Head Of Risk & Compliance - Labamu Venture, Sc Ventures

Role Responsibilities

This is an opportunity to join Labamu as a Head - Risk and Compliance (HRC) based in Jakarta, Indonesia . Our office is located in Tangerang.

As a member of the Leadership Team, the HRC will have responsibility and oversight of the Corporate Governance policies and structures for the business.

The role will lead and be accountable for all group initiatives for compliance, risk, financial crime and legal.

In addition to reporting to the CEO, the HRC will have a dotted responsibility line to the Risk sub-committee of the board overseeing Audit, Risk and Compliance matters.

The role oversees individual, yet intertwined, functions with the detailed expectations and duties of each role outlined below.

Compliance

• Oversee and manage the regulatory compliance framework for the Company, enabling the efficient and effective governance of the company.
• Liaise with regulators for licensing and regulatory matters, maintaining an effective and open relationship with the regulators and managing all regulatory inquiries and reviews, including reporting and notification matters.
• Design and ensure sufficient compliance structure and resources to ensure compliance with local regulatory requirements / expectation, and support business growth and expansion in existing and new markets.
• Align with the industry leading practices of the Financial Services or Fintech(s) to meet the regulatory expectation.
• Develop and formulate Labamu’ s compliance policies and procedures to ensure compliance with applicable laws and ensure effective implementation of the program across the Company.
• Proactively work and cooperate with all other functions and key stakeholders to ensure that the Company’s objectives are achieved, and regulatory compliance risks are mitigated.
• Conduct regulatory research, track new or revised regulations and implement internal policies, procedures and processes to ensure ongoing compliance with all applicable laws and regulations.
• Advise and support the business on all compliance matters and ensure the business is in alignment with license requirements globally, and in compliance with applicable laws and regulations.
• Conduct assessments and reviews on the adequacy and relevance of regulatory and compliance strategies, policies and frameworks, and oversee enhancements to address control deficiencies.
• Conduct investigations into potential non-compliance incidents
• Implement and conduct regular compliance training programs on an ongoing basis to educate staff on the relevant regulatory developments, compliance policies and procedures.
• Timely and proactive escalation of issues resulting from compliance monitoring, resolution tracking and periodic management / board reporting on compliance risks.

Risk

• Develop and maintain an Enterprise Risk Management Framework, build, and promote a healthy business risk culture and own constant challenge of culture and processes to ensure the business operates inside the framework.
• Lead and oversee the periodic group enterprise risk assessment exercise, and formulation of the group risk appetite statement.
• Own, maintain, and implement the Risk Management Framework which covers end-to-end risk identification, assessment, monitoring, reporting and assurance.
• Establish, maintain and implement risk strategies, policies, processes, guidelines, performance metrics and monitoring systems to detect and prevent potential abuse and vulnerabilities across principal risk types (, operational risk, reputational risk, IT & ICS risk, sovereign risk, market Risk & ALM, compliance & FCC, model governance / validation, macro-economic implications, etc)
• Embed top risks in metrics and ensure those risks are managed within the business.
• Embed a culture of effective Risk Management within the day-to-day operation of the business.
• Monitoring to ensure business activities and operations (and going forward global entities within the group) are operating within acceptable risk tolerance.
• Deliver effective governance’; capability to educate and challenge colleagues effectively; and willingness to work in an open and cooperative manner with all.
• Assist in the implementation of Risk profiling, incident management including registration of issues and events, managing, and delivering of Risk incident reports via the automation of Risk management reporting tool.
• Support and coordinate periodic risk and compliance related reports, assessments, budgeting and forecast processes including monitoring of Risks against risk appetite limits and thresholds.

Executive Leadership

• Manage performance, wellbeing, and engagement by creating a culture of achievement and satisfaction.
• Leadership, direction, coaching, mentoring, and support is provided to team members based on individual needs.
• All team members have a current job description outlining the key responsibility areas of their role and how it will be measured.
• All team members must have the skills and experience to perform individual roles or have a development plan in place to achieve set objectives.
• The company values and behaviours are consistently promoted and reinforced.
• A safe working environment is provided for all employees and all OH&S issues are proactively managed.
• Influence and gain buy-in from the team and other relevant stakeholders (, Board, Auditors, Investors, Rating Agencies, etc)
• Support management in handling issues with internal auditors and / or external auditors

Key Stakeholders

• Leadership Team
• External Regulators

Experience

• 12-15 years+ of experience in risk and compliance in financial services specific experience of Fintech and the payments industry would be an advantage.
• Strong general experience and expertise within risk management, and experience in digital-related risks (technology risk, information & cyber security (ICS) risk, resilience)
• Knowledge of key regulatory and supervisory frameworks in markets the Company operates or plans to operate in
• Strong stakeholder management, communication and influencing skills.

Skills and behaviours

• Be able to diagnose problems quickly and have foresight into potential issues.
• Leadership competency in managing a sizable matrixed team, in an environment of shifting priorities, and constant technological and regulatory changes.
• In-depth understanding of the business support functions including operations, technology, people & culture, finance, and risk
• Knowledgeable in data analysis, and experience in designing and implementing the operations strategy.
• Genuine interest in the fintech world, keep abreast of the latest market trend, embrace the fast-changing environment.
• Setting the agenda in operational excellence
• Prior experience in executive level company management in global roles, inspiring and leading diverse teams

The role requires both attention to detail and a thirst for knowledge, an ability to understand complexity and translate it into easily understood language for colleagues.

The role also requires occasional travel to other markets to meet regulators, attend relevant educational events, and educate and monitor colleagues compliance with the frameworks and policies the HRC is responsible.