AML & Regulatory Oversight Testing Lead

Advanced Search; Manama; On-site; BHD 18,000 - 28,000; Full time

Job summary

Bank ABC seeks a Compliance Oversight Testing Officer to execute the Group Compliance Oversight Testing Plan and lead oversight test reviews, acting as a subject matter expert for Group testing. The role ensures effectiveness of controls and compliance with AML and regulatory requirements.

The ideal candidate has 3-4 years in financial services focused on monitoring and testing, with a bachelor’s degree and AML regulatory knowledge.

Qualifications

• 3-4 years of experience in the financial services industry with a focus on monitoring and testing, preferably with a background in operational risk and/or internal audit.
• Minimum bachelor's degree (ACAMS, ICA and CIA is a plus).
• AML and regulatory compliance work experience.
• Knowledge of AML/CFT Bahrain laws and regulations.
• Knowledge of AML/CFT international laws, regulations and international best practices.
• Demonstrated knowledge of AML investigation practices, risk management and compliance.

Responsibilities

• Conduct oversight testing of key AML and regulatory compliance functions.
• Maintain schedule of testing activities and communication plan with stakeholders.
• Liaise with key stakeholders to validate test results.
• Ensure formal reporting on all oversight testing is conducted.
• Review results and provide guidance to stakeholders on Group standards and best practices.
• Follow up on issues in a timely manner and ensure they are tracked and reported at the appropriate level of seniority.
• Conduct and maintain trend analysis on results of compliance testing for internal reports.
• Provide subject matter expertise to Group MLROs on oversight testing.
• Validate business unit test results to ensure testing is conducted in line with Group oversight testing methodology.
• Prepare compliance testing reports where applicable and present findings to senior management.
• Enhance relationship with stakeholders (both internal and external).
• Keep abreast with local AML and regulatory legislation and with international trends and regulations.
• Keep abreast with AML regulatory activities and industry developments to identify trends and emerging issues.
• Assist in the development and revision of the annual compliance testing plan as appropriate.
• Review and follow up of business unit testing schedules.
• Assist the Risk Assessment Team in validating the Unit risk ratings, where applicable.
• Work collaboratively with Operational Risk and Internal Audit to reduce any overlap in testing, where applicable.
• Maintain an understanding of business operations.
• Assist with ad-hoc compliance projects.
• Lead or assist in investigating compliance issues such as regulatory or policy breaches, as needed.
• Perform other duties as assigned by management

Skills

AML regulatory knowledge

Operational risk experience

Internal audit exposure

Testing/monitoring experience

Education

Bachelor's degree

ACAMS

ICA

CIA

Job description

Bank ABC seeks a Compliance Oversight Testing Officer to execute the Group Compliance Oversight Testing Plan and lead oversight test reviews, acting as a subject matter expert for Group testing. The role ensures effectiveness of controls and compliance with AML and regulatory requirements.

The ideal candidate has 3-4 years in financial services focused on monitoring and testing, with a bachelor’s degree and AML regulatory knowledge.