Job description
Job Purpose:
Support the team & Compliance Manager during day-to-day operations, ensure compliance to Regulatory requirements and Mashreq’s AML/KYC policies and procedures, achieve business goals while adequately addressing Compliance-related issues so that the Bank is not overexposed to regulatory, reputational or other risks. In addition to maintain ongoing awareness new regulations set by Central Bank Egypt and interpret the same to relevant units within the organization to ensure adherence. In addition to implementing Compliance initiatives - determined / guided by HO-Compliance.
Key Result Areas:
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.
Assist the Compliance Manager in ensuring Bank’s internal procedures/policies remain compliant with regulations/changes and providing support to the relevant stakeholders as and when necessary.
Maintain a pro-active relationship with business, facilitating timely involvement to ensure compliant/workable solutions to business issues.
Assist the Compliance Manager to develop/maintain/update the KYC/AML Policy, as and when required/requested.
Assist the Compliance Manager to develop and impart Compliance, KYC and Sanctions related training programs (in conjunction with MLS) to all business group staff on an ongoing basis and as and when requested/necessary (including new staff within 3 months of joining) to raise awareness and ensure all staff understand their responsibilities/obligations.
Provide support for the enhanced due diligence process followed on businesses classified as high risk prior to account opening/credit proposals and provide decisions according. Review proposals on high risk relationships especially cases that are escalated to Senior Management/ Business Group Head and ensure that all risks are appropriately highlighted for sign-off.
Review the E-Name Checker referrals from branches/enabling functions/operation and provide Compliance feedback in accordance with the bank policies/CB regulations
Providing support to other compliance staff members in their respective areas as and when required.
Assist the Compliance Manager in garnering a strong compliance driven culture/environment within Business Groups/ Divisions.
Provide support to Assistant/Manager Compliance in creation of reports/MIS/MERs on issues of Compliance/AML and ensure that same are submitted in a timely manner to HO-Compliance after being vetted by the Compliance Manager.
Support the team & Compliance Manger to create the Regulatory Reports for accuracy and assist to ensure that the same are submitted to the Regulators in a timely manner after being vetted by the Compliance Manager.
Assist the Compliance Manager in providing seamless support to the regulator-The Central Bank Egypt during their onsite/offsite visits and ensure that any/all reports that are required by Central Bank Egypt/other regulators are in place and available at all time – any critical issues to be promptly escalated.
Support the implementation of Customer Screening through World-Check & other Negative Lists provided by HO/Central Bank Egypt across all business segments in business group.
Assist in the compliance related projects/UATs as and when required and ensure that they are successfully completed within the required time frame.
For the Controls & Assessment the following should be done: -
Regular Controls (self-assessment)
Self-assessment to be completed in accordance with the plan set on the relevant Group system (PRISM)including, but not limited to, the following:
Quality of disposition of SAS AML alerts.
CBE Letters
Payments Processing
KYC L3 Review…etc.
Among different controls that should be executed (e.g. monthly, quarterly, etc.), a dedicated control should be in place for the quality of disposition of AML alerts.
Quality of hits disposition should be checked on a sample basis as applicable to any department under review subject to the agreed monitoring plan.
Operating Environment, Framework and Boundaries, Working Relationships:
Operates in complex environments that are characterized by diverse local and international regulations; thus requiring multi-jurisdictional knowledge.
Familiarity with banking law and practices as well as MB policies and procedure and systems.
Working relationship at all levels requires good inter-personal skills and the ability to influence without authority, sell solutions and develop relationships – within Bank and Regulatory Authorities.
Problem Solving:
Analytical thinking and educative judgement are required because of the complex and unique nature of customer / country / regulations / systems or a combination.
Clear understanding of business transactions, initiatives and relationship requirements with close coordination with relationship team without losing focus on risk, regulations and control issues.
Regulatory, compliance and AML requirements coming from various countries would require a good understanding as well as local and international banking practices.
Decision Making Authority & Responsibility:
Contribute in the development of product, systems policies and procedures related to compliance and AML at bank-wide level.
Maintain and develop relations with Regulators and Business Units.
Responsible for administrative and office support.
Knowledge, Skills and Experience:
Around 3-4 years of experience in banking and / or relevant fields, e.g. law, commerce, risk /operational background would also be very useful.
Professional qualification in business / commerce / economics / law.
Basic understanding of international banking law / practice and products / services.
General overview/knowledge / experience related to compliance / AML / Central Bank regulations.
Ability to plan/organize
Commitment to results
Ability to influence & negotiate
Decision making ability
Team player and participation experience in variety of banking initiatives and solutions.
Good decision making ability and administrative and interpersonal skills
Computer literate and strong command of written and spoken English. Arabic is an advantage