Compliance Officer/Money Laundering Reporting Officer

Since inception in 1997, RF Group has been committed to helping clients create and manage wealth. We are your local private bank connecting Bahamians with the best in local and international investments. The Compliance Officer/Money Laundering Reporting Officer is responsible for developing, implementing and maintaining the Bank’s compliance, AML/CFT and sanctions framework in accordance with Bahamian laws, regulatory requirements and supervisory guidance. The role acts independently, with sufficient authority, and serves as MLRO and AML Compliance Officer for RF Bank & Trust (Bahamas) Limited and related entities, while supporting RF Group compliance requirements as needed. Key Responsibilities: Compliance Oversight - Monitor legal, regulatory and supervisory developments and advise management on compliance impacts. - Conduct compliance monitoring and testing to assess adherence to policies, procedures, license conditions, prudential/conduct requirements, AML/CFT, sanctions, FATCA/CRS and reporting obligations. Administering the Bank’s AML/CFT Program - Maintain an effective AML/CFT/PF programme, including customer due diligence, enhanced due diligence for high-risk customers, sanctions screening, monitoring controls and risk-based training. - Develop and update the Bank’s AML/CFT/PF risk assessment, incorporate findings into controls, and present results and mitigation plans to Senior Management and ARMCO. - Review high-risk customers, new products, services, delivery channels, marketing materials and material business initiatives for compliance with legal, regulatory and policy requirements. - Ensure pre-employment and periodic employee screening is completed and documented. - Act as the primary contact with competent authorities in The Bahamas and maintain required AML/CFT training and compliance records. - Implement processes to detect, investigate, escalate and report unusual or suspicious activity. - As MLRO, receive internal reports, investigate cases, determine whether STRs should be filed, submit regulatory reports and respond to FIU requests within required timelines. - Document investigations, screening results, due diligence steps and supporting records, and monitor accounts subject to suspicious activity reporting.   Targeted Financial Sanctions (TFS) & Proliferation Financing - Maintain sanctions screening for customers, transactions and beneficial owners against applicable lists. - Freeze assets without delay, file required reports, and manage delisting/unfreezing in line with TFS requirements. - Embed proliferation financing risk assessment, controls, monitoring and training.   Policies, and Procedures - Develop, review and update compliance, AML/CFT policies, procedures, manuals and onboarding documentation to reflect legal, regulatory and internal requirements. Independent Reviews and Assessments, Compliance fines and Penalties - Manage regulatory examinations, information requests, audits and independent reviews, and coordinate timely responses with relevant business units. - Track remediation actions, regulatory correspondence, fines and penalties, and report material findings to ARMCO.   Monitoring Customer and Employee Complaints - Monitor the Bank’s customer and employee complaints for control deficiencies, regulatory breaches, and AML/CFT-related issues, and report findings to Senior Management and ARMCO. Training and Awareness - Develop, administer and document risk-based compliance, AML/CFT and Code of Conduct/Ethics training for staff and the Board. - Promote awareness of applicable laws, regulations, policies, procedures and professional conduct standards. Other Duties - Perform other associated duties as requested by “ARMCO” of the Board of Directors, the AVP, Risk & Compliance and/or the Group Chief Executive Officer, where appropriate.   Reporting on the Compliance Program for the Bank. - Prepare quarterly reports for ARMCO and monthly reports for the Regulatory, Risk & Compliance Management Committee on compliance matters, control effectiveness and AML/CFT/PF activity against the Group Compliance Roadmap. Key Qualifications & Experience: •    Bachelor’s degree in Finance, Banking, Accounting, Law, Risk Management or a related field. •    Minimum five years’ compliance and/or AML experience within a regulated financial institution; prior CO/MLRO experience is preferred. •    Recognized compliance certification such as CAMS, ICA Diploma, CFCS or equivalent, with ongoing professional education. •    Eligible for regulatory approval as AML Compliance Officer and MLRO, where required •    Strong judgement, integrity, confidentiality, written and verbal communication, analytical, problem-solving and interpersonal skills. •    Ability to work independently, meet deadlines, maintain professional standards, work additional hours and travel as required. Competitive compensation package will commensurate with relevant experience and qualification.  RF Bank & Trust (Bahamas) Limited appreciates your interest. However, only those applications shortlisted will be contacted. Internal Candidates are given preferential consideration for all vacant positions.