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Job Summary
Under the direct supervision of the Assistant Chief Compliance Officer (ACCO), the Senior Regulatory and Compliance Risk Officer ("SRCRO") is a leader in identifying, assessing, and mitigating regulatory and compliance risks across the organization. This role is primarily responsible for developing and implementing the regulatory and compliance risk management framework, overseeing financial crime prevention, and managing the Know Your Customer (KYC) and due diligence programs, and reporting to the Assistant Chief Compliance Officer. The SRCRO will be the subject matter expert on regulatory and compliance risk, providing guidance and analysis to ensure the company operates within its risk appetite and adheres to all regulatory requirements. In addition, develops and implements compliance-related policies and procedures, and supports compliance audits. Furthermore, the SRCRO ensures contract compliance, develops and delivers training programs to enhance compliance awareness, and promotes a culture of compliance within the organization. This position requires close collaboration with the compliance team, other business units, and the MPRL E&P Executive Management to embed a proactive, risk-based compliance culture throughout MPRL E&P.
Major Duties and Responsibilities
1.Regulatory Compliance Oversight
• Monitor, interpret, and assess new and existing regulatory developments relevant to MPRL E&P’s operations.
• Evaluate the impact of regulatory changes on company operations, projects, and compliance obligations.
• Develop and recommend strategies, policies, and procedures to ensure ongoing compliance with applicable laws, regulations, permits, and license conditions.
2.Regulatory and Compliance Risk Management
• Identify, assess, and prioritize regulatory and compliance risks associated with operational activities, projects, and new business initiatives.
• Develop and implement risk mitigation strategies, controls, and monitoring mechanism to minimize regulatory and compliance risks.
• Conduct or coordinate regular risk assessments and compliance audits to evaluate adherence to internal policies, procedures, and external regulations.
• Draft, maintain, and implement the framework for regulatory and compliance risk management.
• Understand that regulatory risk is the risk of change in laws or regulations negatively impacting the business. Recognize that compliance risk is the risk of breaching laws or regulations due to inadequate controls, negligence, or human error.
• Updated on regulatory and compliance risk management best practices, standards, and industry trends through continuous education and professional development.
• Facilitate knowledge sharing among Compliance Department team members and across the organization regarding regulatory and compliance risk management strategies.
3.Financial Crime Prevention
• Oversee the Financial Crime Section responsible for implementing the policies and procedures to protect theft, fraud, deception, blackmail, AML, CFT and ABC matters.
• Ensure compliance with applicable regulatory requirements and industry standards related to financial crime prevention and reporting.
4.Know Your Customer (KYC) and Due Diligence Program Management
• Develop, implement, and continuously improve the company-wide KYC and Due Diligence framework, including all related policies, procedures, and documentation standards.
• Oversee the end-to-end due diligence process for all third parties (customers, vendors, partners, etc.), including conducting enhanced due diligence for high-risk relationships in accordance with internal policies and regulatory requirements.
• Review and analyze due diligence findings to identify key risks and opportunities, providing clear recommendations to management and relevant departments on appropriate risk mitigation strategies and action plans.
• Coordinate with Legal, Finance, Operations, and other internal teams to ensure a comprehensive response to due diligence findings and provide ongoing training and guidance to employees to ensure a consistent and compliant approach across the organization.
• Ensure the entire due diligence program complies with all applicable laws and regulations, including KYC, anti-money laundering (AML), and anti-bribery and corruption (ABC) requirements.
Cross-Functional Duties - Collaborate with the Senior Legal and Compliance Officer on:
1. Providing Expert Legal Advice
• Provide expert legal advice to management, employees, and other stakeholders on various legal matters, including applicable laws, contracts, intellectual property, data protection, and corporate governance.
2. Compliance Guidance and Oversight: Policy Creation and Implementation
• Preparation, review, and amendment of key compliance documents, including the Effective Compliance Program, Annual Compliance Work Plan, and Code of Conduct, and compliance related Policies and Procedures.
• Supervises subordinates and support ACCO regarding preparation, implementation and operating retaliation-free reporting channels, including an anonymous reporting system available to all employees, consultants, contractors and other personnel related to MPRL E&P's business.
• Advises / supports regarding conducting investigation(s) and the follow-up resolution to investigations (if any), and other issues generated by the compliance program, including development of corrective action plans, on an as-needed basis.
• Supervises for maintaining and keep updating enacted new laws including amendments of laws, rules, regulations and notifications, and observing Myanmar Gazettes and keep all stakeholders informed as required.
3. Audit Support
• Supervise/support for arranging to conduct routine monitoring and auditing of organizational transactions, business risks, controls and behaviours as per prescribed schedule whether compliance with legal, contractual and organizational policies & procedures.
• Responds to inquiries from the MPRL E&P’s auditors, regulators, and corporate parents on compliance-related issues.
4. Contractual Matters
• Reviewing contracts with related governmental department(s) and vendors/ suppliers/ contractors/service providers for respective assets of MPRL E&P and providing legal opinion/advice on an as-needed basis.
• Provide legal opinions and advice on contractual matters, ensuring alignment with regulatory requirements and organizational policies.
• Communicates and deals with outside legal firm for legal opinion/advice on an as-needed basis upon the Executive Management's assignment(s) and approval, make appropriate review, and submit executive summary with relevant recommendations to the Executive Management regarding legal compliance issues.
5. Capacity Building
• Capacity building and keeping compliance related knowledge by participating in educational opportunities, reading and studying professional publications/references through website, reference books and appropriate ways and means.
• Sharing knowledge/skills/experience related with legal/legislation among team members of Compliance Department.
• Supervises monitoring and tracking the day-to-day compliance activities/data of the organization and make sure proper record keeping.
6. Training and Awareness
• Prepare required tools and training materials including but not limited to presentation slides, pre & post questionnaires, evaluation form etc. for compliance related education, communication and awareness trainings/workshops.
Periodically, the employee may be expected to perform assigned duties and tasks not covered in his job description as well as to provide support to other departments when necessary.