About the Role
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In this position, you will be responsible for interpreting domestic and international sanctions, including those imposed by the UAE, US, UK, EU, and UN, to ensure compliance with the regulatory requirements that impact the company and its branches or subsidiaries. You will conduct investigations of complex and high-risk sanctions alerts and ensure adherence to the Group Sanctions Policy, providing subject matter expertise to mitigate risks associated with sanctioned entities and transactions.
You will support the senior Compliance Manager in identifying sanctions risk themes and trends, enhance the company's sanctions risk management capabilities, and provide training to Compliance staff on sanctions regulations and screening systems. You will also interact closely with business units regarding the resolution of alerts and client information.
Responsibilities
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Sanctions Compliance:
- Ensure that Payment Screening and Customer Screening programs are running effectively in line with the company's AML & KYC Policy and regulatory requirements.
- Maintain/update the company's private blacklists in the payment screening system.
- Review sanctions referrals received from Operations/Business on customer payments and trade transactions and provide decisions in line with the company's AML & KYC policy and various international sanctions programs.
- Review and mitigate sanctions risk associated with the company's correspondent banking business.
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AML Monitoring:
- Ensure effective AML monitoring covering all relevant accounts/products/activities in line with the company's policy and regulatory guidelines.
- Conduct AML reviews of customer accounts based on AML alerts and analytical reports generated by your unit.
- Conduct money laundering-related investigations by analyzing customer transactions/trends, drawing conclusions, and drafting Suspicious Activity Reports for submission to the Financial Intelligence Unit (FIU).
- Support business/operations by providing compliant solutions to regulatory requirements and intervening when necessary to stop a transaction/business proposal, seeking guidance from the Compliance Manager.
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Review of Compliance Systems:
- Review and recommend changes in compliance systems parameters, such as the AML Monitoring System and Payment Screening System of the company.
- Coordinate closely with Technology and vendors to ensure optimal system operations and conduct regular testing.
- Participate actively in applications, systems, and product development, providing value-added recommendations for compliance controls.
- Conduct regular tests on compliance systems, escalate critical issues, and recommend solutions.
- Ensure timely handling of all statutory reports and requests for information from regulators.
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Analytical Reporting and Data Integration:
- Devise and generate various analytical reports for enhanced AML monitoring of customer accounts and produce statistical reports using data mining applications from the company's data warehouse.
- Highlight risks and failures in existing systems/processes and advise on strategies to mitigate them.
- Ensure data integration with different back-office systems to enhance the monitoring process and respond to regulatory requests.
- Conduct recurring data analysis to project new scenarios and methodologies that complement existing monitoring processes.
Qualifications
- Graduate with 5-7 years of banking, AML, and sanctions systems experience.
- Strong knowledge of local AML/CFT legislation and international best practices in compliance.
- Familiarity with international and UN sanctions.
- Systems expert with advanced knowledge of MS Excel and Business Object (BO) reports, as well as banking systems.
- Computer literacy with a good command of spoken and written English.
- Excellent presentation skills and a logical approach to problem-solving.
- A proactive approach to complex issues and a clear understanding of the relevant business and operations processes that support sanctions screening.
Benefits
- Competitive salary and comprehensive benefits package.
- Opportunity for professional development and training.
- Engaging work environment with collaborative teams.
- Commitment to maintaining effective working relationships with business operations and other compliance functions.
Contract and Travel Details
- Full-time position with occasional requirements for overtime based on project needs.
- Travel may be required for training or compliance oversight activities in different branches.
