Job Description
Job Purpose:
- Assist Compliance Manager in day-to-day operations of Egypt Compliance unit, ensuring compliance to Bank's AML/KYC policies/procedures and Regulatory requirements in Egypt (CBE).
- Assist Compliance Manager in supporting the business by providing Compliant solutions to regulatory obstacles and intervene where necessary to stop a transaction/process/business proposal.
- The role of Assistant Compliance Manager is not just restricted to monitoring compliance to statutory regulations/guidance notes issued by CBE &/or other regulatory authorities - the Assistant Compliance Manager must pro-actively and promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by either CBE or any other regulatory authority.
- Assist Compliance Manager in implementation of Compliance initiatives in Egypt - as may be determined/guided by HO-Compliance from time-to-time
Key Results Areas:
- 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.
- Ensure Bank's internal procedures/policies remain compliant with regulations/changes providing guidance/advice to Branch Management as necessary.
- Assist in maintaining pro-active relationships with business, facilitating timely involvement to ensure compliant solutions to business issues.
- Assist in communicating all Regulatory Notices/Circulars to all concerned areas, providing accurate Arabic/English translations as necessary.
- Assist in developing/maintaining/updating the local Compliance/AML Manual and ensuring a copy is provided to all Branch Staff.
- Assist in AML/Compliance Training programs to all Egypt staff on an ongoing basis as required/necessary (including new staff within 3 months of joining) to raise awareness and ensure all staff understand their responsibilities/obligations with regard to Corporate/AML Policies and regulatory/legal/statutory requirements, etc.
- Ensure AML-Staff Declaration Forms are completed by all Egypt Staff.
- Assist in encouraging a strong compliance culture/environment in Egypt branches.
- Assist in preparation of all Reports/MIS/MERs on issues of Compliance/AML and ensure that same are provided in a timely manner to the Country Manager and HO-Compliance, as well as any reports that are required by CBE/other regulators any critical issues to be promptly escalated.
- Assist in ensuring that all Egypt Product Programs, SOPs etc. are in compliance with CBE requirements as well as MashreqBank AML/KYC Policy - and that transactions are monitored accordingly.
- Assist in developing & administering the AML reporting network across Egypt Branches to ensure it is working effectively and propose changes/highlight issues as necessary.
- Assist in analyzing suspicious transactions reported by units/branches, undertake investigations where required, and submit (as appropriate) STR (Suspicious Transaction Report) to CBE in a timely manner with complete and accurate information.
- Assist in responding in a timely manner to Compliance/AML related queries/investigations of CBE/HO/Other Regulators/Law Enforcement Agencies, as well as provide expert guidance to branches/units upon referrals/queries.
- Ensure implementation of Customer Screening through World-Check & other Negative Lists provided by HO/CBE across all business segments in Egypt.
- Provide all required assistance in driving the implementation of SAS AML System for Egypt ensuring any mapping/scenario/parameterization issues in Egypt environment are appropriately resolved in a timely fashion, coordinating with all units/areas in Egypt and HO as necessary.
- Once the SAS AML System has been implemented, ensure alerts are monitored on an on-going basis with timely investigation/closure and recommend any changes to scenarios/parameters as may be appropriate in Egypt environment.
- Ensure all transactions under any subsequent/new product launches in Egypt are appropriately mapped/covered in the SAS AML System
Knowledge, Skills and Experience
- Around 10 years of experience in banking out of which 5-6 Years in Compliance - AML
- Professional qualification in business / commerce / economics / law.
- Sound knowledge of international banking law / practice and products / services.
- Specific and / or transferable knowledge / experience related to compliance / AML / Central Bank regulations.
- Team player and participation experience in variety of banking initiatives and solutions.
- Excellent decision making ability and administrative and interpersonal
- Computer literate and strong command of written and spoken English and Arabic (both are essential).
