Purpose and Scope:
Ensures, through education, surveillance, enforcement and resolution of issues that the Bank and its employees comply with the various laws, regulations, policies, and standards governing the banking industry. Handling all compliance matters in regards with associates & subsidiaries companies, provide compliance advice, monitoring and oversight of effective compliance management program for BB’s group.
- Identifies, documents, and assesses on a proactive basis the compliance risks associated with the Bank’s business activities. Monitors, develops, and updates the Compliance Program, including the Compliance Policy, the Organization-wide policies, and establish business model risk based compliance program, and the relating procedures to support the overall compliance program for the group.
- Establishes and implements periodic monitoring, surveillance, and evaluation programs to effectively assess the adequacy of bank’s policies, procedures, products and other services with respect to compliance with regulator’s requirements, and works with appropriate parties to authorize and implement corrective action to resolve Compliance deficiencies.
- Develops a risk based program /manual for BB’s group in accordance with the regional and international regulatory requirements and performs risk assessment to properly cover the compliance high risk areas which require frequent testing.
- Coordinates with government agency representatives during any inquiry or investigation and acts as the main focal point. Ensures that any compliance related reports to state or other compliance related agencies such as (CBK, KSE, external auditors, CBK inspectors…etc.) are filed appropriately.
- Establishes a compliance testing plan, and conducts compliance checking through random samples to ensure that the bank is in compliance with regulatory bodies, particularly with CBK regulations and rules, and considers ways to measure compliance risk and uses those measurements to enhance compliance risk assessment.
- Regularly prepares and presents a list of all CBK regulations for each of the business groups and solicits group head confirmation on their compliance. Regular reporting to the direct manager concerning any branches deficiencies.
- Responds to inquiries from employees and/or various regulatory agencies with respect to investigations, customer complaints, routine surveillance and other compliance related matters.
- Support to business areas/external sites on the implementation of proper internal controls, corporate governance principles, etc. to comply with regulatory guidelines.
Develops and maintains a positive working relationship between Burgan personnel and Regulatory Commission members and staff.
Monitors trends and regulations; develops recommendations for changes to Burgan’s policies and procedures and ensures updating such policies and procedures accordingly.
- Performs other duties in line with scope of work and as instructed by the direct manager.
|Job Location:||Al Kuwait, Kuwait|