JOB PURPOSE:
To implement and manage the Financial Crime compliance program of the bank to ensure the bank meets local regulatory requirements and industry best practice standards relating to Anti-money Laundering, (AML) , Combatting Terrorist Financing (CTF), Know Your Customer (KYC) and Sanctions.. As a senior member of the team, the role also entails managing, mentoring, guiding and supporting the compliance staff in the team in general and specifically any direct reporting staff. The incumbent will also be the de facto deputy to the Head of Compliance and be responsible for managing the compliance function in the absence of the Head of Compliance.
Reports directly to:
Head of Compliance
Duties and Responsibilities:
a) Implementing an effective Financial Crime Compliance programme (FCC programme) covering AML, KYC, CTF and Sanctions.
b) Reviewing the existing compliance policies, process, procedures and controls pertaining to customer onboarding, remittance reviews, AML transaction monitoring and suspicious transaction reporting to identify any gaps and address these to meet regulatory and best practice requirements.
c) Ensuring AML, KYC, CTF and Sanctions processes and controls are properly documented, including Standard Operating Procedures, Policies and Guidelines.
d) Identifying, developing and maintaining policies and procedures as may be required for strengthening the FCC framework.
e) Reviewing the AML, KYC, CTF and Sanctions systems in place, identifying areas for improvement and assisting with any system changes required, including identifying and implementing new systems where applicable.
f) Ongoing monitoring of the FCC programme to identify areas of AML, KYC, CTF and Sanctions weakness or concern.
g) Providing guidance and advice to the bank’s management and staff on AML, KYC, CTF and Sanctions requirements.
h) Assisting and advising stakeholders during product programmes, customer onboarding and transaction reviews on AML, KYC, CTF and Sanctions related requirements to ensure compliance with local regulatory requirements and industry best practice.
i) Ensuring the necessary level of understanding and awareness of AML, KYC, CTF and Sanctions amongst management and staff by ensuring training on AML, KYC, CTF and Sanctions.
j) Providing guidance and support to compliance staff around regulatory requirements and
Job Description
Senior Manager FCC – Jan 2016
best practice associated with customer onboarding, remittance reviews, AML transaction monitoring and suspicious transaction reporting to ensure that compliance risks are properly identified, mitigated and reported.
k) Investigating alleged violations of AML, KYC, CTF and Sanctions rules, regulations, policies and procedures.
l) Assisting with regulatory queries, inspections and requests to ensure these are managed effectively and professionally to maintain strong and healthy regulatory relationships.
m) Developing FCC Management Information, Reports, Trends Analysis and Typologies to identify and anticipate areas of concern in AML, KYC, CTF and Sanctions as well as to keep management informed so as to ensure effective decision-making to properly address the risks.
n) Assisting other departments to direct compliance issues to appropriate existing channels for investigation and resolution.
o) Developing, coaching and mentoring compliance staff on AML, KYC, CTF and Sanctions matters to ensure that personnel are properly trained and equipped to undertake their jobs.
p) Perform any other duties or responsibilities consistent with the role as assigned by management.
Independence of Operation:
Works under guidelines and instructions of the line manager and initiates timely action. Executes tasks according to identified priorities by his/her direct manager.
Accountability / Decision Making:
Takes ownership for all FCC related matters, including policy, advisory, monitoring and reporting related requirements as well as managing FCC staff, Presents material findings with written commentary where it would be necessary; all concerned are advised of corrective action.
website: http://www.cbiuae.com
Phone: 04 4023000
email:
UAE