CIB Compliance Officer
Job ID12586
Location Nigeria
Division Group Risk Management
Position Category Risk Management Operations
Employment Type Full Time – Permanent
Shift No
Regulatory Approval Yes
Post Closing DateApr 9, 2014
Position Description
Job purpose
• To ensure that all CIB Compliance issues are properly identified, tracked and effectively managed.
• To provide necessary support to the business in respect of compliance issues.
• To maintain and develop a thorough understanding of the relevant rules and regulations applicable to CIB Business units.
• To maintain and develop a thorough understanding of the relevant requirements and policies applicable to the CIB business, thereby facilitating the establishment of a compliance culture.
• To guide members of the CIB business to act with integrity, competence, diligence, respect and in an ethical manner in dealing with all clients.
• To ensure Compliance with relevant Anti-Money Laundering and Combating the Financing of Terrorist (AML/CFT) legislations and related activities.
• To ensure effective monitoring of all regulatory returns across the CIB businesses to ensure that such returns are rendered as and when due.
• Conducting research (international & local) to keep abreast of current compliance and AML/CFT issues.
Key responsibilities • Develop strong working relationships with the CIB Business units.
• Provide assistance and advice on compliance issues e.g. new business, new products, new regulatory initiatives and AML/CFT.
• Provide guidance on compliance requirements.
• Monitor Personal Account Trading (PAT) within the CIB Business units and investigate potential problem areas/trades.
• Assist the CIB Business units with resolution of compliance audit issues.
• Conduct monitoring exercises in CIB Business units.
• Review and approve requests for employees to gain access to areas behind “Chinese Walls”/ cross “Chinese Walls” for a specific deal
• Assist as and when required, in the development, drafting and updating of procedures/processes/policies and related training programmes/manuals and the delivery of training that is tailored to the CIB Business unit needs.
• Monitor effectively the level of compliance with policies such as Market Abuse Policy, Conflict of Interest Policy, Gift and Entertainment Policy, Outside Business Interest (OBI) Policy, Conflicts of Interest, etc.
• Keep abreast with the Stanbic IBTC/Standard Bank AML operations, standards and controls.
• Assist with the review of developed training material pertaining to AML/ CFT.
• Attend to relevant projects or reviews and give input and perform allocated tasks in terms of all projects concerning Compliance/AML/CFT.
• 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 • Ensure all new products and businesses are taken through the product approval process (NPC).
• Ensure that all new regulatory and or compliance initiatives are communicated to relevant CIB business units.
• Identify deficiencies in AML/CFT control measures and determine appropriate remedial action plans (timeframes and responsibilities) with the management of the affected area.
• Ensure effective and timely “Wall Crossing” of employees within the CIB business.
• Timely review of Compliance policies, standards, manuals, including gap analysis of regulatory requirements.
• Timely rollout of Compliance Risk Management Plans (CRMPs) and effective monitoring of legislations and regulations in line with agreed timelines.
• Ensure proactive engagement and timely review of new product papers.
• Assist the CIB Compliance Manager to prepare training slides and make necessary arrangement to provide excellent training experience.
• Co-ordinate and provide input into all AML/CFT initiatives.
• 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 PEPs and other targeted high-risk persons and entities.
• Actively promote, on an ongoing basis a culture of Compliance within the CIB Business units.
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