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To support Bank management in the identification and management of compliance risk as required by relevant regulatory, supervisory and statutory regulations/guidelines, applicable codes of conduct and minimum standards.
Key Responsibilities/Accountabilities
- Implement a risk-based compliance monitoring programme from the Compliance Risk Management Plans.
- Prepare and/or enhance compliance obligation checklists and Self-Assessments of regulatory, legislative, AML and compliance policies in conjunction with the respective business functions.
- Review and maintain comprehensive compliance self assessment attestations from branches and departmental functions on a quarterly basis.
- Conduct off-site and onsite reviews to ensure compliance risk management controls are being adhered to.
- Prepare working papers for the onsite assessments to be conducted on branches and departments.
- Monitor and track closure of exceptions/ lapses raised from the Compliance Self-Assessment attestations.
- Co-ordinate the implementation of corrective measures to mitigate identified deficiencies.
- Identify and assess the compliance and internal control risks and gaps associated with the bank’s activities.
- Entrench AML policies and ensure that appropriate AML procedures are implemented effectively by the bank including customer acceptance policy, customer due diligence, record keeping and on-going monitoring
- Work with business functions to ensure potential risks have been mitigated in the bank’s proposed future business activities.
- Advice on compliance related legislation affecting the bank.
- Make recommendations for the amendment of policies, procedures, and processes where necessary.
- Review the bank’s compliance policy on an annual basis to ensure completeness and consistency with current and prospective organizational responsibilities.
- Conduct targeted reviews to assess compliance with internal policies, procedures and processes.
- Provide compliance risk reports on completion of reviews to all functional heads.
- Monitor and track closure of management actions by regulators and external auditors and ensure management response.
- Monitor the Bank’s risk status periodically and report to Board Audit and Risk Committee on a quarterly basis
- Provide input for compliance reports to RMC, EXCO and Board committees, ensure such are submitted timely.
- Raise awareness and provide training to bank staff on compliance policies
Training
- Conduct continuous risk management awareness training to all staff to ensure staff are aware of risks relevant to their functional roles.
Preferred Qualification and Experience
- Bachelor’s degree in business administration or equivalent;
- Minimum 4 years of experience in the AML/ CFT and Compliance in the banking industry;
Knowledge/Technical Skills/Expertise
- Comprehensive understanding of the regulatory and business environment of the banking industry.
- Understanding of business unit needs and ability to translate them into risk management solutions.
- On-going awareness of regulatory requirements related to banking
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