Senior Compliance Officer
Port Moresby, Papua New Guinea
Job Type
Full time
Workspace
Office
Qualifications
• Tertiary qualification in a business, law, finance or related discipline is required, however not mandatory
• Sound industry knowledge and/or understanding of Bank of Papua New Guinea regulatory framework for
financial services sector.
• Ability to conduct compliance audits
• Relevant training in AML/CTF Compliance (not mandatory).
• Minimum of 5 year’s compliance experience in a PNG Financial Services firm.
• Understanding of BPNG Prudential Standards
About the Role
Reporting to the Manager Compliance, the Senior Compliance Officer will set up, oversee and monitor
compliance with regulatory requirements in relation to the Superannuation Act and Prudential Standard
Requirements.
The role will be to assist in the development of a compliance program for our client to meet industry standards and be familiar with compliance risks to ensure effective monitoring and controls are adhering in the organisation.
Requirements
As a senior member of the Compliance team, this position will be responsible for:
• Working collaboratively with Manager Compliance to implement the company strategy across all levels of
the Fund.
• Develop and implement an effective Compliance Program
• Evaluation business activities (e.g. investments) to assess compliance risks and monitor adherence to
policies and procedures
• Present and implement awareness to the organisation Management and General Staff on key changes in
regulatory requirements or best practices.
• Communicate and report on compliance risk assessments for and recommend quality controls.
• Become a point of contact with external auditors and Bank of Papua New Guinea during audits or
regulatory matters.
- Operational Responsibilities: Coordinate with 1st line of defence (business units) in the following key areas:
• Identify strategic business controls for conforming with regulatory and internal policy requirements.
• Lead the implementation of all general awareness on compliance matters across the business
• Building business unit capability and team culture to support the delivery of compliance management
initiatives.
- Strategic Initiatives
• Develop a control self-assessment program for assessing controls and conducting compliance test to
internal audit (3rd line of defence) requirements.
• Assist in developing and implementing and Anti-Money Laundering (AML) and Counter Terrorist Financing
(CTF) Assessment Program and related areas.
- People & Succession Planning
• Build the capacity of the Compliance team and provide leadership and coaching to the team to facilitate
their professional development.
- Compliance & Relationships - Ensure compliance to:
• Company policies, procedures & Staff Code of Conduct.
• Superannuation Act and other relevant statutory regulations.
- Occupational Health & Safety
• Participate in the culture of cooperation, initiative and responsibility through the organization to maintain a
safe and healthy workplace.
- Company Values
• To ensure behaviour is in accordance with the expected output of each Value.
- Other
• All other duties as required by Business unit.
About the Company
Our client is a defined contribution fund (accumulation fund) approved under the Superannuation (General Provision) Act 2000. The Fund is governed by the Board of Directors of our client, the Fund's Corporate Trustee ("the Trustee").
The Fund exists to invest amounts contributed by or on behalf of Members for their retirement. It has no purpose other than to serve the interests of its membership.
The Trustee's primary responsibility to the Fund's Members is to ensure that the Fund is run according to the principles of good corporate governance. To achieve this objective, the Board implements five key governance principles across the entire operation of the Trustee and the Fund:
1: Compliance with the law. 2: Effective leadership. 3: Integrity. 4: Accountability. 5: Risk management