Sanctions Manager

No.

Accountability

Description

1.

Client On-boarding Sanctions reviews

To receive and review account opening/know your customer (KYC) escalations related to potential sanctions risks.

Work with applicable business units including vigilance and control teams to ensure appropriate information sourcing and risk identification.

Document decisions for reviewed clients and provide advisory for sanctions risks referred by various business units and provide final approvals for all escalated cases.

2.

Sanctions Investigations & Reviews

Investigate for potential sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious.

Ensure the update of relevant MIS to ensure accurate tracking and record keeping,

Identify and mitigate sanctions risks by taking decisions on the applicable high risk sanctions cases, update internal watch-lists, and ensure required actions are taken in as per the applicable SOP and regulatory requirement.

Regulatory GAP Assessments

Communication and awareness of sanctions events, changes and prohibitions by way of MEMO or Circulars

3.

External Correspondence and Reporting

Review and report on approved suspicious transaction reports (STRs),

Action and submit responses to UAE Central Bank on STRs, PNMR, HRC and other applicable reports.

Assist with addressing queries from corresponding banks relating to sanctions risks.

Ensure freezing of funds and blocking of accounts upon the identification of sanctions risks and subsequent approval from the line manager.

Respond to and raise requests for information (RFIs) from other banks on sanctions risks in order to identify and mitigate risk.  

4.

Customer De-Risking

Identify, freeze and exit customer relationships in line with defined Policy, SOP and regulatory requirements. Identify reporting requirements and sure submission and completion of these requirements.

Ensure the update of the appropriate MIS to ensure effective tracking and monitoring of all exited and or frozen accounts.

5.

Compliance Systems

Ensure the operational health of all screening systems

Maintain all required documentation for screening systems including external assessments and audits

Ensure the of review of key changes including impact assessments such as rules, exceptions and threshold changes to ensure adequate sanctions screening efficiency and effectiveness

Ensuring the gathering, review and completion of all required MI in order to meet periodic reporting requirements

Maintain all formal communication and documentation with IT support teams

Change management

6.

Compliance Project Support

Support and/or manage projects arising out of changes in regulations in order to ensure remedial actions are completed to fulfil regulatory requirements

7.

Advice and Guidance

Act as a subject matter expert to bank employees, providing guidance advice on all sanctions related cases including what actions to take when dealing with high risk accounts and transactions.

Ensure up to date knowledge and awareness of all sanctions policies and procedures including training materials.

Proactive monitoring of high risk geopolitical events and conflicts. (Targeted reviews / research and assessments may include, UNSC Panel of Experts reports, Dual Use Goods typologies, Gold and precious metals from Conflict regions etc.)

8.

Self-Management

Ensure effective time management in line with the bank’s people management policies, procedures, processes and practices to ensure adherence and to maximise own contribution to business performance.

9.

Customer Service

Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank’s required levels of service in all internal and external customer interactions

Minimum Experience

At least 6-8 years of experience in Sanctions compliance, exposure to Financial Crime or AML is beneficial.

Minimum Qualifications

Bachelor’s Degree in Commerce or Business Administration

Professional Qualifications

Qualifications from ACAMS, ACSS is required

Knowledge and Skills

Microsoft Office (Word, Excel, Outlook and PowerPoint)

Understanding of account opening and customer documentation

Knowledge of customer transactions and behaviours

Excellent understanding of banking transactions

Understanding of local/International and Central Bank rules and regulatory requirements specific to Sanctions.

Understanding of banking systems, reports and workflows

Excellent Geographical knowledge and understanding

Is able to compile, interpret and present reports pertaining to Sanctions risk and geopolitical risk events including providing solutions, key metrics and outcomes.

Is able to adapt to and manage change on a consistent basis.