Reports to: Senior Manager, Compliance
Department: Risk & Compliance
Location: Head Office, Nairobi
Job purpose
The role responsible for performing KYC and AML/CFT/CPF compliance functions at Gulf African Bank (GAB). Such functions include implementing the Bank’s Anti-Money Laundering, Combatting the Financing of Terrorism and Combatting Proliferation Financing (AML/CFT/CPF) compliance program; monitoring financial transactions for existing clients to identify suspicious activities; reviewing sanctions alerts as applicable; analyzing and responding to queries from both internal and external sources on AML/CFT/CPF; assisting in the overall administration of the Compliance oversight in Gulf African Bank, and to co-ordinate the businesses’/departments’ compliance with applicable laws and regulations that apply to their activities and products.
Key Responsibilities
- Investigate and assess alerts for potential money laundering, terrorist financing and proliferation financing risks in the Bank.
- Ensure efficient identification and monitoring of suspicious activities and transactions.
- Ensure timely, efficient reporting of suspicious transactions to Head of Risk and Compliance and the Financial Reporting Centre.
- Daily review of AML/CFT/CPF transaction monitoring alerts.
- Maintain a current understanding of money laundering, terrorist financing and proliferation financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
- As an AML/CFT/CPF subject matter expert provide direction and guidance to employees on appropriate remediation action for high risk accounts.
- Timely execution of instructions received from GAB Senior Management, Head of Risk and Compliance, Senior Manager, Compliance, the Financial Reporting Centre, Central Bank of Kenya, and other internal and external sources.
- Assist with money laundering, terrorist financing and proliferation financing related queries/questionnaires received from corresponding banks.
- Ensure proper investigation of suspicious transaction reports, suspicious activity reports and escalation of the same to the senior manager compliance and external regulators as applicable
- Assist with AML/CFT/CPF compliance training programme.
- Prepare periodic (weekly, bi-weekly, monthly, quarterly, semi-annual and annual) reports to Head of Risk and Compliance.
- Obtain documentary proof of suspicious transactions and ensure effective record keeping of suspicious transactions and cash transactions reported to the FRC in line with the requirements of the applicable Regulations and Guidelines.
- Maintain a current understanding of ML/TF/PF issues including policies and translate to the Bank’s procedures, regulations, industry best practices, typologies and developing trends.
- Assist in identifying systemic procedural weaknesses and additional training requirements on AML/CFT/CPF.
- Ensuring that the bank’s AML/CFT/CPF compliance policies and procedures up-to-date.
- Conduct on-site and off-site AML/CFT/CPF reviews, report on exceptions and ensure timely corrective action.
- Assist the businesses in developing solutions to potential issues involving compliance and regulatory risk.
- To respond to compliance questions and concerns of the staff and advice branches/units and concerns of the staff and advice branches/units and assist in providing solutions to potential issues involving compliance risk
- Undertake other duties as assigned by management from time to time
Required qualifications, experience and attributes
Qualifications
- Bachelor’s degree or higher education level.
- Extensive regulatory knowledge (Local and international AMLICFTICPF regulations, FATCA, Sanctions etc).
- Professional Certification in AML/CFT/CPF e.g. Certified Anti-Money Laundering Specialist (CAMS) or any other Financial Crime Professional certification, would be an added advantage.
Experience
• Minimum five (5) years working knowledge of the diverse financial products offered by financial institutions, at least three (3) years in a Compliance/Risk function.
Personal attributes
- Excellent communication and interpersonal skills.
- Ability to establish priorities, plan, coordinate and monitor own work plan.
- Strong negotiation skills.
- Good understanding of relevant regulatory requirements, CBK Prudential and Risk Management guidelines.
- Ability to understand and interpret financial information and principles.
- Exceptional analytical and investigative skills.
- Ability to work with a team.