Compliance Officer / MLRO

Job description / Role

Area of Operations:

A Compliance Officer (CO) responsible for the oversight, management, and administration of the development, implementation, and daily operational tasks for maintaining an effective Compliance Program (Program). A Head of Compliance is to be responsible for all areas of regulation and compliance in the Bahrain operation.

• The CO has unrestricted authority to review documents and information relative to compliance audit activities; access to employees, contracted professionals, agents, and other third parties retained by the organization.
• The CO oversees Department projects, supervises Department staff, and administers compliance activities.

Responsibilities:

The CO is responsible for performing the following duties:
• Developing, modifying, and implementing compliance policies and procedures;
• Administering compliance activities and supervising compliance staff;
• Monitoring compliance with the Code of Conduct;
• Maintaining compliance reporting systems;
• Evaluating, investigating, and documenting reports of non-compliant activity;
• Coordinating internal compliance investigations and routine audits;
• Developing and reviewing compliance education programs;
• Serving as coordinator for external investigations and inquiries related to the Program;
• Reporting compliance issues and activities on a regular basis to the Finance & Audit Committee of the Board;
• Preparing formal and informal responses to governmental investigations, inquiries, and requests with guidance from the Risk Management Officer and Senior Management as appropriate;
• Promoting compliance awareness throughout the organization through signs, emails, posters, displays, handouts, and activities;
• Recording activities requiring CO time and resources to document hours spent on compliance emails, phone calls, requested conflict of interest reviews, administrative responsibilities, and continuing education.
• To develop and implement all aspects of Anti-Money Laundering policies and procedures.
• To ensure the group has the necessary systems to facilitate compliance with the Central Bank of Bahrain (CBB) / local Anti-Money Laundering (AML) regulations.
• Report to the Board and Senior Management on critical AML issues requiring their attention.
• Carry responsibility for overseeing and monitoring all daily AML tasks and functions
• Monitor adherence to the requirements of the AML Manual, Compliance Manual and the status of any necessary corrective action.
• Act as coordinator between Operations and Operational Risk Management on the development and production of Key Risk Indicators (KRIs)
• Assist in the selection, creation, testing and implementation of new reports & Compliance related systems
• Liaise with HR to ensure that all ‘relevant’ staff receive AML and CBB regulatory training with the required frequency
• Development and production of Key Risk Indicators (KRIs)

Requirements

Required Skills
The candidate we are looking for will be driven and want to grow with the company. They will also be an excellent and confident communicator with a positive attitude along with the ability to work on own initiative.

Reporting to:
General Manager

Education:
• 5 or more years’ experience in a Senior Compliance function within financial services sector within the GCC.
• Must have Compliance professional qualification of CISI or ICA.
• Must have AML qualifications through ICA, CISI or ACAMS
• Excellent communicator
• Team player
• Confident & Self-motivated
• Able to act with a minimum of supervision
• Strong investigational, analytical, ethics and problem-solving skills
• Ability to hit the ground running
• Extraordinary attention to detail

We offer
We provide security and career opportunities.
• Visa sponsorship
• Medical
• Life cover

About the Company

NEXUS Group - Nexus Insurance Brokers / Nexus Financial Services are the largest financial advisors in the GCC and one of the largest in Singapore offering a composite suite of insurance, savings and investment products to both corporate and individual clients from a range of international and domestic product providers.

As qualified professionals, Nexus is a company you can trust and as an independent organisation, free from ties to a particular product provider, we can meet those needs with carefully selected solutions from the world’s foremost financial services and insurance companies, including insurance companies in the UAE.

Nexus has over 550 qualified professional consultants and is actively supported by over 160 dedicated and qualified management and support staff globally offering a broad range of licensed products from regulated providers. The company was established in 2006 by Mahmoud Nodjoumi, founder and chairman, through a management buy-out of the distribution arm of Zurich International Life in the Middle East which had been established in the region since 1989. With over twenty five years’ experience in the GCC (Gulf Cooperation Council), Nexus operations are located in Dubai, Abu Dhabi, Qatar, the Kingdom of Bahrain and Kuwait to underpin a professional and quality level of service to our clients.