Financial Crime / (DMLRO)

Job Title: Financial Crime / (DMLRO)

Division Information Technology

Location: BDB Head Quarter

JOB PURPOSE

The role holder is responsible for monitoring compliance policies and procedures and assisting the Head of Compliance & AML in ensuring adherence to legal and regulatory requirements specifically those related to financial crime. The role holder is also responsible for liaising with the departments within the Bank as part of the implementation of effective Anti-Money Laundering controls.

Core Responsibilities

• Provide support to the Head of Compliance & AML in implementing AML policies and procedures for BDB by verifying adherence to bank’s policies and regulatory requirements.
• Liaises with BDB’s stakeholders on any matters or issues related to AML.
• Prepare compliance manuals and related policy guidelines and supports in conducting annual reviews on the same.
• Monitor implementation progress of action plans designed to correct incidents of non-compliance or Click or tap here to enter text. Job Holder Line Manager potential issues in policies, systems or employee conduct.
• Support in testing compliance and control processes in ensuring that implementation meets legal and regulatory obligations, and business is conducted in accordance with BDB’s AML policies.
• Follow up on regular and ad –hoc information / reports requested by the Central Bank of Bahrain (CBB) and Ministry of Interior (MOI) and ensures that the concerned information / reports are submitted in a timely manner.
• Assist Head of Compliance & AML in corresponding with the CBB on AML related issues, co-ordinate their examination visits, issue reports on their observations, communicate these comments to the concerned departments and ensure adherence to the CBB’s comments and observations.
• Manage and ensure timely update of the compliance management system with the requirements related to AML.
• Perform reviews of transactions, client files (KYCs), alerts or in case of any issues observed.
• Prepare periodic reports for the Head of Compliance & AML informing on the status of compliance with the AML Laws and Regulations, findings and issues of concern. This also includes preparing and following up action plans to ensure closure of findings.
• Attend internal meetings with the various business units in order to come up with views on AML requirements and follow up with the Department Heads on pending AML issues.
• Coordinate with the internal and external audit and ensure the implementation of audit requirements /observations pertaining to AML.
• Maintain detailed and comprehensive knowledge of all factors affecting industry compliance with AML requirements and keep abreast of developments in the Financial Crime field.
• Extend assistance to peers within the Compliance Department and cover for any of them during them absence as will be advised and instructed by the line manager.

Self - Management Responsibilities

• Defines performance goals at the start of the year in discussion with the reporting manager and ensures that the goals are achieved during the year.
• Identifies the training and development requirements for self and agrees on them with the reporting manager to ensure that the required trainings are arranged and attended.

Minimum Qualifications

• Bachelor’s degree in accountancy, Business Administration, or any other relevant field

Professional Certifications

• Certified Anti-Money Laundering Specialist (CAMS)

Minimum Years of Experience

• 2 - 4 years of experience

Nature or Field of Experience (along with Number of years required)

• Minimum of 2 years of experience in compliance and AML field

Job Specific Skills

• In-depth knowledge of CBB laws and regulations

• Strong knowledge of compliance standards and policies

• Strong knowledge of AML Laws, Regulations and Best Practices