Summary
Date Posted: Thursday, August 17 2023, Base Salary: Not Disclosed

JOB DETAILS:
Job Purpose
To oversee the implementation of the Bank’s Record’s Management and KYC Strategy to ensure that the Bank Complies to all regulatory obligations with regard to KYC and records management are adhered to.

Job Responsibilities
• Design and implement comprehensive records management policies and procedures to effectively manage the organization’s records throughout their lifecycle, from creation to disposal, ensuring compliance with applicable laws and regulations.
• Establish and maintain a systematic and well-organized records management system for physical and electronic records, ensuring easy retrieval and accurate tracking of documents.
• Categorize and index records based on predefined criteria to facilitate efficient storage and retrieval, and to ensure records are appropriately secured and accessible to authorized personnel.
• Stay updated on relevant records management regulations, data protection laws, and industry best practices. Ensure that the organization’s records management practices are in line with legal requirements and internal policies.
• Determine appropriate retention periods for different types of records and oversee the secure and timely disposal of records that have met their retention requirements.
• Liaise with Business Units to identify Critical records and ensure they are maintained as such.
• Manage electronic document management systems, ensuring proper access controls, version control, and document security. Troubleshoot issues related to the system and collaborate with IT teams for improvements.
• Conduct periodic audits to assess the effectiveness and compliance of records management processes. Address any identified issues and recommend improvements.
• Work closely with various departments to understand their record-keeping needs and provide assistance and guidance in organizing, managing, and archiving their records.
• Develop and implement disaster recovery plans for records to ensure business continuity in the event of a data loss or system failure.
• Perform in-depth customer due diligence checks on new and existing clients according to established policies and regulatory guidelines to verify their identities and assess potential risks.
• Review and validate all necessary customer documentation, including identification, financial statements, and other relevant data to ensure accuracy and completeness.
• Provide guidance bank wide on applicable legal and regulatory requirements for records retention ?
• Evaluate and analyze customer profiles, transactions, and business relationships to identify and assess potential risks and suspicious activities.
• Stay up-to-date with relevant laws, regulations, and industry best practices related to KYC and anti-money laundering (AML) to ensure compliance and implement necessary changes to existing processes.
• Investigate and resolve alerts generated by automated monitoring systems and escalate any suspicious activities to the appropriate authorities, if required.
• Collaborate with various departments, such as Compliance, Risk Management, Legal, and Operations, to share insights, address concerns, and implement efficient KYC processes.
• Provide training and awareness sessions to employees on KYC/AML procedures, regulatory updates, and emerging trends in financial crimes.
• Co-ordinate with Branch Managers and Cluster Managers to ensure any missing customer details are collected and updated.
• Alert various business heads on KYC gaps in their respective Business units and work with them to ensure that the gaps are closed.
• Maintain accurate and comprehensive records of all KYC-related activities, including investigation findings, decisions, and communications.
• Propose and implement enhancements to the KYC process to improve efficiency, accuracy, and risk management.
• Provide adequate supervision to the Records Management and KYC Monitoring staff
• Provide management with timely MIS relating to KYC to facilitate Decision Making
• Preparation of input into Board papers
• The capacity to work co-operatively with others to achieve shared goals
•
Requirements
Qualifications/Experience
• Education: Degree in Library Studies, Business or Finance
• Professional: AML Certifications/ ACAMS or equivalent
• Minimum Experience: 5years previous experience in KYC/AML, compliance, risk management, or a similar field within the financial services industry.

Competencies
• Leadership Skills
• Attention to detail
• Analytical thinking
• Interpersonal Skills
• Customer service orientation
• Accountability
• Drive for results
• Problem solving
• Teamwork
• System proficiency

Job Experience: No Requirements

Work Hours: 8

Experience in Months:

Level of Education: Bachelor Degree

Job application procedure
• Interested and qualified? Click here to apply

All Jobs

QUICK ALERT SUBSCRIPTION