SVP & Head of Sanctions
First Abu Dhabi BankThis job is no longer accepting applications
Job Description
Job Description
Job Specific Accountabilities:
Strategic Contribution
- Ensure effective implementation of the Bank's Compliance strategy within the Sanctions teams remit to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.
People Management
- Effectively lead and manage the Sanctions Team by setting of individual objectives, managing performance, developing and motivating staff to maximise performance.
- Support the Compliance Governance Department in talent management including acting as an SME on developing and delivering Sanctions related training.
- Provide guidance and on the job training for junior colleagues and conduct knowledge sharing sessions.
- Identify Sanctions team resource shortfalls against the Compliance Department capacity plan.
- Act as a role model to direct and indirect reports to drive adherence to organisational values and ethics and foster a value driven culture within the Bank.
Budgeting and Financial Planning
Prepare and recommend the Sanctions team's budget and monitor adherence to the budget, while ensuring all sectional activities are conducted in line with the approved guidelines.
Policies, Systems, Processes & Procedures
- Act as an SME to support the Compliance Governance Department in developing, maintaining and reviewing Sanctions related policies, procedures and processes.
- Oversee the local compliance with Group Sanctions policies, procedures and processes.
- Oversee effectiveness local Sanctions systems to support operational controls including acting as an SME to define system requirements, parameters, scenarios, logic and underlying models.
Continuous Improvement
- Identify opportunities for continuous improvements to Sanctions related systems, processes and practices based on risks and control deficiencies identified.
Reporting
- Provide guidelines to the Technology, Data & Reporting Team on KPI's and KRIs for reporting to senior stakeholders.
. Review MI related to Sanctions prior to submission to GFCO/GCO.
Sanctions Advisory
- Manage the implementation of the Group Sanctions Programme within the UAE.
- Keep abreast of related laws, regulations and best practices pertaining to Sanctions, assess its impact on FAB and coordinate with the Compliance Governance department to update relevant policies.
- Develop and strengthen relationships to promote best practice and ensure a good understanding of Sanctions requirements across the Bank.
- Review Sanctions related alerts generated by sanctions screening systems and present findings to the GFCO for confirmed matches.
- Provide advisory services on escalated issues on sanctions language, due diligence on customers, trade transactions, vessel tracking, inward/outward remittances, military transactions to other compliance departments and business units across the FAB group.
- Respond to correspondent bank's and CBUAE's requests for information and due diligence queries related to Sanctions.
- Provide sanctions advisory to international branches, in coordination with International Branches Department.
- Advise on customer due diligence queries where sanctions risks have been identified.
- Own, review and sign off on screening lists deployed on systems.
- Act as an SME on the periodic review and testing of sanctions screening systems.
- Act as the Sanctions SME for the new product review process
Generic
- Implement IA recommendations for findings against the Sanctions Team.
- Lead/participate in relevant financial crime related projects as per the project guidelines set by the Compliance Governance Department.
Qualifications
Minimum Qualification
- Bachelor's Degree or higher in Management, Banking or Finance, preferably with certification in compliance, AML, risk management or internal audit. Legal background would be advantageous
Minimum Experience
- Minimum of 10-15 years of experience in a reputed Bank
- Minimum of 10 years of experience in an Sanctions Compliance role
More Info
About Company
FAB, the UAE’s largest bank and one of the world’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’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.