Financial Crime World

Here is the rewritten article in markdown format:

Compliance Officers Hold Key Role in Cambodia’s Banking Sector

Phnom Penh, Cambodia

In the wake of heightened regulatory scrutiny and increasing focus on anti-money laundering (AML) and counter-terrorism financing (CTF), compliance officers have emerged as critical players in Cambodia’s banking sector.

A Well-Equipped Compliance Department is Essential

According to industry experts, a well-equipped Compliance Department is essential for banks to navigate the complex web of regulations and maintain a clean reputation. The role of a Head of Compliance Officer has become increasingly vital in ensuring that banks operate within the bounds of the law and maintain the trust of their customers.

Leading the Charge at Foreign Trade Bank of Cambodia (FTB)

At FTB, the Head of Compliance Department is responsible for managing and leading the Compliance Department, directly reporting to the Risk Management and Compliance Committee. The role requires a high degree of leadership, strategic thinking, and operational expertise to provide reliable and consistent support to all related functions within the bank.

Key Responsibilities of the Head of Compliance Officer

  • Overseeing compliance issues and matters within the bank
  • Implementing AML/CTF policies and procedures
  • Leading in the compliance function to contribute to the bank’s strategic progress and overall business objectives
  • Working closely with the risk management function to manage compliance risk and develop policies, procedures, and processes for compliance functions

Key Qualifications

The ideal candidate should possess:

  • A Bachelor’s Degree or MBA in Economics, Law, Finance, and Banking, or related field
  • At least 8 years of banking experience in audit, compliance, and legal
  • Strong leadership skills
  • Sound knowledge on local regulatory requirements
  • Practical experience in compliance

Call to Action

For those interested in applying for the Head of Compliance Department position at FTB, please submit your cover letter and most updated CV (with current photo) to hr@ftb.com.kh or drop off a hard copy at the bank’s head office.