Job Objective:
Primarily responsible for supporting the implementation of the compliance program, ensuring that the company complies with regulatory requirements and internal procedures.
Job Specifications:
- Monitors performance of the AML/CFT program and related activities continuously, taking appropriate steps to improve its effectiveness.
- Maintain knowledge and updates of industry standards and international regulatory requirements, and highlight to management any concerns of non-compliance or improvements that can be made to existing controls and procedures.
- Monitor and interpret applicable laws and regulations to ensure organizational compliance.
- Assist in the development and implementation of policies and procedures.
- Identify and assess compliance risks, recommending measures to mitigate identified vulnerabilities.
- Help conduct internal compliance testing & assessment and prepare comprehensive reports on compliance activities, findings, and recommendations.
- Identify potentially fraudulent activities, investigate incidents, and report findings to management.
- Analyze compliance-related data, including system alerts, disputes, and fraud reports, to identify trends.
- Work with various departments to ensure compliance initiatives are effectively integrated into business processes.
- Manage compliance incidents, document findings, and coordinate corrective actions as needed.
- Propose enhancements to compliance processes and systems to improve overall effectiveness and efficiency.
- Update and maintain the company’s risk register by logging updates on STC Pay KRI. Follow up on closing mitigation plans. Ensure all risk information is current and correctly documented.
- Monitor risks that have been categorized. Keep track of their status and update the risk register as necessary.
Qualification & Experience
- A bachelor’s degree is preferably in banking/finance/business or a related field.
- Compliance and AML certifications; CAMS preferred.
- 3-5 years’ experience in compliance, financial crime, audit, and/or other related areas in the financial services industry
- In-depth knowledge of the functioning of an ancillary service provider—in particular, Payment Service Provider and Card Processing Activities
- In-depth knowledge of regulatory compliance requirements and risk management principles
