Job Purpose
The Compliance and AML Advisor is responsible for managing and leading the organization's compliance and Anti-Money Laundering (AML) operations. This critical role ensures adherence to local and international AML laws, banking regulations, and internal policies while fostering a culture of compliance across the organization.
Key Responsibilities
Compliance Program Development:
- Design, implement, and manage comprehensive compliance programs in line with local, national, and international regulatory standards
- Develop and maintain policies and procedures to ensure organizational compliance with evolving legal and industry requirements
- Regularly update compliance protocols to reflect changes in the regulatory environment and best practices
Regulatory Monitoring and Reporting:
- Monitor regulatory changes and provide timely guidance on their impact on management and staff
- Oversee regulatory reporting processes, ensuring accurate and timely submissions to relevant authorities
- Serve as a liaison with regulatory bodies, managing audits, inspections, and communications effectively
Risk Assessment and Mitigation:
- Conduct regular risk assessments to identify areas of vulnerability in compliance and AML operations
- Collaborate with the Risk Management team to develop strategies to mitigate identified risks
- Lead internal compliance audits, report findings to senior management, and recommend corrective actions
Training and Awareness:
- Develop and deliver training programs on compliance obligations, including AML, data protection, and consumer protection
- Foster a culture of compliance by educating staff at all levels on regulatory requirements and organizational policies
- Provide regular updates on regulatory changes and reinforce adherence to established procedures
AML Policy and Procedure Management:
- Develop, implement, and oversee AML policies and procedures in compliance with local and international standards
- Monitor and review suspicious activities, ensuring timely filing of Suspicious Activity Reports (SARs) and effective investigations
- Maintain up-to-date knowledge of AML regulations and ensure company-wide adherence through proactive measures
Stakeholder Communication and Support:
- Provide expert advice to senior management and internal departments on compliance and AML-related issues
- Collaborate with departments such as Legal, Risk, and Operations to ensure integrated compliance strategies
- Serve as a trusted advisor to external auditors, legal consultants, and regulatory authorities during audits or assessments
Audit and Reporting:
- Prepare for and manage compliance and AML audits, ensuring proper documentation and evidence are available
- Oversee the preparation of internal and external reports for senior management and regulatory bodies
- Coordinate investigations into suspicious transactions and liaise with law enforcement or regulatory bodies as required
Continuous Improvement:
- Regularly review and enhance AML controls to align with regulatory changes and emerging best practices
- Lead efforts to streamline compliance processes, ensuring efficiency while maintaining high standards
- Stay informed of industry trends to maintain a robust and forward-looking compliance framework
Requirements
- Bachelor’s degree in law, Finance, Business Administration, or a related field
- A minimum of 10 years of experience in compliance, AML, regulatory affairs, or a similar role in banking or financial services, with at least 2 years in a managerial position
- Comprehensive knowledge of local and international regulations, including AML, KYC, GDPR, and other relevant laws
- Professional certifications such as Certified Compliance Officer (CCO), Certified Anti-Money Laundering Specialist (CAMS), or Certified Regulatory Compliance Manager (CRCM) are highly preferred
- Strong understanding of compliance management frameworks, AML policies, and related regulatory requirements
- Proven leadership and team management abilities, with a track record of successfully guiding teams to achieve compliance objectives
- Exceptional analytical and decision-making skills, with the ability to handle sensitive information with integrity and discretion
- Strong attention to detail and excellent problem-solving capabilities
- Proficiency in compliance management software and Microsoft Office Suite
- Excellent communication and interpersonal skills to effectively engage with stakeholders at all organizational levels
- Fluent in English (written and spoken)
*Only applicants meeting the strict criteria outlined above will be contacted as part of the shortlisting process.