The Head of Compliance and MLRO is responsible for overseeing the compliance and AML functions within the bank, and ensuring compliance with laws, regulatory requirements, policies and procedures.

The Head of Compliance and MLRO is responsible for overseeing the compliance and AML functions within the bank, and ensuring compliance with laws, regulatory requirements, policies and procedures. He / She will ensure compliance with anti-money laundering (AML) policies within the Bank. This position leads a composite compliance & AML team, organizing the Bank Compliance & AML function, identifying and communicating laws and regulations applicable to the Bank's businesses; providing feedback to business units regarding their compliance activities; and reporting to senior management and the Audit Committee of the Bank's board of directors. In addition, he/she will act as a liaison with the Bank's regulators in connection with regulatory compliance matters.

KEY RESPONSIBILITIES:

• Manage compliance risks and advise on actions and recommendations.
• Track compliance regulatory developments to reflect in policy and procedure formulation and update.
• Ensure proper awareness of business drivers to appropriate legislations and regulatory framework for proper business conduct.
• Advise senior executives and business drivers of compliance matters.
• Ensure strategic planning for the Compliance & AML department.
• Contribute to the organizational business development strategies.
• Proactively address identified compliance risks the Bank may face.
• Review and analyze suspicious transaction reports (STR) generated by staff members, identifying any potential money laundering terrorist or proliferation financing activities.
• Assist in preparing and submitting STRs to the Financial Intelligence Unit (FIU), ensuring accurate and timely reporting.
• Oversee the carrying out of ongoing monitoring of business relations and sample review of accounts for compliance with the AML/CFT laws, regulations and the AML/CFT Guidance Notes of the Central Bank promoting compliance with the AML/CFT laws, regulations and the AML/CFT Guidance Notes, and taking overall charge of all AML/CFT matters within the organization.
• ensure a speedy and appropriate reaction to any matter in which ML/TF is suspected advising and training employees and officers on developing and implementing internal policies, procedures and controls on AML/CFT;
• report to senior management on the outcome of reviews of the financial institution’s compliance with the AML/CFT laws, regulations and the AML/CFT Guidance Notes, and risk assessment procedures.
• reporting regularly on key AML/CFT risk management and control issues, and any necessary remedial actions, arising from compliance reviews to the senior management, and the board of director.
• Support the development and delivery of AML training programs to ensure staff members are aware of AML regulations, internal policies, and procedures. Foster a culture of compliance throughout the bank.
• Collaborate with internal stakeholders, including compliance officers, legal teams, risk management, and business units, to address AML-related matters, provide guidance, and promote effective communication and coordination.

PREREQUISITES:

• Degree or Post Graduate Qualification in Banking or any field accepted by the bank.
• Minimum 10 years of regulatory compliance experience in banking and/or financial services.
• Minimum 7 years of management experience required.
• Prior experience leading a Compliance or a risk function and strong academic credentials are required, with an undergraduate degree from a nationally respected institution considered highly desirable.
• Strong technical knowledge of banking and wealth management business.
• Knowledge of statutory and regulatory framework, including key consumer banking and wealth management regulations.

SKILLS:

• Ability to influence/motivate others to produce desired results.
• Ability to operate effectively in fast paced environment.
• Well-established reputation and relationships with regulators.
• Strong ability to work in a complex team environment requiring exceptional communication and organizational skills.
• Leadership experience in enhancing/managing a compliance risk management program in a fast- growth environment.
• Working knowledge of bank technology and operating systems.
• Experience in large project management.
• Extensive knowledge of compliance and regulatory concepts, practices and methodologies.
• Extensive knowledge of risk management principles and practices.
• Ability to provide an appropriate level of attention to detail and accuracy in a fast-paced, process driven environment.