Head of Compliance and Internal Control
To facilitate business and assist management by ensuring that the bank operate in accordance with (a) all regulatory and legal requirements and (b) all Group standards of conduct, so as to protect and enhance the reputation of the bank with their regulator and avoid
Promote the employees’ awareness by providing Compliance/ AML/CFT training courses to the Branch (es) staff and Senior Manager.
Review system changes and or enhancements of Central Banks returns to ensure that the Branch is in compliance with Central Banks policies.
Provide advice service to the Branch Management in relation to product services (policies and procedures) from Compliance & Internal Control perspective.
RSA, CSAs and KPCIs reviews unit responses on a rolling basis with spot checks and verify veracity and completeness of reporting.
Ensure implementation of Group Compliance/ Group Internal Audit / banking commission / external auditors’ recommendations.
Carry out the mandatory verifications and reviews required by Regulators/ Legal Authorities.
Ensure policies and procedures are regularly reviewed, updated with any new regulations and implemented, including Compliance manuals.
Review all critical reconciliations performed by Finance department and operations e.g. Suspense accounts and Sundry Accounts. Follow-up all outstanding entries/ differences.
Submit periodic reports to Group Compliance detailing cases of non-compliance to Central Banks’ regulations and statutory requirements.
Liaise with local Central bank whenever required, response on queries and communicate issues raised by them and follow up such issues until final resolution.
Coordinate between Regulator inspectors and Branch’s units/ departments to facilitate their mission.
Developing and maintaining the bank Cty AML/CTF policy in line with evolving statutory and regulatory obligations.
Supporting and co-ordinating management focus on the money laundering risk in individual business areas.
In consultation with management, determining and updating the money laundering risk-based approach and the risk assessment of the Bank’s customers, products and services.
Ensuring that the Bank’s risk management policies, risk assessment profile and their application are adequately documented.
Assisting management to develop and maintain an effective anti-money laundering and counter-terrorist financing compliance culture.
Establishing and maintaining appropriate risk-based monitoring processes that are proportionate to the scale, nature and complexity of the Bank’s operations.
Developing internal procedures in line with the requirements of the local Financial Regulator and legislation, Central Bank regulations, the bank Head Office policies and procedures, and international standards (such as FATF).
Representing the bank to all external agencies in the Country, and in any other third party enquiries in relation to money laundering prevention, investigation or compliance.
Preparing an annual money laundering report for senior management.
Undertaking independent monthly reviews of activity relating to selected (by the MLRO) high-risk accounts which are deemed to require additional monitoring over and above the standard reviews by the business. The results of the MLRO’s reviews are to be documented.
Awareness of any relevant sanctions, prohibition or advisory notices applicable to the bank and its business. Also as necessary advising management and relevant employees of the names of any individuals and institutions on the sanctions list.
Promptly responding to any request from a regulator and/or law enforcement agencies for information to which they are legally entitled.
8-10 years’ experience of control/audit procedures and knowledge of compliance in banking institution or regulatory agency preferably in compliance or internal audit function.
University graduate preferably with a Major in Finance, Law, Banking, Economics, Mathematics, or Business Administration (related field of study), Masters preferred
Professional qualifications such as CCO/CPA/CIA/CA.
Good oral and written communication skills (incl. report writing) in English.
Extensive Knowledge in the following areas;
Banking and IT applications.
Current regulations and financial instruments.
Bank accounting procedures
Banking products and services
Regulatory and tax matters.
Self-discipline, initiative, organizational skills & relations building skills.