LEGAL AND COMPLIANCE OFFICER – Wiremit 211 views

Duties And Responsibilities

AML and CFT Expertise
Monitoring and Evaluating Compliance: Oversee compliance with AML regulations and laws within the jurisdiction of operation.
Risk Assessment Framework: Develop, document, and maintain a comprehensive risk assessment framework to support AML objectives.
Comprehensive Compliance Policy: Create, revise, and maintain a robust compliance
policy aligned with AML goals.
Customer Due Diligence (CDD): Oversee CDD and risk profiling procedures across all organizational activities.

KYC Proficiency:
Customer Onboarding: Assess and onboard customers, including high-risk clients.
Ongoing Monitoring: Continuously monitor customer accounts to ensure compliance with KYC requirements.
Enhanced Due Diligence (EDD): Implement EDD measures for high-risk clients.
Regulatory Knowledge: Stay abreast of evolving AML, CFT, and KYC regulations.
Interpret and apply regulatory changes to the organization’s compliance framework.
Articulate and ensure regulatory reporting adherence.

Collaboration and Reporting:
Management Body Interaction:Collaborate with the management body to ensure effective AML/CFT strategies.
Reporting: Regularly report to the management body on compliance matters.
Develop and implement compliance model required for a bank to operate within acceptable standards.
Liaise with senior managers to ensure proper implementation of established compliance policies.
Review internal policies to ensure they align with external banking regulations. Conduct research to identify new regulations passed by the government and other governing bodies.
Develop systems for the handling and resolution of policy violation.