Job Description
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers and delivering service that really goes the extra mile.
Job Purpose:
The KYC and Ongoing Due Diligence Analyst will be responsible for ensuring compliance with internal policies related to KYC and customer due diligence, as well as, managing the risks and controls associated with the WBG departments processes. The KYC and Ongoing Due Diligence Analyst will also oversee the control testing and quality assurance functions to ensure the effectiveness and efficiency of the KYC and due diligence operations.
Principal Accountabilities:
Implement the KYC and Ongoing Due Diligence (ODD) processes for the Wholesale Banking Group (WBG) customers, including, the identification, verification, screening, and review of documents of the customers to ensure quality submissions of the NTB and ODD files.
Ensure compliance with the applicable internal policies related to KYC and Customer Due Diligence, as per the onboarding and ODD internal policies
Implement the quality assurance (QA) of the KYC and ODD for the WBG departments, and Provide Quality assurance review reports on the completeness, quality, and reliability of the documents related to Account opening and ODD
Perform QA review for NTB and ODD
Perform Review of RCSA
Perform RCSA Control Tests
Provide support to the KYC and ODD stakeholders, such as the Relationship Managers (RMs), and any other stakeholders from the Coverage Teams
Receive from the WBG RMs completed NTB and ODD submissions, review the completion of the documents and information in the forms, and perform an independent quality check and necessary due diligence to have a complete file for NTB account onboarding submission.
Provide the feedback and discrepancies to the WBG RMs, interact with them, and recommend the necessary actions, if required, to ensure completeness of the NTB and ODD files
Ensure the documents and information are complete as per the existing SOPs to have quality submissions of the NTB and ODD files for WBG Departments
Recommend the NTB and ODD files submission after complete quality check of the submission file
Perform system review post account opening and ODD, and make sure the account opening data is updated for the fields visible to Coverage in the Bank system
Perform Document repository review, and make sure the account opening documents and ODD documents are available and complete as per the approved file.
Ensure to liaise with the WBG RMs to rectify the gaps identified during the Bank system check or document repository review post account opening
Provide feedback and insights to the Line Manager to recommend any changes required or alignment in the SOPs with the compliance policy or with practice within the WBG coverage units
Ensure compliance to the NTB and ODD SOPs and guidance from the line manager and from Compliance
Update the Unit MIs required to monitor the progress and to keep the record of the accounts reviewed
Perform ad hoc projects assigned by the Line Manager
Requirements:
Education and Experience:
Bachelor's Degree in Economics / Finance / Accountancy / Business Management
At least 3-5 years of experience in KYC and due diligence, preferably in the wholesale banking sector
Strong knowledge of the KYC and due diligence requirements and industry standards
