Deputy Compliance Officer and Deputy MLRO – JPMorgan Chase & Co

Full Time @ Jobs in Qatar Sector: Other
  • Doha, Qatar View on Map
  • Date Posted : June 22, 2022
  • Salary: Negotiable
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About the job

The Compliance function assists management and staff in fulfilling their duty of compliance. The function provides a broad range of regulatory and compliance services and advice to all areas of JPMorgan Chase worldwide. Services include regulatory analysis of transactions and activities, formulation of regulatory and control policy, assistance in risk assessment, and new product development and implementation, assistance in the education of staff in regard to compliance policy and procedure.

The Deputy Compliance Officer role includes having overall responsibility in supporting Compliance Officer for:

  • Provision of pro-active advice to business management in the development of policies and procedures for the Qatar office, designed to achieve and ensure compliance with corporate and regulatory requirements, specifically the rules of the Qatar Financial Centre Authority (“QFCA”) and Qatar Financial Centre Regulatory Authority (“QFCRA”) in addition to US rules (where applicable) and corporate policies such as the Code of Conduct;
  • Promoting a strong Compliance culture throughout the JPMorgan Chase Bank N.A. – Qatar Financial Branch (“JPMorgan QFC Branch”), establishing Compliance priorities with senior management and communicating these priorities effectively;
  • Fulfilling the role of Deputy Compliance Officer, non-registered with QFCRA; establish and maintain the regulatory relationship for the JPMorgan QFC Branch with QFCRA, responding to QFCRA’s notices and requests;
  • Conduct an annual review to verify policies and procedures conform with the latest regulations;
  • Prepare an Annual Compliance Report to the Branch Manager and QFCRA;
  • Assist in the preparation and delivery of a JPMorgan QFC Branch compliance training and awareness programme;
  • Identifying and investigating potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required;
  • Advice in respect of handling of errors, client complaints, potential rule breaches, etc;
  • Advice in New Business Initiative Approvals involving business operations in Qatar, assessing Compliance/Regulatory issues/impact of proposed new products and services;
  • Liaison with internal and external auditors and assist in managing responses and actioning compliance issues raised in audit reports & Control Self Assessment reviews;
  • Advice to the Qatar office Local Operational Risk and Control Committee and Local Management Committee on Compliance priorities and issues, as permanent member, reporting;
  • Keep abreast of industry trends and “hot issues” and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed
  • Work as part of the MENAT regional Compliance team on:
  • .Tracking regulatory changes in the region, conduct impact assessment and make required changes to the policies and procedures
  • Supporting the execution of the MENAT compliance regional priorities /plans ‘including with a focus on the execution of the Saudi Plan
  • Supporting the expansion plans and ongoing initiatives in the UAE and Saudi Arabia.
  • Supporting /and tracking with the compliance regulatory submissions and global compliance initiatives (compliance risk assessments, reg management initiatives ) and support in the preparation of the Compliance, governance forums in Saudi Arabia
  • Monitoring and assessing on an ongoing basis:
  • The adequacy and efficacy of the firm’s written compliance policies and procedures
  • Compliance with the written compliance policies and procedures; and
  • The adequacy and efficacy of measures taken to address deficiencies

The Deputy MRLO role includes having responsibility for supporting MLRO for:

  • Overseeing the implementation of the firm’s AML/CFT policies, procedures, systems and controls in relation to this jurisdiction, including the operation of the firm’s risk-based approach;
  • Ensuring that appropriate policies, procedures, systems and controls are developed, established and maintained across the firm to monitor the firm’s day-to-day operations-
  • for compliance with the AML/CFT Law, these rules, and the firm’s AML/CFT policies, procedures, systems and controls; and
  • to assess, and regularly review, the effectiveness of the policies, procedures, systems and controls in preventing money laundering and terrorist financing;
  • Supporting and coordinating MLRO focus on managing the firm’s money laundering and terrorist financing risks in individual business areas;
  • Helping ensure that the firm’s wider responsibility for preventing money laundering and terrorist financing is addressed centrally;
  • Promoting a firm-wide view to be taken of the need for AML/CFT monitoring and accountability;
  • Receiving suspicious activity reports from JPMorgan QFC Branch personnel and reporting to Qatar authorities, where appropriate, and preparing and submitting periodic reports on anti-money laundering and terrorist financing activities;
  • Receiving, investigating and assessing internal suspicious transaction reports for the firm;
  • Making suspicious transaction reports to the FIU and report the Regulator about them;
  • Acting as back-up point of contact between the firm, and the FIU, the Regulator and other State authorities, in relation to AML and CFT issues;
  • Responding promptly to any request for information by the FIU, the Regulator and other State authorities in relation to AML and CFT issues in the absence of MLRO;
  • Monitoring the appropriateness and effectiveness of the firm’s AML/CFT training programme;
  • Reporting to MLRO and in the absence of MLRO the firm’s senior management on AML and CFT issues;
  • Keeping the MLRO informed of significant AML/CFT developments (whether internal or external);
  • Exercising any other functions given to the Deputy MLRO, whether under the AML/CFT Law, these rules or otherwise.
  • Acting as the GFCC contact for MENAT GFCC on the execution of the global projects (KYC mapping , AML risk assessments)
  • Supporting with the preparation of the GFCC regulatory reports with special focus on Saudi Arabia

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