Vanessa Ong

Experience

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  Commonwealth Bank

  Jan 2006 - Nov 2011

  I was responsible for reviewing and approving all marketing related material prior to issue for a range of products including deposit and transaction, credit, insurance and superannuation prior to issue products to ensure that the material complies with all applicable legislation (excluding taxation legislation), regulations, industry codes, guidelines and standards including:- Code of Banking Practice- National Credit Code- Competition and Consumer Act- ASIC Act- Privacy Act- Spam Act- Trademarks Act- Corporations Act.Marketing material includes television, radio and print advertisements and online advertisements such as web pages, video, social media, digital banner or tile advertisements and search engine marketing. It also includes product specific brochures, awards booklets, letters, forms, telemarketing scripts and presentations. Show less I was a member of Capital Management team and responsible for the management of the Operational Risk Capital Management framework and model, validating and refreshing Quantitative Risk Assessments and investigating anomalies and database management for the Operational Risk Adviser system. I was also responsible for the documentation of key Operational Risk policies and processes to ensure they are accurate, consistent and user-friendly. I was also responsible for preparing the monthly Group Operational Risk Issue Tracking reports for CEO which includes statistics, trend analysis and a Business Unit and Group wide view of all outstanding and overdue Internal Audit, External Audit, Self-identified and Regulatory issues. Show less I was a member of the Correspondent Bank Due Diligence team performing due diligence and risk assessments on current and potential Correspondent Banking relationships to ensure compliance with AML/CTF legislation and meet June 2009 deadline. This involved legal and media research and investigation utilising publicly available information, database resources and subscription search engines to conduct due diligence and risk analysis of key documentation and information to assess financial performance, reputation, AML policy and relevant legislation of correspondent banks of various jurisdictions. I was responsible for recommending accept or decline decisions for discussion with Head of AML and for identifying and escalating issues as appropriate. Show less I was responsible for the delivery of regulatory and compliance program for The Commonwealth Bank Group’s Functions (Financial Services, Marketing & Communications, Human Resources, Risk Management and Office of the CEO and Legal Services); providing advisory support to the Group Functions and reporting on group wide regulatory and compliance issues to the Executive Committee, Risk Committee and the CEO Risk forum. I provided a compliance and advisory service for internal clients and aim to build trusted relationships in providing advice and support to ensure that clients meet their legal and regulatory obligations and comply with group wide internal bank policy. This also involved problem solving and collaborative team work to achieve common goals. Show less

  • Marketing Compliance Manager

    May 2010 - Nov 2011

  • Operational Risk Advisor and Analyst

    Aug 2009 - Apr 2010

  • Anti-money Laundering Risk Advisor

    Jan 2009 - Jul 2009

  • Group Functions Compliance Manager

    Aug 2008 - Dec 2008

  • Product Compliance Manager

    Feb 2007 - Aug 2008

  • Retail Banking Services Graduate

    Jan 2006 - Jan 2007
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  Salvos Legal

  Nov 2011 - Mar 2012

  Graduate

  I was responsible for assisting with migration, family law and criminal matters with Salvos Legal Humanitarian and with property and commercial matters for Salvos Legal during my volunteer Practical Legal Training placement.My responsibilities included drafting letters to clients, service providers and government departments, drafting statement of claim and affidavit, filling out migration and Family Court forms, attending and preparing for client meetings, answering and making telephone enquiries, file and time management, drafting cost agreements, entering billable hours and generating bills, drafting terms and conditions, drafting deed of release, legal research, opening new files and file closure. Show less

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  Commonwealth Bank

  Sept 2012 - Oct 2012

  Marketing Compliance Manager

  I was responsible for reviewing and approving all marketing related material prior to issue for a range of products including deposit and transaction, credit, insurance and superannuation prior to issue products to ensure that the material complies with all applicable legislation (excluding taxation legislation), regulations, industry codes, guidelines and standards including:- Code of Banking Practice- National Credit Code- Competition and Consumer Act- ASIC Act- Privacy Act- Spam Act- Trademarks Act- Corporations Act.Marketing material includes television, radio and print advertisements and online advertisements such as web pages, video, social media, digital banner or tile advertisements and search engine marketing. It also includes product specific brochures, awards booklets, letters, forms, telemarketing scripts and presentations.I was also responsible for training new team members and process improvement initiatives. Show less

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  Westpac Group

  Nov 2013 - Nov 2014

  Product, Digital & Marketing Compliance Manager

  Responsibilities & Achievements:• Executed a comprehensive product lifecycle policy gap analysis across Product, Digital, and Marketing business units. Collaborated with stakeholders to address gaps, which resulted in enhanced end-to-end business processes• Delivered compliance advice to the Privacy project and implemented process improvements to strengthen and maintain first-line compliance accountability

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  Commonwealth Bank

  Nov 2014 - Oct 2016

  Retail Banking Services Compliance Advisor

  Responsibilities & Achievements:• Provided compliance advice and sign-off on product, training, and marketing materials for Retail Banking Services. Ensured adherence to the Code of Banking Practice, Corporations Act, ePayments Code, National Consumer Credit Protection Act, Privacy Act, Spam Act, ASIC Act, and ASIC Regulatory Guides• Oversaw the high-risk portfolio of Wealth Management products, including insurance, superannuation, share trading and financial planning• Led secretariat function for the Retail Distribution Risk Governance forum, which managed distribution risk Show less

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  Colonial First State

  Oct 2016 - Oct 2017

  Senior Manager Risk Management

  Responsibilities & Achievements:• Developed a technology risk dashboard and mapped end-to-end business processes with critical IT systems at CFS. This facilitated monitoring of key risk areas, assessing business impacts, and developing risk mitigation strategies.• Represented CFS in the Wealth Management User Developed Applications Project, which focussed on managing privacy risks and implementing data loss prevention measures• Quarterly risk profile reviews, Line 2 controls testing, issues and incident management and risk attestations Show less

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  Commonwealth Bank

  Oct 2017 - Feb 2020

  Senior Manager, Global Regulatory Change, Group Compliance

  Responsibilities:• Provided compliance advice and Line 2 oversight to business units during intense regulatory scrutiny, which included the Royal Commission and APRA inquiry into non-financial risk, effectively navigated high levels of change, enhanced risk culture and ensured adherence to regulatory requirements.• Worked with project teams and Business Units to ensure effective regulatory change implementation and embedment, including drafting regulatory obligations and controls• Board and Risk Committee reporting to ensure the Board and Executive management were informed of regulatory change project implementation progress and status• Monitored Global Advocacy's Regulatory pipeline to inform the team of key upcoming regulatory change that may require group-wide coordinationAchievements: • Led compliance approach for Design and Distribution Obligations (DDO) conduct risk reforms, from regulation exposure draft through to program implementation. Conducted a gap analysis, drafted Board Paper to secure program funding and resourcing• Developed regulatory obligations and controls for Open Banking, enhancing personalised customer communication and suitable product offerings• Performed a governance and policy gap analysis for Swap Dealer compliance, addressing US regulatory requirements, with findings presented to the regulator• Nominated for a Privacy Program secondment; identified control gaps and reported to the Chief Privacy Officer for prioritisation Show less

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  PwC Australia

  Mar 2020 - Dec 2023

  Responsibilities:• Built trusted relationships with clients and internal stakeholders to mobilise risk and regulatory consulting engagement teams to deliver high performance, industry leading best practice and develop a future engagement pipeline• Developing strategies for clients to respond to regulatory change, remediation or enforcement arising from legislative changes, regulator action or community expectations• Leading, coaching and mentoring junior staff members on engagements and a formal team leader role for a graduateAchievements:• Led a project team of 7 to deliver process and controls documentation for a major gaming client, met a critical regulatory deadline and enhanced risk and compliance maturity• Drafted compliance controls for a major gaming client, ensuring alignment with policy reforms and embedding best practices in the business.• Conducted a pro bono review of a Risk Management Framework for a large educational charity, provided pragmatic recommendations to maximise impact that utilised limited resources.• Developed recommendations on integrating customer vulnerability and financial hardship considerations throughout the product lifecycle for financial services clients, to address emerging risks and regulatory expectations.• Contributed to an ESG risk strategy for financial services clients for inclusion in emerging risks and recommended internal adherence to ASX corporate governance principles to disclose material ESG risk exposure to strengthen corporate and community trust Show less Responsibilities: • Monitored compliance with auditor independence regulations under the Corporations Act and US Securities and Exchange Act• Led a team of five auditors in the personal independence compliance testing area. • Line 1 Controls testing for personal independence team controlsAchievements: • Commenced role during the COVID-19 pandemic and quickly adapted to an online working from home environment, became a subject matter expert and developed trust as a leader• Managed independence clearances for partner candidates, reducing risk and supporting compliant partnership growth• Mentored and developed a peer Senior Manager, who succeeded in leading the team upon my transition to risk consulting• Designed and delivered on-demand personal independence compliance training, which improved compliance testing results and formed part of a regulator remediation plan Show less

  • Senior Manager- Risk & Regulation Consulting

    Oct 2022 - Dec 2023

  • Senior Manager- Regulation

    Mar 2020 - Oct 2022
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  Lokahi Foundation AUS

  Jan 2022 - now

  Board Observer/Advisor

  Achievements:• Develop and maintain the risk and compliance strategy, culture and framework • Assisted in the completion of Australian Charities and Not-for-profits Commission (ACNC) Self Audit and action plans and grant applications