About the Job
Responsible for executing a robust Anti Money Laundering Program for the company ensuring adherence to the policies and procedures of the company to confirm compliance with Regulatory guidelines with regard to Anti Money Laundering directives of UAECB. Responsibilities include timely review of alerts from the offshore team, investigating customers suspected of laundering money, preparing ISTRs, placing restrictions on customer accounts, and sending RFIs to other FI (correspondent Banks) where transactions are suspected of money laundering.
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Job Specific Accountabilities & Strategic Contribution
- Responsible for owning a segment for their AML alerts and investigations.
- Ensuring timely review of all alerts and investigations as per CB UAE guidelines.
- Responsible for filing STR (Suspicious Transaction Reports) with Group MLRO before they are sent to CBUAE.
- Management of correspondent banking alerts and working with FI partners of the company with queries.
- Authorizing restrictions on the customer account where money laundering concerns are suspected and recommending client exits if required.
- Testing and providing feedback on new scenarios, threshold limits, and undertaking an impact assessment.
- Supporting CB UAE audits and process walkthroughs.
- Training resources with new scenarios and emerging typologies.
- Review periodic circulars issued by the Central Bank and make amendments to procedures and controls to align with the regulatory environment.
- Active collaboration with business to manage client experience while handling AML queries and other control environments.
- Stay abreast with the control environment, control appropriateness and effectiveness, and control testing tools and techniques available within the company.
- Work with technology in measuring the appropriateness and screening capabilities of product platforms with the Surveillance systems of the company.
- Identifying automation and tuning opportunities in the business unit to bring efficiency.
- Effectively contribute to define the training and competency framework for the AML Teams Onshore/Offshore.
- Effectively manage and supervise the team by defining team's objectives to maximize performance.
- Identify resource requirements to efficiently manage the FLOD Surveillance Teams ensuring the right set of skills and knowledge are maintained within the team.
- Team development, performance management, and consequence management for repeat failures.
- Act as a role model to direct and indirect reports to drive adherence to organizational values and ethics and foster a value-driven culture within the company.
- Identify opportunities to tune the screening engine to reduce false positives in the business balancing risk and efficiency.
- Support BRD development for changes, creation of CR and UAT testing.
- Recommend, initiate, and implement optimizations to screening methodologies and parameters to maximize cost efficiency and effectiveness of the company's regulatory compliance.
- Work closely with the Technology, Data & Reporting Team on KPI’s and KRIs for reporting to senior management.
Minimum Qualification
- Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, transaction monitoring/sanctions screening, KYC/AML/CFT, financial crime, or risk management.
- ACAMS certification.
Technical Competencies/Experience
- Minimum of 8-12 years of experience in a reputed bank with a minimum of 5 years of experience in AML/Group Compliance function.
- Excellent communications skills, written and spoken.
- Experience in handling large teams across different locations.
- Positive and enthusiastic attitude.
- Excellent interpersonal and managerial skills.
