Compliance and Operational Risk Manager, Indonesia

Job Description

Job Title: Compliance and Operational Risk Manager, Indonesia

Company Overview

As an investment manager, we help institutions, intermediaries and individuals meet their goals, fulfil their ambitions, and prepare for the future. But as the world changes, so do our clients needs. That's why we have a long history of adapting to suit the times and keeping our focus on what matters most to our clients.

Doing this takes experience and expertise. We bring together people and data to spot the trends that will shape the future. This provides a unique perspective which allows us to always invest with conviction. We remain determined to build future prosperity for our clients, and for all of society.

Overview Of Role

The individual will be responsible for a broad scope covering all the aspects of Compliance, including AML&CTF and CPF. The role undertakes and manages daily compliance and risk-related responsibilities within the Company, including advisory, reporting/disclosure and monitoring activities, thereby assisting Schroders to meet the regulatory standards expected by our clients and required by local regulators.

Together with the AML-CTF MLRO, the Compliance and Operational Risk Manager is responsible for ensuring relevant Financial Crime policies and procedures are implemented, monitoring the Financial Crime compliance arrangements within the firm, receiving and reviewing reports of suspicious activity and dealing with external parties (regulators, law enforcement) on Financial Crime matters, ensure regulatory compliance and standard requirements.

The Individual Will Be, Among Other Things

• Operating to the highest level of integrity.
• Carry out compliance related activities and ensure compliance with the applicable local laws, rules, regulations, standards, code of conduct, and firm policies and standards of good practice.
• Establish and review policies and procedures, and together with impacted parties, assess and interpret the potential impact of new laws and regulations on our business.
• Develop, maintain, and implement the compliance program, including the compliance policies and guidelines, documentation, training logs, and related policies/procedures; ensure a proper execution of the compliance monitoring plan and appropriate controls.
• Scrutinise and test compliance programs, including quality assurance, interpret findings and work with various teams to develop risk-based approach, provide constructive feedback and be responsible for resolutions, including addressing any audit findings.
• Review current processes and identify potential improvements; provide adequate oversight to ensure the company has an effective control environment to minimize compliance risks.
• Work closely with various stakeholders to identify enhancements in compliance processes and lead the implementation of system changes.
• Assist in investigating and reporting any breach of law or regulations where appropriate and follow up on resolutions.
• Advise various stakeholders of any implications of new regulations/regulatory changes and provide guidance on the proper and prompt implementation of procedures to comply with the requirements.
• Manage and coordinate reporting internally and externally, respond to information requests, and proactively communicate product changes and notifiable events.
• Keep up to date with regulatory change and provide input to governmental policy departments on the impact of proposed changes in regulation.
• Understand and maintain knowledge and keep abreast of all local compliance requirements to ensure that PTSIMI compliance program, product and services are implemented and consistent with applicable local laws and regulations.
• Maintain compliance frameworks, policies and documentation and work in conjunction with Head of Compliance in leading regulatory audits; collaborate with other departments to create a culture of compliance and promote the adoption of a compliance culture throughout PTSIMI Operations, consistent with its values.
• Track and monitor regulatory risk, compliance with regulatory requirements and internal policies.
• Work with various teams to raise awareness about local regulatory requirements and empower teams to build risk-based processes which are clearly documented.
• Adapt focus on different compliance issues in line with growth plans and compliance needs.
• Work with internal/external auditors in the review of compliance internal controls.
• Provide advice, guidance, and ongoing training to staff on the appropriate implementation of compliance framework, including policies and procedures such as those contained in the Compliance manual, internal codes of conduct, practice guidelines, and relevant regulatory requirements and educate employees regarding the impact on our organization in the event of non-compliance; develop training materials and regularly sensitize senior management, relevant employees, and business partners regarding key compliance risks.
• Work closely with regional/Group to ensure local compliance policy and processes are aligned, consistently applied and risk metrics are managed appropriately. The individual will also coordinate and escalate any concerns with regional/Group to address issues raised in audit reports, self-assessments, compliance reviews, and/or regulatory inquiries, as well as assist in the gathering of internal information in response to regulatory requests.
  
  

As coordinator of risk management, compliance, and internal audit function, per the responsibility covers:

• Compliance:
  
  

In performing the compliance function, the coordinator of risk management, compliance, and internal audit function is responsible for:

• Ensuring the compliance of Investment Management on rules and regulations;
• Acting as a liaison officer with the Financial Services Authority;
• Formulating a compliance strategy;
• Renewing the compliance strategy, if:
• there is any change and/or addition to the Investment Management activities; and/or
• there is a new regulation and/or change in the regulation of Financial Services Authority or other corresponding regulations;
• Disseminating and socializing compliance manuals, policies, procedures and other information related to compliance to all relevant units within the Investment Manager;
• Performing surveillance and ensuring the implementation of business continuity plan in accordance with policies that have been defined by the company;
• Ensuring that employee obtain relevant compliance trainings and educations;
• Formulating and submitting an annual work plan of compliance function to the Board of Commissioners containing activities and schedule of compliance function's activity implementation;
• Formulating and submitting mid-year and annual reports on the implementation of compliance function to the Board of Commissioners; and
• Submitting an incidental report to the Board of Commissioners if there is any alleged violation against Capital Market rules and regulations committed by the Investment Manager and/or their customers within at least 2 (two) days since the day the alleged violation is found.
• Risk Management:
  
  

In performing the risk management function, the coordinator of risk management, compliance, and internal audit function is responsible for:

• Formulating a risk management strategy;
• Renewing the risk management strategy, if:
• There is any change and/or addition to the Investment Management activities; and/or
• There is a new regulation of and/or change in the regulation of OJK or other corresponding regulations;
• Regularly monitoring and reviewing the implementation of the risk management strategy;
• Monitoring the position of the aggregate and each type of risk; and
• Applying an effective risk management in accordance with the size and complexity of the business and capability of the Investment Manager.
  
  

The Implementation Of Risk Management Function As Mentioned In Point c Above Shall Be Performed Based On a Risk Management Strategy That At Least Contains

• The identification of all risks that might occur in Investment Manager activities;
• Explanations on the causes of risks;
• The identification of the likelihood of those risks to occur;
• Explanations on the implication of the occurrence of those risks; and
• Steps that must be taken if those risks occur.
• Internal Audit
  
  

Responsibilities

In performing internal audit function, the coordinator of risk management, compliance and internal audit functions is responsible for ensuring that the implementation of the Investment Manager functions is in accordance with procedures and written policies/ standard operating procedures and is responsible for:

• Making plan, controlling and recording the implementation of all internal audit activities;
• Making records of all findings, conclusions, and recommendations on the implementation of all internal audit activities; and
• Formulating an internal audit report after performing every internal audit for submission to the Board of Commissioners.
  
  

Generally, as party overseeing local AML-CTF MLRO, the responsibilities shall include among other things:

• Operating to the highest level of integrity and ensure that no criminal risk and financial crime takes place.
• Ensuring compliance with current financial crime regulations and other relevant legislations.
• To maintain AML-CTF Policy and Guidance to factor continuing changes to legislation and regulation.
• Provide oversight, risk assessment, control, support, and coordination for AML-CTF compliance involving ML-TF detection, KYC, partner bank due diligence with business.
• Assisting with the development, implementation, and maintenance of local AML-CTF programs,
• Developing and maintaining a risk assessment framework for products and services, clients, and other issues relating to financial crime, including ML-TF.
  
  

Essential Skills

• Possess an active WMI license
• At least 6-7 years of relevant experiences in 2nd line function (Compliance and Risk) within any regulated financial service businesses; previous experience as MLRO within the financial service industry in Indonesia would be required.
• Have a strong knowledge on financial and regulatory landscape in Indonesia (especially in regards to capital market).
• Fully knowledgeable and skilled in all areas of policies and procedures and in the methodology of financial crime.
• Team player with a good analytical mindset and strong problem-solving skills and demonstrate strong proactivity.
• Have a well-rounded and in-depth understanding of compliance, risk management, regulatory topics, and local as well as global standards related to governance and framework specifically AML-CTF, with relevant knowledge in establishing and implementing policies and procedures within the Company.
• Strong communication, organisational, and analytical skills, and ability to deliver clear presentations to interact with broad ranges of audiences or stakeholders with different background.
• Excellent relationship building skills; ability to communicate clear and effective advice on compliance requirements and standards whilst exhibiting sound commercial judgement.
• Have demonstrable experience designing and challenging processes and have thought deeply about company's mission and how it intersects with compliance.
• Fluent in Bahasa Indonesia and English and able to communicate clearly both orally and in writing; this includes ability to interpret regulations in Bahasa Indonesia and English and regular communication with people from all teams.
• Well-organized and have a sense of urgency and ability to work well under pressure, prioritising, being accountable and working to tight deadlines.
• Ability in improving current practices and processes and can apply different compliance strategies to develop multiple compliance frameworks.
• Ability to collaborate with various senior stakeholders from other functional teams.
• Strong and demonstrable numerical and analytical abilities and structured thought processes in order to provide advice and perform independent assurance.
• Ability to effectively network with the regulators, industry, and the businesses.
  
  

Desirable Skills

• Have high level of IT literacy and experience using technology such as data analytic tools to analyze and monitor potential risks is preferred.
• Have valid WMI and/or WPPE license is preferred.
• Have valid relevant Compliance-related certification.
  
  

Schroders is an equal opportunities employer and welcomes applications regardless of sex, marital status, ethnic origin, sexual orientation, religious belief or age.

About Us

We're a global investment manager. We help institutions, intermediaries and individuals around the world invest money to meet their goals, fulfil their ambitions, and prepare for the future.

We have around 6,000 people on six continents. And we've been around for over 200 years, but keep adapting as society and technology changes. What doesn't change is our commitment to helping our clients, and society, prosper.