Head of Compliance, Asia

Westpac Group

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profile Job Location:

Singapore - Singapore

profile Monthly Salary: Not Disclosed
Posted on: Yesterday
Vacancies: 1 Vacancy

Department:

Compliance

Job Summary

Description

Role Title:Head of Compliance Asia

Role location: Singapore Based

How will I help

The Head of Compliance Asia is accountable for providing senior second line compliance leadership and oversight for Westpac Banking Corporations (WBC) Asian operations including the WBC Singapore Branch and WBC Representative Office in China.

The role is responsible for implementing Westpac Institutional Bank (WIB)s Compliance framework locally ensuring regulatory compliance managing compliance risk and maintaining strong relationships with all relevant regulators. The role acts as a trusted but independent partner to the business enabling strategic objectives while maintaining robust compliance and conduct standards.

Responsibilities

Compliance Leadership & Strategy

  • Lead the Asia Compliance function delivering effective second line oversight across all WIB and Treasury activities in the region.
  • Implement and maintain jurisdictional compliance frameworks policies and methodologies aligned to WIB and Group standards and local regulatory requirements.
  • Implement and maintain the Asia compliance plan.
  • Drive continuous improvement of the compliance control environment in response to regulatory change and emerging risks.
  • Provide authoritative compliance advice on prudential conduct and regulatory obligations.
  • Work with the Head of WIB International Compliance to ensure consistency with global compliance frameworks.

Regulatory Engagement

  • Own and manage the regulatory relationships with relevant supervisory bodies in the region. Lead regulator engagements and responses to regulatory inquiries and commitments
  • Timely and accurate responses to regulators in coordination with WIB and Group Compliance and stakeholders.
  • Horizon scanning and monitoring of regulatory developments. Ensuring timely communication impact assessment and implementation.

Risk & Governance

  • Oversee the effectiveness of compliance programs controls and monitoring activities.
  • Escalate material compliance matters promptly to senior stakeholders including the Head of WIB International Compliance and WIB Chief Compliance Officer.
  • Represent Compliance at governance forums risk committees and new product approval processes.
  • Support a mature Three Lines of Defence (3LoD) operating model.

Business Partnership

  • Provide compliance advisory to lines of business and senior management in region while maintaining functional independence.
  • Partner with WIB Treasury business lines and control functions to ensure consistent application of compliance frameworks.
  • Support and advise on business delivery of products services projects and regional initiatives.
  • Provide periodic and/or ad-hoc training to business on compliance obligations risks and controls.

People Leadership

  • Lead develop and coach the Asia Compliance team to deliver high-quality outcomes.
  • Build a high-performance engaged and resilient team with strong technical capability.
  • Drive workforce planning succession and capability development aligned to Compliance priorities.

Accountabilities

  • Registration as Senior Manager for Compliance under the MAS Individual Accountability & Conduct regime
  • Compliance approval of new business products in the region
  • Investigation and determination of surveillance escalations
  • Performing compliance assessments of incidents and issues
  • Provision of compliance training to business and senior management
  • Effective implementation of compliance strategy and frameworks in the region
  • Strong regulatory relationships and credible supervisory outcomes. Notifying regulators of issues and/or breaches in line with obligations
  • Continuous strengthening of the compliance risk and control environment
  • High-quality advice escalation and issue management
  • Development of a capable engaged and high-performing compliance team

Whatsin it for me

The Head of Compliance Asia provides senior second line compliance leadership and oversight across WBCs Asian operations ensuring effective implementation of the WIB Compliance framework regulatory compliance and compliance risk management. The role partners independently with the business to support strategic objectives while upholding strong compliance and conduct standards.

You will play a significant part of the future of a business that has been around for 200 years. Our purpose is of creating better futures together. So we will back you in the development of your career internal career prospects and flexible working. You will also keep learning to grown backed by a fantastic team of people with a can-do supportive structure.

What do I need

Expertise

  • Bachelors degree (or equivalent).
  • 10 years regulatory compliance experience within either a large financial institution or at a regulator.
  • Deep knowledge of Singapore prudential and conduct regulation.
  • Knowledge of broader regulatory regimes across the Asia region including China.
  • Demonstrated experience leading compliance functions and managing senior stakeholders.
  • Proven ability to operate effectively in complex regulated environments.
  • Strong written and verbal communication skills.
  • Direct experience engaging with regulators.
  • Institutional / wholesale banking compliance background.
  • Experience leading strategic change or transformation initiatives.

Personal Attributes

  • Sound professional judgement and strong ethical orientation.
  • Ability to prioritise risk and escalate proportionately.
  • Commerciallymindedwithapragmaticsolutions-focusedapproach.
  • Confidentinfluencerwithresilience andcredibility atseniorlevels.
  • Proactiveadaptableandcomfortable leadingthroughchange.

Whatsit like to work here

When you join youll become part of the broader Westpac Group family where we aim to be a friendly switched-on team working for a single purpose - Creating Better Futures Together its what we do who we are and why we come to work every day. As an equal opportunity employer were proud to have created a culture where people can be their best in an environment that values diversity and flexibility.

Within the Westpac Group you will be part of the Institutional Banking division where our vision is to be a high performing and innovative institutional bank committed to enabling the growth of our global clients our economy and delivering sustainable shareholder returns.

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DescriptionRole Title:Head of Compliance AsiaRole location: Singapore BasedHow will I helpThe Head of Compliance Asia is accountable for providing senior second line compliance leadership and oversight for Westpac Banking Corporations (WBC) Asian operations including the WBC Singapore Branch and WBC...
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Westpac has a long and proud history as Australia's first and oldest bank. It was established in 1817 as the Bank of New South Wales under a charter of incorporation provided by Governor Lachlan Macquarie. In October 1982 it changed its name to Westpac Banking Corporation following th ... View more

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