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Vice President, Financial Crime Compliance Advisory

Arab Banking Corporation
Manama, Bahrain
Posted 2 days ago Permanent competitive

Department: Group Financial Crime Compliance

Reports To: Group Head of Financial Crime Compliance (FCC)

Job Purpose:

  • Establish and lead the GFCC Policy and Advisory function from a people, process and systems perspective.
  • Develop and ensure the implementation of a GFCC Policy and Standards structure and hierarchy to ensure it is proportionate to the Bank ABC Group regulatory FCC risk.
  • Provide expert advice to Bank ABC Units on FCC related regulations, including the interpretation of regulatory requirements.
  • Manage the process of consolidating the annual MLRO report for Bank ABC Group, utilising the inputs gained from Group Compliance and the GFCC risk assessment questionnaires and subsequent in-country action plans developed.

Dimensions of role (i.e. budgets managed, number of staff):

Financial (Revenue, Expenses, Budgets etc.)

None

Non-Financial (size of team, geographical coverage, time horizon of main decisions, etc.)

  • None, this role would in future have a headcount of 2 reporting to it.

Principal Responsibilities, Accountabilities and Deliverables of Role:

Policy and Standards

  • Establish and lead the GFCC Policy and Advisory function at Group level from a people, process and systems perspective.
  • Develop and ensure the implementation of a GFCC Policy and Standards structure and hierarchy to ensure it is proportionate to the Bank ABC Group regulatory FCC risk.
  • Perform periodic reviews of the GFCC Policies and Standards to ensure they are kept up to date with legislative developments and requirements; and incorporate international best practice issued by recognised standards generating bodies e.g. FATF, Basel, Wolfsberg.
  • Monitor regulatory horizons and ensure that the Policy and Advisory team perform a detailed gap analysis where legislative change is the driver for policy updates or enhancements, and the results considered as part of the drafting process.
  • Manage the engagement process with Bank ABC Units in order to ensure that all changes to Group FCC Policies and Standards are socialised with affected stakeholders and communicated effectively.
  • Ensure that GFCC Policies and Standards are embedded in all Bank ABC Units by providing SME input and support in the development of controls questions for the CSA process; and validating the feedback received from Bank ABC Units.

Advice

  • Provide expert advice to Bank ABC Units on FCC related regulations, including the interpretation of regulatory requirements.
  • Responsible for the development of FCC Key Obligation Register where Regulatory requirements and FCC risks are analysed and standards are determined across all Bank ABC Units.

Training

  • Develop and maintain the GFCC training curriculum for Bank ABC.
  • Develop and maintain the body of knowledge for GFCC general awareness training for the Bank ABC Group and perform an oversight role to ensure that specialised training is provided to relevant stakeholders (e.g. intermediaries and suppliers) as deemed to be appropriate.
  • Design and deliver face to face training and ongoing ad hoc training to Compliance team and other relevant stakeholders as necessary.
  • Liaise with the Group Compliance and ensure that induction and ongoing refresher training content is kept up to date and in line with new regulations and global best practices.

Oversight and Reporting

  • Manage the process of consolidating the annual MLRO report for Bank ABC Group, utilising the inputs gained from Group Compliance and the GFCC risk assessment questionnaires and subsequent in-country action plans developed.
  • Manage the end-to-end Agreed Upon Procedure (AUP), including the consolidation of risks identified during the AUP process and ensure all issues captured onto the GRC Tool and tracked to resolution.

Risk, Compliance & Business Continuity:

  • At all times, act with due care, skill and diligence to ensure compliance with Bank ABC’s risk culture, policies and procedures, Code of Conduct and Values.
  • Escalate risk and compliance issues in a timely manner to your line manager and ensure that all mandatory training is completed to schedule.
  • Participate in exercises to rehearse the banks response to an emergency (i.e. evacuation exercises and Business Continuity tests)

Main Contacts:

Outside the Bank: Regulators and Counterparties on FCC legislative issues

Within the Bank: Compliance, Business and Functional Unit heads and staff

  1. Contact Group
  2. Internal / External
  3. Purpose
  4. Frequency

Central Bank of Bahrain

  • External
  • Engage on legislative and regulatory matters
  • Ad Hoc

Wholesale Banking and Retail Banking

  • Internal
  • Provide legislative and regulatory advise
  • Regularly

Group Compliance

  • Internal
  • Relationship development and management of regulatory risks with Group Compliance Heads and staff.
  • Daily

Job Requirements:

Knowledge:

  • Deep knowledge of FCC legislative and regulatory frameworks.
  • Specialist capability of interpreting legislative and regulatory frameworks, but also advising on it.
  • Deep knowledge of GFCC Policy frameworks and the drafting GFCC Policies and Standards.
  • Significant knowledge in the management of FCC regulatory risk.

Education / Certifications

  • Law Degree
  • Diploma in AML or CAMS

Experience

  • 8+ years of FCC experience in an FCC role, with deep working knowledge of FCC regulatory requirements.
  • 2+ years’ experience as a Money Laundering Reporting Officer.
  • Experience in developing and drafting FCC Governance Frameworks, Policies and Standards, advising on FCC regulatory requirements.

Personal Attributes

  • Pragmatic, attention to detail, ability to drive performance and achieve tight deadlines
  • Robust but diplomatic attributes including excellent communication skills and the ability to present information and influence decision making at a business and senior management level.
  • Able to build networks within the Bank and foster excellent Compliance/Business relationships – Collaborative and Client Centric.
  • Able to design and deliver compliance training which is appropriate for the audience

Committee Responsibilities:

Consolidation and reporting of Policy and Standards roll-out across Bank ABC Units to the GCOC, via the Group Head of FCC.

Consolidation and reporting of AUP results across Bank ABC Units to the GCOC, via the Group Head of FCC.

Consolidation and reporting of MLRO reports across Bank ABC Units to the GCOC, via the Group Head of FCC.

Regulatory Status of Role: Country Specific

  • Not Applicable

 

 

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