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.
The main purpose of the role is to analyze and assess the assigned high-risk customer profiles for existing customers periodically and upon trigger events including Politically Exposed person (PEP) identification and assessment against the Bank's internal policies and procedures and determine whether they are in line with the Bank's risk appetite and in line with the regulations.
Principal Accountabilities
Onboarding
- Oversee onboarding of customers of Small and Medium Enterprise business segments (SME customers), ensuring accurate KYC documentation and risk assessment prior to account opening.
- Validate customer risk ratings and enhanced measures applied to high-risk SME customers (e.g., PEP-linked entities, cash intensive business).
- Collaborate with onboarding teams and Relationship Managers to resolve KYC gaps and ensure compliance with regulatory standards.
KYC Refresh
- Manage periodic KYC refresh cycles for SME customers, ensuring timely complete of KYC refresh requests
- Supervise trigger-based reviews arising from material changes in customer circumstances or transactional behaviour.
- Ensure adherence to regulatory timelines and internal policies for KYC maintenance.
Name Screening
- Oversee the review and resolution of sanctions name screening alerts generated on customers during onboarding and throughout the customer lifecycle.
- Ensure timely escalation and disposition of true matches in line with sanctions compliance requirements.
- Work closely with the business team and EDD officer to ensure that alerts are closed on priority to ensure a fast-tracked onboarding journey
Additional Responsibilities
- Liaise with business units, Relationship Managers, and other stakeholders to obtain required KYC information and resolve outstanding issues.
- Develop and deliver training to EDD team members and business partners on EDD processes, regulatory changes, and best practices.
- Prepare and present management information reports on EDD activities, trends, and emerging risks to senior management.
Communication and Working Relationships
- The jobholder is required to contact and interact with all Departments/branches and functions of the Bank that may require advice (e.g., Credit, Operations, and respective Business and Branches etc.) while performing the Ongoing Due Diligence i.e. KYC refresh and PEP identification and completion of PEP assessment.
- The jobholder shall ensure that the KYC ODD (CDD/EDD) measures are completed within acceptable time by the KYC ODD team.
- The jobholder is accountable for providing accurate and timely information to the Manager on AML /TF risks identified during KYC refresh and for ensuring compliance with relevant laws in all aspects of the Bank's activities.
Requirements
- Bachelor's Degree as a minimum from a recognized university.
- At least 3 years of experience in the banking/financial services sector preferably having Due diligence exposure either through First line or Compliance (Second line of defense.
