CalBank PLC has brought to the notice of the general public the job roles vacant at the moment and is encouraging all eligible persons to pen down their applications to the bank.
Purpose of Role
The compliance department is in charge of enforcing Know Your Customer (KYC) and Customer Due Diligence (CDD) standards. It also establishes Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) safeguards to prevent the bank’s systems, channels, products, and services from being used for criminal purposes. It also protects employees from being used as accomplices in money laundering, terrorism funding, and other similar acts.
The Compliance Manager (Regulatory, Policy, and Reporting) is responsible for ensuring that the bank follows various statutes, regulations, directives, notices, guidelines, and standards established by Ghana’s parliament, the Bank of Ghana, the Securities and Exchange Commission, and other regulatory agencies. This includes complying with Acts such as the Companies Act 2019 (Act 992), the Banks and Specialized Deposit Taking Institutions Act 2016 (Act 930), the Securities Industries Act 2016 (Act 929), the Anti-Money Laundering Act 2020 (Act 1044), and the Anti-Terrorism Act 2008 (Act 752).
Responsibilities and Duties
Report to the Head of Department all Statutory and Regulatory activities.
Oversee the department’s regulatory functions, ensuring that legislative and regulatory obligations are met.
Coordination of Compliance and AML/CFT&P reports for Management, Board, and Regulators, subject to Head of Department review.
Manage compliance liaison with regulators, correspondent banks, law enforcement, major shareholders, and other counterparties for AML/CFT&P and compliance engagements.
Manage the Bank’s Regulatory Compliance Universe, keeping it up to date with new releases and monitoring all regulatory and statutory requirements to ensure full compliance.
Oversee the Bank’s Regulatory Reporting Tool, keeping it up to date with reporting requirements, guaranteeing the timely submission of all regulatory/statutory reports, and ensuring complete compliance.
Coordination of the review and updating of current compliance-related policies as ordered by the Head of Compliance, and submission to the Head of Department for review
Coordinate the development of new compliance-related policies and submit them for approval, as the Head of Compliance has instructed.
Create and submit all regulatory compliance and AML/CFT&P reports to appropriate regulatory authorities (BOG, FIC, FATCA, CRS, and so on).
With the aid of the Compliance Manager (Due Diligence and AML/CFT&P), coordinate the Bank’s annual Enterprise-wide AML/CFT&P Risk Assessment for submission to regulators after management approval.
Conduct regulatory risk assessments for new and existing goods, delivery channels, and services, creating reports for regulatory and management submission.
With the aid of the Compliance Manager (Due Diligence and AML/CFT&P), coordinate the preparation of the Bank’s annual Compliance and AML/CFT&P Program and Training Program for approval and subsequent submission to regulators.
Oversee the creation and revision of Procedures and Process Maps for the Department.
Ensure that the Compliance Portal in the Risk and Control Library is kept up to date with relevant resources such as laws, regulations, guidelines, directives, notices, policies, procedure manuals, process maps, AML/CFT&P dashboards, and publications (local and international compliance and AML/CFT&P publications), and other training materials.
Visit and audit Branches and Departments for regulatory compliance in accordance with the yearly compliance audit plan, providing corresponding reports to the Head of Compliance/AMLRO.
Assist the Compliance Manager (Due Diligence and AML/CFT&P) in coordinating and implementing AML/CFT&P training and assessment across the bank.
Attend Policy and Procedure Oversight Committee Meetings at the Bank, offering a regulatory perspective on Policies and Procedures.
Work with the HoD to identify and recruit competent people for important jobs within the unit, as well as to improve staff competencies to fulfill operational requirements.
Collaborate with the team’s head of department to establish goals, evaluate staff performance, and execute coaching and development initiatives.
Work with the HoD to identify and develop prospective future business leaders, providing sufficient succession planning.
Carry out any other responsibilities delegated by the Head of Compliance/AMLRO.
Education and Experience
A bachelor’s degree in finance, business administration, law, or a related field is required.
A Master’s Degree in a related discipline is preferred.
At least 8 years of overall work experience, including at least 4 years in a supervisory role in Compliance, AML/CFT&P, Risk Management, or comparable subjects within the financial industry or banking sector
Professional membership in the Association of Certified Anti-Money Laundering Specialists (ACAMS), the International Compliance Association, or any other recognized professional body relating to money laundering
Professional compliance qualifications, such as Certified Regulatory Compliance Manager (CRCM), Certified Anti-Money Laundering Specialist (CAMS), or similar, are highly desired.
Previous experience producing and submitting Compliance and AML/CFT&P reports to Management, the Board of Directors, and regulators
Prior experience creating and revising compliance-related rules and procedures
Knowledge of Microsoft Office tools (Excel, PowerPoint, Word, and so on).
Proven track record of liaising on compliance issues with regulators, correspondent banks, law enforcement, major shareholders, and other counterparties
Experience working with regulatory agencies as well as managing compliance visits and audits.
Excellent writing and verbal communication abilities, as well as the ability to provide regulatory viewpoints for policies and processes.
Leadership experience, including managing teams and setting performance goals for employees.
Solid understanding of risk management principles and procedures as they apply to compliance tasks.
Excellent analytical and problem-solving abilities, as well as a keen eye for detail and precision.
Closing Date: 19th November, 2023
