Overall Job Definition
The mission and role of the Compliance Department include the identification, coordination, and management of the bank’s compliance risk, assisting with the effective management of compliance risks, advising the senior management on compliance with laws, rules, and standards, informing regularly on developments in the field, may discharge other specific statutory functions in the framework of fulfilling legal obligations of the bank (such as anti-money laundering), as well as liaise with the Bank of Albania and/or other financial supervision authorities, external statutory accountants, etc., performs the duties specified in BOA regulation under a compliance program that sets out its planned activities, such as implementation and review of specific policies and procedures, special procedures on compliance risk, compliance testing and assessment as well as staff training and education on compliance matters.
Job Tasks and Responsibilities
1. To review the established system & ensure compliance with laws, policies, procedures, and regulations that could have a significant impact on the operations of the Bank.
2. Review the operations to be sure whether the results are consistent with established objectives and whether the operations are being carried out according to the approved procedures.
3. Assess the appropriateness of the bank’s compliance procedures and guidelines, and identified deficiencies by formulating proposals for amendments;
4. Identify, record, and assess compliance risks associated with the bank’s operations, including new products and practices, proposed establishment of new types of business, customer relations, and material changes like such relations;
5. Establish written guidelines for the staff on the appropriate implementation of laws, regulations, and standards through policies and procedures and other documents such as compliance manuals, internal codes of conduct, and practical guidelines;
6. Educate and train staff on compliance issues and act as a focal point within the bank for compliance-related queries from staff members;
7. Measure the compliance risk by using performance, to enhance compliance risk assessment;
8. Monitor, test, and report results of the compliance testing following the bank’s internal risk management procedures, identifying any changes in the compliance risk profile based on relevant performance indicators, identified breaches and/or deficiencies, and corrective measures that have been taken;
9. Monitoring/reporting of fraud events,
10. The Compliance Officer will follow up on the changes in legislation regulating all the different aspects of the bank’s activity in close collaboration with the Legal Department;
11. Formulates the proposals for amendments and prepares draft documents in collaboration with the Head of the related department that will be affected by such amendment, along with the Internal Controller;
1. University Degree in Economy or Law.
2. At least 3 years experience in the banking system.
3. High ability in applying auditing standards, procedures, and techniques.
4. Ability to understand the Bank’s principles to recognize and evaluate the deviations from good business practice.
5. Very good skills in oral and written communication.
6. Be eager for further knowledge and experience to keep informed about improvements and current developments in internal standards, procedures, and techniques.
7. Very good knowledge of written & spoken English and computer skills.
The interested candidates should present the detailed Curriculum Vitae to the Human Resources Department before May 27, 2023. Only the candidates that meet the criteria will be contacted for the interview.