Vice President Compliance

4 weeks ago

Doha, Baladīyat ad Dawḩah, Qatar Lesha Bank Full time

Lesha Bank is searching for the greatest talent and brightest minds to contribute to the current growth phase at our bank. We are looking for top-tier individuals who are passionate and hungry to add value from day one. Every day at Lesha is different, presenting a new challenge with the opportunity to contribute and grow. We are looking for a Vice President - Compliance.

The Vice President - Compliance will oversee the compliance of the Bank with local Anti-Money Laundering and Combating Financial Terrorism (AML/CFT) laws and regulations set by the applicable regulatory bodies.

Key Responsibilities:

  1. Manage the Compliance Program to achieve conformity with laws, regulations, and Bank's policies and procedures.
  2. Supervise and support department members to ensure proper execution of tasks and provide presentations and training to create awareness of AML/CFT compliance related issues.
  3. Oversee daily management of Compliance Risk, projects, system and data management, Customer Acceptance, Sanctions, and develop strategic directions for functional areas of responsibilities.

Maintain the necessary infrastructure, tools, and methodologies in the department and manage the resources accordingly for the Bank to execute its responsibilities in the areas below:

  • Compliance Risk assessment and monitoring program,
  • Monitoring and investigation,
  • Customer Acceptance,
  • Sanctions,
  • Systems and Data Management, Reporting,
  • Training and Development,
  • Projects.

Strategic Direction and Compliance Plan:

  • Support the Compliance department in setting the department strategy and ensuring its alignment with Bank strategies and objectives and with laws and regulations.
  • Provide input to the Compliance team in preparation of the Annual Compliance Plan, setting and reviewing objectives and business performance indicators for improving the Bank Compliance Department.

Compliance Risk Management:

  • Establish a framework to identify, assess, monitor, and control compliance risks within the Bank and businesses (including money laundering and regulatory risks). Report compliance risks and failures to the Head of Compliance for necessary measures.
  • Perform Risk Assessments on the bank's environment and raise findings as per bank adopted control and risk frameworks. Identify risks using the information and analysis of the Risk Matrix and maintain the department risk assessment to act proactively against risks.
  • Conduct effective AML risk assessments and establish the compliance monitoring program covering AML monitoring and testing activities.
  • Conduct tests and analyses of the bank's activities and provide recommendations on any observations resulting from non-compliance.
  • Identify gaps and develop appropriate solutions to ensure compliance and oversee their application by the relevant departments.
  • Review risk mitigation plans and follow up on the implementation of risk controls.
  • Review new products as part of the AML sign-off process.

Compliance with AML/CFT Policies and Procedures:

  • Set and implement a compliance plan for the Bank in coordination with concerned committees and central departments.
  • Maintain adequate AML/CFT policies and procedures to ensure compliance with local AML/CFT laws and regulations.
  • Coordinate with business and support functions to ensure adherence to compliance policies and procedures, particularly those relating to KYC, anti-money laundering, anti-corruption, and counter-terrorism financing.
  • Participate in the validation process of products and services to ensure compliance with local laws and regulations.

Clients Acceptance, Monitoring & Reporting:

  • Review clients' accounts to ensure documentation in accordance with legal KYC standards. Monitor clients' activities to detect unusual or potentially suspicious transactions.
  • Conduct investigations on critical information regarding customers and report results to Management and related authorities.
  • Monitor the clients' files review and participate in the confirmation of clients' acceptance.

Correspondent and Foreign Banks Inquiries:

  • Respond to correspondents and foreign banks inquiries about customers and internal compliance policies, ensuring shared information respects the Bank's policy.
  • Conduct due diligence for existing and/or new financial institution relationships, providing recommendations and highlighting risks.
  • Control AML questionnaires filled as requested by international correspondent banks.
  • Review various investigations received to determine necessary preventive measures.

Transaction Monitoring:

  • Review and manage the AML Monitoring System alerts covering high value/suspicious transactions and validate compliance with the bank's internal policies.
  • Perform periodical AML reviews of executed deals to ensure satisfactory client KYC and CDD performed.
  • Run periodic monitoring procedures on risky accounts to ensure compliance with set policies and procedures.

Certification:

Certified Anti-Money Laundering Specialist.

Experience:

  • Advanced knowledge in organization techniques, methodologies, and banking operations.
  • Proven experience in people management, strategic planning, risk management, change management, and project management.
  • Extensive experience in audit/compliance roles in banking and financial services.
  • Consultancy expertise in financial services compliance/regulatory background.
  • Education: Bachelor's degree in law, finance, business administration, or a related field (Master's degree or professional certifications such as CAMS, CFA, or CPA preferred).
  • Experience: Minimum of 4-6 years of experience in compliance within the banking or financial services sector.
  • Knowledge: Strong understanding of local and international regulatory frameworks, including AML, KYC, FATCA, and MiFID II.
Seniority level

Mid-Senior level

Employment type

Full-time

Job function

Administrative

Industries

Banking and Investment Banking

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