Credit and Compliance Officer
11 years 3 mo. Sep 2009 - Dec 2020
National bank of Pakistan Ashgabat branch, Ashgabat
11 years 3 mo. Sep 2009 - Dec 2020
A member of credit committee of the branch.
• Ensuring that documentation (Loan/Pledge agreements, Guarantees, Title deeds of Collaterals, Creation of Charge in Bank favor etc.) is in accordance with approved terms & conditions of sanction advises.
• Preparation of vouchers. Preparation of loan proposals. Application of interest on loans and other charges.
• After the Finance/Loan facility is sanctioned and withdrawals are allowed, ensure that the Finance/Loan is constantly monitored by way of keeping track of borrower’s compliance with credit terms.
• Identification of early signs of irregularity (if any) and timely recovery of installments.
• Ensuring that borrowers are communicated well in time as and when the principal/markup installment becomes due. Late payments or non-payment of installments are recorded properly and the same are conveyed to competent authority.
• Ensuring that all security documents are kept in fireproof safes under dual control and registers for documents are being maintained to keep track of their movement.
• Arranging fresh and renewal of insurance policies for all primary and collateral securities on regular intervals from Bank’s approved State Insurance Company.
• Opening of letter of credits (import/export, both).
• Preparation of periodical returns of advances for CBT and NBP HO, Karachi.
• Follow up with Branch Management for recovery/regularization of finance.
• Co-Chair of Compliance committee of the branch.
• Daily CTR reporting to Financial Monitoring Service of Turkmenistan as per AML law of Turkmenistan.
• Identify / Monitor unusual / suspicious transactions and reporting of the same to the Branch Management, Financial Monitoring Service and Compliance Group, Head Office Pakistan in an efficient and timely manner.
• Preparation and submission of monthly regulatory updates sheet and Quarterly compliance reports to Compliance Group, Head Office Pakistan.
• Identify and report compliance breaches in legislation of Turkmenistan and CBT Regulations to Branch Management and Compliance Group, Head Office Pakistan. Ensure corrective actions are taken / implemented promptly to resolve matters.
• Attend meetings at Financial Monitoring Service and CBT as and when required by them in respect of AML / CFT areas. Act as a liaison between local regulators and bank. On behalf of bank participation in preparation of Country of National Risk Assessment report. Attend meetings arranged by OSCE in Turkmenistan in respect of AML / CFT areas.
• Name screening of inward / outward remittances (as per black list, OFAC sanctions, offshore lists, Turkmenistan laws / regulations and NBP KYC/AML/CFT Manual requirements) and report positive matches to Branch Management, Regulatory Authorities and Compliance Group.
• Supervise the AML function of the bank; ensure that all related policies and manuals are in place and appropriate Internal Control measures are taken to ensure compliance.
• Supervise periodic review of existing customer files to check compliance of AML Laws and CBT regulations: including annual review of high-risk accounts, correspondent-banking relationship, ongoing review of transactions and deviations in customer profile.
• Facilitate regulatory inspections; manage regulatory penalties, compliance with regulatory inspection reports.
• Report Fraud/loss incidences (on immediate basis), including high risk policy deviations and media reports about the Bank that may impact negatively on the reputation of the Bank to the country head and concerned Group at HO including Compliance.
• Develop and maintain a comprehensive Compliance training program. Arrange Compliance related trainings and create awareness of applicable/revised laws, regulations and policies within the bank to ensure that they are promptly communicated and followed.
• Managing the AML/KYC related risks by identifying Gaps/loopholes in current procedures and practices by suggesting and implementing possible controls measures.
• Check/review of import/export contracts of customers.
• Creation of Outward SWIFT messages in SWIFT program as per standards, Local regulations and instructions.
• Conducting all correspondence regarding outward/inward remittances and timely responding to queries.