Senior Officer, KYC/AML Compliance
Department
Compliance
Band/Level
SeniorOfficer
Location
Head Office
Contract Terms
OpenEnded
Length of Contract
Open-Ended
Expiry Date
Aug 14 2023
JOB SUMMARY:
To ensure that the Bank adheres to and is compliant with the laws, regulations and best practices pertaining to the conduct of Customer Due Diligence, Anti-Money Laundering e.g. the Proceeds of Crime and Anti-Money Laundering Act 2009 (and and subsequent amendments), CBK Prudential guideline /PG/08 Proceeds of Crime and Money Laundering (Prevention) and Combating the Financing of Terrorism etc.
KEY RESPONSIBILITIES:
To undertake Customer Due Diligence (CDD) as per the Law, Prudential Guidelines and the Bank’s KYC/AML Policy – 35%
- To review customer KYC/AML documentation and ensure that all the requisite documentation as per the KYC/AML standards/checklist has been provided and that the information contained therein is comprehensive and consistent;
- To ensure that adequate customer KYC/AML records are maintained for all the Bank’s customers as required by law;
- To prepare and maintain case management reports for all customers whose KYC/AML files they have reviewed;
- To screen all clients at the point of on-boarding against known sanction lists, Internal blacklists and PEP databases;
- To undertake customer risk profiling as per the Bank’s KYC/AML policy;
- To undertake regular money laundering/terrorism financing risk assessments;
- To assist in updating and maintaining internal blacklists against which customers are screened;
- To conduct Enhanced Due Diligence (EDD) on customers classified as High Risk as per the Bank’s risk calculator.
- To perform other duties as may be assigned by the Senior Manager and/or Chief Compliance Officers (CCO) from time to time.
Transaction monitoring and reporting of large cash transactions (CTRs) and suspicious transactions (STRs) to the Financial Reporting Centre (FRC) – 30%
- To review and analyse customer transaction reports on a regular basis with a view to identifying split cash transactions, large cash transactions and or any suspicious transactions for purposes of reporting to the Financial Reporting Centre (FRC;
- To follow up on alerts flagged by the AML monitoring tool and to document action taken to close the matters arising;
- To prepare and maintain reports (register) on all split transactions, large cash transactions and suspicious transactions identified;
- To request for additional supporting documentation or obtain explanations for transactions that are identified or flagged as suspicious by the automated transaction monitoring system.
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Development, Implementation and Enforcement of the Bank’s KYC/AML Programme – 7.5%
- To participate in the development, implementation and enforcement of the Bank’s Know Your Customer (KYC)/Anti-Money Laundering (AML) compliance programme.
- To participate and contribute to the development and enhancement of the Bank’s KYC/AML Risk Calculator; 7.5% Job Description Page 2 of 3
- To track and ensure that the agreed Turnaround Times (TATs) and Service Level Agreements (SLAs) agreed with other departments in the Bank are monitored and adhered to.
Leadership & Stakeholder Engagement – 7.5%
- To participate and assist management in promoting a culture of compliance with KYC/AML laws, regulations and policies in the bank through induction and conducting of regular training and sensitization sessions;
- To develop, implement and maintain a framework for the conduct of Know Your Customer (KYC)/Due Diligence and enforcement of the Bank’s Anti-Money Laundering (AML) compliance programme.
- To actively participate in industry forums and workshops so to keep abreast with new developments, best practices and/or changes in the laws and regulations related to KYC and AML;
- To coordinate and respond to inquiries or requests for information on the Bank’s KYC/AML programmes from the Regulator, Correspondent Banks and other interested parties;
Reporting – 20%
- To prepare and submit weekly activity reports;
- To prepare and maintain an up to date customer risk profiles register;
- To update and maintain a register of all client’s classified as Politically Exposed Persons (PEPs).
- To prepare and submit statutory / regulatory reports as required by the regulator with regards to KYC/AML.
- To prepare and maintain up to date KYC/AML compliance risk assessment reports as directed by the Chief Compliance Officer;
- To assist in the preparation of papers for the Management and Board giving updates on the status of compliance with the laws, regulations and policies related to KYC/AML.
KEY RELATIONSHIPS:
Direct Reports to this Position
Customers of this Position
- Operational Risk Committee (ORCO)
- All Branches and Departments
KNOWLEDGE; SKILLS AND EXPERIENCE REQUIRED FOR THIS ROLE:
- At least more than three years’ experience in a banking environment, working in a similar role and/or with experience in branch operations.
- Bachelors’ Degree
Competencies required for this Role
- Working with people
- Creating and Innovating
- Delivering results and exceeding customer expectations
- Planning and Organizing
- Learning and Researching
- Writing and Reporting
Accountability
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