Summary

The incumbent will support promoting a strong compliance culture throughout the organization. Assist in managing on a pro-active basis the compliance activities with the purpose of identifying and assessing the compliance risks associated with the business activities especially those related to regulatory and statutory requirements. Be responsible for performing regular and comprehensive compliance risk assessment and testing according to the approved compliance review plan.

Reporting on a regular basis on compliance matters, identified breaches and corrective action taken to Senior Compliance Officer. To ensure complete and proper implementation of regulations and guidelines. To develop and co-ordinate bank-wide continuous training courses regarding Central Bank’s regulations and statutory requirements.

Experience

• Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/ units to achieve improvements in turn-around time:

• To assist in preparing and developing the annual compliance review plan.

• Provide timely and accurate information to the external and internal auditors and the Compliance function as and when required

• To implement specific steps within the review program to ensure adequate bank wide coverage of Central bank’s requirements.

• Monitor adherence of business and changes to business practices and products to ensure adequate consideration and compliance of business to regulatory and statutory requirements.

• Monitor the implementation of new regulations or amendments made to the existing regulations.

• Participate in conducting scheduled and ad hoc compliance reviews as per the approved annual compliance review plan.

• Review new and amendments made to relevant policies, procedures, services and products to ensure that the implementation is within regulations and guidelines

• Review system changes and or enhancements of Central Banks returns to ensure that the implementation is within Central Banks guidelines.

• Promoting employees awareness by developing and coordinating bank-wide continuous training courses regarding compliance issues and requirements.

• Provide advices and solutions as and when required, and recommend improvement in bank’s business and support activities to be in line with new and or amended Central Banks’ regulations and statutory requirements.

Qualifications

• University graduate preferably with a Major in Finance, Banking, Economics, Business Administration or Law (related field of study),

• 6+ years’ experience of control/audit procedures and knowledge of compliance in banking institution or regulatory agency preferably in compliance or internal audit function.

• Professional qualifications such as CPA/CIA/CA.

• Good oral and written communication skills (incl. report writing) in English; depending on each country requirements Arabic or French may be required.

• Good Knowledge in the following areas ;

  • Banking and IT applications.

  • Current regulations and financial instruments.

  • Bank accounting procedures.

  • Banking products and services.

  • Regulatory and tax matters.

  • Self-discipline, initiative, organizational skills & relations building skills