VP & Regional Compliance Officer, Asia (Shanghai)VP & Regional Compliance Officer, Asia (Shanghai)
Location:Shanghai
Job ID:13919
State/Province:II
Duration:Full Time
DESCRIPTION
This position is based in Shanghai.
This person is responsible for providing expert compliance support relating to CIT Group?s compliance program and for creating a compliance program for CIT?s businesses in Asia, mainly consisting of Vendor Finance. This role supports the senior compliance leadership and business lines in effectively executing the requirements of the compliance program and the day to day operation of aspects of the compliance function, including development of policies and procedures, testing, training, review of customer documentation, MIS and reporting, and other elements typically found in compliance programs of large, complex financial institutions. The successful candidate will be well prepared to provide timely and effective advice to Business Unit Compliance Officers, business leaders, compliance staff members, and the Chief Compliance Officer on applicable laws, rules and regulations, and emerging compliance requirements. Compliance experience in a large regulated financial institution and/or with a state, federal or other financial services regulator is required. Leadership positions and/or roles in managing large-scale projects/matters are beneficial. The position reports to a Director/Senior Compliance Officer within CIT?s Corporate Compliance Department. The role requires the development of close working relationships with business staff in the Asian offices and ability to coordinate the development of a BHC-level compliance program in China and other Asia region countries.
REQUIRED SKILLS
Position Responsibility:
cute the requirements of the Corporate Compliance Program for Asia to promote a strong compliance control environment and provide regulatory and compliance guidance.
elop a strong and effective compliance program based on corporate compliance programs for Asia.
erface with internal departments as appropriate such as IT/Information Security, Law Department, Enterprise Risk Management, Operations, Internal Audit, and others.
elop and assure the execution of compliance monitoring and testing programs pursuant to Compliance guidelines to independently assess business unit compliance activities.
vide guidance to business units on development and implementation of policies and procedures.
ure effective implementation throughout the businesses of CIT?s compliance program requirements, supporting the business line compliance officers.
k closely with members of the Compliance Department (e.g. AML, Privacy, OFAC/Sanctions, Training, foreign regions) to ensure all parties are aware of key issues and risks; recommend monitoring and other controls to mitigate risks.
age multiple priorities and establish and adhere to the work plan/program for the business unit.
ong background in handling compliance risks and internal controls, as well as an executive presence and the ability to successfully engage with senior management to achieve compliance objectives.
p identify evolving risks affecting business activities and changes to internal controls and assess the impact on business unit?s strategy and appropriate risk mitigants.
elop and maintain cooperative, collaborative and productive team-driven relationships between the businesses, Corporate Compliance, and other stakeholders.
ticipate in new product development initiatives or modifications to existing business unit products, services and business processes involving the Asia based businesses.
vide independent compliance risk assessment of new products and changes to existing products, services and processes in Asia.
duct thorough due diligence reviews and prepare reports and recommendations regarding potential new products, services, transactions, and other business activities, as well as regulatory examinations.
alate compliance concerns on a timely basis to business unit senior management, Chief Compliance Officer and to communicate issues and identify/implement mitigation strategies.
ue resolution.
tner with Compliance and business colleagues to identify appropriate solutions to resolve or mitigate compliance weaknesses, failures and issues on a timely basis.
vide independent reporting to management on the status of compliance issue resolution.
onstrated ability to effectively assess risks/conflicts and to focus efforts on critical issues.
ck status of identified issues, verify the effectiveness of corrective action, and report status of outstanding issues, escalating concerns as required.
onstrated ability to communicate well in writing, with senior leaders, colleagues, and to spot issues.
ist in review and development of compliance training content tailored for the Asia region.
ure that compliance training is appropriately tailored to Asian country laws, rules and regulations and translated as necessary to ensure effective compliance learning in the region.
actively draft and implement required compliance policies, procedures, alerts and training materials to keep employees abreast of relevant industry, legislative and regulatory requirements and developments.
ticipate in drafting specialized compliance training for business unit personnel.
vide guidance to business unit during training material development.
vide regular and meaningful reporting to senior business unit and compliance management.
ist in annual Compliance Risk Assessments; assist and advise in identifying mitigating controls and preparing action plans to implement identified solutions.
pare status reports for senior compliance officers and Chief Compliance Officer regarding compliance and related management activities.
tinely advise senior compliance leaders and business management of emerging compliance and regulatory risks, concerns, and issues.
Minimum Required Skills and Experience:
Required Knowledge, Skills and Abilities
?Undergraduate degree required.
?Fluency in Mandarin/local dialects and English required.
?Knowledge of China and Asia region and familiarity with local banking laws, rules and regulations, particularly in China.
?5+ years regulatory or compliance management, audit or operational risk experience at a regulated financial institution or financial institution regulator;
?Operational knowledge of lending and leasing businesses;
?Experience with identifying, managing and addressing regulatory issues for a bank or Bank Holding Company;
?Strong oral and written communication skills.
?Ability to drive change efficiently and collaboratively across an organization.
?Collaborative leader with strong work ethic, demonstrated history of professional expertise and achievement in similar Compliance roles and in addressing complex compliance and regulatory challenges.
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