The Compliance Organisation Unit is responsible for ensuring that the Bank complies with all relevant external laws and regulations applicable in the various jurisdictions that the Bank operates in Significantly this includes compliance with Sanctions Anti Money LaunderingAML and Counter Terrorist FinancingCTF requirements not only of the countries that the Bank operates in but increasingly there is an expectation of compliance with those of key US and EU regulatorsSupports the Group in meeting its regulatory requirements to reach targets in a compliant manner
Brief Description:
Working with the business to monitor and set appropriate policies procedures and processes to ensure compliance with regulatory requirements expectations and industry best practices
Providing official written and informal guidance and advice on Compliance matters to the respective businesses as and when requiredeg on a client product or transaction basis
Ensuring that appropriate training is given to all relevant staff on the Banks policies and procedures This includes the provision of training on key policies and procedures such as Sanctions AML and CTF
Undertaking periodic risk based Compliance Monitoring to ensure the Banks policies and procedures are being complied with and escalates to management significant noncompliance
Managing key Compliance systems such as Customer Screening Transaction Screening and AML Monitoring
Managing the alert investigation process arising from the key Compliance systems and making the necessary escalations to management and disclosures to the relevant authorities
Detailed Description:
Support the reporting line manager and team in the timely review of all new accounts being onboarded Assist in all the periodic reviews of existing accounts maintaining different reports for MI purposes follow up on any client documentation issues support in collating information for updating policies and guidelines and for maintaining files for record keeping Ensure prompt reporting on reviews is done Management of various MI reports and monthly reports administration of the KYC and documentation remediation project Collate key required information for reporting purposes and ensure timely and accurate submission Transaction monitoring backup when the designated person is out of office Provide support during all audits
Job Requirements:
Review all high risk accounts assigned for potential money laundering risks or concerns and provide accurate feedback approval to the concerned branch business unit within the agreed TAT
Review new account opening applications for PEP in line with Group PEP Policy and UAE Central Bank Guidelines Maintain a PEP register
Liaising with the relevant business units and other stake holders for completing the annual review of PEP relationships
Review and provide feedback to all RMA and Correspondent Banks Account Opening requests received from IIB unit within the agreed TAT
ReviewAssess and provide feedback to the WorldCheck referrals received from the business units on their customers information
Collate information from the AML Team members and provide an accurate MI to the AML Manager Head of Compliance as and when required
Additional Details:
Understanding of internal policies and procedures
Understanding of AML regulations
Understanding of UAE Central Bank regulations related to AML and Compliance
Knowledge and understanding of account opening documents and company formation documents
Knowledge and understanding of the organizations products and services including their legitimate uses and their laundering vulnerabilities
Analytical skills to recognize potential suspicious activity
Research skills being able to recognize and obtain quality information from diverse sources
Ability to communicate clearly and effectively both verbally and in writing
Confidence to make and justify decisions taken by AML Unit Group Compliance
Very strong team player
Committed to creating a continuous improvement culture within a team and organization
Interpersonal abilities to present a businessfriendly image to all internal and external stakeholders
Good team work skills to establish and maintain effective business relationship with key stakeholders
Prior experience of 2 years in an AML Compliance role or a Risk function in a bank or other financial services regulatory body
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