Department :- Compliance Department
Location :- Sharjah, UAE
Email :- hr@staffconnect.ae
Whats App :- +971 529421270
Job Summary
To undertake post facto AML transaction monitoring in line with Banking Compliance requirements, UAE regulations and international best practice to identify any suspicions. To investigate suspicious transactions and report these as may be required
Duties and Responsibilities
1) Monitoring and Reviews
- Daily reviewing of all transactions generated by the AML monitoring system.
- Investigating the alerts pertaining to transactions which are suspicious/unclear/doubtful.
- Generating queries to the RM/Branches to provide the full KYC information and details/justifications/supporting documents of suspicious high value transactions.
- Undertaking regular reviews and analysis of alerts, STRs and MIs to identify any trends / typologies requiring actions to be taken to strengthen the AML monitoring controls and suggesting possible mitigation controls
- Performing periodic analysis of the customers’ accounts to identify any suspicions and investigate whether there are any suspicions to report.
- Where suspicions are identified and investigated and where reporting is required, preparing a Suspicious Transaction Report, submitting it to unit manager / DMLRO for review before escalating to the MLRO for approval
- When the STR is revised and final approval is obtained, reporting the same on the CBUAE STR system.
- Ensuring appropriate action and follow up until satisfactory closure to address CBUAE comments/requirements.
- Undertake the required investigations to respond to the Central Bank Enhanced Due Diligence Requests.
- Assisting and guiding any Officers in the department with AML investigations and customer/transactions reviews
- Providing feedback to any Officers in the department regarding the quality of case work performed while ensuring adherence to internal procedures
- Undertaking tasks as may be required by the line manager or his/her Seniors.
2) Management Information and Reporting
- Maintaining appropriate MIS (daily, monthly, quarterly, annually) of alerts, investigations and STR.
- Ensuring proper update of relevant MIS and frequent reconciliation as well as necessary follow-ups on pending items
- Ensuring proper reporting of violations of the relevant AML regulations of the Central Bank.
3) Systems and Technology
- Assisting in reviewing of the available AML / CTF systems and ensuring proper follow up with IT for any identified gaps or on any ongoing projects
- Advising on enhancements of the existing systems or on introducing new technologies
4) Independence of Operation
- Works under guidelines and instructions of the line manager and initiate timely action. Execute tasks according to identified priorities by his/her direct manager.
5) Accountability / Decision Making
- Investigates suspicions, prepares reports and presents material findings with written commentary where it would be necessary. Management and stakeholders are advised of concerns, and corrective action is taken as required. Presents input and suggestions for improvement of Compliance AML policies and procedures.
- When ordinarily carrying out his/ her duties each employee must be extremely vigilant and follow the applicable Bank policies which include, but are not limited to, management of bribery-corruption risk, conflicts of interest, market abuse, and more generally, ethical conduct as described in Bank’s Code of Conduct and Ethics (as amended)”.
6) Communications and Working Relationships Communication with
- Internal Stakeholders (Relationship owners, operations and management) – Highlighting AML concerns, obtaining required information, recommending actions, Mitigating risks
- Sr. Manager AML & Innovation / VP – Head of Financial Crime Compliance – Accountable subject matter expert on investigations highlighting typologies and trends, providing feedback on progress, recommending actions, escalating concerns.
- Central Bank/ Government Agencies/ Customers External – Submission of STR and follow up on any action required. Undertaking prescribed regulatory Enhanced Due Diligence Requests as and when needed.
Required Skills & Qualifications
- Tertiary education with a Bachelor’s degree as a minimum
- Mandatory Compliance qualification or certification mainly CAMS, CFCS certification or any other relevant AML/ Compliance qualifications from an internationally recognized body is a plus
- Minimum 5 years’ experience in a banking / financial institution environment of which 3 years’ experience should have been in AML Investigations or similar department
- In depth knowledge of CB UAE and other related AML / CTF regulations
- Analytical, investigative, problem solving and decision-making skills
- Attention to details
- Independent and self-starter
- Organizing skills
- Strong team player
- Good written and oral communication skills
- Good time management skills and adherence to deadlines