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
Role Description
- Assist the Senior Compliance Officer in ensuring sound compliance policies and practices in order to protect QNB licenses, customer relations and compliance procedures.
- 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.
- Monitor action taken on Central Banks inspectors’ recommendations to ensure effective implementation.
- 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.
- Submit periodic reports to Senior Compliance Officer detailing cases of non-compliance with Central Banks’ regulations and statutory requirements.
- Prepare a report for every assignment conducted detailing the review objectives, scope and outcome.
- Conduct scheduled and ad hoc AML reviews as per the approved annual review plan.
- Assess the anti-money laundering review conducted by the business units / branches for the daily and monthly reports with immediate reporting on non-compliance cases.
- Review new and amendment made to relevant policies and procedures, services and products to ensure that the implementation is within AML regulations and guidelines.
- Performing regular testing to ensure full compliance to KYC policy, which should include all type of customers and counterparties.
- Perform the regular monitoring of the customer names and transactions to identify any unusual transactions, through Safe Watch And MQ Series
Qualifications
- University graduate preferably with a Major in Finance, Banking, Economics, Business Administration or Law (related field of study),
- 3-5 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.
