Reporting to the Head of Compliance – (Kuwait) to ensure that the activities and businesses of Kuwait related to Anti-Money Laundering (AML) are carried out in accordance with local rules and regulations.
To assist in the regular monitoring and reporting of AML activities for Kuwait and assess the effectiveness and efficiency of the controls and processes in Kuwait to ensure compliance with Internal Group Policies and Procedures and local regulations.
Assist the Head of Compliance in ensuring AML compliance with local regulatory requirements for Kuwait activities and business via concise, accurate and relevant reporting of suspicious activities.
Periodically assess and review the AML and CFT policy to ensure that Kuwait has an effective policy in place and to execute proper due diligence on customers including on-going CDD and ensuring that it is maintained up-to-date.
Assist in ensuring that Kuwait complies with FAB’s Sanctions policies and procedures by undertaking monitoring of transactions and ensuring that all staff are appropriately trained.
Participate in developing and executing of the risk-based Compliance Monitoring Programme (CMP) relating to AML and conduct the reviews in alignment with the best practices.
Timely and effective reporting of CMP review results highlighting regulatory weaknesses and areas of non-compliance for management together with recommendations for corrective action.
Conduct periodic monitoring and follow-ups on corrective actions.
Undertake reviews of suspicious activities and file Suspicious Activity Reports (SAR’s) to the appropriate regulatory and enforcement authorities.
Conduct AML awareness and training sessions to ascertain that all staff are aware of their regulatory obligations and have a working knowledge of how to identify suspicious transactions.
Ensure all ‘red flags’ for any AML and CDD checks performed have been fully reviewed and that any adverse comments have been fully investigated and the risk mitigated.
Perform regular on-going review of all customer mandate files (especially PEP’s and ‘High Risk’ customers) as required by related regulatory authorities, in order to ensure that Kuwait businesses ‘know their customers’.
To keep abreast of regulatory developments in Kuwait on AML and to review changes to regulation, analyse its impact for FAB and inform the Senior Compliance Manager on any regulatory changes.
Support the senior manager in Kuwait on day to day activities relating to AML matters that best meets FAB’s interest.
Bachelor’s Degree in Management, Banking or Finance, preferably with certification related to compliance and AML.
At least 3 years of business experience preferably with working experience in Bank Compliance with emphasis on AML. Preferably is an approved money laundering officer with sound knowledge on regulatory requirements.
Excellent understanding and knowledge of local laws and international practices related to AML.
Good analytical, interpersonal and communication skills.
Fluent in English and Arabic with strong written and verbal skills
Discrete and has sense for integrity and handles highly sensitive information with absolute confidentiality.
- Job Location
- Al Kuwait, Kuwait
- Company Industry
- Company Type
- Employer (Private Sector)
- Job Role
- Accounting and Auditing
- Employment Type
- Full Time Employee
- Monthly Salary Range
- Number of Vacancies
- Job Ref.