Manager – Financial Crime Compliance

Accountability

Description

Client On-boarding

Review account opening/know your customer (KYC) documentation, conducting quality client due diligence, factoring Anti Money Laundering and Counter Terrorism Financing (AML/CFT) and sanctions risks, liaising with business units and vigilance and control team to ensure quality of KYC forms and documents

Document on-boarding decisions for reviewed clients, providing advisory for sanctions matches referred by operations and business units and provide sign off for account opening for increased risk and Politically Exposed Persons (PEP) customers to ensure compliance with regulatory requirements

Client Risk-Assessment

Conduct risk assessments and issue advisory/take decisions on new to bank account opening requests, making decisions on the risk assessment (increased, PEP, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements

Support line manager in developing scope of periodic and thematic reviews for existing clients, liaising with business unit to ensure the review is completed in a timely manner and is in line with regulatory requirements

Transactions Monitoring/Investigation

Review system generated alerts against customer data, investigating for potential money laundering/terrorist financing/sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious to ensure all required actions are taken

Update relevant Management Information Systems (MIS) to ensure accurate tracking and record keeping

Update internal watch-lists, identifying tainted/blacklisted names and monitoring that the required actions are taken in order to fulfil regulatory requirements and avoid penalties

Reporting, Tracking and Correspondence

Support the Group Money Laundering Reporting Officer (GMLRO) and Deputy MLRO by reviewing and finalising the Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR) drafted by the Investigation team to ensure accuracy of data reported

Maintain a track of actions communicated by the CBUAE Financial Intelligence Unit (FIU) to ensure all actions are followed through to completion

Support with addressing queries from CBUAE, FIU and correspondent banks relating to Money Laundering and Financing Terrorism (ML/FT) and sanctions matters, carry out freezing of funds and blocking of accounts, responding to and raising requests for information (RFIs) from other banks, RBS reporting, Bi-annual MLRO reporting and any other reporting requirements to ensure all actions are completed within agreed turaround times (TAT)

Customer De-Risking

Determine exit strategy for flagged customers, close accounts, reporting to CBUAE to ensure effective closure of accounts and to mitigate AML, KYC and sanctions risks

People Management

Manage self and team in line with ADCB’s people management policies, procedures, processes and practices to ensure adherence and to maximise own and employee contribution to business performance

Manage the effective achievement of the team’s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximise overall performance, engagement and motivation

Policies, Processes, Systems and Procedures

Recommend and implement improvements to departmental policies, procedures and processes covering all areas of activity so that all relevant procedural requirements are fulfilled while ensuring that ADCB delivers best-in-class services, products and innovation

Continuous Improvement

Identify opportunities to contribute to organisational and departmental change initiatives, programmes and projects taking into account best practice and standards in the business environment

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

EXPERIENCE, QUALIFICATIONS & COMPETENCIES

Minimum Experience

At least 6 years of experience in banking in compliance, branch or operations department.

Minimum Qualifications

Bachelor’s Degree in Finance, Accounting, Commerce or Business Administration

Knowledge and Skills

Microsoft Office Suite

Understanding of account opening and customer documentation

Knowledge of customer transactions and behaviours

Exposure to banking transactions

Understanding of local/International and Central Bank rules and regulatory requirements

Understanding of banking systems, reports and workflows

Proven team leader skills, experienced in supervising a team