Head AML/CFT/CPF Compliance (MLRO)

Company Description

Union Bank of Nigeria is a forward-thinking financial institution, committed to providing simplified and innovative banking services to customers across the country. At Union Bank, excellence and customer satisfaction are central to its mission, making it a trusted financial partner for businesses and individuals alike.

Job Summary  

To build a reliable and efficient reporting framework, ensure the integrity of all reports rendered to Regulatory Authorities. Develop processes for each reporting activity, create and sustain relationship with the relevant authorities, rendition of all returns before deadline, develop process on SWIFT Sanctions Screening platform; enforce AML/CFT/CPF and KYC internal Policies, Procedures and Processes as well as Regulations/Laws; Sensitize all staff on AML/CFT/CPF requirements.

The position is also responsible for ensuring that the Bank complies with all applicable laws, rules and regulations; mitigate potential financial crime and compliance risk; and facilitate the avoidance of regulatory penalties, fines and sanctions by enforcing compliance standards.

Grade Band: Senior Manager - Deputy General Manager

Duties & Responsibilities

• Compliance monitoring to ensure the Bank is not being used for the laundering of funds, financing of terrorist activities or proliferation;

• Identification of potential areas of compliance vulnerability and risk, develop / implement corrective action plans for resolution of issues;

• Periodic management information system reports on the bank’s level of compliance;

• Monitor emerging and external events to determine exposures and risk indicators using a risk based approach;

• Develop compliance frameworks for identification, assessment, monitoring, management and mitigation of financial crime and compliance risks;

• Ensure institutionalization of AML/CFT/CPF and Regulatory Compliance via independent review, evaluation and resolution.

• Promote a compliance culture among all staff and relevant stakeholders of the Bank’s compliance risk exposures and ways of preventing these from crystallizing through staff training and awareness programs

• Advisory services to the board, senior management and staff on compliance & corporate governance issues

• Develop and document processes and procedures for each reporting activity and continually update in line with Regulatory requirements and international best practice.

• Ensure integrity of all report before rendition to the relevant Authorities;

• Enforce AML/CFT and KYC internal Policies, Procedures and Processes as well as Regulations/Laws.

• Investigate names flagged on Sanction Screening Application, escalate and possible filing of STRs.

• Preservation of records of all returns rendered and suspicious transactions escalated.

• Provide sensitization materials on SWIFT Screening Application and use same to create awareness to Staff.

• Act as back-up to the Chief Compliance Officer.

Job Requirements Education:

• A first degree or its equivalent in any discipline.

• An additional qualification or master’s degree in any business-related discipline would be an advantage.

• Recognized professional certification e.g. CFA, CIS, ACCA, ACA, CFP, CFE, ACAMS, IT Certifications, etc.

Experience: A minimum of 15 years post qualification experience at managerial level in Risk/Control functions within the Financial Services Industry.  

Job Knowledge:

Good interpretation of MLPPA 2022 (as amended), Terrorism Prohibition and Prevention Act, 2022 (as amended), the CBN AML/CFT/CPF Regulations, 2022, EFCC (Establishment) Act, 2004 & International best practice documents Legal & Regulatory framework and environment

• Good knowledge and understanding of banking products, controls, operational processes /procedures (Domestic & International)

• Good understanding/interpretation of CBN Policies/Regulations

• Business Environment /Industry analysis

• Credit Analysis/Appraisal

• Accounting / Financial Analysis & Interpretation.

• Assets and Liability Management

• Business Strategy and Operational Risk Mgt 

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