Senior Compliance

2 weeks ago

Jeddah, Makkah Province, Saudi Arabia Islamic Development Bank Full time
IDB3230 - Senior Compliance & Monitoring SP

Business Unit: Finance & CFO

Division: Financial Analysis & Compliance

Job Purpose:

To oversee the day-to-day management of compliance and monitoring of credit, market, liquidity and ALM risk limits. This also includes all activities related to the Middle Office function and regular monitoring of exposures and reporting on breaches to limits. Monitor currency mix of the bank to maintain alignment with the SDR currency basket and oversee all activities pertaining to FPPA's role as Secretariat to ALCO including preparation of the ALCO pack. Work with IMDT and concerned service providers for maintaining and enhancing the systems used by the Middle Office function from compliance and business perspectives. Undertake the regular and ad-hoc data analysis and monitoring, report and dashboard development and maintenance for management analysis.

Key Accountabilities:

Compliance and Monitoring:


• Ensure the delivery of Middle Office function that includes third-party creation, maintenance of static data, market data, ratings and sector data, blotter monitoring, and limits management.


• Design and implement regular reporting to concerned departments and to ALCO on breaches to credit, concentration, market and liquidity limits defined by the respective policies, guidelines and authorities.


• Ensure continuous monitoring and reporting on profit-rate, currency and other market risks inherent in the financing, investing, funding and hedging operations of the bank.


• Ensure weekly monitoring of the currency mix of the bank to maintain alignment with the SDR currency basket and report to treasury on deviations from the neutral positions and actions required to address these deviations.


• Ensure all activities pertaining to FPPA's role as Secretariat to ALCO including preparation of the ALCO pack, regular and other agenda items, and follow-up actions.


• Collaborate with the Planning and Analytics unit to undertake detailed review and assessment of the market and liquidity risk profiles including credit quality of the liquid fund's portfolio, duration mismatch between assets and liabilities, currency mismatch, static and dynamic re-pricing gap analysis, stress testing, sensitivity, etc.


• Develop proficiency and expertise on the systems used for Middle Office and Compliance and ensure adequate maintenance of relevant data.


• Work closely with IMDT Department to (i) enhance the functionality and data input/output of the systems used by Middle Office, (ii) develop/generate reports and dashboards using Business Intelligence (BI) tools such as PowerBI, Web Intelligence, Tableau, QlikView, etc to enhance the regular monitoring and reporting on compliance with limits, (iii) extract and analyze underlying systems data from databases.


• Coordinate with other departments within the Finance Complex on data and functionality of Middle Office systems to meet regular and ad-hoc business and compliance requirements.


• Propose enhancements to processes and systems used by compliance and monitoring function and work on hiring and managing consultants, when needed, for this purpose.

Operational Excellence:


• Provide technical guidance to the lesser experienced team members and review their work.


• Monitor effective implementation and adherence to the respective financial management policies, procedures and controls so that all relevant procedural requirements are fulfilled.


• Keep abreast with the latest developments, regulations and leading practices in the field and proposes any necessary actions.


• Propose and implement process improvements to increase efficiency, effectiveness and compliance of the related operations.

Academic and professional qualifications:


• Bachelor's degree in Finance, Financial Analysis, Information Sciences, Data Analysis, or related field. Certification in FRM, PRM or CFA would be preferred.


• Minimum 8 years of experience in middle office, treasury or risk management, data management and analysis or related field.

Skills & Necessary Knowledge:


• Motivation to Learn and Share


• Passion for Excellence


• Analytical Thinking


• Financial Management


• Advanced knowledge of money/currency markets.


• Advanced knowledge of risk management, treasury function, and compliance.

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