Job Summary
Bank of Jordan is seeking a Section Head – KYC to lead and oversee the Bank’s Know Your Customer (KYC), Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) activities, with a particular focus on high-risk customers and regulatory compliance. The role is responsible for ensuring effective implementation of KYC requirements, reviewing customer identification and due diligence information, assessing customer risk, verifying Source of Funds and Source of Wealth, and ensuring compliance with applicable AML/CFT and regulatory requirements. The Section Head will also oversee KYC-related sanctions screening, FATCA customer classification, correspondent banking due diligence, regulatory reporting, and coordination with relevant internal functions to support the Bank’s overall financial crime compliance framework.
Responsibilities
- Lead and oversee the KYC Section and ensure effective execution of KYC and Customer Due Diligence activities.
- Review and oversee KYC documentation and customer identification requirements for high-risk customers and accounts.
- Ensure compliance with the Bank’s KYC policies, procedures, risk-based approach, and applicable regulatory requirements.
- Oversee Enhanced Due Diligence (EDD) for high-risk customers, including verification of Source of Funds, Source of Wealth, income, business activity, ownership structure, and customer risk profile.
- Review and provide recommendations regarding high-risk customer relationships and account-opening requests within the approved authority framework.
- Conduct periodic quality assurance and sample reviews of customer onboarding files to identify KYC deficiencies and ensure appropriate corrective actions.
- Provide customer information and KYC analysis to relevant AML/CFT functions to support transaction monitoring, investigations, and financial crime risk assessments.
- Ensure customer activity is appropriately assessed against the customer’s profile, declared business activity, income, source of funds, and assigned risk rating.
- Oversee sanctions screening alerts and potential matches against restricted, sanctioned, or prohibited-party lists and ensure appropriate escalation.
- Oversee FATCA customer classification and related KYC controls.
- Lead and oversee Correspondent Banking KYC and Due Diligence, including risk assessment, periodic reviews, and updating of correspondent bank information.
- Prepare and review KYC-related regulatory reports, disclosures, correspondence, and responses required by the Central Bank of Jordan and other relevant authorities.
- Respond to KYC and AML/CFT-related questionnaires and inquiries received from correspondent banks and relevant stakeholders.
- Maintain complete and accurate KYC records, documentation, reports, and supporting evidence in accordance with Bank policies and regulatory requirements.
- Coordinate with branches, business units, operations, compliance, AML/CFT, and other relevant functions on KYC matters.
- Monitor regulatory and industry developments relating to KYC, CDD, EDD, AML/CFT, sanctions, and customer risk management.
- Recommend enhancements to KYC processes, controls, procedures, and systems based on regulatory developments and identified risks.
- Support internal and external audits, regulatory examinations, and compliance reviews related to KYC activities.
- Ensure the accuracy, completeness, confidentiality, and timely submission of KYC-related information and reports.
- Lead and develop KYC team members, monitor performance, and ensure effective allocation and completion of section responsibilities.
Qualifications:
- Bachelor’s degree in Banking, Finance, Accounting, Business Administration, Law, or a related field.
- Relevant banking experience with strong exposure to KYC, AML/CFT, Compliance, or Financial Crime Risk.
- Minimum 7 years of relevant banking experience, including at least 4 years of hands-on experience in KYC, AML/CFT, Financial Crime Compliance, or a related compliance function.
- Strong practical knowledge of KYC, CDD, EDD, Customer Risk Assessment, Source of Funds, and Source of Wealth requirements.
- Experience handling and reviewing high-risk customer relationships.
- Knowledge of AML/CFT requirements and Central Bank of Jordan regulations and instructions.
- Knowledge of sanctions screening and restricted/prohibited-party requirements.
- Knowledge of FATCA customer classification and related compliance requirements.
- Experience in Correspondent Banking Due Diligence is preferred.
- Strong analytical, investigative, and risk assessment capabilities.
- Strong leadership and people-management skills.
- Excellent communication and stakeholder-management skills.
- Excellent written and spoken Arabic and English.
- Strong knowledge of banking products, services, systems, and internal controls.
- High level of integrity, confidentiality, attention to detail, and professional judgment.
- Ability to manage multiple priorities and work effectively under pressure.
Core Competencies
KYC | Customer Due Diligence | Enhanced Due Diligence | High-Risk Customers | Customer Risk Assessment | Source of Funds | Source of Wealth | AML/CFT | Sanctions Screening | FATCA | Correspondent Banking | Financial Crime Compliance | Regulatory Compliance | Risk-Based Approach | KYC Quality Assurance | Compliance Monitoring | Team Leadership
