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Head of Compliance

iQuest Consultants


Ref: OP236-108

Job description / Role

Head of Compliance - Malaysia

The Head of Compliance oversees the Risk and Compliance Program in Malaysia, functioning as an independent and objective body that reviews and evaluates local risk and compliance issues/concerns within the Company. The position ensures that the Board of Directors, senior management and employees are in compliance with the rules and regulations of Bank Negara Malaysia, that company policies and procedures are being followed, and that behavior in the Company meets the Business Code of Conduct. They are also responsible for monitoring day to day execution and implementation of AML/CFT regulations, guidelines and directives issued by Bank Negara Malaysia.

- Complement/Assist Head Office to develop, initiate, maintain and revise policies and procedures for the general operation of the Risk and Compliance Program and its related activities to prevent illegal, unethical, or improper conduct. Manage the day-to-day operation of the Program in Company.
- Complement/Assist with the review and update of the Business Code of Conduct to ensure continuing currency and relevance in providing guidance to management and employees.
- Identify potential areas of compliance vulnerability and risk, and develop/implement corrective action plans for resolution of problematic issues and provide general guidance on how to avoid or deal with similar situations in the future.
- Respond to alleged violations of rules, regulations, policies, procedures and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Assume HO has these in place.
- Act as an independent review and evaluation body to ensure that compliance issues/concerns within the Company are being appropriately evaluated, investigated and resolved.
- Monitor, and as necessary, coordinate compliance activities of other departments to remain abreast of the status of all compliance activities and to identify trends.
- Provide reports on a regular basis, and as requested, to keep the senior management and Board of Directors informed of Malaysian operations and progress of compliance efforts.
- Ensure proper and prompt reporting of violations or potential violations to BNM.
- Establish and maintain an effective compliance communication program.
- Monitor the level of AML compliance within the branches in Malaysia and identify any additional training needs.
- Point of contact for all AML related queries and STRs and reporting to BNM as required.
- Preparing annual reports on AML Compliance in the Company to the Board of Directors.
- Ensure the Company complies with the Risk and Compliance Program and its related activities.
- Ensure the Company implements all the AML/CFT policies and regulations stipulated by BNM.
- Ensure the appropriate AML/CFT procedures, including customer acceptance policy, customer due diligence, record-keeping, ongoing monitoring, reporting of suspicious transactions and combating the financing of terrorism, are implemented effectively within the branches and identify any additional training needs.

- Monitor and assess the Risk and Compliance Program and its related activities on a continuing basis to ensure that they are effective and adequate to address any change in money laundering and financing of terrorism trends.
- Ensure the channel of communication from the Sales Consultants to the Branch Managers and subsequently, to the Head of Compliance is secured and that information is kept confidential.
- Conduct awareness and training programs, appropriate to their level of responsibilities, for all staff to make them aware of the Company’s Risk and Compliance Program, including policies, control mechanisms and the channel of reporting, supplemented with refresher courses for staff, with special emphasis for those employees, who are exposed to higher risk of AML/CFT.
- Update staff on the latest AML/CFT developments such as products or transaction modes, which are susceptible to the risk of money laundering and financing of terrorism.
- Evaluate appropriately internally generated suspicious transaction reports by branches before submission to Bank Negara Malaysia.
- Identify and evaluate money laundering and financing of terrorism risks associated with new products or services or arising from the Company’s operational changes, including the introduction of new technology and processes and take appropriate measures to prevent its misuse for AML/CFT activities.
- Be aware of latest developments in AML/CFT techniques and measures undertaken by the industry to address them.
- Make available the Company’s documented measures on its Risk and Compliance Program to all staff.
- Create a culture of awareness of AML/CFT among all levels of staff.


- A Bachelor’s degree required; Master’s preferred
- Minimum of 10 years’ experience in compliance, risk, audit or other related areas in the financial services industry
- AML Diploma or equivalent; CAMS preferred
- In depth knowledge of foreign exchange industry
- In depth knowledge of regulatory compliance requirements and risk management principles

Other Skills:
- Strong writing and verbal skills
- Advanced knowledge of MS Office
- High attention to detail
- Strict work ethics
- Excellent research, problem-solving and negotiation skills

Also please include the following details in your uploaded CV:
-Total Years of experience:
- Qualification
- Date of birth:

About the Company

iQuest Consultants are the biggest IT, Telecom, Manufacturing and Engineering and BFSI recruiters in West India, started in 2000, working for clients like Deloitte, IBM, KPMG, E&Y, Goldman Sachs, RBS, Standard Chartered, Tech Mahindra, Cable & Wireless, Samsung, Nokia etc. We work aggressively at Middle, Senior and Top Management levels for the Manufacturing and Engineering Companies like L&T, Hindalco, Finolex, Thermax, M&M, John Deere, Mercedes Benz and many more. Our overseas division works actively for some of the very reputed names in the Gulf like Al Moosa, Al Aqili, BEC, Technip, Al Abbas, ETA, Al Basti, ArchGroup, etc.

Our different teams specialize in different industry verticals and technologies. The Executive Search team works only for VP, Directors and CXO levels across the globe. With 150 recruitment consultants in 9 offices in 6 different cities in India we have a pan India reach and can search out the best talent for our clients from anywhere in the country or abroad.

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