AML/SOS & Compliance Officer AML/SOS & Compliance Officer …

Commercial Bank of Ceylon PLC
in Rome, Lazio, Italy
Permanent, Full time
Last application, 16 Sep 19
Commercial Bank of Ceylon PLC
in Rome, Lazio, Italy
Permanent, Full time
Last application, 16 Sep 19
Commex Sri Lanka S.R.L, is a fully owned subsidiary of Commercial Bank of Ceylon PLC, incorporated and registered in Italy under the supervision of the Bank of Italy, engaged in money transfer operations since 2016. Commercial Bank is one of the first Sri Lankan Banks to establish money transfer facilities in Italy and we invite applications from candidates who are confident of meeting our expectations to fill the position as responsible of Anti Money Laundering function with SOS delegate & Compliance function of Commex Sri Lanka S.R.L. This position would be on a full time responsibility on a permanent contract.




As Responsible of the Anti Money Laundering Function and SOS Delegate & the compliance function, you will be responsible for the coordination and management of matters related to anti-money laundering (AML), counter terrorist financing (CTF) and sanctions/embargoes, along with being responsible to ensure compliance as per the Italian & European regulations applicable to the company.

You also will provide for the identification and reporting of suspicious transactions.




Job Profile / Main Responsibilities 

  • Staying abreast of Italian, European and international regulations relating to aspects of Anti-Money Laundering (AML) and Counter Terrorist Financing (CTF). Analyzing and transposing the rules to the local branch and ensuring consistent application of same at the company on all agents/partners.
  • Being able to read and interpret Italian, European and international legislation and regulations. 
  • Ensuring the adherence to all BOI and other regulatory provisions in EU.
  • Providing guidance and interpretations of all regulatory aspects in Italy to the Board of Directors and the Management of Commex Sri Lanka S.R.L.
  • Coordination with all the regulator authorities in Italy representing the organization.
  • Working with internal and external auditors. 
  • Managing legal and reputational risks in accordance with Italian law and shareholder policy. 
  • Coordinating with different working groups relating to compliance in Italy. 
  • Advising all agents/partners in Italy on compliance related regulations.
  • Ensuring all IT systems/software and infrastructure are in compliance with Italian regulations.
  • Advice the Board on all aspects relating to sustainability and of the organization.    
  • Interacting with Italian supervisory authorities (Bank of Italy, UIF, Consob).
  • Performing second level controls aimed at identifying anomalous behavior for the purpose of reporting a suspicious transaction.
  • Evaluating the anomalous behaviors identified and forwarding suspicious transaction reports to the UIF.
  • Managing and forwarding periodic communications to the Authority (SARA, etc.).
  • Managing AUI and ensuring the adherence to all BOI provisions.
  • Coordinating different working groups relating to compliance in Italy.
  • Assessing the adequacy of internal procedures with respect to the objective of preventing the violation of laws, regulations and self-regulation rules applicable to the organization
  • Identifying the rules applicable to the organization and the services it provides and measures / assesses the impact on organization processes and procedures
  • Proposing organizational and procedural changes aimed at ensuring adequate supervision of the risks of non-compliance with the rules
  • Preparing direct information flows to corporate bodies and other corporate control functions
  • Verifying  the effectiveness of the suggested organizational adjustments for the prevention of the risk of non-compliance
  • Providing new solutions and interpretations of Italian compliance through a risk-based approach. 
  • Analyzing, evaluating and developing control measures and putting them into practice.
  • Continuously reviewing Italian customer on boarding applications in compliance with Italian regulations. 

Applicant’s Profile

  • Should be an Italian national with the knowledge of Italian Regulations.
  • Possess a Degree in Law or Economics from a recognized University. Having a professional qualification in Compliance Management would be an added advantage.
  • Experience in the field of anti-money laundering, counter terrorist financing and compliance regulations with minimum of 5 years experience in a Financial Institution.
  • Experience in analyzing customer operations and identifying anomalous behavior for the purposes of anti-money laundering legislation.
  • Experience in the field of anti-money laundering, counter terrorist financing and compliance regulations. Knowledge on the GDPR regulations would be an added advantage.
  • Experience in the preparation and forwarding reports of suspicious transactions to UIF.
  • Excellent command of Italian and English languages both written and spoken. Command of French language would be considered favourably. 
  • A good team player who possesses sound analytical skills and critical thinking skills with sense of proportionality.
  • Proficiency in MS Excel and familiarity with latest technologies would be an advantage.
  • Leadership competencies that outline abilities, characteristics and behaviour needed to meet the challenges in the Business.

The successful candidate will be provided with an attractive remuneration package, including fringe benefits commensurate with benchmarked financial institutions.