Money Laundering Reporting And Compliance Officer

Job Function:

Core Functions (CO):

  • Develop, implement, maintain, and update, as needed, the Central Bank of   The Bahamas’ Anti-Money Laundering, Countering the Financing of Terrorism and Proliferation Financing (AML/CFT/CPF) Framework, Policies and Procedures, in accordance with applicable laws, industry and international best practices, and sanctions requirements, taking into account the unique organizational needs of a central bank;
  • Oversee effective ML/TF/PF risk management and compliance with the Bank’s AML/CFT/CPF framework and related internal policies and procedures;
  • Lead internal AML/CFT/CPF training sessions for the Bank and establish, implement, maintain, and update an AML/CFT/CPF Continuing Education Program for the Bank and for the Board of Directors; and  
  • Develop and disseminate reports on the state of the Bank’s AML/CFT/CPF compliance environment.

Core Functions (MLRO):

  • Act as the main point of contact between the Bank and the Financial Intelligence Unit (FIU) to manage and report suspicions of staff regarding money laundering, terrorist financing and proliferation financing;
  • Direct the investigation of and take necessary actions in relation to any suspicious activities identified by Bank employees or monitoring systems that show indications of a possible link to terrorist financing, the laundering of money or other illicit activities;
  • Oversee and, if necessary, conduct reviews of accounts and transactions that have been determined to pose higher risk for money laundering, determining the cautionary measures considered appropriate and reporting on such matters;
  • Develop and deliver money laundering and terrorism prevention and sanctions training to all Bank employees; and
  • Create reports to provide to the Board on AML/CFT/CPF functions as well as the amount of unusual transaction reports internally reported and the number of suspicious transaction reports issued to the FIU.



Job Requirement:


Education and Experience:

  • Master’s degree in Anti-Money Laundering and Counter Terrorist Financing, Law, Finance, Banking, Economics or policy related subject from a recognized tertiary institution;
  • Professional Certification or Qualification in AML/CFT/CPF, such as ICA certificate in AML, CAMS certification, or similar certification;
  • Demonstrated experience of up to seven years in a compliance or similar function, thereby overseeing that Anti-Money Laundering and Anti-Terrorism legislation was adhered to in a financial institution or a financial sector regulatory agency;
  • Sound knowledge of and understanding of how to apply international AML/CFT/CPF standards, frameworks and guidance issued by International Standard Setting Bodies, such as the FATF and the OECD, in the Bahamian context;
  • In-depth knowledge of and understanding of money laundering and terrorist financing risks of financial institutions and how the AML/CFT/CPF framework of The Bahamas applies to the business of a financial institution;
  • Strong analytical, research and policy analysis skills; as well as, the ability to utilize AML compliance software; and
  • Strong verbal and written communication skills.