Khaldoun Masalmeh, Head of Compliance and Monitoring Jordan

Khaldoun Masalmeh

Head of Compliance and Monitoring Jordan

Network international Jordan

Location
Jordan - Amman
Education
Master's degree, Global MBA
Experience
21 years, 0 months

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Work Experience

Total years of experience :21 years, 0 months

Head of Compliance and Monitoring Jordan at Network international Jordan
  • Jordan - Amman
  • My current job since July 2021
Deputy Executive Manager Compliance and Permanent Control Department at Societe Generale Bank - Jordan
  • Jordan - Amman
  • January 2018 to July 2021

Managing Role - Compliance Function:
• Manage to continuously improve the bank Corporate Compliance Program and implement any necessary changes on an ongoing
basis to improve the prevention and detection of any noncompliance.
• Manage to work closely with the Compliance Executive, Legal Department and members of the Bank senior management team to
ensure made decisions are consistent with the Bank mission and values.
• Monitors and evaluates employee performance. Holds employees accountable for the attainment of defined goals and objectives.
Executes effective performance redirection when needed.
• Ensuring adequate corrective measures are in place in the event of any compliance failures.
• Raising awareness and training staff in risks of non-compliance.
• Ensures that the bank fully complies with regulatory obligations.
• Manage the design and scheduling of all compliance audits.
➢ Managing Role - AML/CTF and FCC Function:
• Acting as deputy money laundering reporting officer for the bank,
• Assist internal stakeholders across the bank to proactively identify, manage, and mitigate money laundering, terrorism financing,
sanctions, and associated risks banks might face.
• Draft appropriate local instructions based on group international branches instructions in line with the principles laid down in the
Société Générale Group instructions, considering specific legislative or regulatory provisions governing the bank;
• Provide leadership and direct management for the team to complete associated tasks
• Lead and implement a strong culture of productivity to ensure a focus on continuous improvement within the department and bank.
• Centralize and analyze information concerning sensitive, suspicious transactions;
• Provide staff with adequate training in cooperation with HR;
• Investigating, reporting and documenting suspicious transactions to the competent local authorities;
• Report frozen assets to the competent authorities, when appropriate under embargo and sanctions.
➢ Managing Role - Permanent Supervision Function:
• Ensure that permanent supervision properly carried out at all levels and kept up to date.
• Ensure that the client’s claims managed properly according to the procedures.
• Organize PS, training to staff.
• Organize quarterly Permanent Supervision and Compliance & AML reporting.
• The preparation of quarterly/regularly summary reports on the management of compliance, AML, and permanent supervision to be
submitted to the Board of directors, local management, SG Lebanon and SG Group.
➢ In Term of FATCA Function:
• Follow up FATCA requirements in terms of onboarding and preexisting clients whether for entities and individuals.
• Ensure the maintenance of full FATCA records of US specified and recalcitrant accounts.
• Prepare related reporting to the IRS yearly.

Regional Head of Compliance and AML Department at Souq.com Financial Arm - AKA Amazon Middle East
  • Jordan - Amman
  • November 2013 to November 2017

Establishing the Compliance and AML Department from the grounds up, including: Strategy setting, team management, and task assignments and audits.
- Acting as designated MLRO (Money Laundering Reporting Officer) for the company.
- Assuming total ownership of communication with central banks in the region, and central bank of Singapore (MAS)
- Management of annual external audits with Deloitte.
- Assisting the company in obtaining their desired regulatory license/s.
- Handling Central Banks correspondences receive, translate, circulate, maintain communications log and follow up on action taken for incoming, and co-ordinate, send follow-up on replies or outgoing mail.
- Drafting fit for purpose compliance and anti-money laundering policies, procedures and internal controls policies, including but not limited to the following:
o KYC programs (including logs) on business partners, taking into consideration renewal requirements on preset frequencies.
o Limitations on sanctioned activities, countries, etc.
o Transactional limits, segmented properly in multiple directions (country, business activity, source of fund, product features, etc.)
o Selection, customization and implementation of monitoring tools (Dow Jones, Wynyard, Internal business intelligence reports, etc.)
o Payment reviews on corporate level (business partners) incoming and outgoing transfers
o Transaction Monitoring Policies with behavioral analysis on the micro-transaction level:
 Adherence to transaction norms and behaviors
 Adherence to internal policies
 Adherence to country and central banks requirements
 Adherence to policies set by Financial Crime/Fraud units
 Transaction concentration, account structuring and linkage, fake information, etc.
o Providing day-to-day support to CASHU internal clients in executing compliance deliverables.
o Drafting, executing and supporting the compliance monitoring and testing program and performing desk reviews and test checks to assess the status of compliance
o Policies related to providing means for business partners, and individual users to provide feedback and justification and missing/extra documents and information related to transactions that may raise concern, based on the behavioral analysis flags.
o Dispute management policies.
o Periodic gap analysis.
o KYE programs in a distributed office environment (Jordan, Dubai, Singapore, India, Saudi Arabia, and Egypt)
o Adherence policies related to Conflicts of interest, internal code of conduct, gift policy, personal dealings, confidentiality, Anti forgery and anti-corruption best practices.
- Management of corporate communication related to a dynamic environment; whereby new or modified policies and procedures are circulated and implemented, alongside catering for internal and external training in compliance, AML and corporate governance topics, additionally performed on preset times throughout the year.
- Establishing compliance flows that govern the cooperation of the unit with legal, operational, financial/accounting and business units:
o Maintaining consistency of contractual templates to assure abidance with implemented compliance policies.
o Maintaining a phased approach (including periodic checks) for reviewing KYC documents and contracts with business partners: prior to establishing the relationship, throughout the duration of the cooperation, and post termination of the relationship where needed.
o Providing guidance and best practices to business teams for implementation of self-driven due diligence needs at early stages of the business engagement.
- Setting up standards for external communication of all outgoing letters.
- Analyzing and setting up strategies related to cases that could potentially cause financial, reputational or regulatory damages on the company, its affiliates or business partners.
- Assisting in promoting the firm at various industry and promotional events.

Compliance Manager at Vision Securities LTD. CO.
  • Saudi Arabia - Riyadh
  • July 2012 to September 2013

•Conduct and direct the internal investigation of compliance issues.
•Conduct environmental audits to ensure adherence to environmental standards.
•Identify compliance issues that require follow-up or investigation.
•Disseminate written policies and procedures related to compliance activities.
•Verify that Policies and procedures is in place to adequately provide oversight and monitoring in all required areas.
•Maintain documentation of compliance activities, such as complaints received or investigation outcomes.
•Discuss emerging compliance issues with management or employees.
•Collaborate with human resources departments to ensure the implementation of consistent disciplinary action strategies in cases of compliance standard violations according to Ministry of Labor roles and regulations.
•Review communications such as securities sales advertising to ensure there are no violations of standards or regulations.
•Provide employee training on compliance related topics, policies and procedures.
•Provide assistance to internal or external auditors in compliance reviews.
•Prepare management reports regarding compliance operations and progress.
•Keep informed regarding pending industry changes, trends, and best practices and assesses the potential impact of these changes on organizational processes.
•Verify that all firm and regulatory policies and procedures have been documented, implemented, and communicated.
•Direct the development or implementation of compliance-related policies and procedures throughout an organization.
•Advise technical professionals on the development or use of environmental compliance or reporting tools.
•Develop or implement environmental compliance plans for programs.

Regulatory Compliance and AML at The Housing Bank for Trade & Finance
  • Jordan - Amman
  • November 2010 to July 2012

Supervises operations at a financial institution to make sure its accounting, investment and lending practices comply with federal, state and local laws.duties include monitoring new developments in financial regulation, keeping bank personnel appraised of those developments, assessing the effect new rules may have on an institution, and providing advice on compliance with regulations and the drafting of a bank's:-

•Ensure that the given bank’s lending, accounting, and investment practices adhere to state and federal regulations.
•Investigate, recorded and file all suspicious transactions.
•Responsible of preparing internal compliance reports ensuring the bank’s global compliance program is followed including Housing bank offshore offices (Iraq, Libya, and UAE) and brunches (Bahrain).
•Conducting compliance related training and updates the AML manual.
•Updating customer files in co-ordination with other branches and assisting business development staff in doing market research.
•Work as a liaison between central bank Jordan/finance intelligent unit and the bank regarding compliance matters, investigations, and reporting any suspicious case through the SAR (Suspicious Activity Report) preparing, recording and filling.
•Train, knowledge and prepare the bank employee because of the importance of the money laundry and terrorism finance and how to deal with them.
•Identify possible money laundering activity reported by bank branches, Review, respond and address AML and compliance inquiries
•Prepare and evaluate regular suspicious-activity reports
•Study new banking products and services to evaluate risk
•Inform and advise the senior management regarding proposed and pending regulatory changes
•Update regulations and communicate the same to bank staff
•Prepare training materials for anti-money laundering efforts
•Administrates, Establish and update of the Policies and procedure relating to:
-Know Your Customer = KYC.
-Bank Secrecy Act (BSA).
-General and Training AML/CTF Policy and regulations.
-Compliance Policy.
-Corporate Governance Code.
-Code of Ethics/Conduct

Sales Representative, Product and Direct Marketing Leader at Arab Bank
  • Jordan - Amman
  • November 2005 to November 2010

•Present and sell company products and services to current and potential clients.
•Prepare action plans and schedules to identify specific targets and to project the number of contacts to be made.
•Follow up on new leads and referrals resulting from field activity.
•Identify sales prospects and contact these and other accounts as assigned.
•Prepare presentations, proposals and sales contracts.
•Develop and maintain sales materials and current product knowledge.
•Establish and maintain current client and potential client relationships.
•Prepare paperwork to activate and maintain contract services.
•Manage account services through quality checks and other follow-up.
•Identify and resolve client concerns.
•Prepare a variety of status reports, including activity, closings, follow-up, and adherence to goals.
•Communicate new product and service opportunities, special developments, information, or feedback gathered through field activity to appropriate company staff.
•Coordinate company staff to accomplish the work required to close sales.
•Develop and implement special sales activities to reduce stock.
•Participate in marketing events such as seminars, trade shows, and telemarketing events.
•Provide on-the-job training to new sales employees.

Data Base Analyst at JORDAN INTERNATIONAL TRAINING CENTER
  • Jordan
  • January 2004 to November 2005

1.Design, develop, and direct the entry of data into specific JIPTC databases in support of the Perform tasks associated with the mandate to SRAS for collecting, processing, analyzing, distributing, and archiving information through the use of paper instruments and software templates.
2.Design and develop required forms and reports that relate to the cadet database. Ensure that SRAS staff has access to the database for data entry and retrieval by coordinating database interoperability.
3.missions mandated to the Scheduling and Records Administration Section (SRAS).
4.Design, develop, and maintain the academic and demographically records of JIPTC Cadets, assignment of I.D. numbers, plus tracking and reporting pertinent data.
5.Design, develop, and maintain a multitude of fluid schedules for various training and support functions (instruction, meals, Cadet Services, etc.), staff allocations, and space utilization studies.
6.Design, develop, administer, and produce reports from the JIPTC instructor profile.
7.Update computer records and reports..
8.Serve as a member of the emergency response team in the event of record loss from the SRAS database or any other computer failure.
9.Attend meetings when necessary and any other duties as required or directed by the Provost-Registrar (Chief of SRAS).

Education

Master's degree, Global MBA
  • at Unevirsity of bedfordshire
  • July 2020
Bachelor's degree, Banking & Financial Management
  • at Applied & Science University
  • July 2003

Specialties & Skills

Corporate Governance
Financial Sector
Banking
Compliance
•Graduation project:Research title: (Evaluation Shares in Amman Stock Market ).

Languages

English
Expert

Memberships

ACAMS Association of Certified Anti-money Laundry Specialist
  • Certified Anti-money Laundry Specialist
  • September 2014
PropleCert - ISACA
  • Accredited COBIT 5 Trainer
  • October 2017

Training and Certifications

CCAM Certified Compliance and AML Manager - Henley Business School - University of Reading - UK (Certificate)
Date Attended:
October 2017
CIPT Certified International Professional Training - ACI- American Certification Institutions (Certificate)
CAMS – Certified Anti-money Laundry Specialist (Certificate)
Certified COBIT 5 Assessor - Peoplecert – ISACA (Certificate)
COBIT 5 Implementation Certificate (Certificate)
Date Attended:
March 2017
Cobit 5 Foundation - People cert (Certificate)