Jobnumber MGS01944 Closing date 29-May-2024 Job Purpose
Support Compliance Manager in day to day operations of ECF unit, ensuring compliance to Bank's AML/KYC policies/procedures and regulatory requirements.
Maintain ongoing awareness/knowledge of all regulations set by the Central Bank of the UAE and interpret the same to the relevant units within the organization to ensure adherence.
Role of the compliance officer is to review the high risk account and name screening referrals for low and medium accounts that cannot be discounted by first line of defence , addressing compliance related issues while reviewing L3 and name screening referrals so that the bank is not exposed to regulatory, reputational or other risks. Extend support to business units by providing compliant and workable solutions to regulatory requirements and intervene where necessary to stop a transaction/process/business proposal.
Support Compliance Manager in implementation of compliance initiatives in RBG – as may be determined / guided by HO- Compliance from time to time.
Key Result Areas
Maintain ongoing awareness/current knowledge of all applicable internal/external compliance requirements and existing/emerging legal/statutory/regulatory environment – identifying any issues that could impact the bank.
Assist the Compliance manager to ensure Bank's internal procedures/policies remain compliant with regulations/changes providing guidance/advice to branch management as necessary.
Assist in maintaining pro-active relationships with business, facilitating timely involvement to ensure compliant solutions to business issues.
Assist in communicating all regulatory notices/circulars to all concerned areas.
Assist in developing/maintaining/updating the KYC/AML policy.
Assist in AML/Compliance training programs to all business group staff on an on-going basis as required/necessary to raise awareness and ensure all staff understand their responsibly/obligations with regards to Corporate/AML policies and regulatory/legal/statutory requirements.
Provide support for the enhanced due diligence process followed on businesses classified as high risk prior to account opening/credit proposals and provide decisions accordingly. Review proposals on high risk relationships especially cases that are escalated to senior management/business group head and ensure
that all risks are appropriately highlighted for sign off.
Review the Name Screening referrals from branches/enabling functions/operation and provide compliance feedback in accordance with the bank policies/CB regulations.
Review account opening requests of high-risk customers and provide the final decision.
Supervise compliance staff and provide necessary guidance and coaching to them on an ongoing basis.
Assist in preparation of all reports/MIS on issues relating to Compliance/AML and ensure that same are provided in a timely manner to Manager Compliance as well as regulatory authority.
Assist in responding in a timely manner to Compliance/AML related queries/investigations of UAE Central Bank/HO/Other regulators as well as provide expert guidance to branches upon referrals.
Ensure implementation of customer screening through MB screening and public domain and other Negative lists provided by HO/Central Bank UAE across all segments.
Represent compliance in any ad hoc projects as directed by Manager Compliance
Key Result Areas (Continued) Operating Environment, Framework and Boundaries, Working Relationships
Operates in complex environments that are characterized by diverse local and international regulations; thus requiring multi-jurisdictional knowledge.
Familiarity with banking law and practices as well as MB policies and procedure and systems.
Working relationships with the Branch Management, Departmental Managers, and other Officers without compromising on independence and professionalism.
Key Result Areas (Continued) Problem Solving
Analytical thinking and educative judgment on regulations and their branch wide implementation.
Clear understanding of business transactions, initiatives and relationship requirements with close coordination with relationship team without losing focus on risk, regulations and control issues.
Key Result Areas (Continued) Decision Making Authority & Responsibility
Contribute in the development of product, systems policies and procedures related to compliance and AML at bank-wide level.
Maintain and develop relations with regulators and business units.
Responsible for administrative and office support.
Knowledge, Skills and Experience
Graduate with 3-4 years of banking experience.
Basic knowledge and understanding of local regulatory rules and legislation, and various international requirements.
Computer literate and good command over spoken and written English.
Good presentation skills.
Efficient and logical approach to problem solving.
