- Drive, coordinate and monitor initiatives and actions to ensure the Bank operates in accordance with the relevant laws and regulations and policies and standards including those relevant to the prevention of money laundering.
- Provide timely regulatory advice and recommendations on key issues (including on Prudential Regulations, in partnership with Businesses and Functions) and proactively monitor regulatory developments.
- Provide guidance on proper application and interpretation of banking laws, regulations and policies applicable to the Businesses.
- Ensure AML regulations, policies and requirements are clearly communicated to management and staff members
- Set control standards and provides advice on the development of appropriate controls for the mitigation of regulatory risks.
- Assist in overseeing relevant administration and licensing as required by the local regulatory requirements.
Regulatory Compliance Training:
- Deliver or procure delivery of a program of activities that educates and encourages managers and staff to operate in compliance with relevant laws, regulations and policies. Such training would include key Group compliance and regulatory issues, for example Outsourcing, Senior Management Responsibilities and Code of Conduct.
- Manage, coordinate and deliver appropriate training programme to ensure staff members are sufficiently trained to apply and administer AML related controls in their day to day business activities.
- Assist in the development of an effective country-wide compliance culture by promoting the benefits of ethical business conduct and benefits of compliance.
Compliance Monitoring & Reporting:
- Establishes and coordinates the risk-based Compliance Monitoring Plan to include relevant ORA, business specific compliance reviews, other functional compliance reviews, routine checks and approval.
- Coordinates and performs Regulatory Compliance Reviews in businesses, branches and functions.
- Ensure all Control Room procedural requirements are met, including PDRs and disclosure requirements.
- Reporting to Country, Group and management on the country overall AML status. This includes reporting of AML metrics, trends and risks (both existing and emerging) for management actions and decisions.