About the Role:

The position is based in Port Moresby and will report to the Head of Regulatory & Policy Compliance. The successful incumbent will be responsible for monitoring the implementation of Regulatory and Policy obligations, including the identification and reporting of breaches of compliance obligations. This role is also responsible for the reporting of all compliance matters and testing of internal controls relating to regulatory risks.

Key Deliverables:

Monitoring

• Manage Compliance Monitoring Officers to monitor compliance with key compliance policies.
• Manage Compliance Monitoring Officers to monitor and test the effectiveness of controls in the Regulatory Obligations Registers for all SBUs, Pacific Markets and Subsidiaries.
• Responsible for maintenance and oversight of Compliance Registers (Breaches, Conflict of Interests and Gifts and Entertainment declarations) for BSP PNG, Pacific Markets, and Subsidiaries.
• Key responsibility for monitoring compliance with key material policies.
• Manage compliance control testing of Obligations Registers.
• Responsible for the development and maintenance of the compliance monitoring methodology.
• Maintain oversight and monitoring of the resolution action items from the Compliance plans for all SBUs, Pacific Markets and Subsidiaries.
• Document compliance gaps and work with the Compliance Integration BU on remedial or corrective action plans to address the gaps.

Policies and Procedures

• Responsible for maintenance of all procedure documentation for the Regulatory and Policy Compliance business unit
• Provide advice and guidance to the business on necessary actions to achieve regulatory compliance, addressing any issues arising from monitoring reports.

Reporting

• Prepare reports on compliance monitoring issues, with timely reporting to Management and Board committees.
• Responsible for ensuring that breaches of Policy and Regulatory obligations are recorded and reported.
• Manage liaison with SBU, Pacific Markets and Subsidiary Compliance and Quality Assurance officers to ensure monthly compliance reports are received by Regulatory and Policy Compliance BU for monitoring and reporting.
• Oversight of reports of the conflict of interests and gifts and entertainment declarations including assessment of potential and actual conflicts and appropriateness of gifts and entertainment per policy requirements. Report on the results of compliance tests

Advisory

• Maintaining an understanding of relevant regulatory requirements, including Anti- Bribery and Corruption related regulations, to provide advice and guidance to Executive management enabling them to implement compliant policies and procedures.
• Maintain an awareness of regulatory changes as well as changing best practices in compliance controls.
• Work closely with other business units to ensure they address identified areas of non-compliance and facilitating employee training or awareness sessions on compliance issues.

Risk Assessment

• Establishing, implementing and overseeing the compliance risk assessment process ensuring that compliance risks are appropriately identified and amended.
• Assist Head of Regulatory & Policy Compliance to develop and update an Enterprise Wide Risk Assessment on Bribery and Corruption Risk.
• Supervise the Compliance Monitoring team to regularly assess the relevance and focus of the Compliance Monitoring Plan
• Design and implement testing procedures to assess BSP’s compliance with the obligations identified in the Obligations Register.
• Conduct compliance testing, including planning meetings, sourcing evidence, and documenting results.
• Conduct regular compliance testing to ensure continuous compliance from SBU, Pacific Island Markets and Subsidiary.

External Relations

• Support the Head of Regulatory & Policy Compliance and GGMC in the development and maintenance of effective and efficient interaction with regulators, ensuring the bank’s views are appropriately represented and facilitating the supervisory activity of regulators.

What You Bring:

Essential Qualifications, Professional/Skills and Experience:

• Tertiary qualification in Business, Risk Management, Law, Accounting or Finance
• 5 years’ experience in the finance industry, at least 3 of which have been spent in an Audit, compliance or risk management role.
• Knowledge and experience of best practice compliance and governance frameworks, methodologies and emerging practice, compliance monitoring and risk assessments in the context of the financial services industry.
• Experience of communicating with regulators and assisting with regulatory enquiries and inspections.
• Proficient in oral and written English.
• People Management skills.
• Detailed understanding of regulatory compliance.
• Advanced Risk Management and control testing skills.
• Policies & Procedures drafting skills.
• Professional certification with an organization, such as the Association of Certified Anti-Money Laundering Specialists (ACAMS) or equivalent.
• Governance Institute of Australia (GIA) certificate or diploma qualification in Audit, Quality Assurance and/or Risk Management or equivalent.

Applications are to be addressed to the Senior Manager Talent Acquisition and submitted via this form.