud, carry out investigations on possible breaches of policies, and to report any irregularities, or any breaches of laws, rules and standards discovered;

Stakeholder’s Management

Responsible for maintaining relationships with the BSP, other regulators and the Group. Act as key person in obtaining required licenses for the business, including registration of business partners;Responsible for handling regulatory inspection, including pro-actively guiding and directing the Board of Directors and Management in preparation for the audit, ensuring all matters are satisfactorily and timely attended;Provide relevant and timely advice on a variety of legal topics that relate to the business, their products or services through review of policies, contracts and agreements;Ensures that material governance issues and breaches are identified, timely reported, risk owners are engaged as well as action plans are undertaken to mitigate compliance risks;evaluate the current status of compliance activities through the relevant committee meetings with revenue groups, Senior Leadership and Board of Directors;

Risk-based Compliance framework

Design and implement a risk-based compliance framework. Manage the compliance function to ensure all business requirements are satisfactorily met, ensuring the design, implementation and maintenance of high-quality compliance programs, that takes into account both local regulatory requirements and group compliance framework and policies;Through compliance risk assessment and compliance testing, identifies compliance risks, recommend appropriate actions and monitor implementation of these actions by the business and support units;

Corporate Communications & Training

Act as the primary source of new regulations, both local and group compliance, providing guidance, requirements and directing the business and operations in taking necessary actions to meet the standards;Promote compliance with Data Privacy Act of 2012 and its implementing guidelines. Responsible for responding to internal and external privacy and data protection inquiries; initiate privacy impact assessment; contribute to driving awareness and training for all employees; develop and review policies, procedures and advise business on implementation on data protection;

Project Management & Business Process Improvement

Guide all Compliance Unit Heads in their project and process improvement ideas and recommendations such as automation of processes to improve internal efficiency;Work in partnership with relevant department leaders to share best practice, provide support and develop effective compliance policies and methodology appropriate to the company.Present, consult and seek approval from the Senior Leadership and Board for Legal & Compliance Department’s projects;

People Development

Builds the capabilities of the Legal & Compliance Department by proactively managing the performance and competency development of each team member;Implements Performance Management of team members from performance, planning, monitoring, evaluation, and improvement to ensure career progression;Ensures that each team member has an Individual Development Plan to facilitate competency growth; Clarifies the roles, responsibilities and KPIs of each team member are understood to ensure achievement of targets; reviews and initiates modification as business requires;Trains and mentors team members in the execution of their duties, ensuring constant improvement in their professional skills, and preparing them for succession planning;Motivates, inspires and disciplines, when needed, team members to maximize their potentials and capabilities; andCreate an atmosphere of respect, trust and accountability among team members to facilitate analytical,  problem-solving and innovative thinking.

Qualifications

Bachelor's degree in Paralegal, Business Administration or equivalent;Candidate must have at least five (5) years of experience in a financial institution in the compliance area and corporate governance with proficient knowledge of laws and regulations in the jurisdiction;Candidate must have at least three (3) years of experience in a leadership or managerial compliance role;Well-developed written and oral communication skills, e.g. to write and speak with clarity. (Ability to interact effectively with Management and staff across the Company);Dedication to mentor and train compliance team members;Handle confidential information and material with the highest degree of professional responsibility;Graduate of Law or certifications related to Compliance in the Financial Industry or AML is a plus;Solid background with prevention of money laundering and financing terrorism (AML/CFT);Forward-looking and focused on continuous improvement;Comfortable preparing presentations and reports to the Management and Directors of the Company;Integrity and understanding of duties of loyalty and care; andFull-time position available

WHO ARE WE?PETNET, known by its brand name, PERA HUB,  is one of the country’s leading urgent cash transaction center with over 2,000 locations nationwide. PERA HUB  provides a wide array of financial products and services ranging from Western Union money remittance services, Loans Services, Insurance, Payment Facilities, Foreign Exchange, and many more.PETNET is majority-owned by City Savings Bank, Inc. and Union Properties, Inc., both wholly-owned subsidiaries of Union Bank of the Philippines (UnionBank), the financial services strategic business unit of publicly-listed company Aboitiz Equity Ventures, Inc.We are also the first Western Union Business Solutions Agent in the world. Western Union Business Solutions is one of the world’s leading providers of cross-border business payments offering Accurate, Convenient, and Easy (ACE) ways to process international payments.