Sherif Afifi

Compliance, AML, risk management

Enhance operational efficiency by evaluating compliance risk within all business area and products lines. Develop and implement various compliance monitoring programs across different business areas as well as AML, FACTA, and CRS. Minimise potential risk factors by highlighting problematic areas as well as providing effective solutions. Discuss key findings with key stakeholders while defining scope of compliance along with deployment of various CBK instructions. Ensure adherence of control regulations across different departments through collaboration on regular basis. Conduct meetings with local regulators, external auditors, operational risk, and internal auditors to discuss compliance issues and solution. Prepare and send reports, including details of control instructions, law, and regulation to top management for effective decision-making.

Ensure that AML/CFT Risk, Reputational and regulatory authorities’ risks are timely addressed and mitigated and all controls are in place to encounter risks emanating from money laundering and terrorist
Financing through use of banking channels failing which you are accountable in front of senior management.
Ensure adherence of best banking practices, Bank’s compliance guidelines and standards with law 106/2013 and any amendments, CBK Executive regulations, directives, Security Council Resolutions rendered by virtue of Chapter (7) of UN Charter concerning terrorism and the financing of terrorism; the Ministerial Resolution No. (5), and other resolutions of Ministries concerning money laundering and the financing of terrorism and other International Regulatory Bodies’ instructions.


• Introduced advance operational procedure to decrease risk of policies and procedures by 80%.
• Reduced warning and penalties to minimum range by creating review pipeline for all banks departments in compliance with CBK inspector’s inspection.
• Oversee the operational requirements against CBK guidelines and regulations for all new products /new services/strategic projects to ensure the adherence with CBK directions
• Present the Regulatory Compliance best practices to the bank to be in loop with latest market developments
• Oversees the bank’s Compliance & Corporate governance awareness, Acts as an independent and objective body that reviews and evaluates compliance issues/concerns within the bank. Ensures the Board of Directors, management and employees comply with the rules and regulations of regulatory bodies, & that bank policies and procedures are being followed.
• Monitoring and reporting results of the compliance efforts of the bank and in providing guidance for the Board and senior management team on matters relating to compliance. Implement all necessary actions to ensure achievement of the objectives of an effective compliance culture.
• Responds to alleged violations of regulations, policies, procedures, and Standards of Conduct by evaluating or recommending the initiation of investigative procedures. Develops and oversees system for uniform handling of such violations, to be approved by GM, BOD.
• Advice the Bank on governance issues and ensure that meeting procedures (Regarding CG Regulations, terms of reference / Charters, delegation and that the Bank’s bylaws and Articles of Association are adhered to.
• In coordination with GM, BOD, support the implementation of the Board’s appraisal and development programs and develop services for Board Members that enable them to carry out their duties effectively, ensuring the competencies required for effective governance are identified, developed and maintained.
• Identifies potential areas of compliance vulnerability; 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.
• Review annual corporate governance regulations reports & review corporate governance duties.

Highlighted and addressed risk areas in consumer credit division while supervising overall quality control functions. Liaised with several departments, including risk management, internal audit, and finance to direct compliance issues within appropriate existing channels for permanent resolution. Increased efficiency of operations by replacing time-consuming manual process as well as reducing operational risk and automated production. Formulated and executed policies and procedures for effective management of compliance monitoring program operations. Enhanced awareness of Ci-net system within bank through effective planning and management.
• Provided vendor for new loan origination system as per CBK regulations for lending and workflow system.
• Improved effectiveness of systems by providing assistance in determining critical control and operational weakness across consumer credit division.
• Lead retail compliance team for monitoring loans/cards applications, checking pre and post disbursing amounts in customer accounts, and taking corrective actions to resolve mistakes.
• Maintaining a current understanding of the retail regulatory environment in which the bank operates and having a comprehensive understanding of the implications of the regulations on the Bank.
• Periodically examine the scope of retail compliance with the implementation of various CBK instructions and submit periodic reports on the findings to the Management. The scope of such periodic review would include a review, for CBK compliance purpose.
• Review retails regulations and recommendations issued by supervisory institutions and brief Dept head and GM- Retail of their requirements and implementation mechanism,
- Monitor the quality control function and identify the risk area for management attention
. Assessment, and prioritization of risks areas in Consumer Credit
. Helped to resolve critical control and operational weakness for Consumer Credit
. Replace and eliminate time consuming manual process
. Reduce operational risk and automated production
. Played Key supporting role in technology enactment and process reengineering
. Continuous assess process risk and implement cost effective methods to boxes risks
. Developing, initiating, maintain, and reviewing policies and procedures for the general operation of the Compliance Monitoring Program, Internal policies and procedures and its related activities to prevent illegal, regulatory, unethical
. Cooperating with other departments (Risk Management, Internal Audit, Finance, etc.) to direct compliance issues to appropriate existing channels for investigation and resolution.
. Attending to staff training in respect to Compliance within Consumer Banking
. Managing the Consumer Loans projects and ensuring the Bank comply with the best practices and as requested by the Central Bank of Kuwait

A) STRATEGIC:
• Contributed in improving technology enactment and process reengineering to accomplish all business objectives in an organised way.
• Prepared and met all business requirements while raising and mitigating system errors.
• Work closely with all business to formulate and implement strategic business growth plans for the bank.
• Update self on the current industry trends, economic events, regulatory requirements/changes set by the CBK and other relevant government bodies, and, inform the HO functions, and implement adequate changes in the branch, in close coordination with retail management, including but not limited to country specific deliverables, staffing of employees etc.
• Develop and maintain robust working relationships with internal/external stakeholders to facilitate and capitalize on functional / operational/ strategic needs.
• Support the implementation of India Desk business plans in line with the Bank’s strategic business objectives.
• Represent the Bank at internal / external events/meetings, conferences etc., as directed by the CCM/CIBO, ensuring optimization of business opportunities.
• Develop the marketing and sales strategies of the branch in coordination with Department Head Segments, Products and Marketing Analytics with a focus on growing the business volume, customer base and income.
B) OPERATIONAL:
• Support the all business areas in formulating policies and procedures for corporate / SME / retail banking in line with Bank's credit policy and directives of the Central Bank of Kuwait.
• Review, refine and authorize SME / retail banking credit applications from Relationship Managers / branch Managers (as applicable) prior to submission to Risk Management function.
• Manage SME / retail loan books within parameters provided by Risk Management Committee
• Contribute towards the development of new SME / retail products to maximize market share, revenues and profits in chosen segments, in line with the regulatory guidelines.
• Monitor critical portfolio caps at required intervals, enabling the management to formulate / execute remedial action to uphold the quality of the retail portfolio.
• Oversee the retail sales volume targets of the branches, measurement of customer attrition, and ensure implementation of customer retention strategies.
• Guide the team in generation of new business, primarily Kuwaiti customers, guide them on the product portfolios, and suggest propositions to augment earnings on investments.
• Contribute towards the development and implementation of “early warning systems” that highlight possible deterioration in the SME / retail assets portfolio for initiating timely corrective action.
• Liaise with the business team in identifying potential opportunities for Corporate, Commercial, Treasury, Structured Trade, Commodity Finance, Payment and Retail Products to qualified retail / corporate customers.
• Lead the benchmarking process to determine the Bank is standing vis-à-vis its competitors and give the Bank a competitive edge with respect to corporate / retail products.
• Support the retail business area to formulate annual business estimates including product revenue, promotional plans and operational expenditure.
• Oversee to ensure that staff focus on prompt delivery of service requests, within the approved SLAs.
• Contribute towards the implementation of various audit / compliance and procedural control measures
• Initiate bilateral funding and marketing opportunities from the market in consultation with Treasury/ lBG and capitalize on marketing Treasury & Investment products.
• Manage the marketing efforts pertaining to new / existing SME / retail products/services, including but not limited to planning, coordination and execution of campaigns, and other visibility efforts to expand business opportunities, in liaison with the internal stakeholders.

A- Internal Audit :
? Following up on internal audit comments/ suggestions on the consumer credit division operational issues and system errors and preparing replies on implementation.
? Arranging the necessary action required through system change request or through other division / departments and following up of action taken providing target dates where required.

B- External Audit:
? Following up on External audit requirement for reviewing samples of loans granted to the customers.
? Compliance with statutory requirements and compilation of policy and procedures
? Discussing with the audit any violated loan case
? Coordinate with ITD, GFC to carry out the fixing of violated loans in order to meet with CBK rules and regulations

Loans Sell Out Procedures:

A. procedures Study, Design and Implementation :
? Setting up of procedures (organizational, accounting )
? Ensuring system reliability and accuracy by coordinating with DBD and Risk Management & Central operation
B. Analysis :
? a summary of incoming telex transfer on account of loan buyout on a daily basis
? Statistics on NBK clients with loan liabilities, liquidating their outstanding to transfer to other bank for various reasons.

Insurance Portfolio:

? Involved in detailed negotiations with insurers/ re-insurers, risk management and co-ordination with business unit to gauge renewal rates. (This involved extraction and analysis of current credit portfolio along with 1 year forecast along with claims history)
? Negotiated lower insurance premium on deceased & disability coverage.
? Co-ordinate with Actuary to determine Consumer loan portfolio requirements.
? Insurance cost payout for insurance company by analyzing the data of the deceased & disability Portfolio and extracting the data for entire consumer loans portfolio and calculate the payment as per agreed insurance rate.
? Reconciliation for the insurance premium payment for insurance company Monthly basis
? Refund of Insurance Premium to the customers of early per-closure of loans as per Center Bank rules & Regulations.
? Design and Implementation The claims for insured loans
? Analysis of all loans from consumer lending Division and from bad loans division for deceased clients with written off liabilities on directly and indirectly insured clients.

Branch Mistakes:

? Analysis all branch mistakes in the loans, including the type of mistakes caused mistakes by branch and related Trouble reports produced requiring fixing of the loan record.
? Present appropriate solvency for the mistakes
? Coordinate with Domestic branches Division in order to discover the branch weak point and present the proper training

 Managing Daily Bills Settlements (Acceptance, Sight, Provision Bills and Transactions).
 Obtaining Foreign Currencies Exchange from the Treasury Services.
 Responsible for the Disbursement of Agent's Commissions And Reporting the Outstanding Comm To The Head. Manager (Half Monthly Reporting).
 Checking the Negotiation Documents under the L.C. Requirements and Conditions.
 Customers Services (Endorsing and Releasing Negotiation Documents (sight - Acceptance), Issuing Shipping Guarantees, Answering Any Queries about Charges, Fees, Commissions, )