AVP- Customer Due Diligence

5-7 years
4 days ago
Job Description

Job Description


The objective of this role is to review and monitor high risk activities in the AML team and perform investigations applying a risk-based approach.

Assist the Customer Due Diligence (CDD) unit within Financial Crime Compliance (FCC) to:

  1. Review and approve new to bank (NTB) Very high risk / sensitive relationships from Compliance
  2. Review and approve KYC refresh for Very high risk / sensitive relationships (periodic as well as trigger based) from Compliance standpoint
  3. Provide FCC advisory support to business covering areas related to AML, Sanctions and AB&C


Job Specific Accountabilities

Support VP, CDD team with the following activities

  • Develop the framework of CDD area which includes designing policies, procedures, systems in order to complete the CDD/EDD process and creating awareness regarding the AML function
  • Stay abreast of related laws, rules, regulations and best practices pertaining to the financial crime world.
  • Review and respond to due diligence / AML queries involving very high risk parameters for the Consumer, Group Private Banking and Corporate, Commercial and Investment Banking segment.
  • Provide SME advisory to the business, support functions, international branches and subsidiaries on Customer due diligence matters
  • Develop and deliver focused training to FLOD and Businesses on performing customer due diligence and enhanced due diligence
  • Identify AML related issues within the businesses and ensure material risks are reported on a monthly basis to appropriate governance forums - SteerCo, Compliance Committee etc
  • Ensure issues identified by Group Internal Audit (GIA) are closed in a timely manner with proper resolution
  • Provide expertise and support to Compliance Testing, MI & Governance team to enable them to conduct effective reviews and test for the CDD/EDD space
  • Enhance Governance and assist Businesses, FLOD, Risk & Control and International locations develop their framework
  • Identify opportunities for technological advancements and simplification of processes
  • Ensure Compliance expertise is provided in activities related to data migration into new systems identified
  • Work alongside Compliance technology to ensure necessary budget approvals are obtained for driving processes and regulations using technology
  • Provide adequate support to stakeholders on regulation and policy interpretation
  • Build and maintain good relationships with businesses to create a seamless environment culture
  • Support in execution and program management of financial crime related projects as per the project guidelines set by the compliance governance department.
  • Prepare responses to the AML questionnaires requested by correspondent banks.
  • Assist with any ad-hoc tasks that may be assigned by Line Manager or MLRO
  • Conduct review and testing of the customer risk assessment model and rating methodology.
  • Prepare dashboards and ensure reporting is performed in a timely and accurate manner.
  • Ensure bi-annual reporting takes place with the regulator in the form of MLRO report
  • Support in execution and program management of financial crime related projects as per the project guidelines set by the head of the department.
  • Review Very high-risk case proposals that get referred to Group CDD team for due diligence purposes.
  • Prepare a comprehensive summary of the case by adding necessary recommendations and risk mitigations
  • Review and advise on the risks identified during CDD reviews related to sanctions nexus, adverse media, PEP and positive/true matches on FAB's internal watch lists. If there are any concerns that are identified (example sanctions nexus or any other compliance reason), obtain feedback/concurrence from related Compliance team such as Sanctions Advisory team etc
  • Ensure to properly document the approval rationale with risk & controls team/business during case approvals
  • Ensure the cases rejected are accurately and promptly updated in the CDD rejection log
  • Update the deferral tracker for all the cases approved on deferral and ensure necessary follow ups and escalations are made on time in order to close the deferrals
  • Ensure to update the status update sheet and additional tasks sheet on a daily basis


Minimum Qualification

  • Bachelor's degree or higher in management, banking, finance, preferably with certification in compliance, KYC/AML/CFT or financial crime

Minimum Experience

  • Minimum of 5 years of experience within the AML/CDD unit.


Additional Information

FAB, the UAE&#8217&#x3B;s largest bank and one of the world&#8217&#x3B;s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank&#8217&#x3B;s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.

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