Compliance and Resilience Specialist

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Position Title: Compliance and Resilience Specialist
Reports To: Chief Risk Officer (CRO)
Direct Reports: nil

Foresters Financial is a 175-year young Friendly Society and has a simple business operating model. We are making major strategic changes and building a culture of high performing team. The uplift of compliance and operational resilience is a top priority.

Role Purpose

The Compliance and Resilience Specialist (CARS) is a critical Line 2 role within our financial services business. You will develop, implement, improve and oversee policies and programs to ensure Foresters complies with regulatory and legislative requirements, industry standards, and internal policies. This role will focus mainly on the implementation and execution of fit for purpose frameworks. You will work closely with the CRO and have ownership of your portfolio and have the freedom to add value.

Your work will roughly comprise 70% of compliance, 20% resilience and 10% ad hoc. Your knowledge, experience and commitment to compliance work is essential.

What's on offer for you

Flexible working arrangements promoting work/life harmony. 3 days in our Melbourne office is mandated.

Your opinion matters. Freedom to make this role your own (within certain risk boundaries).

Attractive (market-oriented) remuneration.

Scope for professional learning and development.

Personal touch in a small organisation and team.

Education and Experience Requirements

We are looking for someone who is passionate about the role. You will possess:

a) Minimum 4 years' experience in compliance roles preferably within APRA-regulated entities.

b) Strong communication skills with a collaborative approach. An ability to interpret legal requirements and translate it to a language that the staff can understand and apply would be advantageous.

c) Good knowledge and experience of the legal and regulatory requirements relevant to Foresters e.g. APRA Prudential Standards, the Privacy Act, ASIC regulatory guides, AML/CTF Act, etc. Note – a legal background or degree is not required. However, it is desirable that you have been a Privacy Officer and/or AMLCTF Officer.

d) Experience, commitment and aptitude to optimise the use of our GRC System.

e) Proven ability to deliver change management.

f) Tertiary qualifications.

Key Responsibilities

1. Compliance Oversight:

a) Develop and manage the end-to-end process of regulatory and legislative changes within our GRC System.

b) Ensure Foresters is compliant with all obligations.

c) Develop, implement, and maintain compliance framework related documentation, such as policies and procedures.

d) Undertake regular risk-based monitoring and thematic reviews of compliance risks to ensure adherence with the compliance framework. Develop and execute a control testing program for compliance obligations.

a) Develop, implement and assist with Privacy Impact Assessments, Third Party Risk Assessments, Marketing Materials, PDS, and other documentation of importance.

b) Manage the incident and breach reporting policy and process.

c) Serve as the key point of contact for compliance-related queries from within the organisation and provide advice to key staff and management on a broad range of financial services or related areas. For example, assist or provide advice to Investor Services on handling complex complaints.

d) Collaborate with Line 1 manager/s in ensuring compliance by service providers.

3. Resilience

a) Assist the CRO to manage all types of business continuity and resilience plans.

b) Develop and maintain a testing planner and ensure that all testing exercises are done, and exceptions are escalated and remediated.

4. Reporting:

a) Assist CRO to prepare reports to risk owners, senior management and relevant committees. Present compliance and resilience reports to the Risk Forum and Audit and Compliance Committee.

b) Take a lead in active contributions in management's Risk Forum.

c) Assist CRO or other Accountable Persons to respond promptly to regulator enquiries, requests, reviews and interactions.

d) Preferably act as the Responsible Officer in reporting risk and compliance related mandated reports to regulators e.g. AUSTRAC, ASIC, APRA.

5. Learning and Development

a) Develop and maintain a pool of learning resources.

b) Provide and manage learning and training on compliance and risk related topics and raise awareness on compliance matters within the organisation.

Alignment to the values of Foresters and being member centric.

Being pragmatic and realistic.

Active engagement with people with a collaborative and problem-solving attitude.

Calm and composed manner especially in delivering more than one program of work at the same time.

One team approach – maintain independence as Line 2 but be attentive to emerging business needs and provide guidance and support.

Performance Metrics

Up to date business continuity plans and delivery of testing.

Timely and accurate flow of information and reports.

Accurate and relevant data in GRC System.

Improving risk culture through training and engagement.

Key Relationships

Internal - CEO, CRO, Financial Controller, Operational Compliance Manager in Line 1, Head of Growth, Board Risk Committee, Board Audit and Compliance Committee, Risk Forum.

External – Auditors, and service providers.

Applying for this role

1. CV, ideally not more than 2 pages, should contain at most your last 7 years of experience.

2. A cover letter, not more than 1 page, should highlight the soft skills you bring to this role.

END

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