JOB SUMMARY / INTRODUCTION
In accordance with UAE and international Anti-Money Laundering Requirements, banks such as FAB are obliged to perform Know-Your-Client ('KYC') reviews on all new clients they adopt and periodic reviews of these clients.
To perform duties as required in the KYC & Onboarding FI function. The centralized team will perform the client Onboarding “approval” role. This can be either new on-boarding, trigger events or periodic reviews. It will ensure the documentary evidence meets internal guidelines and regulatory expectations. Additionally, adherence to Group KYC standards need to be enforced.
KEY RESPONSIBILITIES
- Manage approval process for New to Bank Client Onboarding Process along with Periodic & Trigger Reviews in liaison with all stake holders. Ensure all clients are onboarded within the onboarding timelines agreed. Main stakeholders are Clients, Coverage Bankers ( Region / Global ) , KYC Operations Team, Compliance, Offshore Support Team.
- Proven business and operational experience with sound knowledge of the wide range and complex variety of Funds, Brokers, Money Services Business, Loans & Agencies, Non- Banking Financial Institutions and Correspondent Banks.
- Review account opening forms /MT 199 or 299 swift message for all new business where applicable.
- Be aware of the strategic clients and their longer-term requirements by engaging with the Coverage Bankers when they undertake the Business Case and client selection process.
- Always ensure adherence to all internal policies / procedures and external regulatory requirements.
Previous experience on handing post facto transaction review for all correspondent banking clients and knowledge of key principals like Nesting & Downstream activities will be an added advantage. - Perform independent analysis of high-risk factors and as an outcome of key risk indicators escalate the relevant case to Financial Crime Compliance teams (FCC).
- Prioritization – maintain the discipline in partnership with the local business. Communicate consistency to internal and external stakeholders to ensure that the cases are accepted through the approved channels and expectations are managed appropriately.
Review questionnaires such as Wolfsberg, AML & Sanctions appropriately.
Relationship Management
- Develop and manage relationships with Corporate and Investment Banking stakeholders across business lines and supporting functions.
- Undertake strong support and communication with both internal & external clients to facilitate efficient client on boarding & off boarding.
Deliver fair outcomes of our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
Reporting
- Ensure information for MI related to Corporate and Investment Banking segment, for On-boarding & KYC is prepared and presented on a periodic basis.
- Ensure exceptions are updated in CDD Exception tracker and tracked to resolution. Tracker to be circulated to relevant stake holders on monthly basis.
- Monitor monthly KYC KRI /KPI reports.
Interact with other stakeholders and help the KYC teams achieve KIR’s / KPI’s.
REQUIREMENTS / QUALIFICATIONS
Minimum Qualification
- Bachelor’s degree or higher in management, banking, finance.
- Preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management ( will be added advantage).
- Minimum of 5 years of experience in a reputable international bank.
- Minimum of 5 years of experience within an On-boarding, KYC or Compliance function.
- Relevant experience (AML/KYC/compliance related) with understanding of financial institutions KYC requirements.
- Familiarity with AML/KYC regulations and industry guidelines, along with client structure and hierarchies, knowledge of Funds, Brokers, Loan Agencies & Correspondent Banks.
- with operating in a global regulatory environment.
- Microsoft application knowledge.
Pro-active and business oriented with proven ability to prioritize, manage conflicting demands and ability to assess.
Preferred / Beneficial
- Preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management ( will be added advantage).
- Previous experience on handing post facto transaction review for all correspondent banking clients and knowledge of key principals like Nesting &
- Downstream activities will be an added advantage.
- Skills
- KYC
- AML
- CFT
- Compliance
- Financial Crime
- Risk Management
- Client Onboarding
- Periodic Reviews
- Trigger Reviews
- Financial Institutions KYC Requirements
- Wolfsberg Questionnaires
- AML & Sanctions Reviews
- Correspondent Banking
- Funds
- Brokers
- Money Services Business
- Loans & Agencies
- Non-Banking Financial Institutions
- Regulatory Compliance
- Financial Crime Compliance (FCC)
- Stakeholder Management
- Relationship Management
- MI Reporting
- KRI / KPI Monitoring
- Microsoft Applications
- Client Structure and Hierarchies
- Global Regulatory Environment
- Prioritization
- Risk Assessment
- Communication
- Operational Support
