Designation : Associate Director Compliance
Reporting to : Head of Compliance
Job Purpose :
- To develop and manage the Anti-Money Laundering (AML) framework and provide AML regulatory advisory services to ensure awareness and adherence to the AML requirements and proper identification and mitigation of for the bank.
- Oversee the assignment of AML transactions monitoring alerts and supervise the review, referral and/or escalation of suspicious cases to the AML investigations unit to support the end-to-end management of the AML process for the bank.
- Manage the end to end compilation and submission of STR reports to Central Bank to ensure that the process is executed correctly .
- Act as an interface between the bank and external regulators and law enforcement on customer related enquiries/investigations and provide information (such as customer account and transaction information, files and documentation) in order to respond to requests for information
- Prepare periodic MIS reports and reports for the UAE Central Bank (CB) on Iran-related transactions to ensure compliance with regulatory requirements ➢ Manage external communication with CB and/or correspondent banks to ensure timely responses are provided
- Investigate and report suspicious activity and transaction cases that have been referred by peers or external/internal stakeholders to ensure end-to-end management and escalation of the AML process for the bank. Identify sanctions deficiencies, provide sanctions advise and monitor integrity of sanctions lists in payment and screening systems to ensure compliance with regulatory requirements and mitigate sanctions risk for the bank.
- Review customer accounts/account opening documentation for irregularities/anomalies related to AML/CFT to ensure Suspicious Transactions (STR) with valid justifications are reported to the Central Bank
- Investigate suspicious cases referred by the AML Monitoring unit and cases raised by other external/internal stakeholders, with relevant justifications in order to ensure escalation of the AML process as required and support the reporting of such suspicious cases to the Central Bank
- Review and produce periodic reports and other Master Information Systems maintained by the department, as required, to support the MLRO and Deputy MLRO.
5 to 10 years of experience in Compliance ,client acceptance & exposure to regulatory Anti Money laundering requirements in a bank