Compliance Officer - AML / CFT (Kuwaiti Nationals only)
Established in 1964 as the country's first Qatari-owned commercial bank, QNB Group has steadily grown to become the largest bank in the Middle East and Africa (MEA) region.
QNB Group's presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 28,000 serving up to 20 million customers operating through 1,000 locations, with an ATM network of 4,300 machines.
QNB has maintained its position as one of the highest rated regional banks from leading credit rating agencies including Standard & Poor's (A), Moody's (Aa3) and Fitch (A+). The Bank has also been the recipient of many awards from leading international specialised financial publications.
Based on the Group's consistent strong financial performance and its expanding international presence, QNB currently ranks as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.
QNB Group has an active community support program and sponsors various social, educational and sporting events. Role Summary:
Regulatory Compliance and Anti Money Laundering (AML) and Combating the Financing of Terrorism (CFT) culture throughout the organization. Assist in managing on a pro-active basis the compliance activities with the purpose of identifying and assessing the compliance risks associated with the business activities especially those related to regulatory and statutory requirements. Be responsible for performing regular and comprehensive AML/CFT compliance risk assessment and testing according to the approved compliance review plan.
Reporting on a regular basis on compliance matters, identified breaches and corrective action taken to Senior Compliance Officer. To ensure complete and proper implementation of regulations and guidelines. To develop and co-ordinate bank-wide continuous training courses regarding Central Bank's regulations and statutory requirements Role Description:
Assist the Senior Compliance Officer in ensuring sound AML/CFT and compliance policies and practices in order to protect QNB licenses, customer relations and related procedures.
Act within the limits of the powers delegated to the incumbent
Support achieving the goals as defined in the annual plans regarding AML/CFT and Compliance.
Support Customer Satisfaction, by supporting and promoting a strong AML/CFT and compliance culture and practices.
Ensure timely and accurate information to the Senior Compliance Officer, as and when required.
Provide efficient / optimum support to QNB departments in the assigned location, with regards to AML/CFT and Compliance
If needed, give assistance to the Senior Internal Control Officer and act as the backup for in case of his absence.
Maintain activities in accordance with Service Level Agreements (SLAs) with internal departments/ units to achieve improvements in turn-around time:
To assist in preparing and developing the annual Compliance plan which cover the Regulatory Compliance and AML/CFT tasks and activities.
Provide timely and accurate information to the external and internal auditors and the Compliance function as and when required.
Monitor adherence of business and changes to business practices and products to ensure adequate consideration and compliance of business to regulatory and statutory requirements.
Monitor the implementation of new regulations or amendments made to the existing regulations.
Monitor action taken on Central Banks inspectors' recommendations to ensure effective implementation.
Participate in conducting scheduled and ad hoc AML/CFT and compliance reviews as per the approved annual compliance plan.
Review new and amendments made to relevant policies, procedures, services and products to ensure that the implementation is within regulations and guidelines.
Review system changes and or enhancements of Central Banks returns to ensure that the implementation is within Central Banks guidelines.
Promoting AML/CFT employee's awareness by developing and coordinating bank-wide continuous training courses regarding AML/CFT and compliance issues and requirements.
Submit periodic reports to Senior Compliance Officer detailing cases of non-compliance with Central Banks' regulations and statutory requirements.
Liaise with the regulator whenever required, respond on queries and communicate issues raised by them and follow up such issues until final resolution.
Coordinate between the regulator inspectors and bank's divisions, Departments and Branches to facilitate their mission.
Participate in carrying out the mandatory verifications and reviews required by the regulator.
Conduct scheduled and ad hoc AML reviews as per the approved annual review plan.
Assess the anti-money laundering review conducted by the business units / branches for the daily and monthly reports with immediate reporting on non-compliance cases.
Review new and amendment made to relevant policies and procedures, services and products to ensure that the implementation is within AML regulations and guidelines.
Performing regular testing to ensure full compliance to KYC policy, which should include all type of customers and counterparties.
Perform the regular monitoring of the customer names and transactions to identify any unusual transactions, through Safe Watch and MQ Series
Perform control over internal staff accounts to ensure compliance with AML/CFT instructions.
Escalate issues as required
Participate in special assignments & investigations as and when required.
Provide advices and solutions as and when required, and recommend improvement in bank's business and support activities to be in line with new and or amended Central Banks' regulations and statutory requirements.
Comply with all applicable legal, regulatory and internal compliance requirements including, but not limited to, the QNB Country Compliance manual; Group Compliance Policies and Procedures (Anti Money Laundering & Counter Terrorist Financing, Sanctions Policy, Data Protection Policy, Fraud Control Policy, Whistle Blowing Policy, Conflict of Interest and Insider Dealing Policy).
in accordance with the Branch Governance manual, contribute to and comply with the Branch's Risk Framework, consider Risk Appetite and promote a positive Risk Culture:
Understand and effectively perform your role under the Three Lines of Defence principle to identify, measure, monitor, manage and report risks.
Ensure systematic good outcomes for clients in accordance with Conduct Risk policy.
Support the framework of RCSA, KRI, Incident reporting and remediation, as appropriate, in accordance with the Operational Risk Management requirements.
Ensuring high standards of data protection and confidentiality to safeguard commercially sensitive information. Maintaining utmost confidentiality with regards to customer and internal bank information obtained during the course of business and provide such information on a need to know basis only to Senior Management of QNB, Audit and Compliance functions, and relevant Regulators.
Maintains high professional standards to uphold QNB's reputation and to strengthen its market leadership position. Qualifications:
The successful candidate will have excellent oral and written communication skills (incl. report writing) in English and Arabic
3-5 years' experience of control/audit procedures and knowledge of compliance in banking institution or regulatory agency preferably in compliance or internal audit function.
Professional qualifications such as CPA/CIA/Compensation Analysis/CAMS
Note: you will be required to attach the following:
1. Resume / CV