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Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) Roles and Responsibilities within UAB Bank

The following roles and responsibilities outline the key positions involved in ensuring Anti-Money Laundering (AML) and Counter-Terrorist Financing (CFT) compliance within the UAB Bank.

Chief Compliance Officer (CO)

• Develops, implements, and monitors AML/CFT policies and procedures.
• Reports to the Board Risk Committee and provides updates on AML/CFT status.
• Trains staff on AML/CFT knowledge and best practices.

Branch Compliance Officers (BCO)

• Responsible for implementing AML/CFT policies and procedures in their respective branches.
• Ensure Customer Due Diligence (CDD) and Enhanced CDD are followed for high-risk customers.
• Report suspicious transactions to the CO/ACO.

Other Key Roles and Responsibilities

Director-Finance

• Ensures proper implementation, control, monitoring, and reporting of AML/CFT operations.

Director-Operations

• Ensures proper implementation of AML/CFT policies, procedures, and regulations.
• Instructs branches to comply with AML/CFT policies and procedures.

Business Directors, Zone Heads, and Head of Departments

• Responsible for ensuring AML/CFT compliance within their departments/ zones/units.

Branch Manager

• Ensures all customers’ onboarding processes follow prescribed AML/CFT practices.
• Monitors high-value and high-risk transactions, detects suspicious activities, and reports them to the CO/ACO.

Support Departments

Information Technology Department (IT)

• Provides necessary data and support to the AML and CFT Unit.

Internal Audit Department

• Independently reviews compliance with AML/CFT policies and procedures.

Human Resource Department (HRD)

• Screens staff from an AML perspective before recruitment.
• Ensures due diligence of all employees is updated regularly.