Ensure that AML/CFT 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 to
law 106/2013 concerning money laundering and the financing of terrorism and its executive regulations, CBK, bank policies, other International regulatory bodies’ instructions and any other ministerial/local decrees.
Key accountabilities
GENERIC ACCOUNTABILITIES
People Management Manage, motivate and develop individual employees and the team in
line with people policies & practices. Communicate operational procedures.
Corporate
Governance and Compliance Work fully within risk policies and procedures and compliance regulations and ensure all divisional activities comply with corporate governance & regulatory/legal frameworks
SPECIFIC ACCOUNTABILITIES
1.Ensure that all investigation duties are performed in line with law 106/2013, CBK Executive regulations, directives, resolutions of Ministries No.5 of 2014, etc. to protect the Bank against money laundering and terrorist financing
attempts.
2.Responsible
for conducting full analysis/Investigations on all SAR/STR received from all Business lines (IBD, HR, Treasury , retail and corporate banking) and provide recommendation whether to raise to Kuwait Financial Intelligence Unit KFIU or disposition of the case.
3.Responsible for preparing investigative review summaries analyzed transactions activities
from client statements, balance sheet/audited financials, turnover report and other KYC documents and provide final conclusion to AML/CFT Head before submission to external authorities.
4.Collaborate
with the AML team members regarding suspicious activities to ensure all documentation is followed up on and recorded properly.
5.Handle all queries received from the KFIU, and ensure responding with the required data and documents in a timely manner.
6.Analyze high-risk transactions (Cash, Chq, and Wire) activities and raise Suspicious Transaction Report (STR) to Kuwait Financial Intelligence Unit within two days of identifying the suspicions as per the KFIU circular dated 12 June 2014.
7.Conduct due diligence reviews and full financial assessment on individuals and organizations accounts to ensure accounts’ activities are in line with documented business/source of income.
8.Investigate PEP /VIP accounts and formally communicate any breaches to Unit Head and Senior Management
9.Perform required due diligence utilizing research engines and analysis of public records, databases, global media sources and the internet.
10. Responsible for handling all queries/searches sent by Kuwait Anti-Corruption Authority as and when it involved possible ML/TF activities
11. Responsible for handling all queries/searches sent by BANK Correspondent International/Local Banks as and when it involved possible ML/TF activities or part of BANK KYC review
12. Ensure responding to all inquiries sent by Central Bank of Kuwait with required information and documentation within the specified time frame.
13. Accountable for all queries received from other correspondent banks require full account
review (account statement/financials analysis), collecting and obtaining required documents and feedback from other business areas, as well as preparing final response.
14. Acting as main point of contact and representing BANK in investigation raised by
Kuwait Public Prosecutor.
15. Assist BANK AML/CFT Head in responding to National Committee inquiries pertaining to terrorism financing investigations.
16. Assist Head of AML/CFT to earn good audit rating through internal, external and CBK
inspections and ensure all agreed actions against audit reports observations are put in place within stipulated period.
17. Provide required assistance and guidance to other Divisions/Units on AML/CFT issues.
Job Details
| Posted Date: | 2018-12-09 |
| Job Location: | Al Kuwait, Kuwait |
| Job Role: | Banking |
| Company Industry: | Employment Placement Agencies/Recruiting |
Preferred Candidate
| Career Level: | Management |
| Degree: | Bachelor's degree |
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