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Work Background
Qenta Inc.Director Of Compliance
May. 2022Islāmābād, Pakistan• Develop and maintain a risk-based compliance management program for global digital assets, payments and collections activities. • Prepare and maintain risk based Anti-Money Laundering, Customer Due Diligence and Know Your Customer Guidelines & Policies in line with relevant laws across regions on Anti Money Laundering, Combating the Financing of Terrorism & Countering Proliferation Financing (AML/CFT/CPF). • Ensuring effective implementation and compliance to risk based Anti-Money Laundering, CDD, Know Your Customer policies & Targeted Financial Sanctions under UNSC Resolutions. • Preparing specific report for suspicious transactions breaches of laws and rules in line with Anti Money Laundering Polices, CDD, KYC and Consumer Protection policies. • Develop and oversee internal procedures pertaining to merchant & customer onboarding, • Serve as a liaison between senior management, product development and technical teams to appropriate compliance support for new and existing products, services and programs. • Act as an internal subject matter expert on compliance related matters supporting the regional/Global compliance team. • Provide regional regulatory advice and support to the business and compliance team members. • Horizon scanning of the regulatory landscape relevant to digital asset cloud regulatory requirement across region. • Perform annual BSA/AML/OFAC risk assessment related to global digital asset and payment system offerings across regions.
Emaan Islamic Banking, SILKBANK Ltd. PakistanHead of Compliance and Internal Controls
Aug. 2018 - Apr. 2022Islāmābād, Pakistan• Responsible for overseeing compliance within an organization and ensuring compliance with laws, regulatory requirements, policies and procedures. • Establishing standards and implementing procedures to ensure that the compliance programs throughout the organization are effective and efficient in identifying, preventing, detecting and correcting non-compliance with applicable laws and regulations. • Provide reasonable assurance to senior management and the Board that there are effective and efficient policies and procedures in place. • Defining the necessary level of knowledge on existing and emerging regulatory compliance requirements across the organization. • Developing the annual compliance work plan that reflects the organization's unique characteristics. • Review and approve Products Program solutions for digital products that encompass digital disbursement, collection, and transactions. • Conduct credit analytics, risk segmentation for innovative fin tech digital solutions with improved customer experience. • Maintain understanding of external competitive digital developments and their impact on our business and retail digital strategy. • Guide the business on regulatory requirements/framework on digital products. • Co-ordinate with the regulators for approval of digital products initiative. • Periodically revising the compliance plan. • Overseeing and monitoring the implementation of the compliance program. • Providing guidance, advice, and/or training and educational programs, to improve business' understanding of related laws and regulatory requirements. • Preparing and presenting clear and concise compliance reports for Board of Directors. • Interacting with regulators on compliance issues and co-ordinate efforts related to audits, reviews, and examinations. • Asses, monitor and close Internal Control Reports of branches and suggest improvements. • Assess, monitor and close Internal Audit Reports, External Audit Reports and SBP Audit report.
Emaan Islamic Banking, Silkbanl limitedHead of Operation and Technology
Jun. 2015 - Jul. 2018Islamabad, Pakistan• Evaluate regularly the efficiency of business procedures according to organizational objectives and apply improvements. • Ensure adherence to regulatory requirements with regards to Operations and IT. • Manage and lead cross-functional project teams for project planning & execution of digital products. • Negotiate & finalize cost along with aligning digital solutions with vendors as per the prioritization and Budget allocation. • To ensure support & maintenance of the services/solutions in place for digital products through responsible parties involved. • Review financial information and adjust operational budgets to promote profitability. • Revise and/or formulate operational/IT policies and promote their implementation. • Manage relationships/agreements with external partners/vendors • Create a department strategic plan which complies with and enhances the company-wide strategic plan and business plan • Report regularly to senior management with completed on-budget and on-time projects and project outcomes • Overseeing all technology operations and evaluating them according to established goals • Devising and establishing IT policies and systems to support the implementation of strategies set by upper management • Close coordination with FinTech’s and implementation of their solutions in the bank. • Analyzing the business requirements of all departments to determine their technology needs. • Purchase efficient and cost-effective technological equipment and software. • Providing expert advice and support when systems are being upgraded or installed, or when there are conversions or file maintenance. • Overseeing the development and enhancement of systems and integrating new systems with those existing.
Emaan Islamic Banking, Silkbank Ltd PakistanHead policy, Internal Controls and Regulatory Affairs
Jun. 2011 - Jun. 2015Initial Job Description • To launch Islamic Banking Operations for Emaan Islamic Banking (Silkbank) under rules and regulations of Central Bank, starting from submission of Initial proposal to issuance of Commencement Certificate. • Enabling Operating System Team (T-24) to make live Islamic Banking Module for Assets and Liabilities products for Islamic Banking. • Preparation of Compliance and Internal Controls Programs. • Devising Policies to organize daily operations under Islamic banking limitations. Job Description after Commencement of Islamic Banking Operations • Supervision and Monitoring, implementation of Compliance programs. • Development and Management of Compliance Management Program, including planning, organizing and controlling daily operational activities of the bank. • To Conduct training sessions for new as well as existing colleagues on Compliance, Internal Controls, Operations. • To provide guidance for preparation of reports on complex compliance factors enabling my colleagues for timely submission of all reports including Suspicious Transactions and Currency Transaction Reports to regulators. • Development of new policies for Islamic Banking and review/vet new products. • Liaison with the Regulators for matters regarding banks operations and all compliance related matters. • Implementation procedures to ensure compliance to “Anti Money Laundering” and “Know Your Customer” regulations in line with Central Banks Prudential Regulations/Internal Controls and International Laws.
Emaan Islamic Banking, Silkbank Pakistan Ltd.Head of Internal Controls, Policy and Regulatory Affairs
Jun. 2011 - May. 2015• Initial launching phase of Islamic Banking: • Involved in launching Islamic Banking Operations for Emaan Islamic Banking (Silkbank) under rules and regulations of Central Bank right from scratch to the issuance of Commencement Certificate. • Responsible for working out complete end to end solutions ranging from preparation of initial proposal for license to seek Regulatory approval and formation of internal structures. • Guiding the Operating System Team (T-24) to make live Islamic Banking Module for Assets and Liabilities products for Islamic Banking. • Involved in the conversion of conventional branches into Islamic banking branches, opening of new Islamic banking branches and commencement of business approval. • Assigned responsibility of planning and implementing compliance and internal controls programs and devising Policies to organize daily operations under Islamic banking limitations. • Responsible for developing and managing Compliance Management Program, including planning, organizing and controlling daily operational activities of the bank. • Guiding for preparation of reports on complex compliance factors for timely submission of all reports including Suspicious Transactions and Currency Transaction Reports to regulators. • After commencement of Islamic Banking Operations: • Involved in the supervision, monitoring and implementation of Compliance & Internal Control programs. • Responsible for devising and managing Compliance Management Program, including planning, organizing and controlling daily operational activities of the bank. • Planning and conducting training sessions for new as well as existing colleagues on Compliance, Internal Controls and Operations. • Developing new policies for Islamic Banking and review/vet new products. • Liaise and communicating with the Regulators for matters regarding banks operations and all compliance related matters.
Dubai Islamic Bank, PakistanUnit Head: Regulatory Compliance & AML/CDD
Mar. 2008 - May. 2011• Provide assistance to Head of Compliance in day-to-day affairs of compliance department. • To receive all regulatory directives and to communicate Regulatory Bodies on behalf of the Bank. To create a professional network with relevant internal and external bodies, including SBP inspection teams, external auditors and internal auditors. • Implementation procedures to ensure compliance of SBP Prudential Regulations, FE Manuals, Circulars, Notifications and other external laws and rules such as FMU Ordinance, Banking Companies Ordinance, etc. • Implementation of procedures to ensure compliance to “Anti Money Laundering” and “Know Your Customer” regulations in line with SBP prudential regulations/Internal controls. • To Review/Vet new products and policies to obtain approvals from Central Bank. • Specific Report for suspicious transactions, breaches of laws rules and standards to Head of Compliance. • To Develop, Coach, Train and Mentor the compliance staff, to equip them with pro-active solution oriented approach to work within their business environments. • Improvement departmental productivity within the gambit of best banking practices and adherence to regulatory/Internal requirements.
United Bank Ltd.Senior Risk Analyst
Sep. 2006 - Mar. 2008• Supervision of the Middle Office functions with respect to Head Office Treasury, Overseas Treasury and Branches. • Analysis of new product proposals from the perspective of market & treasury risk and pricing. • To monitor the transfer pricing mechanism between the treasury and branches. • To develop liquidity Risk Policy and managing liquidity risk issues. • To analyze Foreign Exchange, Money Market, Fixed Income Portfolio, Derivative Products and Equity Investment deals and calculate the resultant profit and loss. Moreover, calculation and analysis of realized profit and loss of all treasury deals with branches. • To conduct the mark to market of all the treasury deals. • To calculate/Report to higher management the position of treasury limits and breaches if any. • To supervise/coordinate for risk assessment framework of lending against shares, Continuous funding system (equity investment). • To supervise and conduct the Sovereign Risk Assessment and risk assessment for International Financial Institutions. • To prepare the reports e.g. Market risk capital charge, Yield interest rate risk and stress test for Basel II department and onward submission to the central bank. • To create a liaison with the Basel II department for preparation of Basel II implementation and reporting to SBP. • To create a liaison with the overseas treasury and branches for investment banking avenues.
State Bank of PakistanOfficer Grade II
Mar. 1998 - Sep. 2006• To conduct onsite Inspection of various Commercial Banks operating in the country including detailed Inspection of advances, deposits, foreign exchange, struck up loans, write-offs, HR etc. • Submission of Inspection reports to the higher management of the concerned Bank followed by a formal meeting for finalization. Foreign Exchange Officer (Foreign Exchange Department) • To conduct daily operations of foreign exchange department. • Coordination with commercial banks in managing the foreign exchange reserves of the country. • To conduct process of import and export related issues. • To report FX related data to the Statistical department. Audit Officer (Internal Audit Department) • To conduct monthly internal audit of the bank. Main areas audited were Foreign exchange, domestic debt management, export refinance scheme, payment system, commercial bank accounts department. • To create Liaison with the external auditors. • To conduct/Supervise audits of the commercial bank’s cash management system. To create a Liaison with different committees of commercial banks and chamber of commerce to suggest measures to improve the efficiency of the banking system and trade.
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