The role and responsibilities of a compliance manager of a multinational bank in Bangladesh /22 May 2024

The role and responsibilities of a compliance manager of a multinational bank in Bangladesh

Title of Position: Manager of Compliance

Location: Bangladesh's Dhaka

Pay: Tk. 100,000 - Tk. 150,000 per month

Age Range: 28 to 36 years old

Six to ten years of experience

Date of publication: May 22, 2024

Location: Bangladesh's Dhaka (where duties include regional operations)

Principal Accountabilities: Regulatory Obedience

Keep an eye on and comprehend Bangladeshi regulatory developments, such as orders from the Bangladesh Bank and other regulatory bodies.

Revise the bank's policies and processes to take into account modifications to regional and global laws.

Establish and manage compliance initiatives tailored to Bangladesh's legal framework.

Risk Control:

Perform routine audits and compliance risk assessments of the bank's Bangladeshi operations.

Create and put into action risk-reduction plans that are specific to the area.

Notify top management and the regional compliance office of any compliance concerns or problems.

Policy Formulation:

To make that compliance policies and procedures are in line with Bangladeshi rules, draft, evaluate, and update them as needed.

Make that all staff members are instructed on these policies and are aware of them, with a focus on local legal needs.

Awareness and Training:

Create and implement compliance education initiatives for Bangladeshi workers.

Encourage the local branches and offices to have a compliance-oriented culture.

Examining and Documenting:

Oversee internal inquiries of infractions of compliance in the activities of Bangladesh.

Create compliance reports and send them to the Bangladesh Bank and other appropriate authorities.

Keep thorough records of all compliance-related actions, including complaints and the conclusions of investigations.

Organising with interested parties:

Work together with the internal audit, risk management, and legal departments to guarantee thorough compliance coverage.

operate as the primary point of contact for questions from Bangladeshi internal and external stakeholders regarding compliance.

During inspections and audits, cooperate with external regulators and auditors.

Systems and Technology:

To keep an eye on and document compliance actions, make use of compliance management software and tools.

Keep abreast of technical developments that can improve localised compliance reporting and monitoring.

Competencies and Background:

Background in Education:

a bachelor's degree in business administration, law, finance, or a similar discipline.

It is quite desirable to have an advanced degree or certification (such as CAMS or CRCM).

Experience:

a minimum of five to seven years' experience working in a compliance capacity in the banking or finance sectors.

It is beneficial to have prior experience working in a global environment and to have particular knowledge of Bangladeshi rules.

Understanding:

thorough familiarity with Bangladesh Bank regulations, as well as other banking laws in the country.

knowledge of Bangladeshi legislation pertaining to data protection, anti-corruption, anti-bribery, and anti-money laundering (AML).

Proficiency:

strong ability to analyse and solve problems.

outstanding interpersonal and communication abilities.

capacity to manage several projects at once and operate autonomously.

proficiency with tools and technologies for compliance management.

Individual Qualities:

high moral values and sincerity.

strong focus on details.

Ability to maintain composure under duress and handle private information with care.

Path of Career:

Entry-Level: Junior Compliance Officer, Compliance Analyst

Mid-Level: Senior Compliance Officer, Compliance Manager

Senior-Level: Chief Compliance Officer (CCO), Head of Compliance