About the Role
This position involves assisting the Manager in ensuring compliance with statutory regulations and guidance issued by the UAE Central Bank and other regulatory authorities. It requires proactive measures to escalate critical issues to prevent any investigations, charges, or fines against the bank. The role encompasses a wide range of responsibilities, including managing AML unit activities, overseeing case management, and training team members. Strong knowledge of AML regulations and risk management is essential, along with excellent communication and analytical skills.
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Responsibilities
- Assist the Manager in monitoring compliance with statutory regulations/guidance from the UAE Central Bank and other regulatory authorities.
- Pro-actively escalate critical compliance issues to avoid scrutiny from the UAE Central Bank or other authorities.
- Review, assess, and oversee freeze, unfreeze, confiscation, search requests, and other regulatory/LEA cases received through IEMS, CIR/CBR, goAML, and relevant channels, ensuring timely handling in accordance with the AML-RRU SOP.
- Oversee end-to-end case management, including quality review, completeness of responses, appropriate escalation, and timely submission to regulatory authorities and LEAs.
- Train and provide guidance to the AML Unit, including the complex investigations team.
- Manage team productivity and meet required targets.
- Optimize team resource management to create a dynamic work environment.
- Manage complex investigations within the AML Unit, ensuring quality analysis of reviewed cases.
- Report any key Financial Crimes risks identified during customer account reviews to senior management in the form of Intelligence/Complex Investigation Reports.
- Support the MLRO/Delegate in filing STR/SAR reports with the Financial Intelligence Unit (FIU).
- Engage with the First Line of Defense (Business Segments) and auditors on financial crime risks, due diligence, and customer relationship management.
- Implement AML monitoring procedures and controls, ensuring comprehensive monitoring across customer segments, products, and activities.
- Provide assurance to the Head of AML & Sanctions that all necessary AML controls are embedded within banking processes.
- Manage regulatory inspections of AML & CTF areas, ensuring a smooth examination process and timely implementation of recommendations.
- Maintain the bank's AML & Customer Screening system, managing false hits and alerts effectively.
- Contribute to the development of products, systems, policies, and procedures ensuring compliance with AML & CTF controls.
- Handle and provide guidance on intricate AML-related queries.
- Conduct periodic reviews and self-assessments of key controls, reporting findings and recommendations.
- Conduct special investigations and respond to Enhanced Due Diligence queries from law enforcement agencies.
- Create positive synergies and develop the AML team, focusing on resource efficiency and training.
- Maintain a cordial working relationship with the Central Bank and act as a focal point for the UAECB National Anti-Money Laundering Agency (FIU).
Qualifications
- Graduate with 10-12 years of total banking experience, including at least 5 years in AML Compliance.
- Understanding of global transaction settlement processes.
- Market knowledge of IT tools/software used for AML monitoring systems.
- Strong understanding of local AML/CFT rules, legislation, and international best practices.
- CAMS Certified or other recognized certification is a plus.
- Organizational awareness of risks, products, processes, and controls.
- Proficient in MS Excel and Business Object (BO) reports.
- Excellent command of spoken and written English.
- Strong presentation skills with an efficient approach to problem-solving.
