Assistant Compliance

**CORE PURPOSE OF THE JOB**

To manage regulatory and reputational risk at the Bank.

**MAIN FUNCTIONS OF THE JOB**

**Assists the Manager in the overall management of Regulatory Risk**

- Ensure compliance with current laws, regulations, guidance notes and supervisory requirements or provisions
- Prepare a Compliance Functional Plan for the following year and obtain Audit Committee approval
- Report on progress with the Compliance Functional Plan for the year
- Prioritise legislation for analysing for the year
- Analyse the legislation pertaining to banking by preparing Risk Management Plans for each prioritized Act, Action Plans and ensure embedded in Departmental Manuals
- Inform management of legislative updates through legal alerts
- Monitor for non-compliance and maintain records of monitoring for audit purposes
- Prepare presentations for staff and regulators
- Submit returns to regulators such as for FAIS, FICA, etc.
- Prepare policies and procedures for relevant legislation
- Maintain and annually update the compliance manual

**Assists in Monitoring**

- Monitor compliance with legislation by conducting branch reviews
- Monitor legislative updates
- Advise Management and the Board of non-compliance with legislation
- Query non-compliance with staff and management and suggest corrective measures including disciplinary action where necessary
- Monitor submission of BA returns to the Registrar by other departments

**Assists in the overall management of Reputational Risk**

- Manage any negative publicity that could result in reputational risk to the bank or have other adverse consequences
- Monitor customer complaints and any threatened or actual events that could result in a reputational risk to the bank
- Inform management and directors of such events

**Assists in the management of Money Laundering Risk**

- Manages the activities of the AML Department
- Manages and mitigates Money Laundering and Terror Financing risk
- Develops and maintains the AML/CFT and Sanctions policies and procedures and recommends for approval on an annual basis - eg. RMCP
- Monitors development of, analyses and interprets the regulatory requirements in terms of the Financial Intelligence Centre Act (FICA) and associated Guidance Notes, Public Compliance Communications and Directives, the FATF 40 Recommendations and international best practice such as Wolfsburg Group, Basel Committee on Banking Supervision and Central Bank of Bahrain Directives
- Develops and maintains an appropriate risk-based approach (RBA) to Customer Due Diligence (CDD)/ Know Your Customer (KYC) obligations in terms of the FIC Act, industry standards and international best practice
- Provides oversight and guidance in performing and adhering to the Bank’s ODD obligations
- Develops and maintains the enhanced due diligence (EDD) requirements taking into account the high money laundering and terror financing (ML/TF) risk areas of the Bank
- Assesses the adequacy of applicable typologies and parameters selected for implementation in the SAS system
- Ensures that all regulatory reporting is conducted timeously, eg. CTRs, STRs.
- Ensures a comprehensive, efficient and effective sanctions and watchlist screening function by the implementation of an automated sanctions screening software to comply with local and international sanctions regulations, as well as financial crime risk mitigation measures
- Ensures annual training conducted to all staff on FIC Act obligations in line with their job functions
- Reviews branch compliance to AML/CTF matters by reviewing customer files and reports on findings to EXCO and Board
- Conducts regular reviews to ensure compliance with AML/CFT matters, eg. submission of reports, updating of watchlists, etc.

**Assists with Training requirements**

- Train staff and directors on legislation generally
- Provide intensive training to staff on important legislation e.g. Financial Intelligence Centre Act, the FAIS Act, etc.
- Conduct tests to ensure employees obtain the relevant level of expertise

**General**

- Preparing regular reports for EXCO and Board
- Assisting on Committees
- Conducting research and providing compliance opinions to Exco and Board
- Maintaining relationship with Group Compliance and submitting quarterly Compliance reports

**Assists in performing Information Officer Duties**

- Ensures Compliance by the Bank with the conditions for the lawful processing of personal information.
- Develops and maintains the policy on the eight (8) conditions for the lawful processing of personal information.
- Deals with requests made to the Bank pursuant to POPIA
- Works with the Regulator in relation to investigations conducted pursuant to Chapter 6 of POPIA in relation to the Bank.
- Ensures compliance with the provisions of POPIA.
- Develops, implements, monitors, and maintains a compliance framework

- Develops, monitors, and maintains a manual as prescribed in sections 14 and 51 of PAIA, as amended
- Develops intern