Role of Hewlett-Packard InternationalBank (HPIB) Compliance Officer
Central Bank Corporate Governance Code specifies: “The Board shall satisfy itself that all key ControlFunctions such as internal audit, compliance and risk management areindependent of business units, and have adequate resources and authority tooperate effectively.”
Central Bank EnforcementStrategy extract: “A key component of our newapproach is a more vigorous application of Enforcement effort backed by sufficientresources to represent a credible threat of action. Where serious breaches ofregulatory requirements occur, regulated entities and their management canexpect that those serious matters will be investigated fully and vigorouslyfollowed through to conclusion.”
The Regulator has overthe past few years indicated a change of approach on enforcement with a greateraptitude to sanctioning institutions.
Role of HPIB Compliance Officer:
- Ensure HPIB is aware ofall European Banking Authority, Central Bank of Ireland, Bank of InternationalSettlements & European Commission Regulatory requirements (about 60/70 publications overall annually)
- Responsible for the communication, documentationand implementation of requirements
- Review each guideline tounderstand the requirements and works with the relevant Head of function toensure HPIB understands the impact of the requirements and implements allrequirements within specified timelines.
- Test the relevant new requirements once implemented.
- Manage relationship with auditors on a regularand informed basis.
- Manage relationship with the Regulator on aregular and informed and proactive basis.
- Ensure HPIB meets Restricted Party Listcompliance requirements, verification by regular testing
- Compliance Officer will need to testcompliance of Anti-Money Laundering on a quarterly basis.
- Compliance Officer will also need to test andverify in accordance with a Compliance Plan approved by the Board of HPIB.
- With the Head ofCompliance, present Compliance update – status of implementation of regulatoryrequirements & results of Compliance testing quarterly to the HPIB Audit& Compliance Committee.
- Responsible for the corporate governancerequirements for HPIB including, without limitation, preparation ofresolutions, any Central Bank applications and ensuring all regulatory reportsfiled on time.
- Responsible for tracking Legal/Tax/Treasuryfilings/deadlines in Ireland on the EMEA compliance calendar and responsiblefor the development/maintenance of same.
- With the Head of Compliance, chairing the HPIBCompliance Committee and reporting to the Audit and Compliance Committee on aregular basis.
- Work with lawyers on a daily basis to review andprocess corporate governance/regulatory documents for HPIB.
- Maintain corporate governance files for HPIB in asafe and secure fashion.
- Assist with corporate governance mattersgenerally.
- Supporting various corporate compliance programs,including, anti-money laundering, trade, privacy, Standards of Business Conductetc.
- Perform testing on a quarterly basis of HPIB CrossBorder compliance and ensure staff regularly trained on Cross Borderrequirements
- Inform, educate and train personnel onrelevant new requirements, standards and policies.
- Maintain HPIB Policies list , ensuringpolicies are reviewed regularly
- Report results of Compliance testing to seniormanagement on a quarterly basis.
Education and Experience Required:
- First level university degree with a focus in business or economics; advanced degree or accounting certification (e.g., Certified Public Accountant (CPA), Master of Business Administration (MBA) preferred.
- Minimum of 3 years of experience in a compliance role
- Typically experienced in more than one compliance function.
Knowledge and Skills Required:
- Excellent understanding of compliance landscape.
- Excellent analytical skills.
- Excellent communication and influencing skills.
- Superior teamwork skills
- Strong business acumen.
- Good project management skills.
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