Job Purpose:
The Chief Compliance Officer (CCO) is responsible for overseeing and managing compliance within the Laspay, ensuring that it adheres to internal policies and procedures, as well as external regulatory and legal requirements. The role encompasses oversight of Transaction Monitoring Systems (TMS), name screening, Know Your Customer (KYC), regulatory compliance, Regulatory Coordination Unit (RCU), and submission of Currency Transaction Reports (CTR) and Suspicious Transaction Reports (STR), among other compliance activities.
Key Responsibilities:
1. Compliance Management & Regulatory Oversight:
- Develop, implement, and maintain the compliance program to ensure compliance with applicable laws and regulations derived from da Bank of Afghanistan.
- Monitor regulatory developments and ensure timely implementation of relevant changes.
- Liaise with regulatory bodies including da bank of Afghanistan and SEC Afghanistan.
- Oversee the Regulatory Coordination Unit to manage interactions with regulators and ensure appropriate regulatory filings.
2. Transaction Monitoring System (TMS) Oversight:
- Ensure effective implementation and management of TMS to detect and investigate potentially suspicious activity.
- Periodically review and enhance transaction monitoring rules to adapt to evolving risks and regulatory expectations.
- Escalate suspicious transactions for further review and ensure proper documentation.
3. Name Screening & Sanctions Compliance:
- Ensure robust name screening against relevant sanctions and PEP lists using appropriate tools.
- Manage false positives and confirm true matches in collaboration with other control functions.
- Oversee ongoing updates to sanction list screening protocols.
4. KYC & Customer Due Diligence (CDD):
- Ensure adherence to KYC, CDD, and enhanced due diligence (EDD) requirements throughout the customer lifecycle.
- Periodic review of onboarding and review processes to ensure effectiveness and efficiency.
- Manage escalations related to high-risk clients or complex ownership structures.
5. CTR & STR Reporting:
- Ensure timely and accurate submission of Currency Transaction Reports (CTR) and Suspicious Transaction Reports (STR) in accordance with local AML regulations.
- Maintain comprehensive records of all reports filed and ensure staff are trained to escalate appropriately.
6. Policies & Procedures:
- Draft, review, and update compliance policies and procedures to reflect regulatory changes and operational needs.
- Ensure dissemination and awareness of policies across the Laspay.
7. Training & Awareness:
- Develop and deliver compliance training programs tailored to various departments.
- Foster a strong compliance culture throughout the organization.
8. Internal & External Audits:
- Act as the primary liaison for compliance audits and regulatory inspections.
- Address findings and implement remediation actions promptly.
9. Reporting to Senior Management & Board:
- Provide regular compliance updates and risk assessments to senior management and the Board.
- Escalate material compliance issues and provide recommendations for mitigation.
