Regulatory Compliance

Headquartered in Tokyo, Sumitomo Mitsui Banking Corporation (SMBC) is a leading global financial institution and a core member of Sumitomo Mitsui Financial Group (SMBC Group). Built upon our rich Japanese heritage since 1876, we put our customers first and provide seamless access to, from and within the Asia Pacific region. SMBC is one of the largest Japanese banks by assets and maintain strong credit ratings across our global integrated network.  We work closely as one SMBC Group to offer personal, corporate and investment banking services to meet the needs of our customers.

With sustainability embedded within our strategy and operations, we are committed to creating a society in which today’s generation can enjoy economic prosperity and well-being, and pass it on to future generations.

Sumitomo Mitsui Banking Corporation Malaysia Berhad (SMBCMY)

Job Description

Identification of Compliance Risks

1. Identify Regulatory Compliance risks; recommend control measures to mitigate compliance risks; and carry out timely follow up on the actions required by the relevant stakeholders.
2. Timely dissemination of regulations/circular or notices received from the regulator, with timely completion of gap analysis by working closely with the relevant departments.
3. Ensure proper documentation of gap analysis including recommendations and conclusions.
4. Keeps abreast of the establishment, revision and abolishment of relevant laws and regulations.

Reporting

1. Prepare compliance reports to Management/Regional/Head Office/Risk Management Committee/Board Risk Management Committee/Board.
2. Preparation and participation in the Regional In-Office Compliance Committee Meeting.
3. Timely escalation of issues and matters to the Regulatory Team Lead or Chief Compliance Officer.

Policy and Procedures

1. Consider the impact on the changes in laws and regulations on the bank’s operations by taking necessary measures to ensure the incorporation of such regulatory requirements in the local manuals and procedures.
2. Assist to establish a Local Compliance Manual as well as other relevant policies and procedures, maintains them by revising it according to changes in circumstances.

Advisory

1. Provide regulatory advisory to the relevant departments and management not limited but inclusive of Foreign Exchange Notices and BNM Policy Document, Entertainment and gift applications, Marketing/Presentation materials, New Product implementations, etc.
2. Maintain good relationship and close follow up and contact with the relevant departments as well as providing timely support to the compliance team members.
3. Support business units from compliance perspective in new business initiatives (e.g. new product launch etc.).

Communications

1. Liaise with the regulators including Bank Negara Malaysia and Labuan Financial Services Authority for compliance matters including mandatory reporting, inspections and meetings.
2. Liaise with Regional Office, Head Office, Internal Audit Department, Regional Audit, as and when required.

Training

1. Preparation of training materials, provide guidance and training whenever necessary to create compliance awareness and establish a clear understanding of regulations and rules.

Others

1. Perform eCommunication Surveillance and support matters related to eCommunication.
2. Provide guidance and support to the team members.  
3. Provide support to the insourced compliance functions from SMBC Labuan Branch.

Job Requirements

1. Relevant degree or Advanced Certification in Regulatory Compliance
2. Minimum 7 years of relevant working experiences in compliance matters for Financial Institutions particularly in the areas of Advisory on Foreign Exchange Policy and BNM Policy Document.
3. Strong grasp of compliance of a Financial Institutions
4. Well-versed in laws and guidelines of local authority
5. Communication, people management and coaching skills