Job Summary
Implement compliance framework comprising of policies, procedures, work products based on regulations of the Monetary Authority of Singapore and the Securities and Futures Act, (SFA) and monitor compliance through Compliance Monitoring Program.
MAIN RESPONSIBILITIES
- Review and update the Compliance policies and procedures manual, the Compliance monitoring program more particularly w.r.t. the MAS and SFA regulations applicable to the firm's core business of agency brokerage including settlement and custody and ensure the manuals continue to remain aligned to the amendments to the rules and regulations done by the authorities from time to time.
- Perform regular compliance reviews and assessments as per the firm's Compliance Monitoring Program (the CMP) and ensure over an annual period all reviews as per CMP are completed. Ensure regular reports (at least quarterly) are made to the Head of Compliance on the reviews and highlight breaches observed if any with recommendations.
- Develop an annual calendar of compliance as per applicable rules and regulations and identify the Companies staff responsible for submission of the requirements to the regulators/ exchanges. Ensure timely submission of the required returns with appropriate compliance reviews.
- Participate in introducing new products and services and assist management to obtain relevant licenses to offer the new products or services.
- Assist in regulatory reviews and liaise with regulators, auditors, clients concerning compliance matters.
- Advise management on compliance requirements which are business specific for introducing new markets/products, countries (APAC or otherwise) in areas of transactions, specific regulatory filings, etc.
- Review Due Diligence performed on counterparties (banks, custodians, executing brokers, FI counterparties) and recommend the counterparty onboarding from a risk and compliance perspective.
- Review client onboarding and provide approval/recommendation on onboarding including the Customer Risk Assessment Form.
- Review implementation of internal audit findings and recommendations related to compliance and compliance risk management.
- Review trade surveillance, transaction monitoring, asset movement and similar reports provided by other teams and notify compliance concerns to Head of Compliance.
- Maintain a Register of Breaches.
- Review the firm's risk management framework and ensure compliance risks are mitigated. Discuss the key risks with Head of Compliance and advise controls to mitigate the same.
- Assist and advise on automating procedures relative to client onboarding, counterparty onboarding, client assets reconciliations and similar to enhance the compliance environment.
QUALIFICATIONS, EXPERIENCE, & SKILLS:
- Bachelors/Masters degree in Finance, MBA, Accounting, CPA, CFA, or similar.
- ACAMS or similar qualification on AML
- Min 3 years experience of working in Compliance and MLRO function with a financial services firm broker dealer, investment bank, investment business firm.
- Understanding of the Legislative compliance requirements mandated by the regulator (MAS) and the SFA) and general compliance requirements for Capital Market Service License holders licensed by MAS an providing online brokerages into financial instruments globally.
- Exposure to working in other international markets and a general understanding of stock market regulations and global market best practices.
- Financial Services domain knowledge (stock broking and of different kinds of financial instruments particularly equity, derivatives, mutual funds, asset management and advisory)
- Excellent reporting and communication skills
- Good inter-personal skills to effectively maintain working relationships with all stakeholders.
