Under the supervision and direction of the Compliance Manager to:
Participate in the designing, development and effective implementation of Compliance policies related to Anti-Money Laundering, Combating the Financing of Terrorism, KYC, Sanctions, and Taxation.
Manage attending to compliance issues applicable to IsDB operations, including ascertaining compliance needs in procurement, project implementation, and develop a Manual of Procedures covering all IsDB business activities and benchmark internal policies with the international standards.
Lead in establishing linkages and enhancing cooperation with other MDBs and standard-setting organizations in compliance-related issues; and Manage under the supervision of the Manager dealing with the exemptions, immunities, privileges and compliance with international standards & regulations.
Key Accountabilities:
Strategic and Operational Responsibilities:
Participate in the preparation of strategic annual work plans, resource planning and annual budget plans for the Compliance Unit.
Participate in the development and effective implementation of IsDB Group policies, procedures and institutional statements related to AML/CFT/KYC/Taxations/Sanctions in accordance with international standards and MDBs practices.
Participate in the formulation and development of action plans in conjunction with the relevant departments to establish an effective compliance mechanism across the IsDB Group.
Lead the evaluation and monitoring of existing procedures and develop new procedures, systems and controls in an MDBs environment to ensure compliance with the current AML/CFT requirements.
Lead the evaluation and monitoring of existing legal documents of the IsDB Group from the compliance risks mitigation point of view and make recommendations for improvements.
Lead in establishing contacts and cooperation with specialized international/regional organizations related to AML/CFT and obtain memberships/observer status for IsDB at the relevant international organizations.
Lead in establishing communication channels with the Compliance functions of other and partner MDBs/IFIs for mutual cooperation and capacity development initiatives.
Lead in obtaining recognition of internationally exempted status for IsDB Group and securing immunities and privileges on par with other MDBs.
Lead the preparation of AML/CFT reporting metrics for the Senior Compliance and Management Committees and Board etc.
Lead in assisting IsDB Member Countries to address AML and CFT risks, establishing contacts and cooperating with specialized international/regional organizations in the common Member Countries.
Lead in the standardization and harmonization of institutional statements for counterparties’ related enquiries.
Participate in the relevant committees’ meetings, audits and examinations specific to AML/CFT/Taxations/Sanctions etc., to check and monitor potential exposure to reputational risks at different rent levels of the projects.
Lead in the selection and procurement of screening tools and systems related to AML/CFT/Taxations/Sanctions/ risk mitigation etc., and regularly check its efficiency and effectiveness.
Lead the establishment of record keeping system and local database etc.
Keep abreast with the latest and emerging compliance issues and recommend appropriate measures to control and mitigate compliance risks within IsDB Group.
Represent the IsDB Group at various external fora, including regional and international events organized by the FATF, MDBs, etc., to establish a strong image of the IsDB Group.
Conduct / organize training and awareness programs for the relevant IsDB staff on a regular basis to promote and improve the organization's pro-compliance culture and ethical business decision-making at every level.
Regularly organize trainings for the staff of Operations Complex.
Academic and professional qualifications:
Master’s degree in Law/ Economics/ Business Administration or related discipline.
Professional training in Compliance/ banking regulations.
Minimum 8 years of relevant experience in legal or compliance work in the banking sector, of which 3 years in the supervisory role.
Skills & Necessary Knowledge:
Expertise in MDB’s compliance matters, e.g. sanctions, financial transactions, AML, CFT, KYC, taxation, legal status, business, immunities, and privileges.
Appropriate knowledge of operations, project management, project finance and project procurement system of international financial institutions.
Expertise in the preparation of work plans, periodic reports and budgets.
Expertise in the development of policies, procedural guidelines, and institutional statements.
Expertise in compliance risk mitigation in legal documentation.
Knowledge of compliance-related software applications.
