Compliance OfficerMoney Laundering Reporting Officer - Associate

Job Description

You will be part of the MENAT Compliance function, assisting management and staff in fulfilling their duty of compliance and providing a broad range of regulatory and compliance services and advice to all areas of JPMorgan Chase worldwide.

As a Compliance Officer and MLRO for JPMorgan Chase bank N.A.- Bahrain Branch, you will be mandated to conduct compliance monitoring activities, formulate regulatory and control policies, assist in risk assessments, provide guidance with new product developments and implementations as well as educate staff in regard to compliance policies and procedures. The role also includes coverage of Legal Entities in Egypt, Lebanon, and Pakistan.

Job Responsibilities - Compliance Officer

• Fulfilling the role of Compliance Officer registered with CBB; establish and maintain the regulatory relationship for Bahrain Branch with CBB, responding to CBB’s notices and requests
• Provision of pro-active advice to business management in the development of policies and procedures, designed to achieve and ensure compliance with corporate and regulatory requirements, specifically the rules of the Central Bank of Bahrain (“CBB”) in addition to US rules (where applicable) and internal corporate policies;
• Promoting a strong Compliance culture throughout the locations covered, establishing Compliance priorities with senior management and communicating these priorities effectively
• Assist in the preparation and delivery of a Bahrain Branch’s compliance training and awareness programme
• Identifying and investigating potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required
• Advice in New Business Initiative Approvals involving business operations, assessing Compliance/Regulatory issues/impact of proposed new products and services;
• Liaison with internal and external auditors and assist in managing responses and actioning compliance issues raised in audit reports& Control Self Assessment reviews
• Advice to Local Operational Risk and Control Committee (LORCC) and Local Management Committee (LMC) on Compliance priorities and issues, as permanent member, reporting
• Keeping abreast of industry trends and “hot issues” and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed (e.g. participation in local compliance officer network groups)
• Working as part of the EMEA regional and global Compliance team
• Monitoring and assessing on an ongoing basis: the adequacy and efficacy of the firm’s written compliance policies and procedures; compliance with the written compliance policies and procedures; and the adequacy and efficacy of measures taken to address deficiencies
• Maintaining and updating the firm’s written compliance procedures in conjunction with the firm’s senior management
• Providing advice and support to the firm’s senior management in respect of compliance issues
  

Job Responsibilities – MLRO

• Fulfilling the role of MLRO registered with CBB and oversee the implementation of the AML/CFT program in relation to jurisdictions covered
• Establishing and maintaining the AML/CFT policies and procedures
• Ensuring compliance with the AML Law and any other applicable AML/CFT legislation and regulations
• Ensuring day-to-day compliance with internal AML/CFT policies and procedures
• Acting as main point of contact in respect of handling internal suspicious transaction reports from staff and as the main contact for the Authorities regarding AML/CFT
• Making external suspicious transactions reports to the Authorities
• Taking reasonable steps to establish and maintain adequate arrangements for staff awareness and training on AML/CFT matters
• Producing annual reports on the effectiveness of AML/CFT controls, for consideration by senior management
• On-going monitoring of what may, in MLRO opinion, constitute high risk areas
• Reporting to management and stakeholders on AML/CFT matter
• Ensuring the Branch maintains all necessary CDD, transactions, STR and staff training records for the required periods
  

Required Qualifications, Capabilities And Skills

• Minimum of 5 years experience in compliance role and 3 years of experience in anti-money laundering role
• Hold a university degree at bachelor level or higher and relevant professional qualifications in compliance and anti-money laundering
• Residency in Bahrain is required