Job Description

Overall Purpose of the Position

• To ensure that regulatory developments having a direct impact on the Bank’s licensable activities – Banking, Investment Services and Tied Insurance, are brought to the attention of the relevant Units or Divisions and followed through until implemented.  These may range from changes to current policies/procedures to projects.
• To act as reference point for the team of Senior Officers in relation to all regulatory compliance obligations associated with the Bank’s licensable activities – Banking, Investment Services and Tied Insurance, to ensure compliance with all laws, regulations and rules.
• To support and advise on business initiatives by way of compliance with regulatory requirements.
• To ensure that the Bank’s regulatory compliance obligations are met on an ongoing basis through the implementation, monitoring and review of appropriate policies, procedures and controls.
• To act as liaison between the Bank and Regulators for Thematic Reviews, Inspections and Monitoring Exercises.

  Operational Responsibilities

• To effectively manage working relationship with the Bank’s Departments/Units in supporting the development of existing and new products and services. 
• To (i) Assess regulatory developments providing impacted Units with a summary of the issues under review (ii) Conduct research and liaise with external bodies which may include regulators, EU supervisory bodies and consultants in order to clarify any queries raised by impacted Units (iii) Coordinate responses to consultation documents on behalf of the Bank (iv) Keep track of progress being achieved by Projects set up to implement the required changes linked to a newly developed regulation. 
• To escalate to the Head of Regulatory Compliance any issues which can potentially delay the implementation of newly developed regulations. 
• To maintain a tracker of all regulatory developments and report on a quarterly basis to the Management - Compliance Committee and Board - Risk Committee. 
• To continue to develop a sound working knowledge of the local regulatory framework and the applicable EU Directives and Regulations. 
• To manage the upkeep of Regulatory Compliance Registers, Policies and Manual. 
• To represent the Bank on internal and external meetings / seminars and training programs linked to regulatory compliance and development matters.  
• Provide Compliance Training to the team and other Bank staff. 
• Assist in the preparation of the Compliance Monitoring Programme and executing it, including drafting of Thematic Review Reports highlighting findings and putting forward recommendations. These are then to be followed through until implemented by the relevant Units. 
• Assist in the preparation, coordination and information gathering required during on-site inspections and off-site from the Regulatory Authorities. 
• To assist the DPO in relation to Data Protection matters.

 
General Responsibilities

• To ensure that the Bank’s Performance Development Review process is adequately implemented within the Regulatory Compliance Team. 
• Demonstrate an ongoing interest in Continuous Professional Development.
• To champion the ongoing development of a Compliance culture within the Bank by promoting adherence to policies, guidelines and procedures at all times.
• To perform any other duties that may be reasonably assigned from time to time.

Qualifications, Skills & Competencies

 Mandatory

 Skill

• Excellent verbal and written communication skills.
• Accountable, Organised, Meticulous and able to handle tight deadlines.
• Excellent analytical, troubleshooting and interpersonal skills.
• Strong negotiating and relationship building skills.
• Be computer literate with MS products and familiar with conducting research on the Internet.
• Ability to discern issues and focus on material risk areas and/or compliance weaknesses.

Experience

• A minimum of two years on-the job regulatory compliance experience within the financial industry.
• A demonstrated knowledge of the current local and EU regulatory framework

Qualification 

• A professional qualification in a relevant area such as law, banking, finance, accounting, risk, compliance or related field.

Desirable

Skill

• Speaks clearly, concisely and with confidence.
• Demonstrates an ability to communicate complex ideas clearly.
• Fluent in English and other foreign languages as may be required.

Experience

• Previous interaction with Regulatory Authorities on regulatory compliance matters.

 Qualification

• Industry acknowledged qualifications such as the ICA Certificate in Compliance.
• Membership of or certification by a recognised body accredited in compliance would be viewed favourably.

Position level (1 being the highest level)

1. Head of Department
2. Managerial & Specialist Positions
3. Middle Management & Specialist Positions
4. Technical & Clerical Positions