Compliance assurance
Kuwait Finance House
Total years of experience :14 years, 10 Months
Identify and develop the general regulatory compliance program of KFH Group.
- Prepare the yearly “Risk Based Compliance Testing Plan” to be approved by the Board Audit and Compliance Committee (BACC).
- Perform periodic compliance reviews to assess the level of compliance covering all banks’ departments, all domestic and foreign branches in addition to subsidiaries as per the approved plan.
- Assure the Bank Compliance by testing the level of compliance through random samples.
- Issue the Notification letters to the business units, functions, and activities under testing including the required List of Requirements.
- Issue Draft Testing Reports including the observations, criteria based on regulation and CBK Instructions, risks, recommended corrective actions, agreed upon period for implementation.
- Attend meetings with function heads under audit to discuss Draft Reports, and agree on observations, risk rating, corrective action plan.
- Issue the Final Testing Reports to relevant functions, CEO, and BOD Committee.
- Present the progress of Compliance Testing Plan and issued Testing Report to BACC.
- Perform a regular follow-up with respective business divisions for the timely resolution of all outstanding compliance issues from as a result of compliance testing to ensure corrective action is adequately taken.
- Perform on-site visits to ensure compliance with the same on time by compliance testing.
- Perform follow-up on all compliance functions within KFH Group and prepare quarterly reports for the same.
- Maintain a database for all CBK violations, observations to ensure that correction actions are taken on a timely manner.
- Ensure compliance to all relevant quality, health, safety and environmental management policies, procedures and controls across the compliance function to guarantee employee safety,
legislative compliance, delivery of high quality products/service and a responsible environmental attitude.
- Amending the charters of the Board of Directors and its committees in line with the instructions of the Central Bank of Kuwait
-Amending the charters of the Board of Directors and its committees in line with the proper application of governance.
-Policy and procedures adjustment in line with regulatory instructions
-Preparing the necessary reports and delivering them to the Secretariat of the Board of Directors for presentation at the meeting.
-Review the minutes of the board meeting to make sure that the regulatory instructions are applied such as quorum, decisions and validity of the meeting, as well as with regard to the regulatory governance instructions for that or commercial laws and regulatory instruction’s
monitor the application of the instructions issued by the regulatory bodies.
-link between the bank various department and regulatory bodies.
-provide the regular support and help to the banks departments.
-review and update compliance, manuals to ensure the regulatory soundness of the bank transactions, policies, procedures and dealings.
-implement compliance culture procedure across the bank .
-update the regulatory instructions and ensure responding to the inquires of the concerned in department in this regards.
- prepare a list of report submitted to the regulatory bodies and ensure compliance with the submission of the same regulatory bodies .
-provide necessary support to the bank group to enable good governance, transparency and disclosure .
- Amending the charters of the Board of Directors and its committees in line with the instructions of the Central Bank of Kuwait
-Amending the charters of the Board of Directors and its committees in line with the proper application of governance.
-Policy and procedures adjustment in line with regulatory instructions
-Preparing the necessary reports and delivering them to the Secretariat of the Board of Directors for presentation at the meeting.
-Review the minutes of the board meeting to make sure that the regulatory instructions are applied such as quorum, decisions and validity of the meeting, as well as with regard to the regulatory governance instructions for that or commercial laws and regulatory instruction’s
Writing official letter for banks (traditional and Islamic), Financial institution(traditional and Islamic) and exchange companies .
-Approved the provisions report provisions for financing institutions according to the international accountingstandards and the Central bank of Kuwait regulations.
-Preparing studies about the credit in different economic sector for the individual and commercial sector to make the recommendations in monetary policy and make
a conclusions about best practice for monetary policy (expansionary monetary policy or contraction monetary policy) .
-Contacting the compliance manger in each institution to check the reports if we have some major change that we doubting about it to make sure that all the reports we received are accurate to make a right studies and then reality conclusions and recommendations.
-Preparing a reports about the risk that may be happened for the lenders and I used the stress testing with different scenarios for calculating the different kind of risk that may occurs and how we can avoid it or even face it if happened (Ex: Liquidity problem that may occurs and affect the solvency of the institution).
-Participations on preparing the circular that will make a new regulation according to the updated global standardssuch as new regulations for the capital adequacy (Basel 3).
-Reviewing, analyzing and recording the Financial reports(balance sheet, profit, equity etc.) from the different financial institutions and approved that reports according to the international accounting standards.
-Draw conclusions - recommendations, making reports and study the data from banks(traditional and Islamic), Financial institution (traditional and Islamic) and exchange companies.
-Participation in preparing the Traditional Banking System(TBS)
- Participation in preparing the Islamic Banking System-Modified(IBS.M)
GUST university have the AACSB accredidation which is one of the best 500 university for business studies