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Job Description

The principal mission of the candidate is to be responsible for developing, implementing and administering all aspects of the company’s Compliance Management System. Focusing on the detection and prevention of money laundering, terrorist financing, consumer fraud activities, consumer protection expectations and any other laws and regulations that pertain to the activities that Ria performs as a Casa Remesadora (Money Transmitter) in the country.

Responsibilities

Your main responsibilities will include, but will not be limited to:

• Deep knowledge of the Panamanian AML/CTF regulations (Superintentencia de Bancos, Unidad de Análisis Financiero -UAF-, Ministerio de Comercio e Industrias Panamá -MICI- & other).
• Prepare and update the company´s AML/CFT Program.
• Plan, organize and control the day-to-day administrative and operational compliance activities; training of the employees, Ria agents, and Ria correspondents. Collaborate with the Senior Management in the overall administration of these activities for the company.
• Liaise with local regulators Superintendencia de Bancos de Panamá, Central Bank, Financial Intelligence Unit, MICI and other relevant authorities in order to meet the company’s regulatory obligations.
• Advise the Board of Directors, Senior Management and other personnel of emerging compliance issues and consults and guide the company in the establishment of controls to mitigate risks.
• Implement an effective Compliance Risk Assessment System in order to identify the risks associated within the regulatory environment, the products and services offered, geographical locations of operation and the delivery channels used.
• Due diligence tasks for existing correspondents on boarded, process and ongoing KYC updates.
• Promote a culture of Compliance both in the Company and in the agents.
• Audit branches and agents in order to confirm their adherence to Ria Panama's policies.
• Agent’s activity oversite, ensuring that transactions carried out at our agent locations comply with internal AML/ATF policies.
• Transaction Monitoring functions and reporting tasks and any other regulatory requirements.
• Perform in-depth analysis of transactions using excel pivot tables to detect unusual/suspicious activity
• Implement and effective AML/CTF training and continuing education programs to all applicable employees and senior management.
• Implement, supervise and enhance compliance and fraud-prevention policies and procedures and assist in the development of Compliance and fraud-prevention programs, as required.
• Work with different departments to coordinate all reportorial and other requirements prescribed by the regulator. Prepare approval requests for new products and renew of the business permits on an annual basis.
• Data protection tasks in accordance with country laws and regulations that pertain to the activities that Ria performs as a Casa Remesadora.
• To enforce risk management and mitigation processes within the company.

Qualifications

• Experience/knowledge of compliance issues in financial institutions.
• Transaction monitoring and AML/ATF experience.
• High capacity to understand and apply the various legal systems applicable in the country.
• Be fluent in English, written and spoken (mandatory).
• Excellent communication skills, both written and spoken.
• Microsoft Excel Advanced (mandatory) Clean and efficient working, pivot tables, dashboards, charts, multiple formulas, data analytics.
• Microsoft 365 (Word, Outlook, Teams, OneDrive, OneNote, Power Point, Planner).
• Technology oriented, with the ability to learn many different programs naturally.
• CAMS (prefered)