DEPUTY HEAD OF COMPLIANCE (1) – / RISK MANAGEMENT & COMPLIANCE
Job Scope
Oversee the Compliance Management (AML Compliance, Regulatory Compliance and Internal Compliance) Function and Responsible for:
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.
Ensure Compliance to Law, Regulations, Policies and Procedures
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
KEY RESPONSIBILITIES
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 Banking & Finance or Compliance Management or, related field 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 Banking & Finance or Compliance Management or related field 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 given priority
Documents required with application.
1. Curriculum Vitae (CV) / Resume,
2. Attested educational certificates,
3. National ID card copy,
4. Passport Size Photo
5. Police Report (validity less than 06 months)
Deadline:
Date: 22nd February 2025
Time: 14:30
Inquiries
Should you have any inquiries please send us an email to [email protected].
REMUNERATION
Competitive Salary
Performance-based bonus
Annual Increment
Health insurance for staff and direct dependents
Professional growth and development
Exclusive employee benefits on bank's products.
Please note that only shortlisted candidates will be contacted to attend interview.