Job Objective:
To ensure the soundness and effectiveness of the company’s internal policies and verify their compliance with relevant local and international regulations—particularly those related to Anti-Money Laundering and Counter-Terrorism Financing (AML/CFT) in the Hashemite Kingdom of Jordan—through the implementation of comprehensive audit programs and the provision of necessary improvement recommendations.
Key Roles and Responsibilities:
1. Review and Evaluation of Internal Policies
• Conduct comprehensive reviews of policies and procedures related to AML/CFT.
• Verify the alignment of policies with:
• Regulatory frameworks governing the company’s operations.
• International standards such as the Financial Action Task Force (FATF) Recommendations.
• Ensure policies cover the following essential components:
• Definition and standards of Know Your Customer (KYC).
• Procedures for reporting Suspicious Transactions (STRs).
• Recordkeeping and identity verification.
• Internal risk assessment for money laundering.
2. Audit of Policy Implementation and Compliance
• Conduct periodic reviews of the Operations and Customer Service departments in particular, and other departments in general.
• Test the effectiveness of financial transaction monitoring mechanisms and ensure proper escalation of suspicious cases.
• Evaluate the performance and configuration of automated detection systems for unusual transactions.
3. Review of Awareness and Training Programs
• Verify the existence of regular employee training programs on AML/CFT.
• Assess the effectiveness of training content and employee engagement.
• Provide recommendations to improve awareness programs, especially in high-risk departments.
4. Evaluation of Internal Control Environment Related to AML/CFT
• Ensure the existence of a clear mechanism for internal reporting of suspicious transactions and the protection of whistleblowers.
• Coordinate with the Compliance/Notification Department regarding reports and case file preparation.
• Analyze the efficiency of different departments in responding to Compliance Department requests (e.g., Operations, Finance, HR, Customer Service).
5. Audit Reporting and Recommendations
• Prepare detailed audit reports including:
• Identification of gaps.
• Risk level assessment.
• Practical and actionable recommendations.
• Submit reports to:
• Senior Management.
• Audit and Risk Committee.
6. Contribution to Policy Development
• Recommend policy updates based on audit findings or new regulatory requirements.
• Review final policy drafts to ensure clarity and completeness.
• Participate in committees and task forces concerned with enhancing the internal control framework.
7. Other Duties
• Carry out any additional tasks assigned by management, provided they do not conflict with the core duties listed above.
Qualifications and Requirements:
• A university degree in Finance or a related field.
• 1 to 3 years of experience in internal auditing, preferably within the financial or banking sector.
• Familiarity with local and international AML/CFT regulations.
• Strong analytical skills and the ability to produce accurate and professional reports.
• Holding a professional certificate issued by JSC is a plus.
• Preferred professional certifications include one of the following:
• Certified Internal Auditor (CIA).
• Certified Anti-Money Laundering Specialist (CAMS).
• Certification in Risk Management Assurance (CRMA).
