Head of Financial Crimes

 

 

• Deterrence of Money laundering

 

 

• Prevention of Terrorist financing

 

 

• Monitoring and Reviewing of Exceptional Customer Transactions

 

 

• Reporting Suspicious Transaction Reports (STR)

 

 

• Management of BSF Global Sanction policy including Embargoes and Asset freezes

 

 

• Supervision of Anti bribery and Corruption practices

 

 

• Organizational (by business lines/ support and control function) AML & CTF Assessment

 

 

• Application of best international standards and practices in respect of AML & CTF

 

 

• Building and applying risk based AML & CTF approach

 

 

• Developing holistic AML & CTF Program and Policy

 

 

• Constituting AML & CTF awareness and training material by product, service, business and jurisdiction

 

 

• Participation in the process of educating and training bank employees in relation to Anti money laundering and terrorist financing. Also; visiting BSF branches and departments. 

 

 

• Responding to SAMA queries and requests efficiently.

 

 

• Management of external and internal queries concerning anti money laundering and terrorist financing matters.

 

 

• Maintaining a data base comprising of data relating to anti money laundering and terrorist financing matters 

 

 

Accountabilities:

 

 

• To keep the Chief Compliance Officer (CCO) informed on an ongoing basis of the quality of compliance with AML & CTF rules and requirements, management of embargoes and assets freezes, transactional monitoring, AML & CTF policy and procedures, training and on the deficiencies / gaps (if any), and the status of corrective actions on SAMA Inspection reports and relevant matters.

 

 

• To develop and distribute the BSF Anti-Money laundering & Combating Terrorist Financing (AML & CTF) policy and procedure

 

 

• To participate in the production, documentation, and approval of the annual compliance plan which includes identification of principal tasks and action plans concerning the functions of the Financial Crimes- Anti Money Laundering and Combating Terrorist Financing Department.

 

 

• To monitor changes of applicable laws / regulations that may require revisions to the AML&CTF Manual and incorporating revisions

 

 

• Maintenance of Anti Money Laundering System including technical developments and enhancements.

 

 

• Establishing a robust Anti Bribery and Corruption mechanism and reporting system process including   developing Anti Bribery and Corruption policy.

 

 

• Creating Whistle blowing policy and founding mechanism and procedures for appropriate implementation of whistle blowing policy.  

 

 

• To perform risk assessment of BSF products, services in respect of AML and CTF risks.

 

 

• To carry out organizational (bank wide) risk assessment with regards to AML & CTF

 

 

• Monitoring and review of exceptional reports in respect of customers’ profile and transaction.

 

 

• To investigate customer transactions appearing in “Exception Reports”.

 

 

• Presenting “Suspicious Activities Reports” to the Chief Compliance Officer (CCO).  

 

 

• Reporting “Suspicious Activities Reports” to the relevant authorities (Financial Intelligence Unit and SAMA) with pertinent details and documents.

 

 

•  To handle inquiries of correspondent banks and other relevant external bodies related to BSF and its customers including coordination with relevant business lines for information and assessment of the transactions in question, informing the Chief Compliance Officer and replying back to the correspondent banks / external bodies through relevant functions/ departments.

 

 

• To provide regular guidance to employees, regarding compliance with AML & CTF laws, regulations, and BSF policies.

 

 

• To work closely with Compliance training department under Compliance Control Monitoring Division and developing comprehensive AML & CTF training program based on products, services and jurisdiction

 

 

• Visiting branches and delivering training and awareness on AML & CTF matters.

 

 

• To develop and distribute BSF Global Sanction Policy and Procedure Manual

 

 

• To monitor changes of applicable laws / regulations that may require the revisions to BSF Global Sanction Policy and procedure and incorporating applicable revisions.

 

 

• To make sure that all sanctions lists are maintained and updated in sanction screening system records to comply with SAMA instructions.

 

 

• To ensure that appropriate procedures and electronic systems are in place for screening and assessing customer’s names at the time of account opening and carrying out a transaction

 

 

• To handle inquiries of the regulatory and external bodies relating to screening negative / suspected names against BSF customer database and act as advised.

 

 

• To maintain appropriate records and audit trail of the funds held / frozen on the instructions of the regulatory bodies and ensuring strong monitoring controls and confidentiality.

 

 

• To provide regular guidance to employees on the application of BSF Global Sanction Policy and their responsibilities.

 

 

• To ensure that appropriate procedures are in place including responsibilities and controls for handling matters related to negative / suspected names.

 

 

• To maintain good relationship with both SAMA and Financial Intelligence Unit (“FIU”) and to make sure inquiries received are handled appropriately and replied within the given time frame.

 

 

• To maintain suitable record of the activities performed by the Financial Crimes- Anti Money and Terrorist Financing Division and provide information as and when required for internal / external reporting

 

 

 

 

• Advanced Level Diploma/s from a University and other Certified Educational Institution or Bachelor Degree of Management\ administration\ economics or other related majors.

 

 

• Good professional experience in Compliance, Operations Support, Policy and Regulatory Affairs in the banking industry.

 

 

• Fluent English language skill (speaking, reading and writing)

 

 

• Communication skills

 

 

• Leadership skills

 

 

• Computer skills

 

 

• Very good knowledge in Compliance, Banking and Finance.