Compliance Officer

The incumbent will support the Manager - FATCA/CRS & International Compliance in effective management and implementation of Foreign Account Tax Compliance Act (FATCA) and OECD Common Reporting Standard (CRS) across the Doha Bank Group. The Compliance Officer will support the Manager - FATCA/CRS & International Compliance in ensuring full regulatory compliance under the FATCA / CRS regime, and timely submission of FATCA / CRS regulatory reporting, and all customer accounts comply with FATCA / CRS requirements, in line with the guidelines/parameters set by the regulatory agencies and the applicable laws.

1. Detailed Roles and Responsibilities:

OPERATIONAL

FATCA / CRS

• Assist the Manager - FATCA/CRS & International Compliance in managing the implementation of OECD CRS regulation at Doha Bank Qatar, UAE, Kuwait and India branches in close coordination with the respective stakeholders, in line with regulatory guidelines/timelines.
• Assist the Manager - FATCA/CRS & International Compliance in ensuring that all required changes in customer onboarding process and procedures and IT systems are developed to capture the CRS and FATCA required information.
• Assist the Manager - FATCA/CRS & International Compliance in ensuring that all FATCA and CRS regulatory reports are developed in coordination with IT and are submitted to regulators on time for Doha Bank Group with completion and accuracy.
• Assist the Manager - FATCA/CRS & International Compliance in maintaining effective liaison with Qatar Central Bank, General Tax Authority, Ministry of Finance, US IRS and Other local regulators on all FATCA / CRS related matters and to timely respond to their queries.
• Maintain a database of all QCB /GTA circular on FATCA and CRS and ensure that appropriate action is taken on all circulars.
• Assist the Manager - FATCA/CRS & International Compliance to address all FATCA / CRS queries from retail, corporate, treasury, overseas branches and other business units.
• Perform regular control testing / monitoring of all new customer accounts opened to ensure FATCA / CRS compliance. Take timely corrective actions for all issues noted in coordination with Retail and Corporate branches / Branch Control, operations / other relevant department.
• Validate FATCA and CRS information for all correspondent banking relationship (Nostro, Vostro and RMA) during the establishment of relationship and annual review.
• Identify and raise any risks/breaches related to FATCA/CRS through various inspections and preparing necessary reports for corrective actions by the relevant business functions.
• Ensure that internal monitoring mechanisms are established to ensure accurate data collection.
• Assist in formulating and delivering effective FATCA / CRS training and awareness programs to all relevant Doha Bank staff at Qatar and Overseas branches as per the regulatory and bank’s internal policy/procedures.
• Assist in updating FATCA and CRS Policy and Procedures, Presentations and E-Learnings for Qatar and Overseas branches.
• Assist in managing the formulation and ensure effective implementation of the FATCA and CRS Policies & Procedures.
• Ensure all required IT system implementations / changes for FATCA/CRS are completed on time. Perform system testing / UAT and validations before go live.
• Assist in ensuring that all modification required in customer on boarding procedures including amendments to existing Account Opening forms including additional forms like FATCA Addendum to account opening form, CRS Self-Certification Form etc. and processes are implemented correctly for Qatar and Overseas branches.
• Assist in ensuring the required annual enhanced due diligence related to FATCA/CRS is done for all pre-existing customers as per regulatory requirements.
• Assist in ensuring and spotting any gaps related to FATCA/CRS through various MIS monitoring reports.
• Assist in ensuring that FATCA / CRS implementation programs are established and managed in the overseas branches.
• Assist in ensuring that the Bank stays informed on all changes and / or updates to FATCA / CRS and International market intelligence in respect of FATCA /CRS and other similar regulations.
• Coordinate and support FATCA / CRS coordinator at overseas branches and ensure that control testing is performed on a regular basis.
• Assist Manager - FATCA/CRS & International Compliance to ensure FATCA and CRS Compliance for subsidiaries and funds managed by Doha Bank.
• Assist Manager - FATCA/CRS & International Compliance to rectify all open observations in internal audit, any other review reports by external consultants, regulators on FATCA and CRS.
• Perform all operational activities as assigned by the reporting authorities, in compliance with local regulations, Doha Bank’s policies and units/departments approved policies and procedures.
• Support reporting authorities in on ground implementation of the procedural control measures identified through audit, risk and compliance observations.
• Support reporting authorities in periodically reviewing and updating the RCSAs pertaining to the processes executed within the unit with identified risks and areas for improvement. Also, ensure adherence to the controls defined in the RCSA.
• Support reporting authorities in timely rectification of observations / gaps identified by audit, compliance and risk.
• Perform any specific IT Compliance related activities as assigned by Chief Compliance Officer / Manager - FATCA/CRS & International Compliance.
• Lead any other projects/assignments, as assigned by the Manager - FATCA/CRS & International Compliance.
• Maintain highest standards of confidentiality, professional conduct, ethics and integrity in the provision of services in the unit.
• Follow the audit, risk, compliance and procedural control measures set by the management.

Additional responsibilities assigned to the staff - International Compliance

• Support in implementation of Compliance and AML/CFT inspection plans and compliance programs for the overseas branches with proper tracking and escalations where required.
• Assist the respective team in evaluating the effectiveness/adequacy of available systems, policies and internal controls to mitigate the Compliance/regulatory and AML/CFT risks.
• Coordinate with the team to ensure timely submission of records in coordination with the relevant teams on account of central bank Inspection reports follow ups, action plan and ensure rectifications as identified by the local regulatory / Home regulator (QCB).
• Observe existing violations, if any, and update the reporting authorities with suggestions/recommendations to avoid further recurrence.
• Coordinate to ensure completion and submission of all periodic reports to the respective stakeholders, in compliance with local regulations and procedural requirements, in a timely manner.
• Guide and monitor the overseas Compliance team in adherence to internal compliance mandates and ensure timely resolution of issues, as identified.
• Cascade and coordinate the respective teams on region specific directives related to Compliance and AML/CFT, as applicable.
• Maintain highest standards of confidentiality, professional conduct, ethics and integrity in the provision of services in the unit.
• Follow the audit, compliance and procedural control measures set by the management.