Closing: Sep 27, 2023
This position has expiredPublished: Sep 18, 2023 (13 days ago)
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Job Summary
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- Manage the day-to-day delivery of the AML/CFT compliance monitoring function, including providing strategic leadership within the function and representing Compliance Department in engagements with partners and key stakeholders within the Bank.
- Provide advice and technical expertise to support effective strategic and business planning.
- Contribute to the development of the AML/CFT function strategy and outcomes, in line with the Bank’s overall strategy.
- Support to establish, review, implement and maintain effective Compliance and Anti-Money Laundering policies, procedures, systems, and controls in compliance with applicable Compliance and AML/CFT legislations/regulations and the Bank’s KYC/AML standards and in line with the best practices.
- Ensure that customers’ accounts are monitored regularly to detect suspicious activity and transactions and examine compliance policies and processes to verify that AML/CFT/KYC-related regulatory requirements are included for meticulous compliance.
- Undertake risk assessment reviews of business units including analyzing monthly reports and other documentation to assess compliance to the AML/CFT Act and report on non-compliance issues to the Head of Compliance.
- Establish and maintain appropriate AML/CFT training programme to create awareness and uphold employees understanding on Anti-Money Laundering & combating financing of terrorism laws, regulations, policies and procedures.
- Perform customer due diligence checks (KYC) on new and on-going clients as per the Bank’s requirements and in accordance with the Bank -wide AML standards.
- Identity/detect and report suspicious transactions and produce compliance monitoring reports with appropriate recommendations.
- Acting as the point of contact to receive internal AML Suspicious Transaction Reports (SARs) from Employees. Taking appropriate action following the receipt of an internal Suspicious Transaction Report (such as circumstances review, investigation, determination and making (if appropriate) the external suspicious transaction report).
- Ensuring timely and accurate reporting of the Suspicious Activity Report (SAR) to Financial Reporting Centre.
- Keep pace with developments in AML/CFT laws and regulations, trends, techniques, and update indicators of money laundering or terrorist financing.
- Supporting in new product risk assessment and new business initiatives, to ensure compliance issues identified are appropriately addressed and suitable remedial measures put in place before they are rolled out.
- Ensure all compliance owned registers are kept up to date e.g. PEP register, complaints, gifts and entertainment, sanctions, breaches etc.
- Ensure that all regulatory changes are reviewed, and the impact notified to the businesses through the Head of Compliance.
- Support in liaison and collaboration with the internal departments, regulators authorities and external services providers to resolve compliance issues.
- Recommend any changes to operating procedures as required in light of regulation or procedural changes and when required provide input into the development of new operating procedures.
- Ensure and understand end-to-end AML/CFT program for effective implementation and monitoring.
- Assume other Compliance tasks and responsibilities as directed by the Head of Compliance & Ethics.
Responsibilities
- Manage the day-to-day delivery of the AML/CFT compliance monitoring function, including providing strategic leadership within the function and representing Compliance Department in engagements with partners and key stakeholders within the Bank.
- Provide advice and technical expertise to support effective strategic and business planning.
- Contribute to the development of the AML/CFT function strategy and outcomes, in line with the Bank’s overall strategy.
- Support to establish, review, implement and maintain effective Compliance and Anti-Money Laundering policies, procedures, systems, and controls in compliance with applicable Compliance and AML/CFT legislations/regulations and the Bank’s KYC/AML standards and in line with the best practices.
- Ensure that customers’ accounts are monitored regularly to detect suspicious activity and transactions and examine compliance policies and processes to verify that AML/CFT/KYC-related regulatory requirements are included for meticulous compliance.
- Undertake risk assessment reviews of business units including analyzing monthly reports and other documentation to assess compliance to the AML/CFT Act and report on non-compliance issues to the Head of Compliance.
- Establish and maintain appropriate AML/CFT training programme to create awareness and uphold employees understanding on Anti-Money Laundering & combating financing of terrorism laws, regulations, policies and procedures.
- Perform customer due diligence checks (KYC) on new and on-going clients as per the Bank’s requirements and in accordance with the Bank -wide AML standards.
- Identity/detect and report suspicious transactions and produce compliance monitoring reports with appropriate recommendations.
- Acting as the point of contact to receive internal AML Suspicious Transaction Reports (SARs) from Employees. Taking appropriate action following the receipt of an internal Suspicious Transaction Report (such as circumstances review, investigation, determination and making (if appropriate) the external suspicious transaction report).
- Ensuring timely and accurate reporting of the Suspicious Activity Report (SAR) to Financial Reporting Centre.
- Keep pace with developments in AML/CFT laws and regulations, trends, techniques, and update indicators of money laundering or terrorist financing.
- Supporting in new product risk assessment and new business initiatives, to ensure compliance issues identified are appropriately addressed and suitable remedial measures put in place before they are rolled out.
- Ensure all compliance owned registers are kept up to date e.g. PEP register, complaints, gifts and entertainment, sanctions, breaches etc.
- Ensure that all regulatory changes are reviewed, and the impact notified to the businesses through the Head of Compliance.
- Support in liaison and collaboration with the internal departments, regulators authorities and external services providers to resolve compliance issues.
- Recommend any changes to operating procedures as required in light of regulation or procedural changes and when required provide input into the development of new operating procedures.
- Ensure and understand end-to-end AML/CFT program for effective implementation and monitoring.
- Assume other Compliance tasks and responsibilities as directed by the Head of Compliance & Ethics.
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