AVP- AML Advisory

15 سبتمبر، 2022

0 6 4 دقائق

Job Description

Job Description
To execute activities of the Compliance AML team including reviews and investigations on matters escalated from the business, drafting of responses to correspondent bank questionnaires, regulatory submissions or other ad hoc tasks within the remit of the AML Team.
Job Specific Accountabilities:
Policies, Systems, Process & Procedures:

Follow all relevant AML policies, processes and standard operating procedures, and instructions so that the work is carried out in a controlled and consistent manner.
Review and update Group AML&CFT Policy at least on annual basis or as and when there significant changes to the laws and regulations or key processes
Develop guidance notes and desktop Standard Operating Procedures (SOP) on specific AML matters
Provide support and advice to other departments in relation to the application of AML policies and procedures to their function.
Review and provided feedback on policies and procedures from received from other units from AML standpoint
Provide support to VP, AML Advisory in the FCC RCSA and BCP testing to ensure timely completion

Continuous Improvement:

Provide support to VP, AML Advisory in execution and program management of FCC related projects
Identify and propose opportunities for continuous improvements to AML related systems, processes and practices based on risks and control deficiencies identified.
Provide periodic training to the staff with in team and wider organization.
Monitor the performance of the AML Compliance Program and relates activities on a continuing basis, taking appropriate steps to improve its effectiveness.
Perform Thematic Reviews on AML high risk accounts and transactions based on typologies, trends and developments

Reporting:

Record, monitor and report volume of queries, referrals and AML clearance received from various stakeholders to senior management
Provide inputs to the senior management on guidelines to the Technology, Data & Reporting Team on KPI's and KRIs for reporting to senior stakeholders.
Prepare reports required to be submitted to regulatory/law enforcement authorities (Cash Transaction Report and Suspicious Transaction Report)
Provide information as requested by the Technology, Data and Reporting team in a timely manner.

AML Oversight and Advisory:

Provide AML advisory services to the business, support functions and operations on customers, transactions, products and services
Prepare AML advice for internal and external (group-wide) stakeholders on customers, transactions products and services.
Stay abreast of related laws, rules, regulations and best practices pertaining to AML.
Conduct reviews on AML matters escalated from the business covering Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Know Your Customer (KYC), source of funds, client information, PEPs client profiling, risk ratings and suitability.
Perform level-3 transaction monitoring investigations and prepare case files.
Notify the senior management on all incidents of non-compliance with regulation and legislation, in a timely manner.
Provide AML advisory to international branches, in coordination with International Branches Department.
Attend monthly calls with International compliance teams on various issues related to financial crime, Regulatory, Audit, Assurance and other updates.
Review queries related to trade transactions and monitor TBML or structured transactions.
Provide support on reviewing new products and changes to the existing products from AML standpoint.
Support in the review and update of AML focused training and e-Learning modules

Trade Based Money Laundering (TBML):

Act as TBML Subject Matter Expert (SME) to the Business and international branches
Provide advisory on Trade Finance products/services and transactions
Support in execution of TBML related reviews (thematic reviews)
Support in the design of the Bank's Trade Based AML Program including review and update of policies & procedures and training programs
Ongoing review of TBML typologies and trade transaction monitoring scenarios
Ongoing collaboration with Trade Finance Units (Trade Ops, TBR, & GTB Compliance) to further strengthen TBML control environment
Delivery of focused TBML training session with Compliance and Trade Finance teams
Support in preparation of TBML Compliance Advisory to key stakeholders

AML Transaction Monitoring (TM) Technology:

Support Group MLRO in the TM enhancements and related projects
Provide assistance in the review of related TM system documents and work on deliverables to IT
Support Group MLRO in the periodic tuning of TM system thresholds and scenarios across the Group
Provide support to international branches and subsidiaries in the review and design of SOP

Generic:

Responsible to day-to-day management of AML advisory related queries, referrals and AML clearance received from relevant stakeholders within the Bank
Execute activities of the AML Advisory team including reviews and investigations on matters escalated from business
Drafting responses to correspondent bank questionnaires, regulatory submissions
Conduct Investigations, perform researches and take action on the AML queries related to name clearance & payment transactions.
Fulfilling request received from UAE Authorities and notices received (including freeze/unfreeze notices
Carry-out the compliance duties to ensure the day today functions are adhering to the CBUAE regulations and in line with the bank's policies and procedures
Monitor the Group Internal Audit (GIA) issues related to AML. Review the recommendations made by GIA and perform agreed action to remediate the risks identified.
Review and address AML & Watch list and alerts. Update the blacklists on a regular basis.
Perform screening on FAB's portfolio based on the daily FCC newsfeed to identify any exposure to FAB and take appropriate actions (investigate and reporting of SAR/STR)
Provide support to VP, AML Advisory on AML activities and projects
Support in execution and program management of financial crime related projects as per the project guidelines set by the Compliance Governance Department.
Other duties as assigned by the heads of the departments.

Qualifications
Minimum Qualification

Bachelor's Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, AML/CFT, Financial Crime or Risk Management.
Sound knowledge on key emerging technologies e.g., Blockchain, Artificial Intelligence (AI), FinTech, Data Analytics is an added advantage

Minimum Experience