Compliance (Investment Activities) – Senior Manager

19 سبتمبر، 2022

0 7 3 دقائق

الوصف الوظيفي

Job Purpose:

Responsible for monitoring the bank’s investment activities’ compliance with regulatory laws, and guidelines.

Business Specific:

1. Compliance support:

Identify the rules and regulations related to investment activities that the investment business is required to comply with.
Managing & strengthen compliance functions and ensure adherence to CBK requirements CMA executive bylaws by developing a risk-based compliance assurance program with regards to investment activities.
Review and develop compliance function policy and procedure.
Develop the regulatory inventory and compendiums with regard to investment activities based on the RACI matrix.
Lead the process of identifying new regulations and updates in existing regulations and assessing its impact on investment activities.
Coordinate with various bank departments to ensure implementation of CBK and CMA regulatory requirements.
Develop and oversee the implementation of a Compliance Monitoring and Testing Plan with risk-based sampling methodology.
Ensuring compliance with continuing obligations of the Markets where GBK is operating, as well as any new updates and developments.
Ensuring that any regulatory non-compliance is reported to the appropriate level of management on a timely basis.
Follow-up on appropriate corrective action in case of an identified compliance failure, and developing solutions to potential issues involving compliance and regulatory risk.
Communicate the preventive measures to the concerned department and perform periodic reviews and follow-ups on departments.
Providing compliance guidance in the development of business strategies and day-to-day operations.
Act as a resource for other departments to provide them with the necessary consultation and guidance with regards to CBK and CMA requirements.
Liaise with various bank departments to send required reports to CBK and CMA within the required time frame.
Develop training programs to the concerned departments’ staff on compliance.
Developing and strengthen the Bank’s Chinese wall and Fiduciary Manual accordance to the CMA executive bylaws.
Review new products and services prior to seeking the necessary CBK/CMA approvals and/or licenses.
Maintain an open-door culture by which employees can approach the Compliance function in regard to any compliance issues and breaches related to investment activities.
Act as the point of contact with regulatory authorities (e.g., CMA, KCC, Boursa Kuwait, etc.) in any regulatory communications pertaining to investment activities to address any queries or provide any required input, information or data.
Assist in regulatory inspections, and act as a liaison between the inspectors and the Bank Departments.

Ensure that required disclosures related to investment activities are performed in a timely manner in accordance to related regulatory requirements and taking into consideration the best interest of the business.
Maintain registers of investment related disclosures in accordance with relevant regulatory requirements.
Browse the economic pages in the daily newspapers and make sure there is no materials or reports – related to GB – that need to be commented upon by the department
Post disclosures on bank’s website

Generic:

Key Performance Indicators

Possesses the necessary Leadership and Professionalism skills.
Has excellent public speaking and presentation skills.
Effective at drafting of replies to CBK, CMA and other regulatory bodies.
Effective follow-up with concerned departments to send regulatory reports within time frame.
Effective follow-up with concerned departments to send disclosure materials to Boursa and CMA within time frame.

Generic KPIs

Staff and workflow scheduled effectively. Staff understand job requirements and procedures.
Compliance with all operational procedures and instructions, risk policies and all other role or department specific procedures and regulatory requirements

Knowledge:
Solid knowledge of CMA bylaws and other regulatory bodies’ laws in Kuwait. Solid knowledge of AML and Counter Financing Terrorism laws, regulations, and best practices.

Qualification:

Bachelor’s degree in Economics, Business Administration, Finance, or Legal. Post graduate degree is a plus.

Experience:

Minimum of 10 professional Years of experience with at least 7 in Compliance.

Certification/Accreditation:

CISI regulatory and technical qualifications of CMA’s qualification program is a plus. As well as other recognized certifications in compliance.