Compliance Officer

The Compliance Officer will have the responsibility for developing compliance programmes, reviewing company policies, and advising management and the Board of Directors on possible risks.

COMPLIANCE OFFICER

The Compliance Officer will have the responsibility for developing compliance programmes, reviewing company policies, and advising management and the Board of Directors on possible risks.  The incumbent in this position works independently, coordinating and monitoring TATECO’s Compliance Programme.  The incumbent in this position reports directly to the Secretary of the Board of Directors and administratively to the General Manager.

QUALIFICATIONS AND EXPERIENCE

• Bachelor’s Degree in Business Management or any related field.
• ACAMS Certification.
• At least three (3) years working experience in a similar capacity.
• Knowledge of the Credit Union’s Bye Laws, Co-operative Societies Act and all AML/CFT laws and regulations.
• Strong analytical skills.
• Solid organizational and time-management skills.
• High level of integrity and ability to treat with confidential information with discretion.
• Excellent oral, report writing and communication skills.
• Strong database management skills.
• Proficient in Microsoft Office Suite of Applications

MAIN DUTIES AND RESPONSIBLITIES

• Plans and manages all the Credit Union’s Compliance audits, including Source of Funds in accordance with relevant regulations and legislations.
• Develops, implements, maintains and reviews policies and procedures for the general operation of the Credit Union’s     Compliance Programme and its related activities to enforce ethical and strict compliance.
• Prepares Monthly Compliance Reports for submission to the Board of Directors.
• Required to advise the board and management of areas of non-compliance and make recommendations for remedial action in respect of same.
• Collaborates and directs internal departments on compliance issues.
• Represents the Credit Union in all AML/CFT matters.
• Functions as the chief liaison between the Credit Union and the FIU and keeps staff and officers updated with new information from the FIU.  
• Receive and review reports of suspicious transactions, or suspicious activities (STRs/SARs) made by the staff and report the same to the FIU in accordance with the FIU Act and guidelines issued by the relevant Supervisory Authority.
• Conduct/ facilitate/ coordinate AML/CFT training for staff, Directors and Officers and maintain a record of all training materials, facilitators and attendance.
• Ensures compliance and maintains compliance records of the following activities in accordance with FIU Regulations and ASCU Compliance Programme such as Customer Due Diligence (CDD), Know Your Customer (KYC), Retrospective Due Diligence (RDD), Enhanced Due Diligence (EDD) and Source of Funds Register.
• Monitor and maintain an updated Fixed Deposit Certificate Register.
• Attends training programmes, seminars and workshops as required by the Credit Union.
• Timely communication and response to all queries and other matters from Regulatory Bodies.
• Periodic review of all securities held by the Credit Union to determine breach or compromise with terrorist financing.
• Tracks compliance breaches and takes corrective actions to minimize risk exposure.
• Monitors and advises on any proposed and actual changes to the laws and regulations impacting the Credit Union.
• Identify and maintain a register of Politically Exposed Persons (PEPs).
• Use relevant software/search engine to identify persons on FBI and other watch lists.
• Reports to the Board all compliance issues.