Head of Risk & Compliance - Labamu Venture, SC Ventures

Job: Ventures Primary Location: Asia-Indonesia-Jakarta Schedule: Full-time Employee Status: Permanent Posting Date: 22/Sep/2023, 4:35:04 AM Unposting Date: Ongoing Job Title: Head - Risk and Compliance (HRC), Labamu About Labamu Our Purpose At Labamu, we believe that every small business can grow bigger & be more efficient. We can achieve this by digitising the sales processes of small businesses & providing embedded financing services.
Through these services, we intend to uplift participation in financial services for businesses of all sizes, level the playing field, and provide opportunities for more people and communities to contribute to, and participate in, economic prosperity. Our Values

Our values define the set of principles that guide our journey to achieve our purpose. At Labamu our values are:

1. Client Obsession We provide the most value possible for our ideal consumers. Not only does our company know who is using our platform and why they use it, and we go above and beyond to make the entire experience a positive one.
2. Fairness We must ensure fair outcomes for clients and communities. This means treating clients without bias or favour based on their demographics, that our services advance not disadvantage our clients, and that we fight bribery, corruption and financial crimes in all its forms. 3. Transparency We operate with clear rules and provide services that are clearly understood by our clients and their communities. There is no fine print. We do not engage in or support insider dealings. 4. Diversity Diversity in teams is critically important as it enhances the expanse, variety and depth of ideas we can collectively create, try and succeed or fail at. The more diverse views you get the more likely your ideas will succeed and the greater value it will add. 5. Respect We must provide a safe working environment which is inclusive and free from discrimination, exploitation, bullying and harassment. We treat our colleagues fairly and work together to deliver our purpose and values. Our Behaviours

Our behaviours – are how we deliver our purpose:

• Be righteous - Apply those words to how we serve our users. Be righteous and virtuous is about providing our users an unbiased access to services and financing, focusing on their needs, and giving them the best products and services that we can.

• Be better – Continuously improve and innovate. Innovation can happen anywhere and by anyone and should form part of our work every day.

• Be inclusive and collaborative – Always maintain respectful decorum with your colleagues, clients, and stakeholders. Ensure all feel welcomed and able to contribute.

The 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 (e.g., 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 (e.g., 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.