Unit Head CRM

Position Summary:

The Unit Head of Compliance Risk Management is responsible for the effective implementation and management of compliance risk throughout the bank. This role involves Maintenance of Regulatory repository, Managing Policy House, Conducting Compliance Risk Assessments (CRA) across the bank, CRA testing and validation, Monitoring Key Risk Indicators (KRIs) for Compliance Department. The Unit Head will work closely with cross-functional teams to provide ongoing guidance and support, fostering strong collaboration across departments. This role requires fostering a culture of compliance by providing support, facilitating training, and ensuring alignment with regulatory expectations.

Key Responsibilities

Strategy

• Vision and Strategy:
  Assist the Head of CRM in developing and implementing the vision, strategy, and direction for Compliance Risk Management, ensuring alignment with the bank's strategic objectives and growth goals.
• Cross-functional Collaboration:
  Support collaboration with internal stakeholders, including business units and risk owners, to align with regulatory requirements and provide support on compliance matters.
• Compliance Culture:
  Contribute to promoting a strong compliance culture throughout the bank, encouraging ethical business practices and proactive risk management.

Regulatory Repository Management

• Develop and maintain a centralized regulatory repository, ensuring compliance with applicable regulations, circulars, and directives.
• Monitor regulatory changes and update the repository in real-time via the SAS GCM system.
• Disseminate regulatory directives and provide guidance to stakeholders on compliance expectations.
• Monitor ongoing updates to regulations and ensure they are updated in the repository in real-time via SAS GCM system.
• Track compliance deadlines and regulatory changes to ensure the bank remains compliant.

Policy House Management

• Ensure accurate documentation and central storage of all policies, procedures, and SOPs within the Policy House.
• Design and maintain a tracker for policy review cycles, implementing version control and visual reminders for stakeholders.
• Send reminders to stakeholders for policy reviews, updates, or renewals, ensuring adherence to regulatory timelines.
• Collaborate with different business units to gather input and revisions required for policy updates and ensure their timely incorporation into the Policy House.

Compliance Risk Assessment (CRA)

• Lead the development, execution, and improvement of the CRA process, ensuring alignment with regulatory requirements.
• Conduct live CRA exercises to assess risk identification and the effectiveness of existing controls.
• Gather controls from stakeholders and conduct assessments to ensure alignment with regulatory requirements.
• Ensure that compliance risk assessments identify key controls, evaluate their impact, and propose effective mitigation strategies.
• Integrate CRA results into decision-making and support corrective actions.

Compliance Testing & Validation

• Conduct periodic compliance testing across business units, focusing on high-risk areas and new regulations.
• Identify and report compliance risks and control weaknesses, collaborating with stakeholders for mitigation.
• Prepare detailed compliance testing plans and reports summarizing findings, weaknesses, and recommended actions.
• Monitor compliance remediation efforts, escalating issues when needed, and ensuring adherence to corrective measures.

Key Risk Indicators (KRIs) Monitoring

• Develop and maintain a KRI framework aligned with compliance risk management strategy.
• Define measurable KRIs, establish thresholds, and conduct regular assessments for continuous monitoring.
• Engage with key stakeholders in the Compliance Department to review KRI results and their alignment with overall risk management objectives.
• Review and adjust KRI metrics and thresholds as new risks emerge, or regulatory requirements change, ensuring the indicators remain relevant and effective.
• Review KRI metrics and thresholds in response to emerging risks or regulatory changes.

Cross-Functional Collaboration & Awareness

• Coordinate with cross-functional teams to provide support and integrate regulatory updates into operations.
• Facilitate training sessions and awareness initiatives to keep stakeholders informed about compliance changes and SAS GCM system.
• Collaborate with internal departments to implement necessary changes to processes, systems, and policies in alignment with regulatory directives.

Regulatory Feedback and Coordination

• Prior to the issuance of new circulars or regulations by the regulator (where feedback is required from banking industry), proactively seek feedback from relevant stakeholders on the drafts received from the PBA/SBP.
• Ensure relevant department input is gathered to ensure that the bank's concerns and operational perspectives are considered during the finalization of the regulations before they are officially issued by the regulator.
• Support stakeholders in preparing and submitting exemption or extension requests to regulators when necessary.

Competencies

• In-depth knowledge of regulatory requirements and industry standards.
• Excellent analytical and problem-solving skills with the ability to assess complex compliance risks and develop effective monitoring strategies.
• Strong attention to detail, with the ability to work in a fast-paced and dynamic environment and SBP Regulatory framework.
• Experience in working with automated compliance systems

Knowledge and Experience:

Education:

Master's Degree in Business Administration, Commerce, Finance/ ACCA/CA or a related field.

Experience:

Minimum of 10 years of experience in compliance/ risk management, or a related field.

Behavioral Skills:

• Good organizational & team management ability
• Oral & written communication skills
• Building Collaborative Relationships
• Analytical Thinking
• Self-motivated & able to work independently