Compliance Oversight Testing Officer

Job description

Bank ABC seeks to recruit a Compliance Oversight Testing Officer in the Group Compliance Department based in our Head Office, in Bahrain. The job holder will be responsible for executing Group Compliance Oversight Testing Plan by leading and managing oversight test reviews as well as acting as a subject matter expert for Group testing. The reviews are to assess the effectiveness of existing process controls and validate compliance with AML and regulatory requirements.

Responsibilities of the role

The job holder will be responsible to:

Conduct oversight testing of key AML and regulatory compliance functions

Maintain schedule of testing activities and communication plan with stakeholders

Liaise with key stakeholders to validate test results

Ensure formal reporting on all oversight testing is conducted

Review results and provide guidance to stakeholders on Group standards and best practices

Follow up on issues in a timely manner and ensure they are tracked and reported at the appropriate level of seniority

Conduct and maintain trend analysis on results of compliance testing for internal reports

Provide subject matter expertise to Group MLROs on oversight testing

Validate business unit test results to ensure testing is conducted in line with Group oversight testing methodology

Prepare compliance testing reports where applicable and present findings to senior management

Enhance relationship with stakeholders (both internal and external)

Keep abreast with local AML and regulatory legislation and with international trends and regulations

Keep abreast with AML regulatory activities and industry developments to identify trends and emerging issues

Assist in the development and revision of the annual compliance testing plan as appropriate

Review and follow up of business unit testing schedules

Assist the Risk Assessment Team in validating the Unit risk ratings, where applicable

Work collaboratively with Operational Risk and Internal Audit to reduce any overlap in testing, where applicable

Maintain an understanding of business operations

Assist with ad-hoc compliance projects

Lead or assist in investigating compliance issues such as regulatory or policy breaches, as needed

Perform other duties as assigned by management

Areas of knowledge, qualification and experience

3-4 years of experience in the financial services industry with a focus on monitoring and testing, preferably with a background in operational risk and/or internal audit. Experience in overseeing projects across multiple jurisdictions

Minimum bachelor's degree (ACAMS, ICA and CIA is a plus)

AML and regulatory compliance work experience

Knowledge of AML/CFT Bahrain laws and regulations

Knowledge of AML/CFT international laws, regulations and international best practices

Demonstrated knowledge of AML investigation practices, risk management and compliance

Excellent knowledge of Excel