Compliance Manager – AML & Financial Crime at Mayfair CIB Bank Ltd

Role Description:

Reporting to the Chief Compliance Officer, the successful candidate will be responsible for monitoring Bank wide compliance with external laws, regulations as well as the internal policies and procedures. He/ She will support the Chief Compliance Officer in ensuring that the Bank complies with all applicable rules and regulations in order to avoid financial loss, reputational damage, and legal ramifications as a result of noncompliance.

Key Duties & Responsibilities:

• Regular review, ensuring that the compliance program remains up to date with related regulatory laws and regulations and that all identified gaps, remedial actions are appropriately communicated, implemented in due time.
• Ensure the bank staff's adherence to AML/CFT, CDD/KYC, sanctions, FATCA, ABC, and ethical standards across the bank, including escalating/reporting of suspicious transactions, and record-keeping.
• Overseeing follow-up and, as applicable, resolution of investigations and other issues generated by the compliance, sanctions, and transaction monitoring systems, including development of policies, standards, controls, system enhancements, and action plans, as needed.
• Ensure that irregularities and non-compliance issues or breaches of applicable compliance policies and standards are properly investigated, escalated to relevant senior management and the board committee, with follow up on correction actions.
• Preparation of a comprehensive compliance notice, risk assessment on new products, services, and delivery channels prior to launch in collaboration with relevant stakeholders and the risk and compliance heads.
• Coordination with relevant stakeholders to ensure that new products, services, delivery channels, customer segments, and transaction types are appropriately maintained and integrated into the AML transactions monitoring system. Recommend appropriate system parameter fine-tuning to ensure the system's effectiveness.
• Manage daily, periodic transactions monitoring, sanction screening, quality of alerts clearing disposition through MIS follow up, sample analysis, as well as customers’ on-boarding, KYC update, risk assessment, and suspicious activity reporting processes.
• Manage and ensure the sanction program is running effectively in accordance with applicable local and international standards. Appropriate watch lists are applied and recommended for new lists, as needed.
• Conduct a bank-wide financial crime, ABC risk assessment and prepare management reports with findings and recommendations.
• Collaborate with the HR department to ensure a work force with high ethical standards, including the establishment of minimum standards for conducting appropriate background and reference checks on potential employees.
• Prepare compliance reports for the bank's senior management and relevant BOD committees on a regular basis.
• Ensure that all regulatory parodic returns, enquiries, correspondent banking requirements, and questionnaires are adequately addressed, documented, and tracked through to completion in a timely manner.
• Ensure proper collaboration with the external and internal auditors on regulatory inspections and assist in the gathering of internal information in response to regulatory requests.
• ensuring appropriate follow-up on pending compliance audits and regulatory findings.
• Develop and coordinate appropriate compliance training and education programs for all employees; ensure and understand the company’s commitment to complying with all laws, regulations, company policies, and applicable ethical standards.
• Perform all other duties as assigned by the line manager or his/her designate.

Key Competencies:

Demonstrated knowledge and experience with;

• At least seven (7) years’ experience in compliance in the banking sector, with good understanding of banking operations, systems, and controls
• Extensive knowledge of banking regulations and applicable laws.
• Extensive knowledge of risk and compliance topics
• Excellent interpersonal and communication skills
• People management skills
• Excellent planning, organization and execution skills
• Ability to work within deadlines with proven time management skills
• Ability to draught policies, and procedures and report on findings
• Ability to adapt to a dynamic and fast-paced environment.

Qualifications /Technical Skills Required:

• Minimum of bachelor’s degree in economics, or a related field
• Financial Crime, Risk, and Compliance certifications will be an added advantage (e.g., CAMS, CGSS).
• Proficiency in Microsoft Office Suite.
• Dynamic, detail oriented and self-driven individual with the ability to work under pressure.
• Strong experience of report writing and dashboard presentations
• Demonstrate high integrity and ethical standards.
• A Critical thinker with problem solving skills
• A team Oriented individual