Posted by : Maxwell Baulf
Headhunter - Executive Search at Westbourne Partners
Position : Specialist Domestic Business Regulatory Compliance
Entity : Domestic Compliance - Group Compliance
Location : Doha, Qatar
About us : We are the largest Financial Services firm in the MENA region with international offices across Africa, Asia, Europe and Middle East.
Job Summary :
The incumbent will be responsible for conducting the compliance function for the domestic Banking Activities of all business units operating in the State of Qatar on a pro-active basis.
All efforts should be made to identify and assess the compliance risks associated with domestic banking activities of all Business divisions in light of applicable regulations of QCB and any other applicable statutory requirements, Group policies / procedures and industry standards and best practices.
Identify and assess the Regulatory Compliance risk involved in the banking activities of Business divisions conducted by the Group in the state of Qatar and thereby reduce the risk of regulatory sanctions, which could result in financial losses / penal actions and the associated damage of reputation.
Essential Duties & Responsibilities by Dimensions :
Assist the Head of Domestic Business Regulatory Compliance in performing tasks / activities as per the Group’s annual compliance plan for the domestic banking activities of Business divisions to provide assurance to the Group Audit & Compliance Committee, the Board and Executive Management on the adequacy and effectiveness of the policies, procedures systems and controls in place to ensure compliance with the relevant laws / regulations impacting the domestic banking activities of Group’s divisions.
Provide timely feedback and support to the Head of Domestic Business Regulatory Compliance, Chief Domestic Compliance or the Group Chief Compliance Officer on ad hoc matters, short or mid-
terms projects to achieve the Group Compliance objectives as and when directed.
Manage, guide and instruct all direct report staff to ensure meeting individual and departmental objectives and monitor their compliance with internal policies, rules and code of ethics and conduct.
Provide all the necessary support to all business divisions to achieve their business objectives related to their domestic banking activities in line with the regulatory requirements as and when required.
Assist in measuring and reporting, from time to time, Business divisions satisfaction level and their feedback on Group Compliance support provided to business and drive initiative / recommendations to improve the quality of the compliance services.
Provide information / inputs with regards to the domestic banking activities of Group’s Business Divisions to the Head of Domestic Business Regulatory Compliance and to the Chief Domestic Compliance in the former’s absence to resolve the related queries / issues raised by the regulatory authorities including but not limited to the Qatar Central Bank and Other government bodies in Qatar like Ministries and General Authorities.
Preparation of regulatory reports mandated as per the regulatory requirements related to the domestic banking activities of Group’s Business Divisions to the Chief Domestic Compliance for review and submission to the Group Chief Compliance Officer.
On quarterly basis, collect / provide input data and information of the activities performed be Group Compliance related to all Business divisions each quarter to the Head of Domestic Business Regulatory Compliance in order to construct Management reports of the Group Chief Compliance Officer to the Group Audit and Compliance Committee and Executive Management.
Build up and strengthen the compliance relationship with all domestic business divisions that conducts banking activities including but not limited to Group Corporate and Institution Banking, SMEs, Group Retail, Private Banking, Group Treasury, etc.
Conduct comprehensive compliance risk assessment for all domestic banking activities of Business divisions and submit the results to the Head of Domestic Business Regulatory Compliance for review and escalation.
Conduct onsite and / or off site compliance review as per the approved Group compliance annual plan on Business divisions conducting banking activities on target dates as assigned form time to time and provide reasonable justifications for the reasons of any delay / rescheduling as appropriate.
Structure the review objectives, scope and outcome; the compliance review should : eensure appropriate adherence of business divisions conducting banking activities to applicable regulatory requirements pertaining to their business activities and identify any non-
compliance issues with the applicable regulations on the domestic banking activities of Business divisions, along with the corrective actions suggested and effectively action plan to be undertaken.
Initiate review observations / comments, the impact and recommendations to mitigate noncompliance of business units with respect to domestic banking activities to assist business divisions in achieving their business objectives and goals in harmony with regulatory requirements, with emphasis on issues that need resolution.
Perform appropriate follow up if the implementation of new regulatory requirements related to all banking activities and coordinate with owners to ensure compliance with new laws and regulations or changes to the existing ones.
Identify gaps and / or improvement to the compliance monitoring program related to the domestic banking activities of business divisions in light of regulatory changes and applicable best practices.
Participate in promoting employees awareness of compliance issues related to Business divisions conducting banking activities by providing inputs and updates to the brochures, flyers, guides with aim to promote an effective compliance culture and encourages managers and staff to be aware of the benefits of ethical conduct and compliance.
Participate in the development of training materials / programs with focus on the domestic compliance issues such as but not limited to Code of Ethics, the concept of Chinese Walls and Whistle Blowing to prevent insider trading, fraud in addition to fostering the concept of need to know to manage Conflict of Interest .
Assist in updating the Group Compliance policy manual / charter in light of changes in regulatory requirements affecting the domestic banking activities of Group’s business divisions, by provision of relevant inputs to the incumbent’s superiors.
Provide inputs to the incumbent’s superiors to effectively facilitate the implementation of new systems to enhance / augment the Group’s compliance efforts in regards to the domestic banking activities of Business divisions.
Support the Specialist AWM & Local Subsidiaries Regulatory Compliance and his team and act as a backup in his absence as and when required.
Participate in special assignments, projects and investigations as and when required.
Assist business divisions that conduct banking activities to build robust relationship with relevant domestic regulatory authorities with aim to understand their concerns and influence the regulators to streamline regulatory objectives with business needs.
Assist and guide business divisions that conduct banking activities to obtain domestic regulatory approvals and license where need and review communication / response on inquiries of related to business issues.
Collect and prepare required data and information required by regulator during their inspection (onsite / offsite) of the business divisions with respect to their domestic banking activities as per the guidance and instructions of the Head of Domestic Business Regulatory Compliance and / or the Chief Domestic Compliance.
Initiate and submit draft reports to Head of Domestic Business Regulatory Compliance on the advices provided to Business divisions as well as reviewed policies procedures, circulars, products, services and any other documents related to the domestic banking activities of Business divisions.
Initiate and submit draft reports to Head of Domestic Business Regulatory Compliance on the efforts exerted to support business divisions to achieve their business objectives including but not limited to Group Retail, Corporate Banking & FI, Private Banking, Treasury, etc.
highlighting any difficulties, violations and / or failure to comply with the regulatory requirements related to the domestic banking activities of Business divisions.
Assist the Head of Domestic Business Regulatory Compliance in managing the affairs of the Domestic Business Regulatory Compliance function.
Supervise and manage Compliance Reviews including the planning phase, the fieldwork review, and the draft and final reporting.
Education / Experience Requirements :
Bachelor degree with professional qualifications such as CPA / CIA / CCO.
A minimum of 10 years’ experience in a major banking institution or regulatory agency out of which 5 years should be in a supervisory role relating to Compliance or Internal Audit.
Sound interpretation ability of the banking and financial services laws and regulations
Ability to analyze the impact of changes in the relevant regulations on the Group’s compliance risk profile for domestic banking activities of Business divisions & Subsidiaries.
Good judgments and criticism abilities with abilities to drive solutions that serve the domestic business divisions’ needs.
Ability to identify and render advice on compliance related issues pertaining to the Group’s domestic banking activities of Business divisions.
FinanceAccounting / Auditing
BankingInvestment BankingFinancial Services