Conduct periodic internal reviews or audits to ensure that compliance procedures are followed.
Key responsibility for day to day monitoring and reporting of compliance risks.
Conduct or direct the internal investigation of compliance issues.
Create a design to maintain records of compliance activities, including any complaints or investigations.
Establish a compliance testing plan, and conduct compliance checking through random samples to ensure that the company is in compliance with internal policy and produces and CBK rules and regulation.
Responsible to ensure the all staff are fully aware (the related instructions) of the policy and procedures, KYC (Know your Customer) and SAR (Suspicious Activity Report) related instructions and to implement them accurately.
Liaise with internal departments on Compliance, AML CFT related matters.
Identifying suspicious transaction and raise an SRT
Policies and Procedures
Develop all policies and procedures related to compliance activities, AML and CFT, and make sure that all policies and procedure are followed.
Review compliance policies and procedures on a regular basis to ensure they comply with CBK requirements.
Laying down a compliance Framework
Assess product, compliance, or operational risks and develop risk management strategies.
Assist with the compliance risk assessment process ensuring that the compliance risks are appropriately identified and assessed.
Provide reports to the Management, highlighting any areas of potential risk to the company.
Coordinate with CBK representatives during any inquiry, investigation or audits and acts as the main focal point.
Coordinate / engage will regulators as and when required.
AML Due Diligence
Communicate any major change in AML policies/procedure among the branches based on instructions received by the CBK from time to time.
Respond to correspondent bank queries on AML.
Monitor compliance systems to ensure their effectiveness.
Working closely with IT department to ensure that Compliance system working properly and as per company requirements.
Working closely with IT / Vendors on development on AML system for sanction screening and transaction monitoring.
Liaise with training department for training of employees on AML & CFT.
Effectively lead and develop the compliance team, in line with department goals, objectives and systems, monitor and evaluate their performance.
Provide a proper motivation and coaching for compliance team
Ensure team receives necessary training and development as per job level to reflect on their capabilities and customer service.
Bachelor degree in Finance or any relevant.
Good communication and influence skills.
Analytical thinking and proplem solving.
5 years experinace.
This job is posted in the following Specialties:
Job Location: Kuwait
Company Industry: Financial Services
Company Type: Employer (Private Sector)
Job Role: Management
Employment Status: Full time
Employment Type: Employee
Monthly Salary Range: Unspecified
Number of Vacancies: 1
Career Level: Management
Years of Experience: Min: 5
Residence Location: Kuwait
Degree: Bachelor's degree / higher diploma
About This Company
The Company was first incorporated in 1942 under the name, ABDUL AZIZ AND ALI AL YOUSIF ALMUZAINI, to conduct exchange business. On the 26th of January 1995 we transformed to a Closed Shareholding Company under the name: Al Muzaini Exchange Co. However, our values did not change. During the last 7 decades, we have grown from limited branches and a small team, to over 65 locations in operation and a large employee base. Throughout this time, we have continually been providing our customers dedicated and top-quality services. Today, this has grown to become our tradition.
Source - Bayt