Compliance Officer at Sidian Bank

JOB PURPOSE

The job holder will be responsible for performing AML/CFT/CPF compliance function. Such functions include implementing the Bank’s AML/CFT/CPF compliance program, conducting investigations, analysis, reporting and responding to Money Laundering/ Terrorism/Proliferation Financing (ML/TF/PF) cases, identifying points of compromise and potential loss.

KEY RESPONSIBILITIES

• Transaction Monitoring and Reviews
• Collaborative Partnerships
• Strengthening Risk Management
• Reporting 
• Risk & Compliance

MAIN ACTIVITIES

Transaction Monitoring and Reviews

• Implement adequate AML,CTF and CPF  controls to ensure that all possible areas of AML, CFT & CPF concerns are covered.
• Perform regular reviews of all AML, CFT & CPF controls to assess effectiveness. This includes;
• Sanction and Politically Exposed Person (PEP) screening program
• Transaction monitoring program
• Customer and Enhanced Due Diligence program
• Suspicious Activity/Transaction Reporting (SAR/STR) management program
• Adverse Media mentions review program
• Investigative orders management program
• Perform detailed analyses to detect patterns, trends, anomalies and schemes in transactions and relationships across bank’s processes/ customers/ products.

Collaborative Partnerships

• Assist in implementing a bank-wide AML/CFT/CPF program through risk awareness training program for all staff especially on identification and reporting of suspicious transactions. 
• Maintain detailed knowledge of current AML/CFT/CPF regulations and keep track of developments within the AML/CFT/CPF scope, sanctions, terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
• Maintain strong working relationship with internal stakeholders to ensure that compliance issues are regularly discussed and addressed.

Strengthening Risk Management

• Ensure that AML/CFT/CPF procedures and processes are in line with regulatory requirements.
• Proactively identify gaps in the assigned reviews, assessments, projects and follow up on implementation of agreed mitigation controls.
• Monitor and track closure of management actions from the compliance reviews, regulators’ and External auditors’ reports.

Reporting

• Prepare regular reports on the state of AML/CFT/CPF program to the MLRO.
• Report control weaknesses or lapses to the manager in a timely manner, recommend mitigation controls or process and policy changes and follow up implementation of agreed actions.
• Execution of instructions and any other duties from the Manager Compliance/ Senior Manager Compliance, as assigned from time to time.
• Co – operate fully with regulators and law enforcement agents and make available required documents and information.

Risk & Compliance

• Attend training and maintain knowledge of and comply with all bank policies and procedures including Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing laws, rules and regulations.
• Participate or undertake Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing bank programs on a regular basis e.g. taking attestations, self-assessment tests, filling in compliance questionnaires as required
• Comply and not to knowingly participate or assist in any violation of Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing laws, rules, regulations or internal policies, procedure and guidelines.
• Report suspected money laundering cases to their respective heads of units or to the Money Laundering Reporting Officer as soon as such incidents occur immediately with a clear basis of suspicion   
• Avoid Misrepresentation and Malicious Reporting – knowingly making a false, fictitious or fraudulent representation e.g. statement, report, document.
• Avoid Tipping Off customers being investigated so as not to knowingly prejudice an investigation by disclosing information.
• Not provide advice or other assistance to individuals who attempt to violate or avoid Anti Money Laundering/Countering Financing of Terrorism/Countering Proliferation Financing laws, rules, regulations or corporate policies.
• Co – operate fully with regulators and law enforcement agents and make available required documents and information.

DECISION-MAKING AUTHORITY

• Closure and escalation of alerts 
• Suspicious transaction to be reported 
• Appropriate documentation for use in Suspicious Activity or Transaction supporting documents  
• Transactions to be marked in the system as suspicious 
• Customers to be updated in the blacklist 
• Communications to business on awareness on issues and trends noted 
• Appropriate remediation action on implementing the banks AML/CFT/CPF program
• Training requirements for the business 
• Compliance activities to be monitored 
• High-risk accounts to be reviewed

ACADEMIC BACKGROUND

• Bachelor’s Degree in Business related course or equivalent.
• Anti-Money Laundering  Certification

WORK EXPERIENCE

• At least 4 years’ banking experience in AML/CFT/CPF in an Enterprise Risk Management function. 

SKILLS & COMPETENCIES

• Knowledge of money laundering techniques and regulations
• Knowledge of regulatory compliance requirements and risk management principles
• Demonstrable analytical skills and Experience in working with Server Query Language (SQL) and analyzing large volumes of data
• Good knowledge of payment services and operations
• Good Organizing and planning skills
• Good knowledge of payment services and operations
• Results oriented, effective communicator and a team player eager to learn and share experiences
• Proficiency in Microsoft Office Applications

PROFESSIONAL CERTIFICATION

• Certification in a professional association such as the Association of Certified Anti-Money Laundering Specialists (ACAMS)