REGULATORY RISK & COMPLIANCE OFFICER
This role will report to MFS Chief Compliance Officer (CCO) and responsible for ensuring the business is compliant with all Anti-Money Laundering /Combating Financing of Terrorism and Fraud Prevention in your country (ies) of responsibility in the South Pacific (Tonga & Vanuatu). This will involve complying with the Company's Compliance strategy, define and communicate key controls and processes and coordinate with the CCO and the country business manager a plan and timeline to implement them.
Selected candidates will be also responsible for preparing and submitting suspicious activity reports in coordination with the CCO or anybody designated by him and preparing and submitting responses for Government requests and legal subpoenas and responsible for record keeping activities and coordinating training of all employees involved with financial services activities in your country (ies) of responsibility.
This role will be based in Tonga.
Risk and Compliance:
- Responsible for taking instructions and reporting to the CCO all matters regarding AML/CFT in line with Company's Policies and Procedures related to AML/CFT and ABC subject matters.
- Conducting periodic meetings in the operation to update the CCO about any change in the regulations or new guidance issued by the Company related to AML/CFT and ABC subject matters;
- Safekeeping of all transaction documents related to AML/CFT for a period of minimum five (5) years after the termination of the customer transaction, and make these documents available whenever required by any competent authority, or for audit;
- Applying, verifying and authorizing all KYC procedures executed in regard to the registration and maintenance of customers, and ensure all Partner Bank(s) requirements and local regulations are followed;
- Performing Enhanced Due Diligence(EDD) and risk assessment for transactions considered unusual or suspicious or when dealing with "high-risk customers," or whenever this transaction is considered to be of high risk;
- Identifying any unusual or suspicious transactions or customer behavior and report them immediately to the CCO for further evaluation;
- Perform risk-based analysis and evaluations of compliance-related matters referred to the Company in keeping with approved group processes and regulatory guidelines;
- Implement a process to classify clients into low/medium/high-risk clients and to investigate clients based on risk;
- Help coordinating a periodic independent review to verify the effectiveness of the Compliance Program as directed by the CCO;
- Work with CCOs as required to create appropriate reports to execute the Compliance Program properly and comply with reporting obligations.
- Responsible for timely preparation of transaction analysis and reports on a daily, weekly, monthly, quarterly and annual basis for control and government reporting purposes;
- Responsible for statutory reporting requirements in a timely and accurate manner;
- Analyzes and projects tendencies, trends and patterns in the transactions to understand the need to develop additional controls to mitigate any form of risk associated with money laundering and fraud;
- Responsible for helping the CCO in the preparation of the Compliance annual budgets, quarterly, monthly and weekly forecasts and monitoring performance against the Compliance budget/forecast;
- Responsible for cost planning and the implementation of cost reduction plans;
- Ensures all internal controls are implemented within the MFS area and all new projects are compliant with control requirements;
- Ensures access to the Transaction Monitoring tool;
- Ensures account statuses and profiles for each category on platform meet the legal & regulatory rules;
- Works closely with the MFS Head of Technical Operations to ensure efficient, successful and risk-free integration requests;
- Ensures that periodical checks of platform rules are undertaken and results are documents.
ACADEMIC QUALIFICATIONS AND/OR EXPERIENCE REQUIRED FOR THIS ROLE:
- University degree in Accounting, Criminal Justice or Law Preferable;
- CAMS Certified or any other similar certification a plus;
- Masters level in Law, Criminal Justice, Forensic Accounting, Auditing, Big Data qualification a plus;
- Knowledge and understanding of relevant laws and regulations relating to the Money Service Business, Mobile Money and Banking is required;
- Knowledge of anti-money laundering regulations and guidelines in the South Pacific country including Tonga, Fiji, Samoa or Vanuatu is required;
- Two (2) years of experience in the compliance function in a Money Service Business, Financial Institution or Regulatory Entity.
Risk Management Expertise:
- Strong understanding of data analysis and trends analysis;
- Experience identifying and resolving risk issues in an operational setting, preferably finance related;
- Experience developing AML/CFT and Fraud Prevention compliance programs, risk strategy and implementation of risk mitigation systems.
Visit Digicel's Careers Page @ https://careers.digicelgroup.com/ to express your interest for this role, Requisition Number 1525 no later than 5pm Friday 15 January 2021. All applications must be attached with a cover letter, most recent resume, referee details and copies of required qualifications. Should you have any queries, please direct this to Raviksha Narayan via Pacificrecruit [at] digicelgroup [dot] com.
Applicants must apply online. Hard copy applications will not be accepted.
Digicel Tonga Limited is an Equal Opportunity Employer