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Chief Compliance Officer

Organisation
The Bank of Nevis Limited
Reference
VAC-33832
Contract Type
Full-Time
Industries
Accounting & Finance, Banking & Financial Services
Location
Nevis
Salary
Competitive Salary
Date Posted
11/03/2020
Expiry Date
31/03/2020
The Bank of Nevis Limited invites applications from suitably qualified persons to fill the position of Chief Compliance Officer.
 

The Bank of Nevis Ltd was incorporated on August 29th, 1985 under the laws of the Federation of St. Christopher and Nevis and opened its doors for business to the public on December 9th, 1985. It was created out of a desire to provide banking services to the local community with the hope that this would assist with the development of the island’s economy. It is for this reason that the Bank adopted the motto ‘Improving the Quality of Life’.  We offer comprehensive services including a variety of deposit accounts with attractive rates of interest, credit and debit cards and loans. Other services include ATM services, online banking, brokerage services, merchant services and foreign exchange purchases and sales. 

 

JOB DESCRIPTION SUMMARY
体育竞彩网 The Chief Compliance Officer is responsible for developing, implementing and administering all aspects of the Bank's Compliance Programme.  The objective is to ensure that the Bank establishes and maintains an effective, best practices compliance programme to prevent and detect violations of law, and to promote ethical conduct and a commitment to compliance with the Bank’s internal policies and the Law.  The Chief Compliance Officer shall ensure implementation of the programme as directed by the Audit Committee.  The programme will also consist of appropriate information and reporting systems so that the board and senior management may exercise timely and informed judgments concerning the Bank’s compliance with Anti-Money Laundering Laws and Regulations and other relevant financial services legislation including the Banking Act.  The Chief Compliance Officer will oversee the Bank’s Compliance Programme, and function in an independent and objective manner to review and evaluate the relative issues/concerns within the Bank.  This individual should be able to work independently under general direction with extensive latitude for initiative and judgment.

 

Duties include but are not limited to: -

  • Ensures that the Board of Directors, Management and employees are in compliance with the rules and regulations of the local regulatory and international agencies (ECCB, FSRC, FIU, FATF, CFATF) and that behavior in the organization meets the company’s Standards of Conduct.
  • Develop and administers the compliance monitoring plan to include but not limited to monitoring of Funds transfers, Deposit Services, Loans Operations, Credit Card Operations, Domestic and International Banking, KYC
  • Report on compliance matters to the General Manager of the Bank and to the Audit Committee of the Board of Directors and to the full Board of Directors.
  • Ensure coordination with other departments including the Legal Department, Internal Audit, Operations Department, Human Resources and Information Technology to ensure the development and implementation of the Compliance Programme.
  • Coordinate with other departments involved with external reporting functions to ensure that the Bank is compliant with the reporting of its Prudential Returns to ECCB and reports to the local competent authority on FATCA.
  • Investigate suspicious activity and report such activity to FIU where necessary.
  • Act as liaison between the Bank’s Regulators and auditors in matters relating to compliance to follow up on findings.
  • Ensure that an effective system exists for communicating the compliance standards and guidelines, including training and other communications media to employees and Directors and work with the Human Resource Manager to develop an effective compliance training program, including appropriate introductory training for new employees.
  • Ensure that each compliance risk area is identified and appropriately addressed and ensure an assessment occurs periodically.
  • Ensure that appropriate records for the Compliance Department are generated and maintained.
  • Coach, mentor and supervise the Compliance team and execute performance appraisals within stipulated periods.
  • Conduct screening of and maintain current OFAC and other Sanctioned Lists and disseminate updated information to staff periodically.
  • Assist with analysis of the Bank’s Exemption Lists.
  • Develop a Compliance Work plan annually.
  • Represent the Compliance Unit at Committee meetings.

 

QUALIFICATIONS AND EXPERIENCE REQUIRED

  • At least seven (7) years relevant experience in Banking
  • A first degree in Banking, finance, business management or Law;
  • ACAMS or other similar Certification in the field of Compliance
  • Anti-Money Laundering procedures and a broad understanding of the USA Patriot Act, Banking Act, OFAC Sanctions;
  • Masters Degree in Banking, Finance Business Management or Law would be an asset.

 

KNOWLEDGE, SKILLS AND EXPERIENCE REQUIRED

  • Good analytical skills
  • Knowledge of relevant national and international legislation and AML Laws
  • Good knowledge of regulatory and internal control requirements
  • Excellent written and oral communication skills
  • Good PC skills – proficiency in Microsoft Office and other appropriate applications
  • Highly disciplined and goal focused
  • Ability to work on own initiative
  • Self-motivated and the ability to manage difficult situations
  • Good interpersonal skills

 

Applications should be submitted no later than March 31st, 2020 

 

Please note that only those candidates selected for an interview will receive an acknowledgement.

 

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