Oversee the Compliance Management (AML Compliance, Regulatory Compliance and Internal Compliance) Function and Responsible to
· ensure compliance with the regulations for prevention of Money Laundering & Financing for Terrorism and help implement the internal policies and procedures for this purpose, as may be devised from time to time.
This role will also responsible for assisting Compliance Officer in creating a culture of fullest compliance to the relevant regulations and MIB’s policies at all times
Supervise the monitoring the filing of Threshold Transaction Reports and the analysis for suspicious activities or patters.
Plan & undertake AML compliance reviews of the required functions of the bank to test the level of compliance of these areas with MIB's AML/CFT policies and procedures.
Supervise the transaction monitoring process of the bank and take the necessary actions.
Detect, identify, investigate any suspicious account/transaction and compile Suspicious Transaction Report (STR) for submission to Financial Intelligence Unit (FIU) of MMA and respond to FIU, MMA queries if any.
Monitor responses to all queries raised by the Financial Intelligence Unit in relations to any suspicious activity or account.
To keep track of time-to-time changes in the AML/CFT Act of the country, MMA regulations and keep Compliance Officer and management of the Bank informed of these changes.
Conduct AML Enterprise Wide Risk Assessment to ensure that the AML Risks of the bank are within the risk tolerance limits.
Undertake due diligence of all correspondent banking relationships.
Ensure completion of Regular reports to Management and Board/Board Committee within the deadline assigned and ensure that all relevant data is presented accurately.
Conduct AML/CFT training and awareness sessions as required by regulations and the internal policies.
Monitor, assess, and interpret all relevant laws, regulations, and guidelines to ensure that bank remains compliant at all times.
Review and conduct assessment on new products/services, policies, and procedures to ensure compliance with the relevant laws / regulations.
Stay updated on regulatory requirements and communicate any changes or updates to relevant board committee, senior management, and relevant stakeholders within the bank.
Develop and maintain comprehensive policies, procedures, and internal controls to ensure compliance with applicable regulations.
Work collaboratively with business units to ensure that policies and procedures are practical, effective, and aligned with the relevant laws/regulations.
Report findings to relevant board committee/senior management and recommend remedial actions as necessary.
Ensure timely and accurate internal and external regulatory reporting.
Adopt a proactive approach to identify and address emerging compliance risks and regulatory challenges.
Create awareness across the Bank pertaining to regulatory requirements and its responsibilities for bank-wide compliance.
Effectively communicates emerging and/or changing regulatory requirements and related control opportunities and enhancements to Senior Management.
REQUIREMENTS
Master’s Degree in AML Compliance, Regulatory Compliance or Compliance Management with Minimum 03 years of work experience in a similar field, with 1 years of work experience in managerial position or similar capacity OR,
Bachelor’s Degree in AML Compliance, Regulatory Compliance or Compliance Management with minimum 05 years of work experience in a similar field with 2 years of work experience in managerial position or similar capacity
Candidates with Professional Certifications in the area of the AML/CFT and/or Regulatory Compliance Management and/or Compliance Management will be give priority.
Proficient in Microsoft Office Suite (Word, Excel, PowerPoint, Visio) will be an added advantage.
Fluency in Oral and Written Communication
Strong organizational and multi-tasking skills with demonstrated ability to manage expectations and deliver results.
High level of professionalism, self-motivation, and sense of urgency
Strong team player, self-starter, must be flexible and able to quickly adapt to change.
Capacity to work with minimum supervision while performing duties.
Capacity to lead and manage a team.