Assistant Manager, Sanctions - Compliance

Job Purpose:

The Assistant Manager, Sanctions - Compliance will manage end to end Sanctions Unit under the direct supervision of the Head of FCC/MLRO for effective administration of the Bank's Sanctions and Proliferation of weapons of Mass Destruction (PWMD) activities through available systems/tools, in line with the guidelines/parameters set by the regulatory agencies, applicable laws and relevant policy and procedures.

Principal Accountabilities:

• Promptly manage and assign the alerts generated on a daily basis.
• Ensure to Review/analyze Alerts/Cases with active investigation of customer profile, detection scenario logic and the related transactions which have breached the Detection Scenario logic and take prompt /appropriate actions.
• Provide appropriate recommendations/comments for disposition of alerts/cases on the investigation performed for an alert/case as a checker.
• Ensure that all relevant alerts/cases for investigation are based on the ageing of the alert/case and are actioned timely.
• Promptly identify and highlight suspicious transactions to the Head of FCC/MLRO with complete investigations/documentations for necessary action.
• To have an oversight of alerts/cases handled by the team to ensure there are no gaps from regulatory and policy/procedures perspective.
• Ensure complete investigation on alerts related to perpetual customer screening, payments screening and trade related screenings are in line with Policy/ Procedures and Regulations, and highlighting High Risk/ black listed customers for necessary actions.
• Handling FFR/PNMR and other regulatory requests in addition to Executive Office communications on time.
• Provide proper Sanctions advisory to the concerned stakeholders based on the regulations and banks approved policy/procedures for transactions related to SWIFT and Trade Finance in consultation with Head of FCC/MLRO.
• To ensure all the related Sanctions related tools, applications relation to pre-screening, post screening, Payments screening etc are up and running without any issues.
• To handle all Correspondent banking Questionnaires in coordination with the relevant stakeholders and AML and Client Acceptance & Advisory team leaders and Head of FCC/MLRO for timely deliveries. To handle end to end exercise of preparing and finalizing banks Wolfsberg Questionnaire in coordination with all the stakeholders and approved by the Head of FCC/MLRO.
• Maintaining and updating proper list of Sanctions related individuals and entities in close coordination with Head of FCC/MLRO.
• Maintaining and updating High risk and Sanctioned countries as per latest updates.
• Ensuring that all sanctions related controls are embedded within the bank.
• Maintaining effective coordination with Business Units and ensure that all inquiries/investigations received are handled properly and responded in timely manner.
• Maintaining MIS / track and follow up with the relevant stakeholders for timely resolution of pending exceptions/alerts/cases and highlight the same to the Head of FCC/MLRO for review and necessary action.
• Maintaining and updating Sanctions related various MIS's.
• Promptly respond to all queries related to World Check, Sanctions Application and Sanctions issues raised by branches and departments.
• Conduct sanctions examinations/reviews of the assigned areas, for identification, monitoring and reporting of suspicious activities.
• Support in conducting Sanctions EWRA and Compliance Training to Bank staff.
• Handling Regulatory/Internal Audit and External Audit requirements.

Qualification & Experience:

• University graduate with a degree in Business or Banking or Finance or Economics or any other related discipline.
• 07-10 years of relevant experience.
• Previous experience in Compliance/Regulatory Audit function in banking industry.
• Local experience is desirable.
• Knowledge of UAE and international AML / CTF / Sanctions requirements.
• Ability to develop and maintain policies and procedures in relation to Sanctions and Proliferation of weapons of mass destruction.
• Knowledge of CDD and EDD processes, tools and systems.
• Understanding of sanctions strategies and processes.
• Knowledge of AML / CTF / Sanctions regulations and (FATF) standards.
• Experience of Anti Bribery and Corruption activities would be desirable.
• Professional certification such as the CAMS/ CGSS and/ or ICA would be desirable.