Job Description
Job Purpose
To provide input into the strategy and to assist in the strategic execution in the business Financial Crime Compliance risk management functions and business partnering initiatives, as pertains to Anti-Money Laundering (AML) & Counter Financing of Terrorism (CFT), Sanctions, Anti-Bribery and Corruption (ABC) and Prevention of Facilitation of Tax Evasion (PFTE), in order to discharge Financial Crime Compliance risk management processes as required by relevant regulatory and supervisory requirements, policies and minimum standards.
Duties and Responsibilities
Key Responsibilities/Accountabilities
Provide Financial Crime Risk Management advisory services to Business Executives, Line Management and staff in discharging their responsibility to comply with Financial Crime Compliance statutory, regulatory and supervisory requirements to:
Protect the reputation of the Group
Avoid legal action against the Group
Promote Group Supervisory and Regulatory interaction
Protect the Groups assets and Employees
Provide input into business risk management strategy ensuring alignment to the FCC strategies of the bank and Group FCC as guided by the group strategic purpose and regulatory requirements.
Steer business initiatives through identification of Financial Crime Compliance deficiencies and guiding business in determining appropriate remedial action plans
Develop and build key stakeholder relationships with the executive leadership of all business lines and support functions in the Country to ensure alignment and consistency across relevant business units
Lead effective lobbying with regulatory and supervisory bodies to drive industry and regulatory change and lead input to influence content of draft regulations and guidelines prior to publication e.g. inclusive banking
Develop and maintain key relationships with regulators and supervisors to promote Group supervisory and regulatory interactions.
Determine development needs of the team and ensure that development opportunities (training, rotation, on-the-job learning) are escalated to the Head of Compliance for budgeting.
Maintain a succession plan for the team by reviewing the skills of the team at least twice a year and having career conversations with them.
Create workforce plans for the area to ensure that current and future business requirements can be met.
Guide business in identifying and analysing all Money Laundering, Sanctions, Terror Financing, Bribery and Corruption and Facilitation of Tax Evasion risks within the bank and its processes and the development of remedial actions
Provide advisory services on Sanctions risk inherent in the Country, the business’s clients and cross-border transaction functions.
Ensure that adequate and effective guidance and advice is provided on prospective or existing customers to the business teams regarding:
Due Diligence to be performed in onboarding and periodic reviews
High Risk or Complex structures within the clients
submissions to the Country High Risk Committee
Qualifications and Experience
Preferred Qualification and Experience
Qualifications
Business Commerce / Legal degree / Local country degree in business or Financial Commerce or Legal preferred
Either International Certificate or Local Diploma in AML, CFT, Sanctions, ABC or PFTE risk management is preferential
Knowledge & Experience
Comprehensive understanding of the regulatory and business environment of the Relevant Business Unit
Solid understanding of the Business Unit's needs and ability to translate them into risk management solutions.
Minimum work experience of 3 to 4 years within Anti-Money Laundering & Terror Financing Compliance and Risk Management in the banking or financial services industry. Solid understanding of banking products and activities, and associated regulatory frameworks, including client assets and transaction reporting obligations. Knowledge of upcoming regulatory developments impacting the financial services
Minimum of 5 years management experience within the Anti-Money Laundering & Terror Financing Compliance environment with previous experience in independent assurance and business advisory.
Knowledge/Technical Skills/Expertise
· Solid understanding of the nature of the business and products in the banking environment
Ability to take the understanding of business needs and operations and to translate it into risk management solutions
In depth knowledge and understanding of the legislative and regulatory requirements (current and proposed) relating to Banking as well as internal compliance related policies and procedures
Ongoing awareness of other legislation and regulations which relate to the Group’s business, as well Compliance best practices and trends
Keep abreast of international developments and best practice relating to AML/CFT
Ongoing awareness of Group-wide AML/CFT activities and developments
