Compliance Manager - Financial Economic Crime
Job Overview & Purpose:
The Manager Compliance, Financial Economic Crime is responsible for providing in depth technical knowledge and expertise in relation to the Financial Economic Crime (FEC) compliance requirements driven from local legislation and Group Policy requirements (based on European and Global legislation). Specifically, the role covers the regulatory areas of Anti Money Laundering (AML)/ Counter Terrorist Financing (CTF), Sanctions and Foreign Account Tax Compliance Act (FATCA)/ Common Reporting Standard (CRS). Comprehension of anti-bribery and corruption legislation is also desirable.
The Manager is responsible for supporting the Head of Financial Economic Crime in driving and executing RANZG’s strategy to ensure a robust framework and control environment is in place to mitigate and manage the Bank’s exposure to FEC related risks.
The role will be required to act as the Compliance Subject Matter Expert (SME) on FEC related projects, support control and process remediation projects, provide technical advisory support on escalated matters and incident investigations, monitoring and impact assess regulatory change, as required.
The role holder will assume hands on responsibility and direct accountability for tasks and activities allocated to them, working collaboratively with internal stakeholders to deliver objectives of meeting obligations and managing compliance risks within risk appetite.
The role is responsible for supporting the RANZG Compliance Management Team (MT) in embedding the Compliance Management Framework for FEC obligations and compliance risks, implementation and maintenance of increasing compliance requirements driven from local legislation and Group Policy requirements (based on Global and European legislation).
The Compliance Framework provides a platform for RANZG to comply with the wide range of regulatory and policy requirements. The Framework provides mechanism for compliance in areas such as Anti Money Laundering & Counter Terrorist Financing, Client Due Diligence Sanctions, Anti-Corruption, Treating Customers Fairly, Conduct & Advice, Market Abuse, Conflicts of interest and related policies and Privacy.
Context of Job:
The external environment in relation to Compliance is largely driven by the requirements of regulators, and in the key areas of Financial Economic Crime, Conduct of Business, Compliance Governance and Prudential Control and Licensing.
There is increasing regulation impacting RANZG with a greater need to demonstrate a robust Compliance Framework. As regulators increase their levels of oversight, there is an increasing need to demonstrate the effectiveness of the framework.
The Compliance team is responsible for providing subject matter expertise on compliance matters across all divisions and business units of RANZG, working closely with the Executive and senior managers to drive Compliance awareness and accountability throughout the organisation in line with the agreed risk culture.
The Compliance team is also responsible for the development, maintenance and operation of Compliance policies and the Compliance management framework in line with Group requirements.
Key Responsibilities and Accountabilities:
• Supporting the Head of FEC with the execution of the FEC framework and policy strategy and activities, ensuring compliance with obligations and a robust risk and control framework is implemented effectively and operating.
• Manage and communicate compliance issues brought by changes to (FEC related) legislation and other regulatory requirements across Australia and New Zealand or relevant other jurisdictions by providing briefings/ updates to management and staff.
• Assist in ensuring compliance with requirements of laws, regulations and industry standards.
• Act as a FEC SME providing consultancy to projects affecting Australia and New Zealand products and processes to ensure compliance requirements are adequately assessed and controls put in place.
• Assist with the input and completion of relevant / required reports to Boards, Committees, Group, Management and Business Units as required.
• Assist with managing the methodology and implementation of ML/TF risk assessments across customers, products, channels and jurisdiction.
• Provide input and guidance to Group Policies and standards as well as undertaking gap analysis with the business when updates to new policies and standards are issued, including review of the local AML/CTF Program.
• Act as an SME to support investigations into escalated incidents and breaches, analysing results, reporting and follow up on remedial action.
• Act as an SME to provide input into the development, and occasional delivery, of FEC-related compliance training.
• Contribute to building and supporting an inclusive and collaborative RANZG compliance team and environment.
• Other duties as directed.
• Bachelors degree
• Relevant industry body membership
• Minimum 5 - 8 years in Financial Crime Risk / Compliance
• In depth understanding of financial economic crime compliance requirements and practices in the Australian financial services sector, gained through previous experience in this area.
• Solid understanding of Australian regulatory environment and requirements.
• Knowledge of Microsoft Office applications
• Knowledge of change management methodologies (desirable).
• Knowledge of Agile methodologies (desirable).
Technical and specialist skills:
• Expertise in the AML/CTF rules and regulations in AU.
• Knowledge of US, EU and AU sanctions regimes
• Knowledge of Sanctions filters, rules and best practice monitoring techniques
• Experience in writing and delivering technical training to non-technical audiences
• Ability to clearly present technical information
• Influencing and stakeholder engagement
Vision and strategy
• Continuously improve expert knowledge in own profession, while staying up to date with trends in the industry.
• Demonstrate business acumen.
• Ability to manage stakeholder expectations
Communication / Influencing
• Communicate (verbal, nonverbal written or in presentation) in concise, clear and transparent manner.
• Openly discuss questions and concerns before taking action.
• Build, expand and maintain a network of internal and external contacts.
• Strong relationship management skills
• Foster an open dialogue and encourage a free flow of information.
• Continually strive to improve performance and results.
• Pursue work with energy, drive and commitment.
• Ability to work to deadlines.
• Ability to manage competing priorities and plan own work effectively and efficiently
• Substantiating (operational) choices and actions based on a thorough problem analysis.
• Collecting relevant information, analysing data and interrelating them.
• Drawing correct and realistic conclusions.
• Customer Focus – Engaging the customer in dialogue. Detecting and listing customers’ wishes and needs. Responding and anticipating to this, putting customer interest first. Thinking and acting from the customer’s perspective. Staying focused on creating added value for the customer (customer value) and improving the service provision.
• Partnership – Contributing to a joint result based on the philosophy of reciprocal value creation. Seeking collaboration and supporting others. Showing commitment to the joint objective and acting accordingly. Sharing information and knowledge with others. Achieving and connecting synergies.
• Communication – Delivers a strong and coordinated message. Ensures transparency.
• Deliver Results – Working actively and in a disciplined way towards achieving the agreed results and set goals. Working according to the principles of ‘right first time’ and ‘good is good enough’. Seeking challenges and identifying and creating opportunities to improve results.
• Influencing – Winning other people’s support by using convincing arguments and the correct tone and timing. Inspiring and enthusing others with presentation, personal conviction and image. Starting a movement, mobilising people and getting commitment through persuasion and inspiration.
• Problem Solving – Substantiating (strategic and operational) choices and actions based on sound problem analysis. Collecting relevant information, analysing data and correlating. Drawing correct and realistic conclusions.
Values & Agreed Standards:
• We are always client-focused and decisive.
• We work with courage and conviction.
• We are professional and considerate.
• We bring out the best in each other and are committed to keep learning.
• I go the extra mile for my clients.
• I dare to make a difference for the world I live in.
• I’m doing the right thing exceptionally well.
• I support you to make you better.
• As allocated by Compliance MT
Policy and Decision-Making Freedom:
• As allocated by Compliance MT
• Business units across RANZG
• Group Compliance
• Third party service providers
• Industry bodies
Key Performance Indicators (KPIs):
Key performance Indicators (KPIs) are set at the beginning of each performance year and are monitored via the TRIPPPLE appraisal system.
As a guide KPIs will be based around (but not limited to) the following areas:
• Demonstrate general risk management awareness practices, through performing role in adherence to Rabobank policies, procedures and values
• Completion of activities as set out in the Compliance Year Plan on schedule
• Increasingly leverage and contribute to global capabilities
• Effective management reporting
• Educate, coach and assist stakeholders across RANZG in compliance risk management