- Contributes in development of bank’s compliance procedures, forms and monitoring systems and develop process to continuously identify and remain current with all compliance requirements of the bank to keep pace with local regulations, requirements and international developments (if applicable), subject to approval of the Compliance and Corporate Governance Head.
- Coordinates with the Compliance and Corporate Governance Head for the initiation of policies and programs to encourage staff members to abide by regulation.
- Verifies full abidance by local laws and CBE regulations in all internal policies and procedures within the Bank to eliminate the possibility of exposure to penalties.
- Extends the corporate governance and compliance knowledge to all staff members and educate them thereon to avoid any violations that may result in penalties or fines to the bank.
- Updates staff with laws and regulations and any amendments thereto and update the dept. Website for easy reference.
- Monitors changes in laws, regulations and trends related to all rules and regulations governing compliance and corporate governance and update bank staff accordingly.
- Updates all changes and circulars to the Compliance Regulatory / Law Library website and advise all staff / concerned departments / business units within the bank of new policies, procedures and · regulations on Portal accessible to all staff members, by constant update of new regulations or procedures received from CBE / local regulators.
- Supports business units in researching regulatory inquiries related to compliance and corporate governance issues.
- Provides guidance for establishment of controls for mitigation of detected risks (ex. Financial exposure, Reputation, Legal action, etc..).
- Assesses the Risk to reach a correct balance between implementing bank strategy and abiding by controls to help achieving same without giving away controls /breaches.
- Conducts independent internal investigations for compliance related issues and coordinate with related parties to ensure timely implementation of corrective action plans in response to detected deficiencies and complaints.
- Participates in preparation of periodical report on compliance and corporate governance activities including comments / requirements, Board of Directors resolution (if any) and present to the Corporate Governance Head for approval.
- Provides on-going consultation to staff and provide day to day on the field training to different departments staff while discussing the different policies and procedures and products in absence of the Corporate Governance Head.
- University/College Degree.
- MBA or post-graduate studies is an advantage.
- CAMS, Corporate Governance, AML certification is a must
- Thorough knowledge of Compliance techniques, Corporate Governance, local laws, regulatory requirements, international guidelines and best practices
- in depth understanding of banking products, controls, Risk assessment processes and policies related thereto.
- Familiarity with bank’s different activities, including as an example operational, financial, quality assurance and HR procedures and regulations is a must
- 10+ years of experience in banking sector accompanied with minimum 5 years in a leading position preferably in Compliance.
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