Senior Manager - Compliance & MLRO (RBG & CIBG)
To manage the Regulatory risk for the bank by ensuring compliance to regulatory requirements across CIBG/RBG Business Groups (including Mashreq Al Islami).
Act as the focal point to deal with regulatory authorities on compliance issues pertaining to CIBG/RBG related businesses.
Disseminate written policies and procedures related to compliance activities.
Provide assurance to Management that all processes/controls at CIBG/RBG are in line with regulatory requirements. Pro-actively escalate critical issues (compliance / regulatory) that affect the bank; take timely actions to ensure bank is not investigated, charged, fined or publicly castigated by any regulatory authority.
Supporting the business by providing compliant solutions and advice to regulatory issues/obstacles and intervene where necessary to stop a transaction/process/business proposal.
Assist business in obtaining regulatory approvals; New Branch / representative office Licenses, Product Launches, Outsourcing, Mergers / Acquisitions etc.
Creating a well-built dynamic Compliance Team. Ensure strong ‘regulatory compliance culture’ evolves. Effective roll-out and/or re-engineer compliance processes for enhancing efficiencies after analyzing the trends and gaps.
Manage regulatory inspections. Ensure timely response of queries by regulators, law enforcement agencies; assuring the quality/integrity of information.
Key Result Areas
Maintain ongoing awareness of all applicable internal/external regulatory requirements that could impact the bank. Provide an update to Business Heads of CIBG/RBG, HO Compliance on keys issues, breaches, and violations (including US/UN sanction issues/other restrictions) and/or emerging legislation; develop and monitor action plans for closure of the same.
Advise/assist CIBG/RBG in obtaining necessary regulatory approvals for licensed activities – while keeping HO-Compliance fully advised and escalating any concerns.
To assist/co-ordinate with CIBG/RBG in the design and implementation of key business processes that have a direct impact on any compliance outcomes. Provide input and advice to CIBG/RBG so that all compliance related matters are effectively and efficiently resolved
Provide timely compliance comment/clearance on Screening Referrals, High Risk Customers On-boarding Referrals, Marketing/Advertising initiatives and SOPs received from various business segments of the bank are in compliance with applicable Regulatory and Mashreq compliance/AML policy requirements.
Conduct/roll-out specific AML, KYC and Sanctions Compliance training programs through on-line portal, as well as face-to-face class room type sessions at MLS ,as required and arrange necessary specialist training through external vendors as appropriate to raise standards of awareness (liaise with MLS as required)and ensuring the completion of the same, by the staff across the bank.
Act as the main point of contact and play a key role in facilitating regulatory examinations / external audits and assist business to ensure timely closure of any audit findings / action items resulting from regulatory/external/internal audit.
Conduct Compliance Monitoring of high risk activities and periodic internal reviews or audits to ensure that compliance procedures are followed.
Conduct investigations as necessary/appropriate or as directed/required by Regulators, AML & Sanctions unit or HO-Compliance.
Pro-actively recommend improvements to the frame-work / structure / workings of CIBG/RBG Compliance in line with business needs/plans and HO-Compliance guidelines.
Assist HO Compliance in formulating bank wide policies, especially AML & KYC policy, Annual MLRO Report, Sanctions policy on various high risk jurisdictions and conflict zones, Personal Investment Policy, etc.
Develop excellent professional rapport/relationship with all relevant Regulator/Authorities, ensuring full cooperation, timely/satisfactory resolution of any queries from them and timely delivery of all necessary regulatory reporting where required.
Share regular updates, communications and developments from a Regulatory aspect that are deemed to be of interest and importance for the business. This will assist in the development of compliance awareness and understanding. Where appropriate a summary of the business impact, if any, and the required actions being taken should also be explained.
Proactively liaise/coordinate/assist other embedded Compliance units as appropriate/necessary for timely/satisfactory closure of cross-group/pan-Bank issues as directed/in liaison with HO-Compliance – : Sales of Mutual Funds, Handling of court orders, AML Questionnaire by other banks, police cases, etc.
Ensure timely action on any subpoena received on any customer. Review of information documents requested and sending a consolidated package to foreign branch for onward submission to the court of law / attorney.
Develop and be responsible for the record keeping of all CIBG/RBG compliance records. Including account opening clearances, investigation files, transaction referrals and complaints received from the regulators/relevant authorities (If Any)
Train to meet skill/specialisation gaps and develop career growth plans for CIBG/RBG Compliance staff in (to retain/attract the right staff), including - ACAMS, Certified Compliance Officer Certification and other specialised programs covering Regulatory Compliance.
Plan, Manage and meet the budget expectations for the CIBG/RBG Compliance cost center
Knowledge, Skills and Experience
Graduate/Post Graduate level degree in business / commerce / economics / law.
Around 10 years of experience in banking and / or relevant risk related fields, lawyer, providing internal / external assurance, etc. A strong sales / operational background would also be very useful.
Professional diploma / certifications in Compliance by renowned institutes.
Sound knowledge of international banking law / practice and products / services.
Specific and / or transferable knowledge / experience related to compliance / AML / Central Bank regulations.
Team player and participation experience in variety of banking initiatives and solutions.
Excellent decision making ability and administrative and interpersonal
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Act as the focal point to deal with regulatory authorities on compliance issues pertaining to CIBG/RBG related businesses.
Disseminate written policies and procedures related to compliance activities.
Provide assurance to Management that all processes/controls at CIBG/RBG are in line with regulatory requirements. Pro-actively escalate critical issues (compliance / regulatory) that affect the bank; take timely actions to ensure bank is not investigated, charged, fined or publicly castigated by any regulatory authority.
Supporting the business by providing compliant solutions and advice to regulatory issues/obstacles and intervene where necessary to stop a transaction/process/business proposal.
Assist business in obtaining regulatory approvals; New Branch / representative office Licenses, Product Launches, Outsourcing, Mergers / Acquisitions etc.
Creating a well-built dynamic Compliance Team. Ensure strong ‘regulatory compliance culture’ evolves. Effective roll-out and/or re-engineer compliance processes for enhancing efficiencies after analyzing the trends and gaps.
Manage regulatory inspections. Ensure timely response of queries by regulators, law enforcement agencies; assuring the quality/integrity of information.
Key Result Areas
Maintain ongoing awareness of all applicable internal/external regulatory requirements that could impact the bank. Provide an update to Business Heads of CIBG/RBG, HO Compliance on keys issues, breaches, and violations (including US/UN sanction issues/other restrictions) and/or emerging legislation; develop and monitor action plans for closure of the same.
Advise/assist CIBG/RBG in obtaining necessary regulatory approvals for licensed activities – while keeping HO-Compliance fully advised and escalating any concerns.
To assist/co-ordinate with CIBG/RBG in the design and implementation of key business processes that have a direct impact on any compliance outcomes. Provide input and advice to CIBG/RBG so that all compliance related matters are effectively and efficiently resolved
Provide timely compliance comment/clearance on Screening Referrals, High Risk Customers On-boarding Referrals, Marketing/Advertising initiatives and SOPs received from various business segments of the bank are in compliance with applicable Regulatory and Mashreq compliance/AML policy requirements.
Conduct/roll-out specific AML, KYC and Sanctions Compliance training programs through on-line portal, as well as face-to-face class room type sessions at MLS ,as required and arrange necessary specialist training through external vendors as appropriate to raise standards of awareness (liaise with MLS as required)and ensuring the completion of the same, by the staff across the bank.
Act as the main point of contact and play a key role in facilitating regulatory examinations / external audits and assist business to ensure timely closure of any audit findings / action items resulting from regulatory/external/internal audit.
Conduct Compliance Monitoring of high risk activities and periodic internal reviews or audits to ensure that compliance procedures are followed.
Conduct investigations as necessary/appropriate or as directed/required by Regulators, AML & Sanctions unit or HO-Compliance.
Pro-actively recommend improvements to the frame-work / structure / workings of CIBG/RBG Compliance in line with business needs/plans and HO-Compliance guidelines.
Assist HO Compliance in formulating bank wide policies, especially AML & KYC policy, Annual MLRO Report, Sanctions policy on various high risk jurisdictions and conflict zones, Personal Investment Policy, etc.
Develop excellent professional rapport/relationship with all relevant Regulator/Authorities, ensuring full cooperation, timely/satisfactory resolution of any queries from them and timely delivery of all necessary regulatory reporting where required.
Share regular updates, communications and developments from a Regulatory aspect that are deemed to be of interest and importance for the business. This will assist in the development of compliance awareness and understanding. Where appropriate a summary of the business impact, if any, and the required actions being taken should also be explained.
Proactively liaise/coordinate/assist other embedded Compliance units as appropriate/necessary for timely/satisfactory closure of cross-group/pan-Bank issues as directed/in liaison with HO-Compliance – : Sales of Mutual Funds, Handling of court orders, AML Questionnaire by other banks, police cases, etc.
Ensure timely action on any subpoena received on any customer. Review of information documents requested and sending a consolidated package to foreign branch for onward submission to the court of law / attorney.
Develop and be responsible for the record keeping of all CIBG/RBG compliance records. Including account opening clearances, investigation files, transaction referrals and complaints received from the regulators/relevant authorities (If Any)
Train to meet skill/specialisation gaps and develop career growth plans for CIBG/RBG Compliance staff in (to retain/attract the right staff), including - ACAMS, Certified Compliance Officer Certification and other specialised programs covering Regulatory Compliance.
Plan, Manage and meet the budget expectations for the CIBG/RBG Compliance cost center
Knowledge, Skills and Experience
Graduate/Post Graduate level degree in business / commerce / economics / law.
Around 10 years of experience in banking and / or relevant risk related fields, lawyer, providing internal / external assurance, etc. A strong sales / operational background would also be very useful.
Professional diploma / certifications in Compliance by renowned institutes.
Sound knowledge of international banking law / practice and products / services.
Specific and / or transferable knowledge / experience related to compliance / AML / Central Bank regulations.
Team player and participation experience in variety of banking initiatives and solutions.
Excellent decision making ability and administrative and interpersonal
Apply to Job