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 providing assurance to the Manager Compliance Monitoring and Head of Regulatory & Policy Compliance of an effective monitoring and evaluation process to monitor implementation of regulatory obligations and policies, and the identification and reporting of breaches of such obligations.

Key Deliverables:

Monitoring

• Primary responsibility for monitoring compliance by BSP Group with key compliance policies and procedures.
• Primary responsibility to supervise Monitoring Officers to monitor and test the appropriateness effectiveness of controls in the Regulatory Obligations Registers for all SBUs, Pacific Markets and Subsidiaries.
• Provide support for the maintenance of Compliance Registers.
• Monitoring of the resolution actions in the Compliance Plan for all SBUs, Subsidiaries and Pacific Markets.
• Key responsibility to liaise with and provide guidance and oversight to SBU, Pacific Markets and Subsidiary Compliance and Assurance Managers and Officers on the maintenance of compliance registers for Pacific Island Markets and Subsidiaries.
• Monitor and provide guidance to ensure procedural documents remain current when regulations change or when process improvements are required.
• Document non-compliance issues and recommend remedial actions where required.

Reporting

• Primary responsibility for notifying SBU, Pacific Markets, Subsidiaries and Compliance Management on levels of compliance assurance and/or control failures and breaches identified as a result of monitoring activities.
• Assist in the preparation of reports summarising compliance testing results including highlighting areas of non-compliance and recommend remedial actions

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 understanding of the regulatory requirements relevant to the BSP’s operations, products, channels and services.
• In consultation with Manager Compliance Monitoring, provide advice and guidance to the business on necessary actions to achieve regulatory compliance, address any compliance issues arising from monitoring reports.

Risk Assessment

• Providing feedback and information to Manager Compliance Monitoring and Head of Regulatory & Policy Compliance on results of monitoring activities to inform and update compliance risk assessments for BSP.
• Assist Compliance Monitoring Manager to regularly assess the relevance and focus of the Compliance Monitoring Plan.
• Assist in the development and implementation of compliance control testing strategies to manage regulatory risk.
• Assist in the development and updating of testing methodologies
• Perform regular compliance tests on internal procedures to ensure compliance with regulatory requirements

What You Bring:

Essential Qualifications, Professional/Skills and Experience:

• Tertiary qualification in Finance, Business Management or Diploma with at least 5 years’ experience in the industry.
• 3 years’ experience in the industry, at least 1 of which has been spent in a 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.
• Experience in Risks, Controls and Procedures
• 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.