MGT 509 MODULE 1 SLP ASSIGNMENT

[Name of the Institute]

MGT 509 MODULE 1 SLP ASSIGNMENT

Introduction

The aim and objective of this assignment is to discuss and analyze the role and job responsibilities of a compliance officer. Moreover, the qualifications, knowledge, skills, abilities, expertise and experience which is required for the position of Compliance Officer will also be discussed in this assignment.

Role and Responsibility of a Compliance Officer

Following are the functions that are required to perform by a compliance officer:

The compliance officer make sure that the management, Board of Directors and the employees of the organization are complying with the regulations and rules of the regulatory authorities and the policies of the company and procedures are being followed.

Verify the implementation of policies and procedures in place for customer insight , market knowledge , knowledge of correspondent banking as appropriate. Similarly, verify the application of the procedures necessary to ensure the integrity level of the directors, managers and employees.

Regularly review customer assessments on record excluded from operations and procedures in place to the exclusion of customers such registration , if applicable.

Review the independent opinions and other assessments on clients to be excluded from the record of operations, as appropriate.

Verify proper preservation and custody of documents required for the prevention of money laundering and financing.

Keep track of transactions reported by staff as unusual.

Performs periodic compliance assessments in the various departments of the cooperative to ensure that operations are being performed in accordance with the manual and policies and operational instructions and applicable laws.

Coordinates meetings with management and supervisors of departments to be audited ; discusses the purpose and scope of the audit, checker, performs tests and prepares reports which make recommendations based on findings and information obtained during the process to be discussed with the administration and department supervisors .

Keeps management of the institution inform ...