Bahrain Money Laundering Reporting Officer (MLRO)

Bank ABC seeks to recruit a Bahrain Money Laundering Reporting Officer (MLRO) in the Group Compliance Department based in our Head Office, in Bahrain.

The Bahrain MLRO is responsible for the implementation and maintenance of all aspects of ABC Group’s AML / CTF Policies, Standards as well as the Sanctions and Financial Crime Program in Bahrain in order to manage compliance and regulatory risk.

Responsibilities of the role :

• Understand the Bahrain regulatory environment and identify all applicable regulations
• Act as ABC Bahrain’s main point of contact and reporting officer with respect to financial crime compliance and respond promptly to any reasonable request made by the Central Bank of Bahrain or other Bahrain law enforcement.
• Support the Group Head of Financial Crime Officer (GHFCC) in implementing and executing the ABC Group's Financial Crime compliance policies and standards on an ongoing basis.
• Establish and maintain ABC Bahrain’s AML / CFT policies and procedures
• Monitor the day‑to‑day operation and regulatory developments and report any new or proposed regulation or legislation that may impact ABC Bahrain to the GHFCC
• Ensure ABC Bahrain complies with the AML Law and any other applicable AML / CFT legislation and regulations as well as the Group’s internal AML / CFT policies and standards.
• Support and facilitate effective functioning of the Bahrain Compliance and Financial Crime Committee (CFCC).
• Support Senior Management and the Board in discharging their FCC responsibilities through review of MLRO related MI and outputs in line with Group policy and standards.
• Proactively engage with other departments / functions to comply with the Bank FCC policy and standards.
• Support the testing and implementation of new reports and financial crime related systems for ABC Bahrain, including supporting the GHFCC in ownership of systems and procedures governing their use
• Provide financial crime compliance advice, guidance and direction to departments in Bahrain.
• Provide guidance and advice, and where required, approve any changes to operating procedures. This includes providing input into the development of new procedures resulting from new product developments and initiatives.
• Lead and drive implementation of FC policies and standards particularly in relation to transaction monitoring, transaction screening, suspicious activity reporting, CDD and C‑RAM in ABC Bahrain.
• Identify and assess the compliance risks applicable to the Bahrain Unit and produce annual reports on the effectiveness of the licensee’s AML / CFT controls, for consideration by senior management.
• Report to management on financial crime issues requiring attention including internal control and / or system weaknesses, updates to financial crime policies and procedures, and oversight of financial crime for Bahrain.
• Coordinate the annual external audit review of Bahrain Compliance ("Agreed Upon Procedures") in conjunction with the Bank’s external auditors, including review of findings and ensuring corrective action.
• Support, review and action any regulatory inspections, audits or local testing reviews specific to financial crime compliance including ensuring corrective actions are taken.
• Self‑identify control gaps through formal GRC Issues in areas under responsibility
• Ensure closure of outstanding self‑identified and audit issues within the stipulated target date.
• Review, advise on, action "unusual / suspicious" transactions and alerts generated from financial crime systems or manual reports, and ensure appropriate action including exiting, maintaining or enhanced monitoring of relationships
• Act as ABC Bahrain’s main point of contact in respect of handling internal suspicious transaction reports from the licensee’s staff and as the main contact for the Financial Intelligence Directorate, the CBB and other concerned bodies regarding AML / CFT.
• Make external suspicious transactions reports to the Financial Intelligence Directorate and the Compliance Directorate.
• Lead, drive and develop the MLRO team in Bahrain by ensuring they understand and fulfil their job roles and responsibilities and are appropriately skilled.
• Establish and maintain adequate arrangements for staff awareness and training on AML / CFT matters (whether internal or external)
• Provide training sessions to staff related to targeted FC trends and systems.
• Provide mentoring to compliance officers in order to ensure a consistent quality of work within the team
• Manage Correspondent Bank and Swift KYC Registry requests and updates.
• Manage high‑risk CDD / KYC on‑boarding and periodic review escalations
• Perform Quality Assurance testing and oversight of 1st line of defense.
• Perform User Acceptance Test (UAT) and the roll‑out of FC Systems and provide input on business requirements, validation exercise etc.
• Ensure timely reporting of regulatory reports (e.g CBB Exposures, etc)
• Manage Bahrain’s Business Continuity Plan (BCP).

Areas of Knowledge, Qualification and Experience :

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