A prominent Retail Bank is seeking to appoint a Head of Compliance-Middle East
JOB PURPOSE
Summarise in one statement why your job exists; and how it contributes to the overall mission/objective of the organisation.
Supervision of Compliance & Control functions across Middle East Countries, to ensure that bank’s policies, procedures and relevant laws and regulatory regulations are complied in letter & spirit to minimize operational, legal & regulatory risks.
EXPECTED END RESULTS
• Bank’s policies, procedures and processes are in line with the regulatory requirements.
-Review policies, procedures and processes and recommend required changes if any to align them with the local regulatory requirements.
-Periodical branch visits.
• KYC/AML laws and regulations are complied with.
-Obtain certification from compliance Mangers on KYC/AML implementation. Conduct review of reported suspicious transactions and report to the regulators.
• The new products and services are within regulatory framework.
-Review new products before implementation to ensure that they are in line with the regulatory framework.
• Existing policies, procedures and processes are revised to incorporate changes instituted by the various regulators from time to time.
-Assist compliance Managers in preparing KYC/AML policies in line with the local regulatory requirements. Up date Policies & procedures as and when changes contemplated by the regulators.
• Management and Staff members are kept abreast of revised compliance requirements and KYC/AML policies/procedures and SDN list.
-Hold formal and informal meetings with the staff members and management to provide timely update on the compliance, KYC/AML and SDN to ensure that revised policies /procedures are complied with.
-Conduct regular training of the staff.
• Liaison with Central Bank and other regulatory authorities with regards to compliance and AML issues.
-Communicate with the Central Bank and other regulatory authorities and provide required information to the regulators in a timely manner.
• Keep management system informed on the major issues noted by compliance Mangers during their periodic reviews of the branches/units
-Submit monthly reports to the members of the concerned management and coordinate with respective compliance Mangers /GMs for resolution of the issues high lighted
Major Challenges:-
• Full compliance of operations across ME countries
• Zero tolerance
• Consistent application of AML procedures and requirements.
KEY DECISIONS
• Provide clearance on the compliance, KYC/AML related issues on the new and existing relationships.
• Provide clearance on the doubtful transactions (name match, US/UN sanctions referred by the Business, Compliance Managers or other Units of the bank.
Job Details
| Date Posted: | 2014-04-06 |
| Job Location: | Dubai, United Arab Emirates |
| Job Role: | Accounting/Banking/Finance |
| Company Industry: | Banking |
Preferred Candidate
| Career Level: | Management |
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