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Our client is looking for someone with extensive compliance and risk management experience and great leadership skills to lead the Compliance & Risk Management Department in their Foreign Exchange company.

Designation: Chief Compliance & Risk Officer
Department: Compliance & Risk Management
Reports to: Chief Executive Officer and Compliance & Risk Management Committee

Job Description:

1. Ensure the Company’s compliance with the AML/CFT requirements.
2. Implement the Company’s AML/CFT policies and procedures.
3. Ensure appropriate AML/CFT procedures, including customer acceptance policy, customer due diligence, record-keeping, on-going monitoring, reporting of suspicious transactions and combating the financing of terrorism are implemented effectively.
4. Ensure that the AML/CFT mechanism is regularly assessed to ensure that it is effective and sufficient to address any change in money laundering and financing of terrorism trends.
5. Ensure that the channel of communication from the respective employees to the branch compliance officers and subsequently to the compliance officer is secured and that information is kept confidential.
6. Ensure that all employees are aware of the company’s AML/CFT measures, including policies, control mechanism and the channel of reporting.
7. Ensure that Suspicious Transaction Reports (STR) received from Branch Compliance Officers and Ongoing Due Diligence (ODD) received from Back Office Compliance Officers are appropriately evaluated before submission to the Financial Intelligence Unit in Bank Negara Malaysia within deadline.
8. Ensure the Company’s compliance with all the following external requirements:
   1. Money Services Business Act 2011
   2. BNM Guidelines
   3. Company’s Act
   4. Money Service Business Association Guidelines
   5. Other relevant regulations, rules and legislations of other relevant authorities
9. Ensure that the company has a full set of policies and procedures that should be in place in line with the company’s set-up, nature of business and operations and that a full formal review of all the policy and procedural manuals are being conducted by the relevant departments in respect of those policies and procedures under their “ownership” and responsibility at least once in three (3) years.
10. Ensure that all internal policies and procedures of the company are being fully complied by staff at all levels in the course of them performing their duties and responsibilities.
11. Administrate to ensure completion of the Annual AML/CFT Declaration Exercise by all staff that they have read, understood and are complying with all requirements (internal and external) that are relevant to their job and responsibility.
12. Submit quarterly Compliance and Risk Management Report to the Board Members (BOARD) Meeting and Compliance and Risk Management Committee (CRMC) to ensure that the reporting is validated, accurate and submitted in a timely manner.
13. Consistent follow-up on all audit comments and findings to ensure appropriate remedial actions are being taken by relevant department / branch up to the point that the non-compliance or matter of concern relating to the audit comments / findings are fully resolved. 
14. Plans, designs and implements an overall compliance and risk management framework and work processes for the company.
15. Develops and implements risk related guidelines in the company, and establish processes for the identification and reporting of all risks.
16. Monitors the company’s risk profiling, which involves identifying risks as well as analysing, describing and estimating the risks affecting the business and operations of the company, and the mitigations that are being taken.
17. Periodically, undertake a risk profiling exercise with the CRMC to ascertain the company’s risk profile.
18. Review and ensure the effectiveness of the Risk Management methods used with the objective of early identification of risks and their impact to the company, leading to appropriate course of action including reducing operational losses within the company.
19. Ensure risk reporting is done in an appropriate way for different audiences, for example, to the CRMC so that they understand the most significant risks, to business heads to ensure they are aware of risks relevant to their parts of the business and to individuals to understand their accountability for individual risks.
20. Ensure timely submission of data / information from all departments within MaxMoney to facilitate management of risk, follow-up actions and reporting.
21. Ensure smooth coordination, readiness and functionality of the back-up infrastructure as part of the BCP process and DRP process across all critical departments’ operations. Responsible to ensure that the relevant plans are in place and tested periodically.
22. Assemble relevant information regarding the risks of a new strategic direction that the board or management intends to take and provide the information to the leadership in a way that aids them in making their decision.
23. Ensure effective compliance and ethics programs in the form of a well-coordinated and comprehensive set of policies, procedures, roles and responsibilities are structured and implemented to prevent and detect misconduct and promote an organisational culture that encourages ethical conduct and commitment to compliance with the relevant laws and regulations.
24. Ensure the employees within the company have a sound risk management culture by providing support and training to staff to build risk awareness within the company.
25. To update Key Business Objectives of the department whenever necessary.
26. Recommend enhancements and process improvements and be a key driver to implement.
27. Participate in all duties or tasks assigned from time to time by your reporting manager within and outside your normal scope of work without unreasonably refusing to perform such duties or tasks.

Questions for the candidates:

Due date: 15 September 2019