Compliance

Compliance

The Compliance Group

The Compliance Group contributes to the protection of the bank, its staff and customers from any risks to its reputation as well as the risk of non-compliance.

  1. Combat money laundering
  2. Prevent abuses of the banking system
  3. Monitor and report terrorist financing risks

What does the compliance team do?

  1. Define & Evaluate : Define, evaluate and report risks and non-compliance in the bank that could lead to legal or administrative penalties, or financial losses
  2. Provide advice and safety measures : Provides advice and guidance as well as monitoring in compliance with the laws, rules, regulations and the professional code of conduct
  3. Report : One of the major functions of the compliance group is to report risks of money laundering and terrorist financing that could damage the bank’s reputation

Bank Compliance Environment

  1. Board of Directors : The Bank’s Board of Directors oversees the risks of non-compliance and provides continued support for senior management and the Compliance Group to ensure effective performance of duties through the BACC.
  2. Senior Management : The bank’s senior management provides continued support to the Compliance Group to ensure its effectiveness within the bank's compliance environment.
  3. Bank Employees : Since all bank employees are aware of the importance of compliance and its benefits for the protection of the bank, its customers, employees and above all the country.
  4. Compliance Group : The group is considered the bank’s hub of compliance and supports the board of directors, senior management and employees in the management of non-compliance risks.

The roles and functions of the compliance group

  1. Compliance laws : Compliance laws, rules and standards cover matters such as observing proper standards of market conduct, managing conflicts of interest, treating customers fairly, and ensuring the suitability of customer advice.
  2. Identify, Monitor and Report : The Compliance Group identifies risks that the bank might face, advises on them, then monitors and reports on the effectiveness of those controls in the management of the bank's exposure to them.
  3. Conflict Resolution : Another important function of the Compliance Group is to resolve compliance difficulties as and when they occur.

Download Compliance Forms and Statements

  1. AML Statement
  2. AML-KYC Questionnaire
  3. Wolfsberg AML Questionnaire
  4. FATCA