Head of Regulatory

1) MAJOR RESPONSIBILITIES AND ACOUNTABILITIES

Ensure that appropriate regulatory compliance governance structures exist and are designed in a manner that are “fit for purpose” of EGBANK compliance with all existing regulatory requirements;
Develop, maintain and update all Compliance related policies ensuring they are up-to-date and capturing the state-of-the-art compliance best practices and satisfy all regulatory requirements;
Ensure that Compliance framework, policies, standards and procedures are documented, understood and used effectively throughout the Bank;
Work with business partners to identify, discuss and address emerging regulatory trends that may impact business operations from a bank regulatory compliance perspective; actively monitor and report on regulatory developments and trends affecting business platforms;
Monitor the performance of the “Compliance Program” and related activities on a continuing basis, taking appropriate steps to improve its effectiveness, identifying gaps in compliance and address those by implementing systems, procedures and controls and ensure that the regulatory risks are appropriately identified, assessed and mitigated;
Develop and manage the Compliance Monitoring & Testing Program and methodology including: (the development of the annual testing plan “through (onsite & offsite monitoring)”, leading and/or perform compliance testing, identify issues and make recommendations and report the results, develop test scripts corresponding to scope of the engagement and business expectations, assess the design and effectiveness of controls implemented to mitigate the applicable compliance risks, collaborate with business lines to develop remediation plans to resolve control weaknesses identified through testing, track and validate the implementation of remedial actions submitted by the business owners to verify that issues identified during testing are remediated and prepare reports for Senior Management that highlights the scope, testing approaches, testing results, and compliance testing activities;
Work in a consultative manner and provide guidance and support on compliance matters relating to the different areas of business & respond to all inquiries raised by branches / business units regarding regulatory issues;
Support Senior Management in ensuing all significant regulatory risks are identified, reported and mitigated to an acceptable level (as an integral part of the EGBANK risk management framework);
Review new businesses from a Compliance perspective;
**Keep the Senior Management team informed of**:
key developments in the regulatory field,
incidents which may result in either reputational or significant financial damage,
Concerns which may impact the business’ ability to comply with applicable rules and regulations along with the recommended corrective actions as applicable

Provide effective reporting of compliance updates / issues / areas of development to Head of Compliance along with the recommended corrective actions;
Manage regulatory (aspects/changes) by conducting impact & gap analysis, recommending methodology for implementation regarding all regulatory/law requirements to ensure the Bank is fully compliant;
Advising the business specifically on the regulatory aspects of sales and marketing activity, including reviewing marketing materials and other client communications;
Maintaining an open and co-operative relationship with CBE by acting as the contact point in dealings with CBE (all correspondences, inquiries, inspections, CBE complaints management, etc.);
Prepare reports to regulatory authorities as required and ensuring that the regulatory reporting is undertaken in a timely manner, and is documented correctly
Prepare reports to regulatory authorities as required and ensuring that the regulatory reporting is undertaken in a timely manner, and is documented properly;
Ensure full compliance with the regulatory requirements of (FATCA) regulations through designing and implementing a complete related program that includes policies, procedures and processes sufficient to comply with FATCA regulations;
Periodically review the sufficiency and effectiveness of the Bank's FATCA compliance program and its compliance with the FFI agreement;
Manage submitting the annual FATCA report to the IRS & delivering the periodic certifications;
Establish and maintaining effective Customer Complaint Management Process to help identify whether the bank products and services are causing issues for customers and whether the operations and processes are working as intended, undertake internal complaint-tracking and analysis practices, regulatory reviews, and complaint-handling procedures that result in customers receiving prompt and thorough responses and ensure bank staff respond to customers complaints timely after conducting comprehensive investigations and determining appropriate redress;
Prepare timely and accurate Compliance reports and presentations to th