Oversight Testing Compliance Officer

 

ABC seeks to recruit an Oversight Testing Compliance Officer in the Group Compliance Department based in Bahrain.

The Oversight Testing Compliance Officer will be responsible for executing Group Compliance Oversight Testing Plan by leading and managing oversight test reviews as well as acting as a subject matter expert for Group testing. The reviews are to assess the effectiveness of existing process controls and validate compliance with AML and regulatory requirements.

 

Scope of the Job

• Conduct oversight testing of key AML and Regulatory Compliance functions
• Maintain schedule of testing activities and communication plan with stakeholders
• Liaise with key stakeholders to validate test results 
• Ensure formal reporting on all oversight testing is conducted
• Review results and provide guidance to stakeholders on Group standards and best practices
• Follow up on issues in a timely manner and ensure they are tracked and reported at the appropriate level of seniority
• Conduct /maintain trend analysis on results of compliance testing for internal reports
• Provide subject matter expertise to Group MLROs on oversight testing
• Validate business unit test results to ensure testing is conducted in line with Group oversight testing methodology
• Prepare compliance testing reports where applicable and present findings to senior management
• Enhance relationship with stakeholders (both internal and external)
• Keep abreast with local AML and regulatory legislation and with international trends and regulations
• Keep abreast with AML regulatory activities and industry developments to identify trends and emerging issues.
• Assist in the development and revision of the annual compliance testing plan as appropriate
• Review and follow up of business unit testing schedules
• Assist the Risk Assessment Team in validating the Unit risk ratings, where applicable
• Work collaboratively with Operational Risk and Internal Audit to reduce any overlap in testing, where applicable
• Maintain an understanding of business operations
• Assist with ad-hoc compliance projects
• Lead or assist in investigating compliance issues such as regulatory or policy breaches, as needed
• Perform other duties as assigned by management

 

Areas of Knowledge, Qualification and Experience

• 5+ years of experience in the financial services industry with a focus on monitoring and testing, preferably with a strong background in operational risk and/or internal audit. Experience in overseeing projects across multiple jurisdictions
• 2+ years of direct AML work experience
• Minimum Bachelor’s degree (ACAMS, ICA and CIA is a plus)
• Deep knowledge of AML/CFT Bahrain laws and regulations
• Knowledge of AML/CFT international laws, regulations and international best practices 
• Demonstrated knowledge of AML investigation practices, risk management and compliance
• Excellent knowledge of Excel

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