Compliance Oversight Testing Officer

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 to recruit a Compliance Oversight Testing Officer in the Group Compliance Department based in our Head Office, in Bahrain. The job holder will be responsible for executing Group Compliance Oversight Testing Plan by leading and managing oversight test reviews as well as acting as a subject matter expert for Group testing. The reviews are to assess the effectiveness of existing process controls and validate compliance with AML and regulatory requirements.

Responsibilities of the role

The job holder will be responsible to:

• 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

Areas of knowledge, qualification and experience

• 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. Experience in overseeing projects across multiple jurisdictions
• 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