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Head of Financial Crime Compliance

Job Title: Head of Financial Crime Compliance
Contract Type: Permanent
Location: Baghdad
Salary: Neg
REF: 1391
Contact Name: Hawkar Ahmed
Job Published: over 2 years ago

Job Description

Mselect is urgently looking for a Head of Financial Crime Compliance for one of the international banks in Baghdad, Iraq. Someone who can deal with the central bank (preferably has some relations with CBI), has AML experience (anti money laundry) and  has the right communication skills. Apply if you have the right qualifications as mentioned below:

Job Description:

• To assist management in ensuring that the business is operated in accordance with all legal and regulatory requirements and all Group standards relating to execution of the Anti-Money Laundering (AML), Sanctions and Anti-Bribery and Corruption (ABC) programmes to protect and enhance the reputation of the Bank with its regulators and avoid significant financial loss or reputational damage


Key Roles & Responsibilities

• Ensure Country CEOs and regulators are provided with assurance that end to end AML/Countering the Financing of Terrorism (CFT)/Sanctions/ABC risks are managed within the Country in line with the Group’s global compliance frameworks for financial crime compliance.
• Ensuring Group AML standards conform to local laws and that where there are gaps, ensure that they have in place dispensations for variances to the extent permitted by local laws
• Monitoring of local regulatory and law changes and ensuring that relevant groups are advised
• Liaison & Relationship management with local law enforcement
• Second line oversight of financial crime processes owned by the first line, including CDD, AML Surveillance, and Customer Screening in the country,  supported by GTO; Regional / Group FCC; Regional L&C; business L&C
• Execution and assurance of financial crime surveillance and intelligence operations in the country (including testing Group Shared Service Center (GSSC) in Chennai, KL, Tianjin where appropriate).
• Management of escalation process for significant surveillance cases and SAR reports to Country management and Regional / Group FCC.
• Agreement with and country execution of surveillance and intelligence standards set by regulators or  Global Head of FCC and ensure that it is effective in the country.
• Assisting the Regional FCIO with Customer Matching Report (CMR) alert investigations and providing country level expert support to FCIO on CDD research reports, where applicable
• Gathering intelligence at a country level, inputting into case manager and escalating significant issues to Regional FCIO
• Provision of investigative research/expert advice and recommendation on potential high risk accounts escalated by CDD advisory and issues which arise in the country
• Provision of transaction based advice on sanctions matters to standards set by the Head of Sanctions Updating Management, in support of country compliance head, on trends of significant fraud and money laundering.
• Ownership and assurance of the ABC programme for the country.
• Country Money Laundering Reporting Officer (MLRO); implementing effective SAR reporting procedures in accordance with the local and Group requirements
• Provide support to country on regulatory relationship management and exams relating to FCC
• Assisting in FCC Assurance Testing
• Conducting investigations in country: significant cases as defined under the Group Investigations Procedures, Bribery and Corruption cases, speaking up cases, data theft cases etc.
• Prepare lessons learned documents (from SARs & AML Investigations) and share with business advisory teams and Regional Head, FCC for cascade to other FCC teams.
• Monitor and escalate significant changes to Money Laundering risks affecting country, including the development and performance of country level AML risk assessment.
• Ensure provision of appropriate FCR awareness & training (i.e. SAR and financial crime trends, AML investigation outcomes, lessons learned) within country through country training managers.
• Preparation and management of country metrics/reports.
• Accountability for country level case management data entry and assurance
• Appointment and management of FCC vendors used in country
• Analyse and escalate regulatory developments relating to all issues in the country to the Regional FCC Head, so that Group policies and procedures may be updated where necessary.
• Raising the profile of SCB in the country as leading the way in tackling financial crime, for example through regional focus/benchmarking groups (ACAMS etc.) and representing SCB at country FCC forums
• Ensure that countries identify additional local requirements for FCC beyond Group standards and that those additional local requirements are implemented. 
• Ensuring there is capacity in line with the Group’s objective for the management of financial crime developing and/or continuously reviewing the Bank’s procedures and systems to ensure they remain up-to-date and meet current local statutory and regulatory requirements
• Operational Fraud Risk Assessments (where applicable and on request of Group Risk-Fraud)
• The communication of key AML/CFT issues with senior management, including, where appropriate, significant compliance deficiencies
• As Country MLRO, ensuring that all internal disclosures and exception reports are thoroughly and timely investigated, and, in light of all available relevant information, determining whether or not it is necessary to make a report to the FIU and acting as the main point of contact with the FIU, law enforcement, and any other competent authorities in relation to ML/TF prevention and detection, investigation or compliance.

• Country Head of Businesses (C&I, Reail)
• Country CEO
• Country Audit
• Country business Operational Risk
• Country  business Operations
• Regulators
• Peers in other banks


Qualifications & Skills:

• Substantial experience in financial crime risk management.
• Substantial experience in the banking industry, including demonstrated success in a similar role.
• Sharp business acumen (including ability to assess risk and appropriate levels of return), strong leadership qualities, excellent interpersonal skills and multi cultural awareness and sensitivity.
• Strategic vision for the Country
• Ability to collaborate and work dynamically across country, region, business and group stakeholders.
• Understanding of best practice risk management techniques and frameworks.
• Understanding of the key features of relevant laws and regulations relevant to the Country
• Sound judgment on business practices, regulatory relationship management and reputational risk.
• Exemplary integrity, ethics, independence and resilience.