Due to the expansion of the business both in the USA and abroad, VISA is creating a new position for a Compliance Director, covering emerging Southeast Asia countries and based in Singapore.
As a Compliance Director you will be responsible for regulatory Compliance matters in select markets. Functional reporting will be to the Compliance Leader for Asia Pacific based in Singapore.
Requirements
The principal focus of this role is to ensure that the business has effective decision-making, review processes and risk management to meet the requirements of U.S. and local regulations and laws pertaining primarily to:
Anti-Bribery (AB) and Anti-corruption
Office of Foreign Assets Controls (OFAC) Sanctions
Anti-Money Laundering (AML) / Anti-Terrorist Financing (ATF)
Data Privacy
Information Security; and
Any other specific compliance requirements of regulators who have regulatory authority over our operations
In addition the role also carries responsibility for ensuring a high standard of business ethics as set out in the company Code of Business Conduct and Ethics. Particular areas of focus are potential conflicts of interest and prevention of insider trading.
Responsibilities
Responsible for Compliance matters as the “one stop shop” for business units and local regulators. Grow business partnerships and provide leadership on regulatory compliance matters by providing accurate and timely advice and counsel
Principal focus is to ensure the business has effective decision-making, processes and risk management to meet international and local regulatory laws and requirements
Accountable for managing the process and providing required reporting to market regulatory authority(ies)
Due Diligence (DD) responsibility for Anti-Bribery/Anti-Corruption, Sanctions, Anti-Money Laundering/Anti-Terrorist Financing, Conflict Of Interest, Data Privacy, Information Security and selected Third Party Due Diligence
AML DD will consist of, but not limited to, Ongoing DD for high risk clients, Additional DD, Enhanced DD, and Onsite Client Reviews
AB DD will consist of, but not limited to, pre-approvals for events, gifts travel and entertainment as well as proper designation of State-Owned Entities (SOEs)
Review significant business activities and transactions, assess risk and develop & execute on mitigation actions including but not limited to Country, Program and Product risk assessments
Responsible to assist the business in building out their First Line of Defense (FLOD) to ensure compliance with local regulatory requirements, risks are being adequately managed and that the business is in compliance with company policy. Build out second line of defense (SLOD) with control group stakeholders
Responsible for comprehensive reporting including but not limited to local dashboard and metric reporting, business education on policy requirements, including delivery of localized training tailored to the specific market and job functions
Continually identify opportunities for efficiencies while ensuring sufficient controls are in place; partner with the business to drive improvements
Maintain ongoing dialogue with business units to identify potential or emerging risks and proactively address them so as not to create unnecessary delay
Some travel throughout the region will be necessary.
Qualifications
Professional
A minimum of 10 years of experience in regulatory compliance and related risk management disciplines gained in international commercial enterprises, including experience in financial services. At least 2 years acting in a leadership role in a geography or region
A degree qualification from a recognized University.
Technical
Highly experienced in reporting to banking regulatory authorities in Asia
Strong subject matter expertise in at two or more of the following: Anti-Bribery and Anti-corruption; OFAC sanctions; Code of Business Conduct and Ethics, Data Privacy; Anti
Money Laundering; Compliance risk assessment, monitoring, testing, and reporting processes.
Language Fluency
English; Chinese and/or Hindi proficiency preferred, local language (Bahasa Indonesia, Vietnamese, or Tagalog nice to have)
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