ABC are seeking to appoint the Group Head of Compliance to lead the Global Compliance Team and have responsibility for all areas of financial regulation and compliance across the business, including all overseas offices.
To lead the Global Compliance Team and have responsibility for all areas of financial regulation and compliance across the business, including all overseas offices.
To be at the forefront of the business and demonstrate a practical and commercial approach to compliance.
To couple the ability to offer strategic and change-oriented business plans with more day-to-day compliance responsibilities.
To develop and implement all aspects of ABC’s Anti-Money Laundering policies and procedures.
To ensure that ABC has the necessary resources / systems in all locations to facilitate compliance with the Central Bank of Bahrain (CBB) / local Anti Money Laundering (AML) regulations.
Report to the Board and Senior Management on critical AML issues requiring their attention.Principal Accountabilities :
Design and implement regulatory procedures to meet the Group’s strategic objectives
Provide advice to the business at all levels on compliance issues
Develop relationships and be the main point of contact with the CBB and other national regulators
Work closely with client-facing teams to maintain and improve compliance awareness throughout the business
Carry responsibility for overseeing and monitoring all daily AML tasks and functions
Coordinate with Group Money Laundering Reporting Officer’s (MLRO); monitor adherence to the requirements of the ABC Group AML Manual, ABC Compliance Manual and the status of any necessary corrective action.
Act as coordinator between Operations and C&RG / Operational Risk Management on the development and production of Key Risk Indicators (KRIs) and the recording / reporting of operations losses
Keep up-to-date on all relevant CBB and other regulatory body regulations, reporting requirements and procedures
Ensure all relevant personnel are made aware of regulatory compliance requirements and their individual responsibilities in respect of compliance and money laundering issues
Advise all ABC staff of CBB Regulations and be the point of knowledge for the ABC Group understanding of CBB regulations
Oversee the completion of the AML process for all new clients
Review suspicious transactions’, in conjunction with the Group MLRO if required, and report as appropriate
Oversee periodic reviews of the adequacy of documentation for all clients / customers of ABC
Log any documentary deficiencies and follow up with relevant account officers to resolve
Establish and maintain contact with all regulators acknowledging receipt of and compliance with new guidelines and instructions, reporting breaches of guidelines and / or regulations and requesting guidance or interpretation where appropriate
Coordinate on an ongoing basis with other ABC Branches / Subsidiaries on all matters relating to regulations
Monitor Group’s compliance with the requirements of ABC’s Group AML Manual and follow up on the status of any necessary corrective action
Coordinate regular compliance review of ABC business
Coordinate and act as point of contact with ABC external auditors
Receive and review copies of all internal and external audit reports regarding Compliance issues and follow up on corrective action
Assist in the selection, creation, testing and implementation of new reports & Compliance related systems
Liaise with HR to ensure that all relevant’ staff receive AML and CBB regulatory training with the required frequency
Development and production of Key Risk Indicators (KRIs) in conjunction with Group Risk Management Department
Responsible for recording and reporting of operational losses
Experience and Qualifications
University graduate, preferably Masters Level educated, with at least five years’ experience in a Senior Group Compliance function within financial services sector within the GCC.Skills
Fluent English - Arabic and French an advantage(written / spoken)
Confident & Self-motivated
Able to act with a minimum of supervision
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