Compliance Management

COMPLIANCE MANAGEMENT BY, Faisal kamran

Compliance Management    

Compliance Officer Duties of Compliance Officer Purpose of Compliance Officer Pre-requisites for Compliance Officer

Compliance Officer According to Prudential Regulation G-1 (D) Banks/DFIs shall put in place a Compliance Programme to ensure that all relevant laws are complied with, in letter and spirit, and, thus, minimize legal and regulatory risks. For this purpose, the Board of Directors, or Country Manager in case of foreign banks, shall appoint / designate a suitably qualified and experienced person as Compliance Officer on a countrywide basis, who may be assisted by other Compliance Officers down the line. The Head of Compliance will report directly to the President/ Chief Executive of the bank/DFI.

Duties of Compliance Officer The Compliance Officer will primarily be responsible for bank’s/ DFI’s effective compliance relating to:  



SBP Prudential Regulations Relevant provisions of existing laws and regulations Guidelines for KYC



Anti money laundering laws and regulations



Timely submission of accurate data/ returns to regulator and other agencies



Monitor and report suspicious transactions to President/ Chief Executive Officer of the bank/ DFI and other related agencies

Purpose of Compliance Officer 

To serve as a contact point between President/ Chief Executive Officer and senior management, with regard to functioning of the Compliance programme.



To provide assistance in compliance area to the branches and other departments of the bank/ DFI.



To act as liaison with State Bank of Pakistan concerning the issues related to compliance.

Pre-requisites for Compliance Officer 

Honesty, Integrity and Reputation



Competence and Capability



Track Record



Financial Soundness



Conflict of interest

THANK YOU.