FAQs
What are the primary responsibilities of the Compliance & Risk Manager?
The primary responsibilities include establishing AML/CFT compliance programs, conducting monitoring for potential money laundering, managing regulatory inspections, providing training, overseeing KYC procedures, and delivering compliance management reports.
Who does the Compliance & Risk Manager report to?
The Compliance & Risk Manager directly reports to the Board of Directors and functionally to the Director of Compliance & Risk – MET.
What qualifications are required for this role?
A minimum of eight years of experience in AML/CFT compliance, audit, or risk management is required, or five years of relevant experience along with a specific certification related to AML/CFT compliance.
What kind of certification is acceptable for this role?
Acceptable certifications include ACFCS, CFE, ICA Diplomas, CAMS, or any other certification associated with financial crime control or AML/CFT compliance that is acceptable to the Central Bank.
Is there a specific focus on training within the compliance role?
Yes, the Compliance & Risk Manager is responsible for developing and executing AML/CFT training programs for management and employees.
What experience is preferred in the Compliance & Risk Manager role?
Experience in managing compliance systems, conducting risk assessments, and overseeing regulatory compliance in a financial institution is preferred.
How does the Compliance & Risk Manager ensure compliance with regulations?
The Compliance & Risk Manager ensures compliance by interpreting laws and regulations, developing policies and procedures, and conducting regular compliance monitoring and gap analysis.
What type of reporting is the Compliance & Risk Manager responsible for?
The Compliance & Risk Manager is responsible for delivering compliance management reports, board reports, and bi-annual compliance reports on all AML/CFT issues.
What skills are essential for the Compliance & Risk Manager position?
Essential skills include strong analytical and numerical ability, attention to detail, project management capability, and the ability to interpret and implement regulations.
How does the Compliance & Risk Manager interact with regulators?
The Compliance & Risk Manager manages regulatory inspections and communicates with the Central Bank and other competent authorities regarding all AML/CFT-related matters.