Role Objective
The Country Compliance Officer & MLRO will be responsible for managing the field inspection activities of the respective branches in UAE to ensure compliance adherence with regulatory guidelines, applicable laws and internal policies/procedures. The incumbent will oversee the inspections and, ensure timely preparation, review and submission of all required reports, highlighting Compliance issues/violations in line with the yearly inspection plans. The incumbent will ensure effective administration of the Bank's Anti Money Laundering (AML), Countering Financing of Terrorism (CFT), and Sanctions activities through available systems/tools, in line with the guidelines/parameters set by the regulatory agencies and the applicable laws. The incumbent will guide/direct the team in AML/CFT/ Sanctions examinations/reviews of the assigned areas and will be leading the activities related to AML/CFT, Sanctions in UAE.
Detailed Roles and Responsibilities:
STRATEGIC
- Ensure and guide the team in effective implementation of Compliance and AML/CFT/Sanctions plans for Doha Bank.
- Update self/team on the regulatory requirements/changes set by CBUAE and other relevant regulatory bodies, and international best practices/ standards related to Compliance and AML/CFT, recommend adequate suggestions/insights to Head of AML/CFT Unit.
- Coordinate with the Head of AML/CFT Unit to develop policies and procedures for Compliance and AML/ CFT, Sanctions, necessary presentations, staff Trainings, E-Learning's for UAE Branches and updating them accordingly.
- Develop and maintain robust working relationships with internal/external stakeholders of Doha Bank including CBUAE/FIU and other regulators to facilitate functional/ operational needs.
OPERATIONAL
- Ensure complete adherence of the Compliance Control and AML/ CFT operational activities to Doha Bank policies, procedures, internal controls, Norkom/Detica Process Management Procedures and Compliance & AML/CFT Policy /Procedures by self/team.
- Work closely with the reporting authorities at HO in formulation of the yearly inspection plan and programs for onward submission to the Audit, Compliance and Risk committee through the reporting authorities.
- Evaluate the effectiveness/adequacy of available systems, policies and internal controls to mitigate the Compliance/regulatory and AML/CFT risks.
- Ensure that all relevant Norkom/Netreveal Alerts/Cases are being reviewed, analyzed and investigated, taking into consideration the profile of the customer, detection scenario logic and the related transactions which have breached the threshold/Detection Scenario logic and proper actions are taken on timely basis by the team.
- Promptly identify and highlight suspicious transactions to the FIU with proper record keepings. Maintain records of all the cases investigated but not reported to file STR's.
- Ensure that all relevant Norkom/Netreveal alerts/cases for investigation are based on the ageing of the alerts and the risk (Alert Score) associated with an alert/case by the team.
- Review the transactions pertaining to customers in all available applicable systems, including but not limited to Norkom/Netreveal , ECC, Citrix, CTL and Netterm-Core Banking by the team.
- Handle all AML/WLM/CDD & ODD alerts during the absence of the Compliance Officer.
Educational Qualifications and Experience:
- University graduate with a degree in Business or Banking or Finance or Economics or any other related discipline.
- Master's degree in Management or any other related discipline will be an added advantage.
- 08-12 years of total experience in financial services/banking industry, entailing responsibilities pertaining to the specific area of discipline.
- Previous experience in Compliance/Regulatory/AML/CFT function, on a supervisory level.
- Experience in managing small teams.
- Local experience desirable.
