Samsudin Samsuri: Achieving Compliance Excellence in the Banking Sector

Samsudin Samsuri: Achieving Compliance Excellence in the Banking Sector

Samsudin Samsuri , Chief Compliance Officer

Samsudin Samsuri

Chief Compliance Officer

Reformation in regulations has reshaped the modern banking sector, placing unprecedent­ed demands on maintaining regulatory compliance. As the volume of regulations reaches new heights in the fight against financial crimes and fraud, the role of a Chief Compliance Officer has become paramount. It re­quires not only core skills but also the ability to lead from the front and gain the respect of peers in the same des­ignation band.

In alignment with top-notch busi­ness establishments, the role of a Chief Compliance Officer necessitates a unique set of characteristics. The individual should possess the capac­ity to work alongside business lead­ers, understanding their goals, and enabling their achievement. Transpar­ency is key, as is a comprehensive un­derstanding of the regulatory environ­ment, including the implementation of new reforms and their alignment with the company's objectives.

We had the privilege of an exclu­sive conversation with Samsudin Sam­suri, the esteemed Chief Compliance Officer of Bank Simpanan Nasional.

What is the motivation that fuels your daily routines?

There are three fundamental motivations that fuel my passion and dedication. Firstly, I have an unwavering passion for the intricacies of financial crime compliance and fraud investigation. This captivating and ever-evolving field continuously piques my interest, stimulating my mind with its challenges. Every day brings new experiences that demand critical thinking and strategic planning.

Secondly, accountability holds immense signifi­cance in my role. As a leader, I am acutely aware of the responsibility to uphold the integrity of the bank, ensuring its smooth operation while avoiding scru­tiny or penalties from regulatory bodies.

Lastly, fostering a sense of responsibility drives me to nurture and cultivate a new generation of compli­ance officers in the industry, instilling them with the right mindset. I firmly believe that compliance should be an enabler rather than a showstopper. By guiding others to embrace this perspective, I aim to contribute to the growth and development of the industry as a whole.

Cultivate passion, practice patience, embrace accountability & responsibility, & commit to continuous learning. Let your journey explore new frontiers, making meaningful contributions in the financial institutions industry while ensuring that compliance acts as a powerful catalyst for progress

How has been your path to success and what is your success mantra?

My path to success has been shaped by a belief that challenges build resilience. I believe that what does not break me builds me. I have grown and developed, harnessing this self-motivated approach to propel myself forward. My personal mantra for success revolves around an unwavering commitment to continuous learning and persistent effort. I firmly believe that true failure only exists when one stops learning and striving for improvement.

Tell us about your leadership approach.

My leadership philosophy revolves around empower­ment and guidance. I firmly believe in unlocking the potential of every team member, allowing them to plan and execute their strategies. As a leader, I pro­vide clear direction and expectations while offering valuable support to foster an environment of excel­lence.

Developing the competencies of our team mem­bers is a top priority for me. I understand that invest­ing in their growth is vital for the overall success of the organization. By providing learning opportunities and fostering a culture of continuous improvement, we enhance individual performance and strengthen the capabilities of our organization. This, in turn, builds the trust and support of our stakeholders.

Creating value lies at the core of my leadership approach. I recognize and nurture the value within each individual, aligning their contributions with their performance and competencies. Our team works collectively towards the organization's goals, generating value, while continually striving to exceed customer expectations as a financial institution.

In summary, my current leadership approach is centered on empowering individuals, fostering growth, and generating value. By recognizing the worth and providing support to our team members, we establish a solid foundation for success, benefiting both the individuals within Bank Simpanan Nasional and our valued customers. This aspect holds immense significance as we pursue strategic growth alongside the Bank, actively contributing to the accomplishment of its diverse mandated goals and aspirations.

What is the future destination you are heading towards?

I will continue to grow strategically with the Bank, helping the Bank achieve its various mandated goals and aspirations through more strategic roles. I aspire to take on larger and more impactful responsibilities that allow me to leverage the valuable experience and diverse exposure I have gained throughout my journey. Drawing from my background as a regulator, consultant, and compliance officer in commercial banks, I aim to apply my expertise to drive significant growth and success within the organizations I serve.

With a strong focus on compliance, I believe it is crucial to embrace greater responsibilities that enable me to make a substantial impact. My ultimate goal is to continue making meaningful contributions to the industry and ensuring that compliance remains a catalyst for progress.

What is that advice that you'd like to give to the upcoming leaders?

To the upcoming leaders, my advice is to cultivate pas­sion, practice patience, embrace accountability, and responsibility, and commit to continuous learning. Passion serves as the driving force behind extraordi­nary achievements, fueling dedication and inspiring others. Patience cultivates thoughtful decision-mak­ing and resilience in the face of challenges. Account­ability forms a cornerstone, fostering trust and integ­rity among team members. Embracing responsibility allows leaders to make a lasting impact on their teams and organizations. Lastly, a commitment to continu­ous learning fuels growth and innovation, keeping leaders ahead of industry trends.

Samsudin Samsuri, Chief Compliance Officer, Bank Simpanan Nasional

Starting as an Auditor at KPMG, Samsudin quickly gained valuable insights before transitioning to the Central Bank of Malaysia, where he served as a regulator for over a decade. His passion for the field led him to join the financial institutions sector, and in 2018, he became an Associate Partner at Ernst & Young, spearheading risk management and compliance efforts. With extensive experience and expertise, he has held key positions in renowned institutions, including AMBANK Group, United Overseas Bank (Malaysia) Bhd, Citigroup, Scope International (M) Sdn Bhd, and the Central Bank of Malaysia.

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