Mlro and Compliance Officer

7 months ago


Manama, Bahrain Fakhro Insurance Services Full time

Job Responsibilities:

- To assist as a subordinate to the Executive Director and Board of Directors on compliance matters;
- Design, manage and administer the policy and procedures related to Anti
- Money Laundering Reporting and Compliance program of the Company;
- To monitor compliance efforts of the company. Manage, coordinate and conduct periodic reviews of compliance program, risk assessment, AML and CFT and ensure internal and external reporting;
- Perform periodic review and monitoring of customer KYC, high-risk customer accounts and ensure updated KYC and internal reporting.
- Monitor day to day operations, perform due diligence in order to ensure full compliance with policies and procedures.
- Act as main point of contact in respect of handling internal suspicious transaction reports from the staff and reporting suspicious transactions to the Anti-Money Laundering Unit and Compliance Directorate of the CBB.
- To initiate investigations in case the officer observes any non-compliance of procedures, laws and rules
- Provide suggestions and guidance on compliance related matters to the senior management and the Board
- To ensure that the Company complies with all applicable laws and regulation including, the AML Law and any other applicable AML/CFT legislation and regulations;
- 1Act as main contact for all the communications and reporting to the regulatory authorities including, the Financial Intelligence Unit, the CBB, Anti-Money Laundering Unit, Compliance Directorate and other concerned bodies.
- Establish and maintain adequate arrangements for staff awareness and training on AML/CFT matters;
- Maintain all necessary records of compliance and AML/CFT reviews, monitoring and reports, internal and external, for the required period.

Job Requirements:

- Bachelor's Degree in Law, accounting & Finance or equivalent
- Minimum of 3 to 5 years of relevant industry experience, including 1 to 3 years within a regulated Financial/Non-Financial firm.
- Advanced problem-solving skill is required along with critical thinking and adaptability
- Excellent Communication skill is essential and the capacity to convey complex ideas.
- Preferably approved by CBB
- ACAMS, ICA, CIS certification is a plus

**Experience**:

- MLRO/Compliance: 2 years (required)

**Language**:

- Arabic (required)



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