About Company
Westpac is Australia’s first bank and first company, with a history spanning over 200 years. As one of Australia’s ‘Big Four’ banks, we offer a comprehensive range of banking and financial services including consumer, business, and institutional banking, wealth management, and insurance. At Westpac, we are committed to helping our customers, communities, and people prosper. We foster a culture of integrity, innovation, and customer focus, empowering our employees to make a real difference. Join us and be part of a team dedicated to building a brighter future.
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Job Description
We are seeking an experienced and highly motivated Compliance Officer to join our dedicated Risk & Compliance team in Sydney. In this critical role, you will play a pivotal part in upholding Westpac’s commitment to regulatory excellence and maintaining our reputation as a trusted financial institution. As a Compliance Officer, you will be instrumental in ensuring that our business operations, products, and services adhere strictly to an evolving landscape of Australian financial services laws, regulations, and internal policies.
Your responsibilities will span across various compliance domains, including but not limited to Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF), consumer protection, privacy, and prudential standards set by ASIC and APRA. You will be at the forefront of identifying, assessing, and mitigating compliance risks, providing expert advice to business units, and contributing to the development and implementation of robust compliance frameworks. This role offers an exceptional opportunity to influence compliance strategy, engage with senior stakeholders, and contribute directly to the bank’s ethical and legal standing. The ideal candidate will possess a deep understanding of the Australian banking regulatory environment, coupled with exceptional analytical and communication skills to navigate complex issues and drive effective compliance solutions. Join Westpac and contribute to a secure and compliant banking future.
Key Responsibilities
- Monitor, interpret, and advise on new and evolving regulatory requirements (e.g., ASIC, APRA, AML/CTF Act, Privacy Act).
- Conduct compliance risk assessments, identify control deficiencies, and recommend appropriate remediation actions.
- Develop, review, and update compliance policies, procedures, and guidelines.
- Provide expert compliance advice and guidance to business units on product development, operational changes, and customer interactions.
- Oversee and manage compliance training programs for employees.
- Investigate and respond to compliance breaches or incidents, ensuring timely and effective resolution.
- Prepare comprehensive compliance reports for senior management and regulatory bodies.
- Participate in regulatory examinations and audits.
- Collaborate with internal audit, legal, and risk management teams to ensure a cohesive approach to governance.
Required Skills
- Minimum 4 years of experience in a compliance role within the banking or financial services sector.
- In-depth knowledge of Australian financial services legislation and regulatory frameworks (e.g., Corporations Act, ASIC Act, APRA prudential standards, AML/CTF Act).
- Demonstrated ability to interpret complex regulations and apply them to business operations.
- Strong analytical, problem-solving, and decision-making abilities.
- Excellent written and verbal communication skills, with the ability to articulate complex compliance concepts clearly.
- Proficiency in risk assessment methodologies and control frameworks.
- High level of integrity, ethical conduct, and attention to detail.
Preferred Qualifications
- Bachelor's degree in Law, Commerce, Finance, or a related field.
- Professional certifications in compliance, risk management, or governance (e.g., CAMS, GRC related certifications).
- Experience with compliance management systems and tools.
- Postgraduate qualifications in a relevant discipline.
- Experience in a large, complex financial institution with diverse business lines.
Perks & Benefits
- Competitive salary and performance-based bonuses.
- Comprehensive health and wellness programs.
- Generous superannuation contributions.
- Flexible work arrangements.
- Access to a wide range of learning and development opportunities.
- Employee banking benefits.
- Parental leave and family support programs.
- Community involvement and volunteering opportunities.
How to Apply
Interested candidates are invited to submit their application, including a cover letter and resume, by clicking on the application link below. Please highlight your relevant experience and qualifications in your application.
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