Reference No. CDTHOCBO

Job Description:

Our banking client in Mauritius are looking for a dynamic Head of Compliance whose primary role is to develop and implement a compliance framework which enables the bank to consistently comply with local legislations, regulations and guidelines.

Responsibilities:

• Develop written AML/CFT policies and procedures that are approved by the Board and are implemented throughout the bank.
• The policies and procedures should ensure ongoing compliance with the regulatory requirements and controls.
• Ensure the enforcement the AML/CFT policies in the bank.
• Conduct enterprise-wide risk assessments of ML/TF risks including the timely assessments of new products and services as well as new technology and processes.
• Ensure systems resources, including those required to identify and report suspicious transactions, are appropriate in all relevant areas of the institution.
• Ensure that ongoing training programs on ML and TF are current and relevant and are carried out for all employees, senior management and the Board.
• Report regularly on key AML/CFT risk management and control issues, and any necessary remedial actions, arising from audit, inspection, and compliance reviews.
• Conduct periodic assessments of AML/CFT control mechanisms to ensure their continued relevance and effectiveness in addressing changing ML/TF risks.
• Carry out sample testing of compliance processes and review of exception reports to alert Senior Management or the Board of Directors of any non-adherence to AML/CFT procedures.
• Contribute to the development of policies but are not limited to: Sanctions; Anti Bribery; Privacy and Information Compliance; Third Party Management and Outsourcing; Employee Activities; Conduct Risk; Ethics; Surveillance, Compliance Assurance; Compliance Monitoring; Prudential Regulatory Compliance.
• Sign-off on the annual AML/CFT risk management plan.
• Setting out how ML/TF risk will be managed within Mauritius and its constituent parts, and the role to be played by AML/CFT Core Functional Leads and other regulatory compliance in order to achieve the risk management plan.
• Identification of the jurisdictional AML/CFT requirements, accountabilities and the process ownership and monitoring and testing ownership, as well as the determination of suitable staffing, hours required and secured budget in order to achieve the state of the AML/CFT function within risk appetite will be set out in the risk management plan, which will be reviewed quarterly.
• Preparing quarterly compliance reports, in accordance with the approved format, and in adherence to all established requirements for the Board/Committee reporting.
• Enhancing Governance by:

  • Providing a valued interactive program of support and compliance risk management services covering the assessment and reporting of Key ML/TF Risks across products, services, functions, legal entities, service centres and the jurisdiction as a whole.
  • Providing stakeholders with insight and practical solutions as well as credible challenge to improve the ethical control culture and conduct risk environment.
  • Timely reporting of significant local AML/CFT regulatory issues to local, overseas, regional, and global stakeholders.

• Maintaining on-going assessment and reporting of the of the AML/CFT function through the relevant governance committees
• Providing Stakeholder Support and Building Strong Relationships by:

  • Developing senior management relationships, inclusive of non-executive directors, the CEO, COO as well as product functional and entity/service line management.

• Ensuring that the regulatory change management requirements and processes, along with the regulatory AML/CFT control framework for existing requirements, are effectively operating within the country with respect to the identification, impact assessment and implementation of all applicable AML/CFT laws, regulations, rules and related processes, controls and reporting on impact of the bank.
• Informing the bank’s senior management and directors, and the business management of significant AML/CFT compliance matters that require their attention or action.
• Proactively anticipate and help the business and AML/CFT core functions plan for changes in the compliance and regulatory environment in the country.
• Provide support to AML/CFT compliance programs and business management on policy interpretation and “grey area” exposures.
• Be the “tone at the top” who sets AML/CFT compliance culture in the bank.
• Build and maintain strong relationships with other department heads, including Legal, Risk Management, including Operational Risk Management, and Internal Audit to create a supportive and seamless compliance and ethical control culture and an appropriate ML/TF risk environment
• Management and development of regulatory relationships.
• Coordinating as the key interface with regulators on compliance risk management issues and supervisory examinations.
• First point of contact for regulatory authorities on all AML/CFT issues

Requirements: Qualification and Skill

• Postgraduate degree, Professional qualification (i.e. Attorney preferred).
• ACAMS certificate or equivalent.
• Minimum 10 years working experience in banking, external auditing, risk and compliance or consulting in financial services sector with a minimum of 5 years in a senior management role.
• Experience in dealing with senior officials in government, senior management and industry.
• Extensive knowledge of AML/CFT compliance environment.
• Excellent communication and presentation skills
• Good analytical and reporting skills
• Being able to shape others thinking.
• Gets to the heart of complex problems and issues.
• Thinks broadly and strategically
• Open to new ideas and experiences.

If you wish to apply for the position please send your CV to Chalden Du Toit at cdutoit@caglobalint.com

Please visit www.caglobalint.com for more exciting opportunities.

Chalden Du Toit

Consultant

CA Finance

CA Global will respond to short-listed candidates only. If you have not had any response in two weeks, please consider your application unsuccessful however your CV will be kept on our database for any other suitable positions.

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