Author Topic: Compliance / AML Officer Job at Stanbic IBTC Bank Plc  (Read 279 times)

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Job Title: Compliance/AML Officer

Job ID: 11760

Location: Lagos, Nigeria

Company: Stanbic IBTC Bank Plc (part of Standard Bank Group)

Sector: Banking and Finance

Division: Group Risk Management

Position Category: Risk Management Operations

Employment Type: Full Time – Permanent

Shift: No

Regulatory Approval: Yes

Position Description

•    Compliance with the relevant Anti-Money Laundering and Combating the Financing of Terrorist and related activities (AML/CFT) legislations;

•    Monitoring transactions of customers to determine whether the transactions are in line with the customers profile;

•    Reporting of Suspicious/unusual transaction reports;

•    Rendition of AML returns to the relevant authorities i.e. Central Bank of Nigeria (CBN) and Nigeria Financial Intelligence Unit (NFIU);

•    Monitoring of all regulatory returns to ensure that such returns are rendered as and when due;

•    Carrying out of international & local research to keep abreast of current AML/CFT issues

KEY RESPONSIBILITIES:

•    Provide assistance on compliance issues arising out of fulfilling AML/CFT obligations.

•    Keep abreast with the Stanbic IBTC/Standard Bank AML operations, standards and controls.

•    Creation of awareness to members of staff on how to identify suspicious money laundering or terrorist financing activity and further assist in the reporting or investigation of suspicious and unusual transactions when required.

•    Assist with the review of developed training material pertaining to AML/ CFT.

•    Providing advice, support and guidance to both Business and Heads of Compliance in AML/CFT matters.

•    Attend to relevant projects or reviews and give input and perform allocated tasks in terms of all projects concerning AML/CFT. – Work with Group Sanctions desk & Financial Crime Control (FCC) to identify any gaps or areas of weakness that could be exploited for Money Laundering or Terrorist Financing purposes. – Suspicious transaction monitoring tools to detect irregular transactions systematically.

•    Assist in providing AML/ CFT support to Operational areas to ensure effective implementation of controls and processes.

•    Assist in compliance measures and determine appropriate remedial action plans (including, where necessary, timeframes and responsibilities).

Key performance measure:

•    Evaluate AML/CFT risks attached to Stanbic IBTC activities.

•     Identify deficiencies in AML/CFT control measures and determine appropriate remedial action plans (timeframes and responsibilities) with the management of the affected area.

•    Ensure the reputational risk of Stanbic IBTC and that of its subsidiaries is considered at all times.

•    Co-ordinate and provide input into all AML/CFT initiatives.

•    Maintain an advice log that includes key AML decisions and advice rendered.

•    Contribute to the AML/CFT framework.

•    Ensure necessary development and retention of AML/CFT related documentation/procedures/policies/manuals.

•    Assist and advice on the process to identify and monitor PEP’s and other targeted high-risk persons and entities.

•    Actively promote, on an ongoing basis, the culture of compliance to Business to ensure that Compliance and the AML/CFT visibility is improved.

•    Understand the impact of non-delivery or substandard performance.  

•    Be meticulous in administration and record keeping.

KEY PERFORMANCE MEASURES:

•    Evaluate AML/CFT risks attached to Stanbic IBTC activities.

•     Identify deficiencies in AML/CFT control measures and determine appropriate remedial action plans (timeframes and responsibilities) with the management of the affected area.

•    Ensure the reputational risk of Stanbic IBTC and that of its subsidiaries is considered at all times.

•    Co-ordinate and provide input into all AML/CFT initiatives.

•    Maintain an advice log that includes key AML decisions and advice rendered.

•    Contribute to the AML/CFT framework.

•    Ensure necessary development and retention of AML/CFT related documentation/procedures/policies/manuals.

•    Assist and advice on the process to identify and monitor PEP’s and other targeted high-risk persons and entities.

•    Actively promote, on an ongoing basis, the culture of compliance to Business to ensure that Compliance and the AML/CFT visibility is improved.

•    Understand the impact of non-delivery or substandard performance.  

•    Be meticulous in administration and record keeping.

Required Skills and Qualifications: BSc or any other degree qualification  

EXPERIENCE:

•    Minimum of four years’ experience in Compliance or another related discipline.

•    Thorough working knowledge of the Banking environment, systems and procedures.

•    Extensive working knowledge of applicable money laundering and terrorist financing legislation and controls in the Nigerian environment. .

•    Good understanding of the regulatory requirements in the international environment.

KNOWLEDGE:

•    Solid understanding of the nature of the business and products in the banking environment

•    Ability to take the understanding of business needs and operations and to translate it into risk management solutions

•    In depth knowledge and understanding of the legislative and regulatory requirements (current and proposed) relating to Banking as well as internal compliance related policies and procedures

•    Ongoing awareness of other legislation and regulations which relate to the Stanbic IBTC Group’s business, as well Compliance best practices and trends

•    Keep abreast of international developments and best practice relating to AML/CFT

•    Ongoing awareness of AML/CFT activities and developments

•    Ability to give technically sound advice.

Required Competencies:

TECHNICAL COMPETENCE:

•    Thinking, problem solving, innovation

•    Analytical skills

•    Decision Making

•    Generates focused practical solutions

•    Demonstrates sound judgement

•    Working under pressure and meeting targets

•    Technical proficiency

•    Microsoft Office

PERSONAL COMPETENCE:

•    Good verbal communication; pays attention to detail, methodical, diplomatic, able to handle pressure/conflict, results-orientated, people management skills, team player, able to retain optimism despite setbacks, self-motivated.

•    Relationship management, customer service orientated, ability to accept responsibility, demonstrates trustworthiness & integrity, willing sharing of knowledge, open to change.

•    Ensures consistent, regular contact with clients, Communicates confidently with all levels of the business (local and globally), Communicates technical/specialist training clearly and in line with business needs, Handles difficult situations tactfully and diplomatically.

Problem solving and decision making:

Problem solving;

•    managing work volumes

•    dealing with difficult customers

•    enabling the Business to develop innovative products, solutions, processes, procedures and practices in restrictive legislative environments

•    Applying a risk based approach to AML/CFT sometimes  in the absence of clear guidance from the regulators

•    Recognising and addressing the ML/TF risks associated with proposed or existing products, solutions, processes, procedures and practices

Decision making;

•    Accountable for operational decisions related to the job description

Working conditions;

•    Demanding but exciting working environment fast paced & delivery orientated.

•    Must be able and willing to travel when necessary

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