To lead and manage day-to-day AML
& CFT follow-up and compliance activities for Client in Kuwait in order
to strengthen organizational capabilities through adopting leading practices
and ensure compliance with applicable regulations
and guidelines. To function as a key contributor in relation to daily AML/CFT issues and participate in individual and department goal development; providing appropriate responses and taking follow up actions on areas requiring attention.
Monitoring, Investigations and Follow-up
1. Supervise on a daily basis (including
through sample testing) the analysis and investigation of suspicious transactions and their review by Managers, making sure such functions are carried out efficiently by analysts.
2. Supervise and enhance the requirements
of customer identification and in verifying the compliance with such requirements.
3. Supervise on a daily basis the processes related to the implementation of and compliance with sanction regimes related requirements, especially the UN resolution implementation framework, including the immediate freezing of identified funds and assets linked to listed persons.
4. Supervise the review, development and
enhancement of the transaction monitoring system scenarios and rules.
5. Suggest, and on receipt of approval,
lead the implementation of any changes to the sanctions framework and the related standards and guidance documents.
6. Supervise on a daily basis the compliance assurance process for the bank (Kuwait), including by reviewing all related reports submitted and the implementation of the agreed plans. This entails overseeing and, when necessary, participating in visits to the different departments and branches.
7. Review potential Suspicious Transaction Reports (STR) to ensure they are being properly prepared and of high quality before they are passed to the executive manager for the final
decision.
8. Keep detailed records of suspicious cases under investigation, closed and reported, whether originating from the electronic system or otherwise.
9. Review and analyze trend and risk reports
and recommending actions to the Function Head.
10. Make sure all other reports and statistics are being prepared, submitted and maintained by relevant reporting staff.
11. Report/escalate on a daily basis to the Function Head any areas of concern or issues that require action-taking or immediate attention, especially compliance breaches or gaps.
12. Prepare periodic (monthly) management
reports highlighting the areas of suspicious transaction monitoring, investigation and reporting as well as the implementation of sanction regimes
and the bank's compliance situation.
13. Enhance performance objectives, development plans and execution of these plans regarding sanctions & investigations.
14. Communicate with the different bank departments and branches on issues related to KYC profiling data, investigation related requirements and sanctions.
15. Ensure preventive measures are taken
by business areas if there are any observations due to review of specific reports.
16. Participate in AML/CFT events and venues representing Client.
17. Coordinate for risk assessment studies
to be based on the trends of possible money laundering and terrorist financing activities and the concentrations of high risks areas.
18. Demonstrate knowledge of AML/CFT laws
and regulations, including local and international standards, guidance documents and best practices.
Documentation and Awareness
1. Coordinate with Regulatory Compliance
and Reporting function in order to ensure that CBK correspondences are streamlined and consistent.
2. Ensure that Client is abreast of the latest AML & CFT regulations in order to promptly advise business lines on the need of updating policies and procedures accordingly.
3. Ensure that changes to AML and CFT
policies and procedures as well as laws and regulations are clearly communicated to affected parties within Client in order to strengthen compliance.
AML & CFT Culture
Manage the coordination with the various functions/ units and conducting of trainings
to enhance awareness of AML & CFT and facilitate the establishment of an AML & CFT culture across the Client's Functions.
Change Management
Manage change through continuous improvement of AML & CFT systems, processes and
practices taking into account 'international leading practice', changes in
international standards and changes in the business environment which demand
proactive action plans.
Quality, Health, Safety,
& Environment
Ensure
compliance to all relevant quality, health, safety and environmental management
policies, procedures and controls across the AML & CFT function to guarantee
employee safety, legislative compliance, delivery of high quality
products/service and a responsible environmental attitude.
Authority & Decision
Making:
1. Key decisions having significant
impact on the AML & CFT function are referred to the Executive Manager AML
& CFT for approval before implementation.
2. The jobholder exercises financial
authority as per the level established by the Client management and stipulated
in the authority matrix.
