QNB3601 - Vice President Domestic Compliance Strategy & Supervision

About QNB

Established in 1964 as the country's first Qatari-owned commercial bank, QNB Group has steadily grown to become the largest bank in the Middle East and Africa (MEA) region.

QNB Group's presence through its subsidiaries and associate companies extends to more than 31 countries across three continents providing a comprehensive range of advanced products and services. The total number of employees is more than 28,000 serving up to 20 million customers operating through 1,000 locations, with an ATM network of 4,300 machines.

QNB has maintained its position as one of the highest rated regional banks from leading credit rating agencies including Standard & Poor's (A), Moody's (Aa3) and Fitch (A+). The Bank has also been the recipient of many awards from leading international specialised financial publications.

Based on the Group's consistent strong financial performance and its expanding international presence, QNB currently ranks as the most valuable bank brand in the Middle East and Africa, according to Brand Finance Magazine.

QNB Group has an active community support program and sponsors various social, educational and sporting events.

Job Purpose Summary

The incumbent will be responsible for conducting/managing the compliance function for the Group's domestic Strategic and supervisory Activities on a pro-active basis covering both Business and Regulatory domestic activities of all Business divisions & Subsidiaries operating in the State of Qatar. All efforts should be made to identify and assess the compliance risks associated with domestic activities of Business, Support and Operations divisions & Local Subsidiaries in light of applicable regulations of QCB, QFMA, QFCRA, QE and any other applicable statutory requirements, Group policies/procedures and industry standards and best practices.

Essential Duties & Responsibilities By Dimensions

• Shareholder & Financial:
• Identify and assess the Regulatory Compliance risk involved in the activities of Business, Support and Operations divisions & Local Subsidiaries conducted by QNB Group in the state of Qatar and provide the strategic and supervisory vision, directions and solutions to both Domestic and operations regulatory compliance departments and thereby reduce the risk of regulatory sanctions, which could result in financial losses/ penal actions and the associated damage of reputation of QNB Group
• Implements KPI's and best practices for VP, Domestic Compliance Strategy and Supervision
• Promote cost consciousness and efficiency and enhance productivity, to minimise cost, avoid waste, and optimise benefits for the bank.
• Act within the limits of the powers delegated to the incumbent and delegate authority to the respective staff and monitor exercise of the same.
• Demonstrate clear understanding of the important factors behind the bank's financial & non-financial performance
• Customer (Internal & External):
• Assist the EVP Domestic Compliance in Setting-up the compliance strategy for the domestic activities including Business, Support and Operations.
• Assist the EVP Domestic Compliance in identifying the strategic issues and the related solutions resulting from the performance of the tasks/activities as per the Group's annual compliance plan for the domestic activities of Business, Support and Operations divisions & Local Subsidiaries.
• Provide timely feedback and support to the EVP Domestic Compliance and to the Group Chief Compliance Officer on ad hoc matters, short or mid-terms projects to achieve the Group Compliance objectives as and when directed.
• Manage, guide and instruct all direct report staff to ensure meeting individual and departmental objectives and monitor their compliance with internal policies, rules and code of ethics and conduct.
• Maintain close contact across internal departments in order to anticipate and proactively address compliance issues as well as disseminate compliance culture.
• Provide all the necessary support to all business, Support & Operations divisions and Local subsidiaries to achieve their business objectives related to their domestic activities in line with the regulatory requirements as and when required.
• Provide information/inputs with regards to the Strategic plans on the domestic activities of Group's Business and operations Divisions & Local Subsidiaries to the EVP Domestic Compliance and to the Group Chief Compliance Officer in the former's absence to resolve the related strategic queries/issues raised by the regulatory authorities including but not limited to the following:
• Qatar Central Bank.
• Qatar Financial Market Authority
• Qatar Exchange.
• Qatar Financial Center Regulatory Authority.
• Other government bodies in Qatar like Ministries and General Authorities.
• On quarterly basis, collect/provide input data and information of the strategic activities performed related to all Business, Support and operations divisions & Local Subsidiaries to the EVP Domestic Compliance in order to construct Management reports by the Group Chief Compliance Officer to the Group Board Audit and Compliance Committee and Executive Management.
• Internal (Processes, Products, Regulatory):
• Build and maintain the Compliance Self-Assessment Framework related to Qatar operations and activities.
• Participate in developing and coordinating the delivery of plans to put in place compliance activity where it is otherwise absent or unsatisfactory.
• Assist the EVP Domestic Compliance in engineering, testing, implementing and reviewing new compliance Risk indicators and regulatory controls.
• Be responsible for aligning the Domestic Compliance Program to international standards and ensuring its continuous enhancement to identify compliance risks Build and maintain the Compliance annual and Strategic Training and Awareness Plans, materials and technologies.
• Establish the Risk Mapping register and update it periodically.
• Prepare the Compliance Annual and Mid-Term plan.
• Build the new methodologies and automated tools related to the Compliance Self-Awareness Questionnaires.
• Responsible for establishing and maintaining the Compliance Monitoring Programs (CMP).
• Be the owner and administrator of the Compliance Management System (CMS).
• Periodically review the compliance strategy based on the most recent risk assessments and change in priorities.
• Be responsible to identify the key compliance risk areas and their mitigation.
• Be responsible to assess/evaluate and approve any new products and services.
• Build and enhance the outsourcing framework and establish the key control monitoring tools and checklists covering this function.
• Be responsible to assess and evaluate QNB Divisions & Local Branches considering the yearly KPIs related to Group Compliance.
• Assist in performing regular and comprehensive compliance risk assessment for all domestic activities of Businessand Operations divisions and high-level assessment of the domestic subsidiaries to provide inputs to the annual Group Compliance plan.
• Execute approved Group compliance annual plan related to the strategic initiatives within Business, Support and Operations divisions & Subsidiaries and inform the EVP Domestic Compliance of any deviation of meeting the assigned target dates along with the reasons for the deviations.
• Provide, as and when required, impact assessment studies on the domestic activities of business and Operations divisions & Local subsidiaries of QNB Group due to new laws and regulatory requirements issued/received.
• Ensure appropriate follow up mechanism is in place to implement the new regulatory requirements across all functions (Business, Operations and Support) to ensure compliance with new laws and regulations or changes to the existing ones.
• Review and recommend improvement to the compliance-monitoring program developed for domestic activities and subsidiaries in light of regulatory changes and applicable best practices.
• Ensure appropriate advice and compliance opinion in relation to domestic activities of QNB Group's divisions & Subsidiaries including new services, products, deals and joint venture/collaboration agreements from regulatory compliance perspective are provided in timely manner, and recommend the proper application of relevant laws, regulations, and banking standards.
• Participate in promoting employees awareness of compliance issues by conducting in-house trainings in conjunction with Training Department for all employees with aim to promote an effective bank-wide compliance culture and educates/encourages managers and staff to be aware of the benefits of ethical conduct and compliance.
• Participate in the development of training materials/programs (both in English and Arabic) with focus on the domestic compliance issues such as but not limited to Code of Ethics, the concept of Chinese Walls and Whistle Blowing to prevent insider trading, fraud in addition to fostering the concept of need to know to manage Conflict of Interest.
• Assist in updating the Group Compliance policies & manuals in light of changes in regulatory requirements affecting the domestic activities of Group's business divisions & Subsidiaries, by provision of relevant inputs to the incumbent's superiors.
• Support the VP Domestic Business Regulatory Compliance and the VP Domestic Operations Regulatory Compliance and their teams and act as a backup in their absence as and when required.
• Participate in special assignments, projects and investigations as and when required.
• Assist in responding to regulatory authorities inquiries, allegations related to domestic activities of Business divisions and Subsidiaries of QNB Group.
• Submit draft reports to EVP Domestic Compliance on the activities performed within the division
• Submit draft reports to EVP Domestic Compliance on the efforts exerted to support the Compliance business and Operations departments along with QNB divisions to achieve their business objectives
• Assist the EVP Domestic Compliance in managing the affairs of the Domestic Compliance function.
• Manage a team of employees to carry out and conduct regular strategic domestic compliance activities related to Group Compliance divisions & Subsidiaries and optimize the utilization of the resources to achieve the preset goals, objectives and KPIs and ensure that TAT of the compliance inputs, feedback and/or confirmation is appropriately meet the strategic goals and objectives of QNB Group.
• Bring in significant leadership to the division/department, ensuring that effective controls and resources are available to manage and control work volumes.
• Oversee recruitment, provide motivation, guidance to employees and reinforce high standards concerning performance, and adherence to the Bank's values and mission.
• Continuous Improvement:
• Set examples by leading improvement initiatives through cross-functional teams ensuring successes.
• Identify and encourage people to adopt practices better than the industry standard.
• Continuously encourage and recognise the importance of thinking out-of-the-box within the team.
• Encourage, solicit and reward innovative ideas even in day-to-day issues
• Learning & Knowledge:
• Maintain very good understanding of all relevant laws, regulations, policies/ procedures and applicable best practices pertaining to the domestic activities of Group's Business divisions & Subsidiaries.
• Be fully aware and up-to-date on all Central Bank & Financial Market Authority rules and regulations, and maintain register for laws and regulation and ensure they are reflected in the related policies and procedures as appropriate.
• Diverse knowledge of Corporate, Retail, Private and Investment Banking and familiar with the Mutual Funds, Investment Products, Financial Services (Brokerage, Custody, Advisory, Managing Investment and Issuance).
• Sound knowledge of the objectives, main roles, and prudential controls of the regulatory authorities mainly QCB, QFMA and QFCRA in addition to the regulatory framework and structure, relationship and regulatory environment in the state of Qatar.
• Assist the EVP Domestic Compliance on the development/ enhancement of the skill sets of Group Compliance personnel and provide them with opportunities for career development. Also, identify areas for professional development of self and other Group Compliance personnel.
  
  

Education And Experience Requirements

• Bachelor degree with professional qualifications such as CPA/CIA/CCO/CISI/FRM.
• At least 12 years of experience in a major financial institution or Big 4 audit firm or both out of which the last 9 years at least should be in a supervisory role relating to Compliance.
  
  

Note: you will be required to attach the following:

• Resume/CV
• Passport
• ID Copy
• Educational Certificates
• Other