Maintain ongoing awareness/knowledge of all applicable internal/external AML & CTF requirements and existing/emerging legal/statutory environment - identifying any issues that could impact bank.Provide AML advice and guidance to the other ECF staff members/ business & operations.Promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by any of the regulatory authorities and/or international bodies for breach of AML & CTF controls.
- Assist Manager in monitoring compliance to statutory regulations/guidance notes issued by the UAE Central Bank &/or other regulatory authorities.
- Must pro-actively and promptly escalate any critical issues to ensure that the bank is not investigated, charged, fined or publicly castigated by either UAE Central Bank or any other regulatory authority.
- Lead complex, proactive, intelligence-driven investigations, leveraging resources from across the Group to support investigations involving multiple geographies or financial crime typologies.
- Lead the Respective Teams in AML Unit in HO.
- Train and provide guidance to AML Unit including complex investigation team.
- Manage Team Productivity and meet the required target.
- Manage the available resources effectively by creating a well built and dynamic team.
- Manage complex investigations within AML Unit by providing guidance on complete quality analysis for the reviewed cases at the analysis stage.
- Highlight any key Financial Crimes risk throughout the review and analysis of customers’ account to the senior management in the form of Intelligence / Complex Investigation Reports.
- Support MLRO / Delegate for filing STR / SAR with the FIU
- Engage with First Line of Defense (Business Segments) and Auditors on matters related to financial crime risks, due diligence and customer relationship management
Responsibilities
- Implement AML monitoring procedures & controls. Introduce monitoring scenarios & parameters as appropriate; ensure all customer segments / products / activities are covered within the ambit of the monitoring process.
- Provide Head of AML & Sanctions with assurance that all controls required under AML & CTF regulations are embedded within the processes of the bank to avoid any breach and/or establishing relationship with a blacklisted party.
- Manage Regulatory inspections of the AML & CTF area. Act as a focal point to the examiners and facilitate trouble-free examination. Ensure implementation/regularization of recommendations, if any, within the agreed deadline(s). Keep HO Compliance updated with the progress.
- Maintain bank's AML & Customer Screening system at an optimum level keeping false hits/alerts volume at a reasonable level.
- Contribute to development of products, systems, policies and procedures, ensuring appropriate controls for AML & CTF compliance
- To handle and provide guidance on AML related queries which are more intricate in nature.
- Undertake periodic review or self-assessment of key controls to assess the quality and effectiveness. Conduct Compliance Monitoring periodically to ensure there is no lapse of AML & CTF requirements/policies. Report findings and submit recommendations for corrective action, if required.
- Conduct special investigations and/or respond to the Enhanced Due Diligence queries raised by law enforcement agencies and other overseas branches/correspondent banks. Provide feedback (accurate information) within the agreed timelines.
- Manage the AML team resources and create positive synergies amongst the team.
- Solid/Strong People Management skills are essential. Should be able to manage and control the resources within the team.
- Manage the available resources efficiently by creating a well-built and dynamic team.
- Evaluate, train and motivate business/operations staff to enhance their skills and knowledge of evolving AML & CTF regulation. Establish and maintain training programs for the unit and for business/ operations in line with latest regulations.
- Since the appointment of this role requires a notification for Central Bank 'Approval / No objection', it is the incumbent's responsibility to maintain a cordial working relationship with the Central Bank and also act as the focal point for UAECB National Anti-Money Laundering Agency (FIU).
Qualifications
- Graduate with 10-12 years of total banking experience, with at least 5 years of experience in AML Compliance area.
- An understanding of how transactions settle globally.
- Market knowledge of IT tools/ software used for AML monitoring system.
- Good knowledge and understanding of local AML/CFT rules and legislation, and international best-practices/requirements.
- ACAMS Certified/other recognized certification
- Organisational awareness including working knowledge or risks, products, processes and controls
- Computer literate with good knowledge of MS Excel and Business Object (BO) reports.
- Good command over spoken and written English.
- Good presentation skills.
- Efficient and logical approach to problem solving.
