Compliance Oversight Testing Officer

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 /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

• 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
• Excellent knowledge of Excel