The Compliance Officer is authorized to implement all necessary actions to ensure achievement of the objectives of an effective compliance program. The AML Specialist is responsible to ensure efficient identification and monitoring of suspicious activities and transaction in Trust Capital and ensure timeous reporting of suspicious transactions to the Financial Intelligence Unit at the Central Bank of Lebanon (Special Investigation Commission). It is further required to analyze information received from Correspondent Banks and counterparties and to address AML and economic sanctions related alerts.
Main Job Tasks and Responsibilities
Develops, initiates, maintains, and revises policies and procedures for the general operation of the Compliance Program and its related activities to prevent illegal, unethical, or improper conduct. Manages day-to-day operation of the Program
Registration & compliance onboarding of new clients – including background check & filing of necessary regulatory forms.
Investigate and assess alerts for potential money laundering risks in the company.
Ensure efficient identification and monitoring of suspicious activities and transactions
Obtain documentary proof of suspicious transactions and ensure timely and effective record keeping of suspicious transaction identified and reported to the Financial Intelligence Unit at the Central Bank of Lebanon (SIC).
Daily assessment of AML and SWIFT reports for potential suspicious activity.
Develops and periodically reviews and updates Standards of Conduct and relevance in providing guidance to management and employees.
Maintain a current understanding of money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends.
Acts as an independent review and evaluation body to ensure that compliance issues/concerns within the organization are being appropriately evaluated, investigated and resolved.
Ensure that all operations of the firm are conducted in compliance with applicable regulations.
Provides reports on a regular basis
Oversee regulatory exams.
Works with the Human Resources Department and others as appropriate to develop an effective compliance training program, including appropriate introductory training for new employees as well as ongoing training for all employees and managers.
Advise management on current issues regarding correspondent banking and counterparties.
Research and respond to investigations and complaints and economic sanction related alerts.
Education and Experience
A Bachelor’s degree required; Master’s desired.
Strong analytical skills required to organize and analyze multiple, complex data sets as well as strong interpersonal and organizational skills.
Strong technical skills.
Computer literacy essential (Word, Excel).
General understanding of market place AML issues and AML suspicious activity transaction monitoring systems, data mining/analytical tools, and KYC automated solutions is helpful.
Strong ability to quickly grasp and understand business unit specific AML risks, develops comprehensive user requirements, and provides recommendations for appropriate automated solutions to mitigate those risks.
A minimum of 3 years’ experience in a financial institution, to include demonstrated leadership. Familiarity with operational, financial, quality assurance, and human resource procedures and regulations is a must.
Certification in a professional association such as the Association of Certified Anti-Money Laundering Specialists (ACAMS) would be a distinct advantage.