Role Summary

You will be responsible for managing the Group Compliance Sanctions team, act in a pro-active manner to all regulatory changes within the banking industry. Safeguarding the Bank from being exposed to the risk of legal/ regulatory sanctions and associated financial loss that the Group may incur. Key responsibility will be developing awareness across key areas of the Group on best Compliance Culture and Practices.

Role Description

• Responsible for compliance advisory services provided to business in view of the non-compliance risk assessment faced by the Group with respect to its operations and thereby reduce the risk of regulatory sanctions, which could result in financial losses and loss of reputation.

• Responsible for communicating to Executive Management about Sanction Programs.

• Suggest different scenarios to assist the business within the scope of the international Sanctions programs.

• Establish a well maintained relationship with the Local / international regulators.

• Advise and guide the business and support units on compliance matters and issues pertinent to their day-to-day operations to ensure adherence to relevant Sanctions programs.

• Report the results of compliance Sanctions efforts of all entities and shall serve as the primary resource on Compliance issues to the Chief AML, Sanction, Governance & Advisory.

• Advise on the implementation of risk management and control practices within the organization.

• Report on a regular basis to the Chief AML, Sanction, Governance & Advisory regarding non-compliance risks, identified breaches and corrective action taken pertaining to the Group’s activities, for onward reporting to the Group Audit & Compliance Committee.

• Ensure that new products and services as well as all new/ significantly amended Group policies, manuals and procedures are applicable to the Group’s operations are vetted from a Compliance perspective.

• Establishment of a mechanism to follow up on all the regulatory and instructions changes with respect to the financial sanctions for all the financial services operations, locally and internationally;

• Interpret and react upon any risky events, news and developments that may impact business operations and management decisions;
• Liaising with regulators whenever required, responding to their queries/ issues and ensuring their identified recommendations and gaps are adequately followed-up until final resolution.
• Keep abreast on financial industry laws and regulations and provide regulatory expertise in consulting with business line leaders within the Group
• Maintain an understanding of all pertinent laws, regulations, policies/ procedures and applicable best practices pertaining to the Group’s operations/ activities locally and internationally.

Qualifications

• Bachelor degree with professional qualifications such as CAMS/ CCO/ CIA.

• A minimum of 12 years’ experience in a major banking institution or regulatory agency out of which 8 years should be in a supervisory role relating to Compliance or Internal Audit.