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  Senior Manager-Managed Banks Division
 
  Company Type: International Banking
  Location: Nassau, Bahamas
  Compensation: Attractive base salary & bonus, housing & car
  Languages: Fluent English/Spanish, Portuguese a plus
  Job Code: mk/1133
  Date Posted: Completed
  Description:
  THE OPPORTUNITY
  • Our client is a closely held private financial services Group. Group companies are principally domiciled in The Bahamas, and are regulated by the Central Bank of The Bahamas. Clients are predominantly based throughout Latin America.
  • Since inception, services to financial institutions and banks has represented a core business of our client. The Company has advised its clients on establishment, prepared and processed license applications, and undertaken the responsibilities of the authorized agents in addition to providing full back-office (including accounting) and domiciliary services.
  • The current circumstances of change and the evolution of new regulatory legislation in the financial services sector in The Bahamas, and the banking sector in particular, are creating considerable opportunities to expand the scope of The Company's products and services to institutional customers. Given the opportunity, our client has decided to create a new division of the Company, which will be dedicated to the design, setting-up, provision and delivery of its services to its institutional customers. At the same time, The Company plans to expand the scope of its own banking services, taking advantage of the consolidation underway in the international financial services sector in general.
  • NOTE: - There are no income taxes in The Bahamas. Salary and bonuses are paid tax free. A US taxpayer can also take advantage of the tax exemptions available when working abroad. Currently the first $78,000 of earned income are tax exempt. Next year that amount rises to $80,000.
THE DESCRIPTION
  • Working closely with the Chairman and the General Managers, to begin with, the Senior Manager will:
    • draw up a business plan for the new Managed Bank Division
    • help finalize proposals to customers where they remain outstanding
    • prepare and assist with customers written game plan for the establishment of their physical presence in compliance with requirements to be submitted to the Central Bank for approval
  • Implement and maintain in compliance with the pertinent regulations all KYC and other due diligence files and information for each bank customer.
  • Implement and maintain all accounting and financial records for each bank customer.
  • Develop and implement systems and procedures with each bank client for the purposes of establishing communications and reporting.
  • Create compliance systems and procedures by which The Company can be assured that it is adequately covering its obligations and responsibilities as Compliance and Money Laundering Reporting Officer of each of its bank customers.
  • In general be responsible for the smooth running and delivery of The Company's services to its managed bank customers on a day-to-day basis.
  Requirements:
 
  • Candidates should have at least 10 years experience in areas of back-office administration in major international banks.
  • Detailed knowledge of the current regulatory requirements under which banks must operate, both from KYC and money laundering perspectives.
  • Exposure to banking in Latin America and/or to provision of banking services to Latin American customers will be useful.
  • Candidates must speak fluent Spanish and be comfortable undertaking their role and responsibilities in Spanish. Similarly, fluency in Portuguese will be useful.


  Cover Letter: Please include cover letter with salary requirements when responding.

  Work Authorization: Must have legal residency.
  For consideration include resume as a Microsoft Word attachment or as text and submit to Margaret Kurtzman and reference the job title and reference number.
 
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Last modified November 8th, 2000