About the job
- Support the CCO & MLRO in managing day-to-day operations of Qatar Compliance unit, ensuring compliance to Bank’s AML/KYC policies/procedures and Regulatory requirements in Qatar (QCB).
- Represent the Bank in Qatar on all Compliance/AML/CFT/Sanctions related matters and extend managerial assistance on all such matters to the CCO & MLRO
- Support the business by providing Compliant solutions to regulatory obstacles and intervene where necessary to stop a transaction/process/business proposal.
- The role of Compliance Manager is not just restricted to monitoring compliance to statutory regulations/guidance notes issued by QCB &/or other regulatory authorities – the Compliance Manager must pro-actively and promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by either QCB or any other regulatory authority.
- Pro-actively liaise and appropriately escalate any Compliance related matters to IBG – Compliance and/or any issues raised by QCB/other regulators.
- Support CCO and MLRO in the implementation of Compliance initiatives in Qatar – as may be determined/guided by CCO and MLRO time-to-time.
Key Result Areas
- Support CCO and MLRO to maintain contact with QCB and other regulatory authorities/agencies to ensure a good and healthy working relationship exists – facilitate/coordinate between Branches and QCB as necessary – seeking guidance from IBG-Compliance as appropriate.
- Support CCO and MLRO to maintain ongoing awareness/current knowledge of all applicable internal/external compliance requirements and existing/emerging legal/statutory/regulatory environment – identifying any issues that could impact the bank.
- Support CCO and MLRO in ensuring Bank’s internal procedures/policies remain compliant with regulations/changes – providing guidance/advice to Branch Management as necessary.
- Maintain pro-active relationships with business, facilitating timely involvement to ensure compliant solutions to business issues.
- Promptly communicate all Regulatory Notices/Circulars to all concerned areas, providing accurate Arabic/English translations as necessary.
- Promptly escalate any high risk issues/violations/breaches to CCO & MLRO and IBG-Compliance and develop/monitor action plans for closure of the same.
- Support in developing/maintaining/updating the local Compliance/AML Manual and ensuring a copy is provided to all Branch Staff.
- Providing support to CCO and MLRO in AML/Compliance Training to all Qatar staff on an ongoing basis as required/necessary to raise awareness and ensure all staff understand their responsibilities/obligations with regard to Corporate/AML Policies and regulatory/legal/statutory requirements, etc.
- Encourage a strong compliance culture/environment in Qatar branches.
- Promote the self-identification and reporting of all compliance issues (capturing same on MERs) and sharing of issues that may have wider implications.
- Ensure that all Qatar Product Programs, SOPs etc. are in compliance with QCB requirements as well as Mashreqbank’s AML/KYC Policy – and that transactions are monitored accordingly.
- Support CCO and MLRO in developing & administering the AML reporting network across Qatar Branches to ensure it is working effectively and propose changes/highlight issues as necessary.
- Analyze suspicious transactions reported by units/branches, undertake investigations where required, and support the MLRO in submitting (as appropriate) STR (Suspicious Transaction Report) to QCB in a timely manner with complete and accurate information.
- Respond in a timely manner to Compliance/AML/Sanctions related queries/investigations of QCB/HO/Other Regulators/Law Enforcement Agencies, as well as provide expert guidance to branches/units upon referrals/queries.
- Liaise and support IBG-Compliance in implementation of Bank’s/Regulator’s Compliance Policies/Requirements and roll-out of related systems/initiatives across Qatar branches.
Key Result Areas (Continued)
- Provide all required assistance in driving the implementation of SAS AML System for Qatar – ensuring any mapping/scenario/parameterization issues in Qatar environment are appropriately resolved in a timely fashion, coordinating with all units/areas in Qatar and HO as necessary.
- Ensure alerts are monitored on an on-going basis with timely investigation/closure and recommend any changes to scenarios/parameters as may be appropriate in Qatar environment.
- Ensure to execute, efficiently and effectively, any other additional tasks assigned by the CCO & MLRO in managing financial crime and regulatory compliance risk in the country
General DMLRO responsibilities (as per QCB regulations) – Applicable if acting as DMLRO in addition to Compliance Manage:
- The roles and responsibilities that apply to the MLRO apply to the Deputy as MLRO.
- Moreover, the Deputy MLRO also functions and acts as the MLRO during the absence of the MLRO and while the position of MLRO is vacant.
- Ensure to be informed of the significant AML/CFT/Sanctions developments (whether internal or external)
Knowledge, Skills, And Experience (Continued)
- 7-10 years of banking experience with a good understanding of products/operations environment, in particular as regards US and Qatar.
- Professional qualification in business / commerce / economics / law.
- Sound knowledge of international banking law / practice and products / services.
- Specific and / or transferable knowledge / experience related to compliance / AML / Sanctions / Central Bank regulations.
- Computer literate and strong command of written and spoken English. Arabic is an advantage
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