Assistant Manager - Financial Crime Compliance

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About the business area, Group Compliance & Governance:

Compliance is an independent function at ADCB which takes an active approach to risk management and monitoring, ensuring the Bank complies with applicable laws, regulations, rules and market standards. The Group creates, implements and monitors policies and procedures designed to prevent or detect financial crime and any compliance breaches of the Bank, its employees and clients. It also monitors and measures the impact of conduct risk and compliance on the Bank’s risk appetite and profile.

In this role, your key responsibilities include:

• Ensure account opening/Know Your Customer (KYC) documentation is correct and up-to-date, conduct quality client due diligence factoring Anti Money Laundering/Combatting the Financing of Terrorism (AML/CFT) and sanctions risks, liaise with business units and vigilance and control team to ensure quality of KYC forms and documents.
• Document on-boarding decisions for reviewed clients, provide 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
• Conduct risk assessments on reviewed clients, issue advisory/take decisions on new-to-Bank account opening requests, make decisions on the risk assessment (increased, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements
• Review system generated alerts against customer data, investigate for potential money laundering/terrorist financing/sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious, update relevant Management Information System (MIS) to ensure accurate tracking and record keeping, update internal watch-lists, identify tainted/blacklisted names and carry out required actions in order to fulfil regulatory requirements and avoid penalties
• Contribute to reports on Money Laundering Reporting Officer (MLRO)/Deputy MLRO approved Suspicious Transaction Reports (STRs), action and submit responses to CBUAE on STRs, assist with addressing queries from corresponding Banks relating to money laundering and sanctions matters, carry out freezing of funds and blocking of accounts, respond to Requests for Information (RFIs) from other Banks on anti-money laundering and sanctions in order to fulfil regulatory requirements and avoid penalties
• Close accounts, contribute to reports to CBUAE and update MIS to ensure effective closure of accounts and to mitigate anti money laundering, KYC and sanctions risks in the organization
• Implement outcomes for parameter changes in the client on-boarding, AML and sanctions systems, conduct testing for automated solutions, assist in identifying potential weaknesses in processes and systems and manage necessary fixes to ensure system is working effectively
• Support projects arising out of changes in regulations in order to ensure remedial actions are completed and fulfil regulatory requirements
• Provide guidance to employees on what actions to take when dealing with high risk accounts and transactions, make recommendations to the formulation of internal policies, procedures and training materials to support compliance with regulatory requirements
• Adhere to all relevant organisational and departmental policies, processes, standard operating procedures and instructions so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to customers and stakeholders

The ideal candidate should have the following experience

• At least 4 years of experience in Banking in Compliance, Branch or Operations
• Bachelor’s Degree in Finance, Accounting, Commerce or Business Administration
• Microsoft Office (Word, Excel and PowerPoint)
• 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

What we offer:

• Competitive Salary & Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.
• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-learning catalog, on-the-job training, and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.