About the Role
As a leader in the business banking team, you will oversee operations within Business Banking Compliance. Your primary responsibilities include managing digital transformation initiatives, ensuring regulatory adherence, and conducting quality checks for deliverables across compliance squads. You will play a pivotal role in enhancing compliance effectiveness and efficiency while maintaining strong relationships with stakeholders.
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Key Responsibilities
- Lead the business banking team and oversee the squad's operations within Business Banking Compliance.
- Act as the compliance single point of contact for digitization and automation initiatives in coordination with Business and Compliance Digital Studio and Innovation units.
- Conduct quality checks for key deliverables across all Retail Banking Group compliance squads, ensuring adherence to regulatory standards and internal policies.
- Disseminate and ensure adherence to strategic guidance while driving digital transformation initiatives.
- Stay updated on all applicable regulatory guidelines.
- Support the implementation of initiatives in compliance as assigned by the Unit head.
- Conduct quality checks for auto discounting related to Ename & L1/L2 High-Risk Nationality for entities and individuals.
- Centralize and manage incidents that need assessment based on CPR Standards, escalating as necessary to senior management/RCU for reporting.
Key Result Areas
- Maintain awareness of regulatory expectations and bank policies and standards.
- Ensure unit procedures align with regulations and bank policies.
- Foster cordial relationships with stakeholders for timely identification and resolution of gaps to regulatory requirements.
- Conduct training for Compliance and relevant stakeholders in accordance with annual training plans.
- Provide advisory services on name screening matches and enhanced due diligence (EDD) for high-risk business accounts.
- Analyze compliance reports related to high-risk reviews and name screening for senior management updates on trends.
- Respond to audit queries and represent compliance in ad hoc projects.
- Conduct quality assurance checks for the Retail Compliance team and lead/manage the compliance team, providing mentorship and performance oversight.
- Drive digital transformation initiatives including automation, AI integration, and dashboard development.
- Represent compliance in strategic cross-functional meetings and projects.
- Flag and escalate any high-risk nationality L1/L2 alerts where compliance with discounting guidelines may be lacking.
- Ensure adherence to Consumer Protection Regulation requirements in incident reporting.
- Maintain records and audit trails of all incidents, assessments, and regulatory communications.
Operating Environment and Working Relationships
- Operate within a strictly regulated environment requiring in-depth knowledge of applicable regulations, systems, and market trends.
- Work within the framework of regulatory guidelines, bank policies, standard operating procedures, and best market practices while ensuring efficient and effective processes with necessary monitoring and controls.
- Maintain a cordial and professional rapport with all relevant stakeholders.
Problem Solving
- Evaluate high-risk referrals and PEP relationships.
- Contribute to product, system, and policy development in line with regulatory expectations.
- Identify and escalate deviations to line manager/unit head where applicable.
- Address challenges related to unit automation and digitization initiatives.
- Strategically assess compliance risks and propose mitigation measures.
Decision Making Authority & Responsibilities
- Interact with relevant stakeholders to decide on high-risk/name screening referrals in the onboarding and KYC processes, ensuring full compliance.
- Contribute to the development of products, system enhancements, policies, and procedures, ensuring appropriate controls are in place.
- Identify, report, and assist senior management in timely issue identification for swift resolution.
- Support management in enhancing processes related to onboarding, KYC, and advisory.
Knowledge, Skills, and Experience
- Graduate with 7–10 years of experience in banking, specifically KYC/EDD for business/corporate clients.
- Strong communication skills with knowledge of UAE regulations.
- Proficient in Excel, with strong presentation skills and familiarity with AI tools.
- Excellent logical problem-solving and decision-making abilities.
- Experience coordinating and supporting compliance processes and system solutions.
- Proven leadership and team management experience.
- Experience implementing digital transformation initiatives in compliance.
