Compliance Manager

3 weeks ago

Muscat, Muscat, Oman Mashreq Full time

Job Purpose

  1. Maintain ongoing awareness/knowledge of all regulations set by the Regulators and assist the Head of Compliance/MLRO in interpreting the same to the relevant units within the organization to ensure adherence.
  2. Support the Head of Compliance/MLRO during the day-to-day operations of the unit, ensuring compliance to Regulatory requirements and Mashreq's AML/Sanctions/ABC policies and KYC Standards.
  3. Support the Head of Compliance/MLRO in advising business to achieve their business goals while adequately addressing Compliance-related issues so that the Bank is not overexposed to regulatory, reputational or other risks. Extend support to business units by providing compliant and workable solutions to regulatory requirements and intervene wherever necessary to stop a transaction/process/business proposal.
  4. Pro-actively and promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by either Home Regulator or any other regulatory authority.
  5. Support the Head of Compliance/MLRO in the implementation of Compliance initiatives in IBG - as may be determined/guided by IBG HO-Compliance from time-to-time.
  6. Act as backup in the absence of the Head of Compliance and MLRO to ensure continuity as well as facilitating compliance within the bank.
  7. Provide support to the Head of IBG compliance with IBG Compliance matters, adhoc projects and special assignments as and when required.

Key Result Areas

  1. 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.
  2. Assist the Head of Compliance/MLRO in ensuring Bank's internal procedures/policies remain compliant with regulations/changes and providing support to the relevant stakeholders as and when necessary.
  3. Maintain a pro-active relationship with business, facilitating timely involvement to ensure compliant/workable solutions to business issues.
  4. Assist the Head of Compliance/MLRO to develop/maintain/update the AML/sanctions/ABC Policies and KYC Standards, as and when required/requested.
  5. Assist the Head of Compliance/MLRO to develop and impart Compliance-related training programs (in conjunction with MLS) to all business group staff on an ongoing basis and as and when requested/necessary to raise awareness and ensure all staff understand their responsibilities/obligations.
  6. Provide support for the enhanced due diligence process followed on businesses classified as high risk prior to account opening and provide decisions accordingly. Review proposals on high-risk relationships that are escalated to compliance and ensure that all risks are appropriately highlighted for sign-off.
  7. Work with the Head of Compliance/MLRO and independently in reviewing the suspicious cases of AML, Sanctions and ABC. This includes investigation, gathering relevant documents/data, providing insights/recommendations to the Head of Compliance/MLRO to make informed decisions in reporting such cases to the regulator.
  8. Assist the Head of Compliance/MLRO in garnering a strong compliance-driven culture/environment within Business Groups/Divisions.
  9. Support the Head of Compliance/MLRO to prepare the Regulatory Reports and ensure that the same are submitted to the Regulators in a timely manner after being vetted by the Head of Compliance/MLRO.
  10. Assist the Head of Compliance/MLRO and act promptly in his absence in providing seamless support to the relevant regulators – any critical issues to be promptly escalated.
  11. Assist in the compliance-related projects/UATs as and when required and ensure that they are successfully completed within the required time frame.

Knowledge, Skills and Experience

  1. Around 4-5 years of Financial Crime related experience in banking and/or relevant fields.
  2. Good understanding of Oman Banking and Financial crimes related laws.
  3. Ability to plan/organize.
  4. Commitment to results.
  5. Ability to influence & negotiate.
  6. Team player and participation experience in a variety of banking initiatives and solutions.
  7. Good decision-making ability and administrative and interpersonal skills.
  8. Computer literate and strong command of written and spoken English and Arabic.
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