Compliance Manager
Arab Bank Egypt
Total years of experience :25 years, 7 Months
• Review and Update the policy and procedure for all products and services in the bank according to compliance and AML perspective.
• Develop, maintain and Update Regulations Inventory Matrix (RIM) for all applicable Rules and Regulations.
• Review and update Regulatory Risk Control matrix (RCM) for every Business area in the bank.
• Create, Review and Update Compliance Monitoring Program (CMP)
• Develops initiates, maintains, and revises policies and procedures for the general operations of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct. Manages day-to-day operation of the Program.
• Ensuring compliance with AML/CFT laws (FATF, OFAC, etc...) and regulations. & internal policies and procedures.
• Provide the authorities without delay any information, records they may require for the purpose of administration of the law and its implementing regulations.
• Interact and correspond with regulatory authorities and maintain comprehensive file of correspondence, communications, circulars and notification issued by them.
• Collaborates with other departments to direct compliance issues to appropriate existing channels for investigation and resolution. Consults as needed to resolve difficult legal and regulation compliance issues.
• Responds to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Develops and oversees a system for uniform handling of such violations.
• Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
• Ensures proper reporting of violations or potential violations to authorized enforcement agencies as appropriate and/or required.
• Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
• Works with the Human Resources Department and others as appropriate to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
• Provide advice to the management on the applicable laws, regulations, and standards and inform the management with the latest updates daily.
• Detect and evaluate violations connected with banking activities and any new product.
• Develop AML Strategy, Policy, Procedures and Annual Monitoring plan.
• Carrying out daily surveillance activities including transaction monitoring and other related AML review tasks
• Act as the central point for all contact and communication between the bank and the regulatory authorities.
• Maintain database of local regulatory and legislative requirements.
• Review and Update the policy and procedure for all products and services in the bank according to compliance and AML perspective.
• Complete and activate all Phases of Both Monitoring and screening systems in the department.
• Enhance KYC and AML Compliance Awareness for all bank Staff.
• Apply and implement classification for all product and services.
• Interact and correspond with regulatory authorities and maintain comprehensive file of correspondence, communications, circulars and notification issued by them.
• Collaborates with other departments to direct compliance issues to appropriate existing channels for investigation and resolution. Consults as needed to resolve difficult legal and regulation compliance issues.
• Responds to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures.
• Identifies potential areas of compliance vulnerability and implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations
• Provide advice to the management on the applicable laws, regulations, and standards and inform the management with the latest updates daily
• Detect and evaluate violations connected with banking activities and any new product.
•Increasing the regulatory effectiveness of compliance within the bank.
•Review and Update the policy and procedure for all products and services in the bank according to compliance and AML perspective.
•Develop, maintain and Update Regulations Inventory Matrix (RIM) for all applicable Rules and Regulations.
•Review and update Regulatory Risk Control matrix (RCM) for every Business area in the bank.
•Create, Review and Update Compliance Monitoring Program (CMP)
•Develops initiates, maintains, and revises policies and procedures for the general operations of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct. Manages day-to-day operation of the Program.
•Provide the authorities without delay any information, records they may require for the purpose of administration of the law and its implementing regulations.
•Interact and correspond with regulatory authorities and maintain comprehensive file of correspondence, communications, circulars and notification issued by them.
•Collaborates with other departments to direct compliance issues to appropriate existing channels for investigation and resolution. Consults as needed to resolve difficult legal and regulation compliance issues.
•Responds to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Develops and oversees a system for uniform handling of such violations.
•Identifies potential areas of compliance vulnerability and risk; develops/implements corrective action plans for resolution of problematic issues, and provides general guidance on how to avoid or deal with similar situations in the future.
•Ensures proper reporting of violations or potential violations to authorized enforcement agencies as appropriate and/or required.
•Monitors the performance of the Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
•Works with the Human Resources Department and others as appropriate to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
•Provide advice to the management on the applicable laws, regulations, and standards and inform the management with the latest updates daily.
•Detect and evaluate violations connected with banking activities and any new product.
•Develop AML Strategy, Policy, Procedures and Annual Monitoring plan.
•Carrying out daily surveillance activities including transaction monitoring and other related AML review tasks
•Ensuring compliance with AML/CFT laws (FATF, OFAC, etc...) and regulations. & internal policies and procedures.
•Handling all high risk transactions (LCs, LGs, BCs, Transfers, client’s account opening, foreign cheques … etc) and escalate them to the group regulatory compliance according to internal authorities.
•Monitor and control all incoming and outgoing swifts according to the safe watch system lists.
• Organized planning to cover all departments and branches concerning compliance and money laundry.
• Preparing and authorizing compliance and money laundry yearly plan.
• Establish bank systems that ensure obtaining data to determine the identity and legal conditions of customers and the beneficiaries either normal or artificial persons, through adequate official or conventional evidences.
• To assure that all employees in the bank are sufficiently aware of the rules and regulations established by law regarding compliance and money laundry, and that these rules and regulations are being applied and followed, and make sure they achieve success.
• To assure that all branches maintain registers and documents to keep record of all financial and international operations including sufficient data to identify these operations, and to assure that these registers and documents are being saved by all branches.
• To assure all incoming account opening requests are being updated on a regular basis in all branches.
• Follow up the reports received either from Head Office, or branches regarding suspicious cases of money laundry, and suggesting ways and methods to correct them and send them to Internal Audit and Compliance Committee to study the suggestions and make the right decisions.
• Reply to incoming letters and inquiries from Senior Management or different authorities concerning money laundry issues.
• Responsible for maintaining awareness within the branch staff member of money Laundering and terrorism financing risk and bank policies and procedures.
• Teller
• Collection cheque Dept.
• Saving and deposits account Dept.
• Ensure customers request are executed within the right channel.
• Handle customer complaints and propose solutions to ensure customer satisfaction.
• Communicate to higher authority all issues complaints (Reports, statistics, analysis….) related to department performance.
• Negotiate with clients and resolve conflict. Interact with legal department and legal counsel, other professionals and other divisions within the bank and management as necessary to effectively resolve clients issues.
• Ensure provision of accurate and complete reports and statistics on clients required for top management, Credit Admin, CBE, Legal Department, and counselor, and other authorities.
• Preparing customers studies including reviewing their credit files, documentation, guarantees and collateral.
• Following up on customers not abiding to rescheduling or settlement contracts.
• Evaluating and reclassifying customers.
• Preparing credit studies concerning customers transferred to Legal Department.
• Re-evaluating and reviewing guarantees submitted by clients.
• Preparing progress reports on customers for the Bank’s top management.
• Following up renewal of all basic documentation and investigation of customers.
• Preparing statistics and data related to provisions allocated to clients.
• Reviewing consolidated data from CBE on clients
• Prepare profit and loss statements and monthly closing and cost accounting reports.
• Compile and analyze financial information to prepare entries to accounts, such as general ledger accounts, and document business transactions.
• Establish, maintain, and coordinate the implementation of accounting and accounting control procedures.
• Monitor and review accounting and related system reports for accuracy and completeness.
• Prepare and review budget, revenue, expense, payroll entries, invoices, and other accounting documents.
• Recommend, develop and maintain financial data bases, computer software systems and manual filing systems.
• Supervise the input and handling of financial data and reports for the company's automated financial systems.
• Interact with internal and external auditors in completing audits
• Compiles financial information and assists in the preparation of reports.
• Records, classifies, and summarizes financial transactions and events in accordance with generally accepted accounting principles.
• Initiates and processes journal entries into various accounts.
• Reconciles sub-ledgers to the general ledger and resolves differences