BANK OF AFRICA - KENYA LIMITED (BOA-KENYA) is a commercial bank providing banking services to corporate, SME and retail clientele.

Job Purpose

Ensure the Bank is compliant with internal policies and procedures, external laws and regulations relating to customer due diligence, anti-money laundering, countering financing of terrorism and countering proliferation financing.

Responsible for controlling and managing financial crime risks related to money laundering, terrorism financing, proliferation financing and compliance with financial embargoes/sanctions.

Responsibilities and Accountabilities

Regulatory and Statutory Compliance; Ensure reports to the regulators are submitted within required timelines by;

• Ensuring compliance with due diligence and KYC requirements as per regulatory requirements and international best practice.
• Ensuring any new and amendments to the relevant laws and regulations are communicated and implemented.
• Continuous review and update of the Bank’s internal blacklist.
• Periodically reviewing the compliance risk management policy and other policies and procedures relating to the compliance function.
• Cooperate fully with regulators and law enforcement agents by making available required documents and information.
• Ensure that all media sources (newspapers / internet) are reviewed daily to keep abreast with information on high risk customers and customers with adverse information.
• Stay abreast of, identify, and report / escalate on any new and emerging trends and typologies in the legislative and regulatory environment, any product issues, or any risks.

Customer due diligence and AML. KYC, CFT and CPF (Transaction Screening and Monitoring); Ensure daily monitoring, screening, and blacklisting of alerts as appropriate by;

• Reviewing and treatment of alerts triggered by the various screening and monitoring systems put in place and triggers from other manual processes.
• Follow up on alerts flagged by the AML monitoring tool, comprehensive analysis and documentation of findings leading to closure of the alerts.
• Obtain and review of additional supporting documentation or obtain explanations for transactions that are identified or flagged as suspicious by the automated transaction monitoring system.
• Comprehensive analysis, documentation, and treatment of various AML screening alerts.
• Comprehensive review of database screening alerts.
• Analyze potential money laundering, terrorism financing and proliferation financing risks associated with specific customers, products, jurisdiction, and channels of delivery through daily review of accounts opened previous day.
• Screening and quality review of customer-initiated transactions (Transfers, Large cash transactions amongst others) to and from the Bank to ensure they meet the required AML, KYC, CFT and CPF requirements.
• First level review of suspicious transactions reports raised by AML tools or staff and subsequent escalation to MLRO or the alternate for concurrence.
• Accurate and detailed filing of suspicious transactions reports with the relevant authorities.
• Identifying and reporting of suspicious transactions/activities.
• Maintenance of records related to AML,

Research on compliance related matters;

• Participating in research on compliance related matters and offering expert advice to stakeholders.

Reporting

• Preparation of regular reports (Weekly, monthly, quarterly, annually) from various AML tools to MLRO, group and Senior management.
• Ensure timely submission of relevant regulatory reports to CBK, FRC and other internal reporting requirements.

Training and development of Compliance related matters to stakeholders:

• Regularly participate in the Bank’s AML, CFT, CPF programs through initiatives such as training, attestations, filling in compliance questionnaires amongst others.
• To actively participate in Compliance projects and assist in testing of the new systems and assist with ad-hoc tasks, assume responsibility for special projects, participate in system testing and other activities required for the running of the MLS unit.

Minimum Requirements – Academic and Professional Qualifications and Work Experience

• University Degree in Business or related field such as Economics from a recognized institution.
• Minimum 3 years’ banking experience in compliance or risk department with a good understanding of Bank policies, procedures, and external regulations.
• Demonstrated expertise and in-depth knowledge in AML/CFT/CPF and KYC Controls
• Good understanding of Central Bank Prudential guidelines, POCAMLA, Basel Rules, Banking Act, IFRS and other relevant statutes in Banking.
• Evidenced knowledge and understanding of the current banking and financial services operating environment, trends, and practice, related regulatory and governance guidelines and requirement, and applicable laws.

• Ensuring compliance with due diligence and KYC requirements as per regulatory requirements and international best practice.
• Ensuring any new and amendments to the relevant laws and regulations are communicated and implemented.
• Continuous review and update of the Bank’s internal blacklist.
• Periodically reviewing the compliance risk management policy and other policies and procedures relating to the compliance function.
• Cooperate fully with regulators and law enforcement agents by making available required documents and information.
• Ensure that all media sources (newspapers / internet) are reviewed daily to keep abreast with information on high risk customers and customers with adverse information.
• Stay abreast of, identify, and report / escalate on any new and emerging trends and typologies in the legislative and regulatory environment, any product issues, or any risks.
• Reviewing and treatment of alerts triggered by the various screening and monitoring systems put in place and triggers from other manual processes.
• Follow up on alerts flagged by the AML monitoring tool, comprehensive analysis and documentation of findings leading to closure of the alerts.
• Obtain and review of additional supporting documentation or obtain explanations for transactions that are identified or flagged as suspicious by the automated transaction monitoring system.
• Comprehensive analysis, documentation, and treatment of various AML screening alerts.
• Comprehensive review of database screening alerts.
• Analyze potential money laundering, terrorism financing and proliferation financing risks associated with specific customers, products, jurisdiction, and channels of delivery through daily review of accounts opened previous day.
• Screening and quality review of customer-initiated transactions (Transfers, Large cash transactions amongst others) to and from the Bank to ensure they meet the required AML, KYC, CFT and CPF requirements.
• First level review of suspicious transactions reports raised by AML tools or staff and subsequent escalation to MLRO or the alternate for concurrence.
• Accurate and detailed filing of suspicious transactions reports with the relevant authorities.
• Identifying and reporting of suspicious transactions/activities.
• Maintenance of records related to AML,
• Participating in research on compliance related matters and offering expert advice to stakeholders.
• Preparation of regular reports (Weekly, monthly, quarterly, annually) from various AML tools to MLRO, group and Senior management.
• Ensure timely submission of relevant regulatory reports to CBK, FRC and other internal reporting requirements.
• Regularly participate in the Bank’s AML, CFT, CPF programs through initiatives such as training, attestations, filling in compliance questionnaires amongst others.
• To actively participate in Compliance projects and assist in testing of the new systems and assist with ad-hoc tasks, assume responsibility for special projects, participate in system testing and other activities required for the running of the MLS unit.

• Demonstrated expertise and in-depth knowledge in AML/CFT/CPF and KYC Controls
• Good understanding of Central Bank Prudential guidelines, POCAMLA, Basel Rules, Banking Act, IFRS and other relevant statutes in Banking.
• Evidenced knowledge and understanding of the current banking and financial services operating environment, trends, and practice, related regulatory and governance guidelines and requirement, and applicable laws.

• University Degree in Business or related field such as Economics from a recognized institution.