A Compliance Officer (CO) responsible for the oversight, management, and administration of the development, implementation, and daily operational tasks for maintaining an effective Compliance Program (Program). A Head of Compliance is to be responsible for all areas of regulation and compliance in the Bahrain operation.
- The CO has unrestricted authority to review documents and information relative to compliance audit activities; access to employees, contracted professionals, agents, and other third parties retained by the organization.
- The CO oversees Department projects, supervises Department staff, and administers compliance activities.
Responsibilities:
The CO is responsible for performing the following duties:
- Developing, modifying, and implementing compliance policies and procedures;
- Administering compliance activities and supervising compliance staff;
- Monitoring compliance with the Code of Conduct;
- Maintaining compliance reporting systems;
- Evaluating, investigating, and documenting reports of non-compliant activity;
- Coordinating internal compliance investigations and routine audits;
- Developing and reviewing compliance education programs;
- Serving as coordinator for external investigations and inquiries related to the Program;
- Reporting compliance issues and activities on a regular basis to the Finance & Audit Committee of the Board;
- Preparing formal and informal responses to governmental investigations, inquiries, and requests with guidance from the Risk Management Officer and Senior Management as appropriate;
- Promoting compliance awareness throughout the organization through signs, emails, posters, displays, handouts, and activities;
- Recording activities requiring CO time and resources to document hours spent on compliance emails, phone calls, requested conflict of interest reviews, administrative responsibilities, and continuing education.
- To develop and implement all aspects of Anti-Money Laundering policies and procedures.
- To ensure the group has the necessary systems to facilitate compliance with the Central Bank of Bahrain (CBB) / local Anti-Money Laundering (AML) regulations.
- Report to the Board and Senior Management on critical AML issues requiring their attention.
- Carry responsibility for overseeing and monitoring all daily AML tasks and functions
- Monitor adherence to the requirements of the AML Manual, Compliance Manual and the status of any necessary corrective action.
- Act as coordinator between Operations and Operational Risk Management on the development and production of Key Risk Indicators (KRIs)
- Assist in the selection, creation, testing and implementation of new reports & Compliance related systems
- Liaise with HR to ensure that all ‘relevant’ staff receive AML and CBB regulatory training with the required frequency
- Development and production of Key Risk Indicators (KRIs)
Job Type: Full-time
Application Question(s):
- are you available locally
License/Certification:
- Associate of Certified Money Laundering specialist (Preferred)
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