Head of Compliance
Bank
Total years of experience :24 years, 5 Months
• Revised & enhanced the scope of Global Compliance (Regulatory & Policy Compliance) function to include products, processes & activities including Islamic financing products & Sukuks. Also Conducted bank wide risk based Regulatory compliance verification exercise in 2011
• Supervised Compliance functions under Group subsidiaries i.e. Emirates REIT Management services Ltd, DIB Capital (both under DFSA), Dubai Islamic Financial Services (DIFS under ESCA), Tamweel and DIB Pakistan ( more than 35 branches)
• effectively prevented potential Operational losses & or Compliance incidents ( Barcl…collection, Omar…. etc ) by providing negative Compliance Opinion on Transactions or New Products / Activity (i.e., AML/ CTF & Sanctions compliance & counter fraud) as well as raising STR’s on Human trafficking
• Initiated programme to implement FATCA
• Represented bank at high level meetings with regulator in my capacity as Head of Group Compliance and MLRO and as an active member of many management Committees including liaising with US legal Counsel for 9/11 related issues
• Reviewed & Optimized AML System Tools; parameters and thresholds to ensure alignment with effective control requirements. Also Evaluated application software for AML Transaction monitoring, Counter Fraud and SWIFT filtering purposes
• Steered Group Information Security function towards obtaining ISO27001 Certification for Information Security in December 2010
• Overhauled Compliance function -in line with Head office Paris Compliance directives & set up the financial security function comprising Anti money laundering/ Terrorist Financing and sanctions Compliance functions and established a separate wing for Global Compliance functions (i.e., New activity products (NAP), Suitability, Conflict of Interest & Regulatory requirements)
• Conducted the high Profile Latin Node Investigation in May 2009 in the wake of the US FCPA investigation http://www.justice.gov/opa/pr/latin-node-inc-pleads-guilty-foreign-corrupt-practices-act-violation-and-agrees-pay-2-million
• Strengthened the second level centralized Transaction monitoring & SWIFT filtering control mechanisms and processes as well as the branch & business / first level Compliance controls
• Assumed responsibility of the Bank - on a few occasions - during the absence of the Senior Country Officer, Chief of Operations and Head of Corporate Banking
• Established & managed the Permanent Control function in accordance with Head Office, Paris Internal Control Committee directives
• obtained special training in Paris for implementation of Risk & Permanent Control functions encompassing all global business lines
• Facilitated the conduct of a comprehensive annual Risk assessment & Control Plan
• Reviewed adequacy & effectiveness of Controls & Risk mitigation & facilitated implementation thereof
• Evaluated SAB system with a view to system migration as member of IT steering group
• Participated in Credit / Treasury & Operational Support Committees, meetings and Conferences for Control purposes both within Yemen, within the region and in Paris
• Carried out risk assessments, planning & execution of Annual Audit programmes & activity (in a completely Arabic speaking environment)
• Participated in Audit assignments for MENA region branches of Calyon Credit Agricole. Used computer aided Audit tools.
• Successfully detected major internal fraud amounting to USD 450, 000. Also participated in the resulting Regional Audit investigation.
• Made numerous substantial findings and recommended enhancement of controls in Finance, Treasury, Credit, Trade finance, Information System, Compliance functions as well as all branch operations.
• Negotiated with Big 4 Audit in 2003 “firm” towards settlement in the Professional negligence & Breach of Contract issue in the wake of my fraud investigation report
• Liaised with External Auditors, State Auditors, Legal Consultants in connection with major internal fraud investigation
• Established & implemented the Audit Charter, Policies & Procedures for the Audit function
• Made presentation on behalf of the Managements of Banks at the seminar on the Compliance function in Banks held at the Central Bank Oman in April 2004
➢ Habib Bank A G Zurich, Colombo, Sri Lanka - Privately owned Swiss incorporated conventional Bank
a. As Head of Audit
• Established zonal Internal Audit function under the guidance of Head office audit with a reporting line to the Country Manager
• Facilitated Zonal Office on numerous legal cases and issues, including liaison with Legal Counsel
• Investigated many Fraud cases including internal Foreign Currency fraud 2000 and Clearing fraud 2006 as well as Report Fraud
• Functioned as Member of Senior Management Committees; Assets and Liability Committee (ALCO) & Credit Committee & Information Technology Committee & Assets Remedial Management Committee (ARM)
b. As Head of Compliance (Area Compliance Officer); Reporting to Head of Compliance, Zurich
• 2001 - Conducted Due Diligence study on Depositor (V….) which led to a major Set- Off of defaulter (P…..) liabilities
• Set up the first ever formal Compliance department under the Zonal Office for the purpose of ensuring carrying out Due Diligence, application of Head office Zurich guidelines & regulation on KYC and anti- Money Laundering to requirements vis-à-vis Customer activity
• Established manual mechanisms & trained team of branch based Compliance Officers to ensure Customer transactions were compliant to Head Office (Zurich)
• as Head of Remittances & Foreign Currency Departments (Dec 1997 to Nov 2000); enhanced Correspondent Banking relationships with Habib American Bank, New York and other major banks as well as made initial steps towards migration to SWIFT from the Telex based payments & messaging system
• Embedded head office, Zurich Due Diligence and Customer on- KYC requirements for remittances;
• Acted as Project Manager for IT Migration from NCR System to in house hPlus System
• Enhanced first level & second level internal controls upon my appointment as interim Branch Manager/ Colpetty Branch after my discovery of internal ( Foreign Bills Payments) fraud Aug 1997 to Dec 1997
• Carried out Financial Reporting to Head Office, Operational/ back office Monitoring & Control functions as Officer, Zonal Office Nov 1995 to Aug 1997
• Instituted manual/ excel mechanism to Report & Monitor adequacy of Controls as Credit Officer, Advances Department; Reporting to the Credit from Aug 1995 to Nov 1995
• 2012-Primary Market Certificate (PMC) programme conducted by International Capital Market Association Limited (ICMA) / University of Reading, UK
• 2011- PhD Candidate, University of Oulu, Business School, Finland (ongoing)
• 2010- Obtained MICA designation & International Diploma in Compliance by International Compliance Association ICA) accredited by University of Manchester, Business School, UK ;
• 2010- Successfully completed CIMA Diploma in Islamic Finance conducted by CIMA, UK
• 2009-Certified Internal Auditor (CIA) -Obtained CIA designation / certification from Internal of Institute of Internal Auditors (IIA), Florida, USA
• 2009 -Member of Australasian Compliance Institute (Candidate for Certified Compliance Professional (CCP), Australia. Completed Residential programme in Sydney)
• 2008- Certified Anti-Money Laundering Specialist (CAMS), ACAMS, Miami, USA
• 2005- Certified Fraud Examiner (CFE) - Association of Fraud Examiners, USA
• 2002- Certified Bank Auditor (CBA) - Bank Administration Institute, Chicago, USA
• 1992- Masters Degree - University of Kelaniya, Sri Lanka
