Compliance Officer/ Money Laundering Reporting Officer

Job description / Role

Compliance Department reports on a regular basis and promptly where deemed necessary to the GM and, if necessary, ICBC Head Office.

The Compliance Officer will also report to ICBC Head Office on matters relevant to the compliance policy and the status and efficiency of its implementation.

Other key responsibilities of the Compliance Officer are as below:

* Identifying and assessing the compliance and reputation risks associated with the Branchs current and proposed future business activities, including new products, new business relationships and any extension of operations.

* Identifying and keeping an inventory of essential laws and regulations pertinent to the Branch and make available to all staff.

* Advising senior management on the applicable laws, regulations, rules and standards and informing them the current developments of these areas.

* Establishing written guidelines to staff and service providers on the appropriate implementation of the laws, regulations, rules and standards through policies and procedures.

* Assessing the appropriateness of internal policies, procedures and guidelines, ensure of follow-up of any identified deficiencies, make recommendations for amendments, where necessary, and supervising the implementation of corrective measures to mitigate the identified deficiencies.

* Monitor compliance with internal policies, procedures and guidelines by performing regular and comprehensive compliance risk assessments and testing.

* Centralize all information on compliance-related issues for example breach of regulation, non-respect of procedures and conflict of interest.

* Educate staff with respect to compliance with the applicable laws, rules and standards and act as advisor on compliance queries from staff members.

* Liaising with relevant external bodies and regulators on compliance matters.

* Exercise any specific legal responsibilities such as reporting suspicious transactions related to money laundering and the fight against terrorism financing.

In the capacity as Money Laundering Reporting Officer (MLRO), the Compliance officer shall also fulfill the following responsibilities:

* Establishing and maintaining AML/CFT policies, procedures, systems and controls and compliance with AML/CFT legislation and regulation applicable in the Kuwait.

* Day-to-day operations for compliance with the AML/CFT policies, procedures, systems and controls.

* Receiving Internal Suspicious Transaction Reports (ISTR) from employees.

* Taking appropriate action following the receipt of an ISTR.

* Making external STR to the FIU and notifying the Central Bank of Kuwait.

* Acting as the point of contact for the Central Bank of Kuwait and other competent authorities regarding AML/CFT.

* Responding promptly to any request for information made by the Central Bank of Kuwait and other competent authorities.

* Receiving and acting upon findings.

* Establishing and maintaining an appropriate AML/CFT training program and adequate awareness arrangements to ensure the staff understand the AML/CFT framework.

* Making annual reports to senior management, the Head Office and the Central Bank of Kuwait.

* Any other responsibilities requested by senior management in relation to group AML such as consultancy.

Requirements

* Kuwait National.

* Fluent English and Arabic is essential (Chinese language is a distinct advantage).

* Excellent communications skills, both written and verbal.

* Ability to multi-task and re-prioritize work and demands throughout the day.

* Excellent relationship building skills.

* Ability to interact with varying levels throughout the organization.

* Self starter with the ability to not only recognize tasks to complete but also how best to effectively and efficiently complete them.

* The ability to recognize work in the pipeline and willing to work to completion.

* 5 to 7 years experience in a Kuwaiti Bank (Foreign Bank in Kuwait preferred).

* A degree in LAW will be considered as a distinct advantage.

* MS Office proficiency.

About the Company

Industrial and Commercial Bank of China Ltd. (ICBC) is China's largest bank and the largest bank in the world. It is one of China's "Big Four" state-owned commercial banks (the other three being the Bank of China, Agricultural Bank of China, and China Construction Bank). It is the largest bank in the world in terms of market value, the world's largest bank by deposits, and the world's most profitable bank.

In October 2008, the opening of Industrial and Commercial Bank of China (Middle East) Limited ( regulated by the Dubai Financial Services Authority) allows ICBC to become the pioneer among the Chinese financial institutions for the Middle East market. With strong support from its Head Office located in Beijing, ICBC Middle East support the financial needs of the UAE and the Middle East area, provide a comprehensive international trade,overseas financing against domestic support, project finance, clearing and settlement, and a series of financial services, become a link of economic and trade exchanges between China and Middle region.