The Percent Hiring for Compliance Manager Job at Manama Full Time

Job ID: 00098

Purpose:

The duties include maintaining effective systems and controls for compliance with applicable requirements in Bahrain’s legislation, those set by the Central Bank of Bahrain, and those established under any other statute or regulator to which the Company is subject including the Anti-Money Laundering and Combating Financing of Terrorism.

Job Responsibilities:

• Ensure ongoing implementation of the compliance policy, framework and procedures.
• Maintain an updated compliance-reporting calendar including reporting formats, periodicity and due dates, and monitor compliance with the requirements, highlighting instances of non-compliance to enable timely corrective action.
• Review and monitor compliance, investigate instances of actual non-compliance and highlight non-compliance, if any.
• Advise on compliance implications of new laws and regulations in the country and monitor/ follow up to ensure compliance.
• Develop the required risk reports.
• Identify and monitor the operational risks.
• Developing stress testing on investments and credit risk.
• Oversee the cash position, current and projected, to ensure adequacy and compliance with Company’s policy.
• Establish and maintain the Company AML/CFT policies and procedures;
• Ensure the Company complies with the AML Law, any other applicable AML/CFT legislation under which the Company operates.
• Making external suspicious transaction reports to the Financial Intelligence Unit and the Central Bank of Bahrain Compliance Directorate.
• Taking reasonable steps to establish and maintain adequate arrangements for staff awareness and training on AML/CFT matters (whether internal or external).
• Produce annual reports on the effectiveness of the Company AML/CFT controls, for consideration by senior management and Audit Committee.
• Responsible for the Client on-boarding process, verifying KYC documents and approvals.
• Maintain and respond to CBB and FIU circulars and production orders, including monitoring the UN Resolutions, OFAC Freeze Orders against the Company client database.
• Oversee the Deputy MLRO, reviewing and approving any related reporting or external/internal correspondence.
• Handling FATCA and CRS matters of the Company and projects entities.

Requirements:

• Bachelor’s degree in Finance, Business or a related field.
• 7 – 10 years of working experience in similar role within a reputable financial institution in the GCC.
• Strong written and verbal communication skills
• Proficiency in Arabic language skills is highly desirable
• Possess knowledge of the Bahrain and CBB regulatory environment.
• Other related professional certificate would be an advantage, such as PRM, FRM, CAMS, International Diploma in Compliance, APRM, etc.

Employment Type:
Full-time

Job Type: Full-time

Education:

• Bachelor’s (Required)

Experience:

• Anti-money Laundering: 5 years (Required)
• compliance: 7 years (Required)