Head of KYC Strategy
- Recruiter
- Qatar National Bank (QNB)
- Location
- Doha, Dawhah, Qatar
- Salary
- Competitive
- Posted
- 05 May 2018
- Closes
- 08 May 2018
- Ref
- 2947043
- Sector
- Legal
- Contract type
- Permanent
- Hours
- Full time
- Experience level
- Director
About QNB
QNB Group, the biggest bank in Qatar, and a leading financial institution in the Middle East and Africa, is looking to hire a Head of KYC Strategy, to meet the requirements of the expansion of its office in QNB - Qatar//Doha.
QNB Group's presence through its subsidiaries and associate companies now extends to more than 30 countries across 3 continents, providing a comprehensive range of products and services. The total number of staff is more than 28,000 operating from over 1200 locations.
Role Summary:
You will have primary responsibility for the KYC framework and ensure adequate processes and controls are implemented across the Group. You will manage the KYC platform, track and reflect the changes as issued by the relevant regulatory bodies which are applicable to AML/CFT including QCB instructions, Financial Action Task Force (FATF) and Wolfsburg group
Role Descriptions:
Assist the Financial Crime Compliance and Governance Team to satisfy the Global AML/CTF and KYC requirements of the Group by monitoring and conducting KYC reviews as per the Risk Based Approach in place for new and existing customers on timely basis to avoid any KYC failures that could lead to fines/ penal actions and the consequent loss of reputation.
Implement the framework for identifying the compliance weaknesses and deficiencies in terms of KYC at Group level as a result of the monitoring and testing initiatives, therefore preventing the Group from incurring financial losses and damage to its reputation.
Ensure that QNB KYC data requirements are in line with the regulators instructions, FATF recommendations and the international best practices.
Maintain and update KYC profiling of customers in line with the Global Standards and applicable local regulations
Act as a custodian of all the customers KYC data and the KYC platform
Liaise with the following on continuous basis to resolve their queries/ respond to issues raised by them relating to the Group's AML/ CTF & KYC efforts:
Initiate the follow up exercise with different business units for the completeness and update of the KYC data
Handle the correspondent banks enquiries and requests related to the KYC and AML questionnaires
Act as KYC data supplier for all AML, Sanctions and Fraud Control units to facilitate their day to day operations and investigations.
Maintaining the effectiveness of the Global KYC platform across the Group
Oversee the KYC activities with the aim of ensuring complete and proper implementation of QCB regulations and guidelines regarding KYC requirements, including pronouncements/ directives issued by the NAMLC and the FIU.
Implement the KYC related tasks of the annual plan approved by the Group Board Audit & Compliance Committee by performing periodic review of the KYC related activities conducted at the entities included within the plan. Ensure the effectiveness of the Global KYC platform and Risk Methodology.
Enhance the periodic Risk Based Approach mechanism based on the Local and Global KYC associated risk.
Monitor the dashboards of the KYC platform for proper follow up and reporting
Perform key Enhancement by conducting gap analysis (Group wide) and fine tuning in line with the overseas branches regulatory requirements.
Implement Strategy to diligently carry out the account review process and ensure accounts are compliant, especially on issues of money laundering, adverse media, sanctions, via the due diligence review and transaction monitoring processes; and to flag out and alert managers as and when suspicious activities are found.
Re-engineering for the customers on-boarding workflow to accommodate the KYC platform
Performing a sample Quality Control checks of KYC / AML documents in accordance with current procedures
Contribute to the implementation and controls for daily processes and update of procedures
Review of the KYC files for new clients and identification of main issues and follow up missing information in line with group processes and procedure
Participate in Implementing the Risk Based Approach of Overseas Branches and Subsidiaries based on their Geographic Location in 4 Categories Europe, Africa, Asia and Middle East.
Manage the KYC review conducted by the business units / branches for the daily and monthly reports with immediate reporting on non-compliance cases. Collaborate with internal Compliance teams (such as AML Compliance, Compliance Operations, Risk & Controls) to identify clear steps necessary to mitigate those regulatory risks and provide those recommendations in the form of clear business requirements
Work in partnership with Business Units, Operations, Technology, Legal, and the larger risk community to offer support and assistance in compliance-related matters to ensure an open, adequate and effective risk management culture and sound solutions
Liaise regularly with clients, compliance, other support functions including internally within the Global Client On-boarding team, due diligence Managers and local Business officers
Maintain an understanding of all pertinent laws, regulations, policies/ procedures and applicable best practices pertaining to the Group's operations/ activities locally and internationally in terms of AML/CFT and KYC.
Managerial and specialist practitioners fulfilling both general and specific functions that include analysis of complex data, review of compliance issues, specific compliance projects.
Managerial and specialist practitioner fulfilling both general and specific functions that include analysis of complex data, review of compliance issues, specific compliance projects.
Qualifications:
Bachelor degree with professional qualifications such as CAMS/CIA/CCO.
A minimum of 12 years experience in a major banking institution or regulatory agency out of which 8 years should be in a supervisory role relating to Compliance or Internal Audit
Strong knowledge of KYC strategy and implementation.
Note: you will be required to attach the following:
1. Resume / CV
QNB Group, the biggest bank in Qatar, and a leading financial institution in the Middle East and Africa, is looking to hire a Head of KYC Strategy, to meet the requirements of the expansion of its office in QNB - Qatar//Doha.
QNB Group's presence through its subsidiaries and associate companies now extends to more than 30 countries across 3 continents, providing a comprehensive range of products and services. The total number of staff is more than 28,000 operating from over 1200 locations.
Role Summary:
You will have primary responsibility for the KYC framework and ensure adequate processes and controls are implemented across the Group. You will manage the KYC platform, track and reflect the changes as issued by the relevant regulatory bodies which are applicable to AML/CFT including QCB instructions, Financial Action Task Force (FATF) and Wolfsburg group
Role Descriptions:
Assist the Financial Crime Compliance and Governance Team to satisfy the Global AML/CTF and KYC requirements of the Group by monitoring and conducting KYC reviews as per the Risk Based Approach in place for new and existing customers on timely basis to avoid any KYC failures that could lead to fines/ penal actions and the consequent loss of reputation.
Implement the framework for identifying the compliance weaknesses and deficiencies in terms of KYC at Group level as a result of the monitoring and testing initiatives, therefore preventing the Group from incurring financial losses and damage to its reputation.
Ensure that QNB KYC data requirements are in line with the regulators instructions, FATF recommendations and the international best practices.
Maintain and update KYC profiling of customers in line with the Global Standards and applicable local regulations
Act as a custodian of all the customers KYC data and the KYC platform
Liaise with the following on continuous basis to resolve their queries/ respond to issues raised by them relating to the Group's AML/ CTF & KYC efforts:
- Qatar Central Bank officials.
- Qatar Financial Market Authority Officials
- Qatar Financial Center Authorities
- Officials from other government bodies in Qatar like ministries and QE.
- National Anti Money Laundering Committee (NAMLC) and the Financial Information Unit (FIU) in Qatar.
- External Auditor
- Regulator of Overseas Branches and Subsidiaries as and when required.
Initiate the follow up exercise with different business units for the completeness and update of the KYC data
Handle the correspondent banks enquiries and requests related to the KYC and AML questionnaires
Act as KYC data supplier for all AML, Sanctions and Fraud Control units to facilitate their day to day operations and investigations.
Maintaining the effectiveness of the Global KYC platform across the Group
Oversee the KYC activities with the aim of ensuring complete and proper implementation of QCB regulations and guidelines regarding KYC requirements, including pronouncements/ directives issued by the NAMLC and the FIU.
Implement the KYC related tasks of the annual plan approved by the Group Board Audit & Compliance Committee by performing periodic review of the KYC related activities conducted at the entities included within the plan. Ensure the effectiveness of the Global KYC platform and Risk Methodology.
Enhance the periodic Risk Based Approach mechanism based on the Local and Global KYC associated risk.
Monitor the dashboards of the KYC platform for proper follow up and reporting
Perform key Enhancement by conducting gap analysis (Group wide) and fine tuning in line with the overseas branches regulatory requirements.
Implement Strategy to diligently carry out the account review process and ensure accounts are compliant, especially on issues of money laundering, adverse media, sanctions, via the due diligence review and transaction monitoring processes; and to flag out and alert managers as and when suspicious activities are found.
Re-engineering for the customers on-boarding workflow to accommodate the KYC platform
Performing a sample Quality Control checks of KYC / AML documents in accordance with current procedures
Contribute to the implementation and controls for daily processes and update of procedures
Review of the KYC files for new clients and identification of main issues and follow up missing information in line with group processes and procedure
Participate in Implementing the Risk Based Approach of Overseas Branches and Subsidiaries based on their Geographic Location in 4 Categories Europe, Africa, Asia and Middle East.
Manage the KYC review conducted by the business units / branches for the daily and monthly reports with immediate reporting on non-compliance cases. Collaborate with internal Compliance teams (such as AML Compliance, Compliance Operations, Risk & Controls) to identify clear steps necessary to mitigate those regulatory risks and provide those recommendations in the form of clear business requirements
Work in partnership with Business Units, Operations, Technology, Legal, and the larger risk community to offer support and assistance in compliance-related matters to ensure an open, adequate and effective risk management culture and sound solutions
Liaise regularly with clients, compliance, other support functions including internally within the Global Client On-boarding team, due diligence Managers and local Business officers
Maintain an understanding of all pertinent laws, regulations, policies/ procedures and applicable best practices pertaining to the Group's operations/ activities locally and internationally in terms of AML/CFT and KYC.
Managerial and specialist practitioners fulfilling both general and specific functions that include analysis of complex data, review of compliance issues, specific compliance projects.
Managerial and specialist practitioner fulfilling both general and specific functions that include analysis of complex data, review of compliance issues, specific compliance projects.
Qualifications:
Bachelor degree with professional qualifications such as CAMS/CIA/CCO.
A minimum of 12 years experience in a major banking institution or regulatory agency out of which 8 years should be in a supervisory role relating to Compliance or Internal Audit
Strong knowledge of KYC strategy and implementation.
Note: you will be required to attach the following:
1. Resume / CV