The National Bank of Dominica Ltd is a leading indigenous bank in the Eastern Caribbean Currency Union. We are looking for someone with the relevant skills and competencies to take on the position of Compliance Manager.
the Compliance Manager is responsible for managing the Bank’s global Anti-Money Laundering (AML) and Anti-Terrorist Financing (ATF) program to ensure that the Bank operates within the regulatory framework. The incumbent provides strong support to the Executive Director, Risk and Compliance in his role.
SPECIFIC RESPONSIBILITIES include:
- Knowledge of AML/ATF regulations, policies and procedures. Assist in the implementation of AML/ATF policies and procedures. Keep abreast of changes to AML/ATF policies and ECCB regulatory requirements and international standards such as Financial Action Task Force and Bank. Ensure relevant business areas maintain compliance with new/modified requirements.
- Reviews, recommends/drafts and implements approved changes to NBD’s Compliance and Anti-Money Laundering policies and procedures based on changes in laws and regulations, including anti-money laundering legislation of money and the financing of terrorism,
- Prepares special procedures to support business units in implementing guidelines.
- Ensure that required reporting activities are completed in an accurate and timely manner as prescribed. Liaise with the Director and officers of the Financial Intelligence Unit, in accordance with relevant legislation. File suspicious activity reports to the Financial Intelligence Unit and prepare production orders, maintain logs and records and maintain confidentiality as required by legislation. Prepares personal statements / affidavits to support AML cases and appears in court when necessary.
- Assist in the development of adequate action plans to ensure corrective action and non-recurrence when instances of non-compliance with policies and procedures are identified.
- Ensure compliance of daily transactions with local regulatory requirements.
- Ensure the integrity of information on the list of accounts without recommendation.
- Maintain a complete list of low/high risk accounts.
- Ensure that client relationships are properly assessed in terms of risk and that risk assessment worksheets are completed in a timely manner for all high risk client relationships.
- Maintain a robust monitoring system for annual reviews and ensure reviews are completed in a timely manner. Provide assistance to business units to ensure accurate completion and analysis of financial information received from clients, as well as to ensure site visits are documented in the required format.
- Ensure that sanctions screening requests are processed in a timely manner.
- Ensure that information requested for court orders is sought and processed in a timely manner.
- Ensure that unusual business activities are managed in a way that avoids exposing the bank to unnecessary risk.
- Provides professional leadership, coaches, identifies needs and develops the compliance team to meet the skills required to effectively perform and facilitate their career development.
- Works closely with business units to ensure each business unit has an annual compliance training program and monitors quarterly progress.
- Participate in the Bank’s AML training program to support the reliable implementation of regulatory requirements and policies, practices and procedures. Provide advice/coaching and training on AML/ATF requirements to team members.
- Leads, designs, recommends and/or ensures that relevant training is provided to staff, senior management and the Board of Directors in areas deemed necessary by the results of compliance reviews, observed trends and/or the necessary, in liaison with human resources for a smooth implementation. Coordinates the conduct of mandatory annual training. Liaises with the Human Resources department to ensure that Risk Department staff receive the required AML/CFT training.
- Prepares the strategic compliance program for the NBD Group, schedules reviews and ensures that all major risk areas are properly covered and implements it in a timely and efficient manner. Incorporates compliance/AML related areas into the annual budget process.
- Performs the annual risk assessment of the Bank’s AML/CFT function and reviews the effectiveness of the compliance program at least annually, advising the Executive Director, Risk and Compliance, of existing gaps and recommendations to address them .
- Liaises closely with internal auditors, external auditors and consultants, ECCB and other regulatory bodies. Represents the Compliance function on various committees as required, providing accurate information and timely reporting as required. Obtains a comprehensive understanding of compliance scope and results achieved to make sound recommendations and take necessary actions to improve performance and compliance.
- Prepares monthly and other time-bound reports, including but not limited to Bank compliance with regulatory and auditing requirements.
EDUCATION AND WORK EXPERIENCE
- Bachelor’s degree in risk management, business administration, accounting, economics or finance.
- Possesses professional-level certification in anti-money laundering, such as Certified Anti-Money Laundering Specialist (CAMS) or FIBA Certified Professional in Anti-Money Laundering (CPAML).
- Have a compliance certification such as Certified Regulatory Compliance Manager (CRCM) or Governance Risk and Compliance Certification (GRC).
- Work experience of at least 8 years of experience in banking/financial services, at progressively higher levels of responsibility, of which at least three (3) should have been in a dedicated compliance/anti-compliance position money laundering and the fight against the financing of terrorism at the expert level.
- Thorough knowledge of Banking Law, local Anti-Money Laundering / Anti-Terrorist Financing Legislation and Financial Action Task Force Principles, NBD AML / CFT Policies / Bank Regulations and Guidelines ‘ECCB.
- Expert understanding of ECCB prudential return requirements and transaction monitoring systems.
- Expert understanding of the procedures to be followed when performing client/financial risk assessments.
- In-depth knowledge of the AML risks inherent in the products and services offered by financial institutions.
- Computer literacy with intermediate to advanced proficiency in the Microsoft suite.
SKILLS AND COMPETENCES
- Client orientation
- Strategic thinking
- Build Strategic Relationships
- Strategic influence
- Change of direction
- Focus on results
- Self-knowledge and personal development
- Proven integrity and initiative
- Strong demonstrated skills in risk analysis and assessment
- Demonstrated interpersonal and communication skills – verbal and written
- Empathetic, friendly and flexible team player
A competitive salary and benefits commensurate with qualifications and experience will be offered to the selected candidate. Please send your resume and cover letter confidentially by June 6, 2022 to the attention of Mr. Kareem Bertrand to [email protected]
Only selected candidates will be contacted.