Compliance Officer Responsibilities Take Center Stage in Vietnam

In Vietnam, companies are increasingly relying on compliance officers to ensure seamless operations and adherence to regulatory requirements. According to industry experts, the responsibilities of a compliance officer in Vietnam are multifaceted and demanding.

Key Responsibilities

• Advising on setting up compliant operational processes that meet local regulations and best practices
• Collating regulatory reporting and presenting it to management and the board, providing regular updates on general compliance issues, trends, and challenges
• Recommending changes to current procedures or systems as needed
• Contributing to the Annual Compliance Plan and other relevant reports, ensuring they are in line with best practice and regulatory requirements
• Maintaining relationships with regulators and coordinating responses to inspections
• Monitoring compliance and meeting all regulatory deadlines

Expertise in Regulatory Matters

• Acting as a focal point for correspondence on regulatory matters
• Providing expert advice on anti-money laundering (AML) issues, including onboarding, know-your-customer (KYC), due diligence, and suspicious activity reporting
• Navigating the complex landscape of Vietnamese regulations

Requirements to Excel in this Role

• Minimum of five years of legal experience or compliance experience with a licensed corporation in Vietnam
• High levels of integrity
• Strong communication skills in both Japanese and English
• Preferably, cross-border international compliance experience
• Ability to work efficiently on diverse tasks

Desirable Experience

• Experience with local regulations such as the Financial Supervisory Commission (FSC) and the State Securities Commission (SSC) rules

With these qualifications and a deep understanding of Vietnamese regulatory requirements, compliance officers can play a vital role in ensuring the success of companies operating in Vietnam.