Chief Compliance Officer & MLRO

Chief Compliance Officer will work closely with external stakeholders and the internal compliance team, and directly report to the Chief Executive Officer.

The responsibilities of the position require to,

• To review and update relevant AML / CFT / KYC policy including but not limited to Compliance manual, Sub-agent oversight framework, TMS SOP’s and constantly monitor compliance procedures implementation  Companywide regularly
• Monitor internal controls and processes using a compliance Management system to ensure that  the company complies with all legal regulations and ethical standards.
• To provide expert guidance to front line associates on appropriate remedial action for high-risk transactions.
• To regularly evaluate CDD/EDD procedures in  light of the new requirements of Company’s AML/CFT Policy
• Disseminating updates/SBP Circulars timely to the compliance team and to all stakeholders of the company for timely enforcement and keep continuous supervision after its implementation
• To develop internal controls within the company immediately after the issuance of the new regulations by the SBP
• To ensure the  timely submission of daily,weekly,monthly,quarterly and annual data requirements of the regulators
• Directly contact the Regulators regarding any issue faced by the Company and keep tracking the progress of submitted issues and find solutions with mutual understanding.
• To submit new applications to SBP regarding Company’s network expansion i.e. opening of a new branch
• To lead and represent company on Money transfer operator i.e. (WU,MG,RIA)  related compliance reviews, and ensure the implementation of new guidelines of the MTOs.
• To assist in SBP inspections in liaison with audit/ operations teams
• To lead the trainings of the all branches including (RM.ARM,HOC.FLAs) on regular basis.
• Keep abreast all relevant circulars & updates on Exchange policies & Compliance Manual as well as regulatory guidelines, maintain proper checks on transactions at hand w.r.t KYC & AML aspect & ensure customer servicing is under-taken in conformity of the guidelines.
•  Approve record movement of the branches as requested by the record Room manager and monitor if it is managed efficiently..Instruct record room manager to keep and maintain alla electronic files/data’s a in Cloud & timely copies are made along with all the logs related to file are organized in a professional manner
• Managing and creating a super-efficient team from available resources and ensuring new hiring in order to maximize the productivity of himself and his team
• Representing a company on official correspondence (Emails & Letters) by Law enforcement Agencies (LEAs) or Regulatory Bodies (only if the Company requests).
• Staying up-to-date with applicable regulatory requirements as per Exchange regulations.
• To conduct Offsite Monitoring & Surveillance.
• Keep himself and his team up to date on all changes regarding updates of  SBP circulars, other regulatory rules & regulations of (FBR, SECP, and BANKS) including local market, international news and company policies related to Exchange Company Sector.
• Submission of Quarterly Offsite Transaction Monitoring Reports to the Chief Executive Officer.
• Respond to all queries on Asana and on email with in the prescribed time  and distribute work among his team based on their ability in order to complete assigned tasks
• To report  the investigation / findings, of  Internal Compliance for necessary actions before the Board of Directors and ensure the dissemination of reports to the respective locations/departments ( if required)
• Coordinate with relevant external bodies and regulators on compliance matters; exercise any specific legal responsibilities such as  reporting of suspicious transactions related  to money laundering and terrorism financing to the FMU or providing required data / information to the law enforcement agencies / the regulator
• Report violations or non- compliance of regulatory standards to duly authorized enforcement agencies as required
• Investigate and assess alerts for potential money laundering risks in the company.
• Discuss emerging compliance issues with the Board of Directors as and when needed
• Develop close working relationships with Departmental Managers and assists in special projects as needed
• Report to the CEO at required intervals on external compliance assignments including planned reviews, investigations, and any other ad-hoc activity as required.