Branch Compliance Officer at Stanbic IBTC

Job ID: 33690
Locations: Benue/Kogi
Job Sector: Compliance

Job Purpose

• Ensuring compliance with the relevant Anti-Money Laundering and Combating the Financing of Terrorist (AML/CFT) and related activities legislations.
• Monitoring transactions of customers to determine whether the transactions are in line with the customers’ profile.
• Monitoring of sanctions and Politically Exposed Persons (PEP) alerts
• Investigation of suspicious and unusual transactions.
• Review and escalation of Suspicious transaction reports through Head AML/CFT to the Chief Compliance Officer.
• Keep abreast of current AML/CFT issues.
• Providing advisory support to the branches on know Your Customer (KYC) issues/enquiries. 
• Providing timely responses to all request received from regulators/law enforcement agencies relating to KYC/AML/CFT issues.
• Preparing monthly compliance report highlighting the compliance issues in the branches under their purview.
• Tracking and resolving all KYC/AML/CFT issues identified in both external and internal examinations/inspections within agreed timelines.
• Providing relevant update to the Head AML/CFT on all KYC/AML/CFT issues.
• Ensuring that members of staff are trained on KYC/AML/CFT issues.
• Ensuring all accounts opened in the branches are KYC compliant.
• Monitoring adherence with compliance related policies.
• Conduct monitoring exercises on compliance issues in the branches.
• Monitor effectively the level of compliance with policies such as Gift and Entertainment Policy, Outside Business Interest (OBI) Policy.
• Effective monitoring of legislations and regulations applicable to the branches. Assist and advice on the process of identifying and monitoring PEPs and other targeted high-risk persons and entities.

Key Responsibilities/Accountabilities
Key Responsibilities:

• Responsible for face to face AML/CFT training.
• Review of KYC of accounts opened in the branches
• Provide assistance on compliance issues arising out of fulfilling AML/CFT obligations.
• Keep abreast with the Stanbic IBTC/Standard Bank AML operations, standards and controls.
• Creation of awareness to members of staff on how to identify suspicious money laundering or terrorist financing activity and further assist in the reporting or investigation of suspicious and unusual transactions when required.
• Providing advice, support and guidance to branches on AML/CFT matters.
• Assist in providing AML/ CFT support to Operational areas to ensure effective implementation of controls and processes.
• Escalation of material issues to the Head, AML/CFT.
• Ensure proper record keeping of KYC documents at the branches
• Ensure that Senior Management’s approvals are in place for all high risk customers.

Key Performance Measures:

• Frequency of training in line with the training calendar.
• Timely resolution of AML/CFT enquiries and escalation of issues where necessary. 
• 100% KYC compliance status for newly opened accounts.
• Periodic awareness creation on money laundering or terrorist financing activity.
• Timely rendition of monthly reports to the Head AML/CFT.
• Zero tolerance to fines and penalties on AML/CFT related issues from the branches overseen.
• Satisfactory AML/CFT audit of the branches overseen.

Internal Relationships:

• Build relationships & provide AML/CFT guidance to the wider business team.
• Develop relationships with key business, operational, internal audit & IT staff within the various businesses.

Preferred Qualifications and Experience

• B.Sc (or any other degree qualification) with 2 to 3 years of experience
• Solid understanding of the nature of the business and products in the banking environment.
• Ability to take the understanding of business needs and operations and to translate it into risk management solutions.
• Keep abreast of international developments and best practice relating to AML/CFT.
• Ongoing awareness of AML/CFT activities and developments.
• Ability to give technically sound advice.
• Good knowledge of the banking environment, systems and procedures.
• Good and extensive working knowledge of applicable money laundering and terrorist financing legislation and controls in the Nigerian environment.
• Good understanding of the regulatory requirements in the international environment.

Knowledge/Technical Skills/Expertise

• Thinking, problem solving, innovation.
• Analytical skills.
• Decision making.
• Generates focused practical solutions.
• Demonstrates sound judgement.
• Working under pressure and meeting targets.
• Technical proficiency
• Microsoft Office.