Duties and Responsibilities:
Gather information to respond to any requests for information by regulators or law enforcement agencies in relation to money laundering prevention, investigation, or compliance
Regulatory Compliance
- Keep updated with latest regulations / instructions pertaining to all local compliance requirements for branches of foreign banks operating in the Kingdom
- Ensure relevant controls for pertinent regulations, including AML-CFT-Sanctions-Fraud, are implemented as per regulatory requirements and/or market practice
- Maintain an MIS on the regulatory updates/circulars
Customer Risk Asessment
- Review and update periodic risk assessment of new and existing branch customers per the frequency defined for each risk category
KYC / CDD
- Check that all account opening requirements are completed as per bank's policy and local regulations
- Review to ensure that proper KYC and CDD are conducted to establish customer profile, including source of income and that name screening against negative lists is performed effectively
Reporting
- Prepare exception reports on irregularity identified during KYC reviews
- Compile data and prepare reports to HO Compliance in a timely mannner
Compliance Testing
- Test processes and procedures on a risk basis to identify gaps
- Report gaps to relevant stakeholders and monitor corrective action plans/deadlines related to internal finding, internal/external audit and regulatory observations
- Prepare the branch’s Internal Risk Assessment Report (IRAR)
Regulatory Reporting
- Assist in timely Annual FATCA & CRS Reporting, where applicable
- Monitor and track filing of all regulatory reports
Compliance Committee of Management (CCM)
- Compile the Branch Compliance Committee Meeting agenda
- Assist in holding committee meetings with its TORs
- Track open matters till closure
- Prepare minutes of BCCM meetings in a timely manner
HO Compliance Group Oversight
- Assist in informing HO Compliance on notices of upcoming regulatory inspections/ examinations, meetings with regulators/law enforcement agencies, penalties levied and other high-risk gaps
- Assist in reporting compliance breaches in regulatory inspections / examinations and Internal Control reviews to HO
- Assist in reporting unmitigable conflicts between Compliance requirements of home and host countries to HO
Education & Experience
Graduate with minimum 16 years of education. Candidates with added certifications e.g. ACAMs etc. will preferred.
Minimum 5 years of experience in Compliance department of banks
Note: This job is for one of our clients (NBP Pakistan) and it is an onsite role in KSA
LINRCO Pakistan is dedicated to being the gateway for skilled Pakistani talents, providing them with unprecedented access to employment opportunities. Our mission transcends traditional recruitment; we focus on building strong connections, nurturing essential skills, and contributing to the economic vitality by seamlessly integrating Pakistani professionals into the global workforce. Join us on this journey of empowerment and innovation, as we make strides towards a future where talent knows no borders.
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