Compliance Manager recruitment

The incumbent will also be performing regular and comprehensive compliance and internal control risk assessment and testing according to the approved compliance internal control review plan. The incumbent will be required to report on a regular basis on compliance and internal control matters, identified breaches and corrective actions taken, as applicable.

Responsible for the adequate identification and assessment of the compliance risk faced by the branch with respect to its domestic operations and thereby reduce the risk of regulatory sanctions, which could result in financial losses/ penal actions and the associated loss of reputation.

Ensure adequate coverage of the branch’s domestic operations/ activities in the annual compliance plan to provide assurance on the adequacy and effectiveness of the processes in place to ensure compliance with the relevant laws/ regulations (including but not limited to AML/ CFT laws/ regulations) impacting the branch’s domestic operations.

Prepare and implement the annual compliance and internal control review plan for Head office submission and approval.

Implement the specific steps within the compliance program to ensure adequate bank wide coverage of local Central bank’s requirements (including Anti Money Laundering, and terrorism financing activities)

Implement a system of permanent control of major risks.

Monitor action taken on Central Banks inspectors’ recommendations to ensure effective implementation.

Monitor adherence of business and support management to Central Bank/ Legal Authority regulations and statutory requirements.

Oversee the standard of accounting and financial information, in particular the conditions under which such information is registered, retained and disclosed

Oversee global risk management by setting and ensuring the cohesion and efficiency of ongoing control procedures throughout the entire branch.

Verify compliance with all types of decision-making procedures and risk procedures as well as management standards set by Senior Management, in particular in the form of restrictions.

Responsible for the maintenance of a permanent file and working file. The permanent file must contain all information regarding the bank’s activities and internal control reports, including the organization chart, description of procedures, important control points and previous reports. The working file must give a clear indication of the tasks performed and the steps phases followed (legible work sheets providing a clear history of chosen transactions, controls performed, problems ascertained and findings).

Conduct on-going compliance reviews as per the approved annual compliance review plan.

Review system changes and or enhancements of Central Banks returns to ensure that the implementation is within Central Banks policies.

Ensure implementation of Head Office/ banking commission/ external auditors’ recommendations regarding audit reports.

Ensure the integration of new regulations and procedural amendments.

Provide training on compliance policies and regulations

Submit periodic reports to Group Compliance detailing cases of non-compliance to Central Banks’ regulations and statutory requirements.

Prepare and retain monthly internal control reports for Head Office and regular report when required to General Manager.

Prepare annual report on internal control in coordination with Senior Management and head office.

Prepare internal control report for every assignment conducted detailing the review objectives, scope and outcome.

Make internal control record file of all of the branch’s activities and determine the frequency of each control procedure (daily, monthly, etc.) based on the risk involved and the efficiency of current procedures.

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 central inspectors and bank’s divisions, Departments and Branches to facilitate their mission.

Carry out the mandatory verifications and reviews required (currently interim review and verification of the bank investment portfolio and funds).

Develop and implement Anti-money laundering policies.

Organize training on AML policies and regulations.

Participate in special assignments investigations, as and when required.

Recommend improvement in bank’s policies and procedures as appropriate to be in line with new and or amended Central Banks’ regulations and statutory requirements.

Make necessary recommendations in order to improve the security and efficiency of transactions.

Maintain an understanding of all pertinent laws, regulations, policies/ procedures and applicable best practices pertaining to the branch’s domestic operations/ activities.

Maintain utmost confidentiality with respect to the information obtained during the day-to-day performance of his duties/ responsibilities.