Description:
Lesha Bank is always in search of top talent and bright minds to contribute to the current transformation taking place at our bank. We are looking for unique individuals that are passionate and hungry to add value. Every day at Lesha is different, presenting a new challenge with the opportunity to contribute and grow. We are currently looking for a Senior Compliance Manager.
The Senior Compliance Manager is responsible for managing the AML and Legal compliance and supports the Head of Department in managing relevant internal control functions of the Bank and its subsidiaries (including SPVs). They will Propose enhancements Senior to existing AML and Legal Compliance processes, and policies and introduce new processes aiming to create a robust AML and Legal Compliance function. Lead the implementation of the initiatives and projects.
- Oversee the compliance of the Bank with local Anti-Money Laundering and Combating Financial Terrorism (AML/CFT) laws and regulations set by the applicable regulatory bodies.
- Managing the Compliance Program, in line with the Compliance Terms, to achieve conformity with laws, regulations and Bank’s policies and procedures.
- Set the “Know Your Customer” (KYC) and Anti-Money Laundering (AML) policies and procedures for the Bank.
- Supervise and support department members in order to ensure proper execution of tasks, and provide the Bank employees with presentations and trainings to create awareness of AML/CFT compliance-related issues.
- Oversee daily management of Compliance Risk, projects, system and data management, Customer Acceptance, Sanctions and develop strategic directions for functional areas of responsibilities.
- Maintaining the necessary infrastructure, tools and methodologies in the department and managing the resources accordingly for the Bank to execute its responsibilities in the areas below:
-Compliance Risk assessment and monitoring program,
-Monitoring and investigation,
-Customer Acceptance,
-Santions,
-FI Due Diligence, Correspondent Bank Relations,
-Systems and Data Management, Reporting,
-Training and Development,
Strategic Direction and Compliance Plan:
- Supporting the Head of Compliance in setting the department strategy and in ensuring its alignment with Bank strategies and objectives and with the laws and regulations.
- Providing input to Head of Compliance in preparation of the Annual Compliance Plan, setting, and reviewing objectives and business performance indicators for the purposes of improving Bank Compliance Department.
Compliance Risk Management:
- Establish a framework to identify, assess, monitor and control compliance risks within the Bank and businesses (including money laundering and regulatory risks). Report compliance risks and failures to the Head of Compliance to take necessary measures accordingly.
- Perform Risk Assessments on the bank’s environment and raise findings as per bank adopted control and risk frameworks. Identify risks by using the information and analysis of Risk Matrix and maintain the department risk assessment to act proactively and timely against risks exposed.
- Conduct effective AML risk assessment and establish the compliance monitoring program covering AML monitoring and testing activities.
- Conducting tests and analyses of the bank’s activities and provide recommendations on any observations resulting from non-compliance with effective and timely corrective action.
- Identify gaps, constraints, factors that lead to non-compliance and develop appropriate solutions to ensure compliance and oversee their application by the relevant departments.
- Review risk mitigation plans and follow up on the implementation of risk controls.
- Review new products as part of the AML sign-off process.
Compliance with AML/CFT Policies and Procedures:
- Set and implement a compliance plan for the Bank in coordination with concerned committees and central departments.
- Maintain adequate AML/CFT policies and procedures to ensure that the Bank’s activities and processes are compliant with local AML/CFT laws and regulations, and with the International standard requirements.
- Coordinate with business and support functions to ensure adherence to compliance policies and procedures, in particular those relating to the KYC, anti-money laundering, anti-corruption and counter-terrorism financing.
- Participate in the validation process of products and services, to ensure that they are compliant with local laws and regulations.
Clients Acceptance, Monitoring & Reporting:
- Review clients’ accounts to ensure that they are documented in accordance with legal KYC standards. Monitor clients’ activities to detect unusual or potentially suspicious transactions.
- Conduct investigations on critical information regarding a customer, an intermediary, a market, an activity or an employee, and report the results to the Management and related authorities.
- Monitor the clients’ files review and participate in the confirmation of clients’ acceptance.
Correspondent and Foreign Banks Inquiries:
- Respond to correspondents and foreign banks' inquiries about customers and internal compliance policies and procedures, in coordination with operation departments and legal advisors, in order to ensure that the shared information respects the Bank’s policy.
- Conduct due diligence for existing and/or new financial institution relationships on local and international cases providing recommendations and/or highlighting risks accordingly. This covers, but not limited to, correspondent banks, brokerage companies, financial intermediaries, etc.
- Control of AML questionnaires filled as requested by all international correspondent banks, while replying to their additional requests concerning AML, sanctions, due diligence, or other related inquiries.
- Review various investigations received to determine necessary preventive measures, where applicable.
Sanctions:
- Oversee sanction risk and ensure proper internal communication.
- Review high-risk transactions related to sanctions or other complex cases.
Transaction Monitoring:
- Review and manage the AML Monitoring System alerts covering high value / suspicious transactions and screening alerts and validate the level of compliance with the bank’s internal policies, best practice and applicable regulatory framework while corresponding to the nature and volume of business per client.
- Perform periodical AML review of executed deals to ensure satisfactory client KYC and CDD performed.
- Run periodic monitoring procedures on risky accounts to ensure all types of transactions executed are compliant with the set policies and procedures and correspond to the nature and volume of business per client.
- Ensure continuous abidance by set investigation policies and procedures; Investigate executed transactions as per set scope of requirements; Take action in complex/critical cases accordingly.
- Handle investigation of internal Suspicious Activity Reports and perform enhanced due diligence process and report recommendations. Prepare the external suspicious transaction report when required.
Compliance Trainings:
- Promote AML/CFT compliance awareness and culture across the Bank; Ensure that all employees are appropriately trained on anti-corruption, anti-money laundering and compliance requirements by organizing/conducting regularly relevant training sessions and seminars on the policies and procedures in order to maintain the staff awareness and involvement.
- Support the Head of Compliance in the development of effective compliance training programs thus promoting a compliance culture and awareness program for all staff.
Project and Change Management:
- Responsible for Compliance Department transversal projects, focused on managing these projects, meeting project commitments and communicating with project owners, sponsors, and stakeholders. Provides the management reliable, competitive and optimal solutions in order to increase efficiency, effectiveness and performance, to minimize risk, and to abide the laws and regulations.
- Assess the project requirements of the Compliance department with the best practices.
- Lead and control the planning, designing and the implementation of projects to maintain the goals within set budget and allocated resources.
- Monitor and report on progress of the projects to all stakeholders, in addition to the problems faced and solutions.
Requirements
- Master’s degree or equivalent in business related field
- Minimum of 7+ years of experience in a Compliance role
- CAMS or similar certification
- Advanced level of knowledge in organization techniques and methodologies and banking operations, with emphasis in areas under specialization.
- A proven experience in people management, strategic planning, risk management, change management as well as in project management.
- Extensive experience in audit/compliance roles in various banking and financial services industries.
- Consultancy expertise in financial services compliance / regulatory background.
- Fluent in English, Arabic preferred