AVP, AML Transaction Monitoring
Job Specific Accountabilities & Strategic Contribution
Responsible for owning a segment for their AML alerts and investigations
Ensuring timely review of all alerts and investigations as per CB UAE guidelines
Responsible for filing STR (Suspicious Transaction Report) with Group MLRO before they are sent to CBUAE
Management of correspondent banking alerts and working with FI partners of the bank with the queries
Authorizing restrictions on the customer account where money laundering concerns are suspected and recommending client exits if required.
Testing and providing feedback on new scenarios, threshold limits and undertaking an impact assessment
Supporting CB UAE audits and process walk throughs
Training of resources with new scenarios and emerging typologies
Review of the periodic circulars issued by the Central Bank and making amendments to the procedures and controls to align them with regulatory environment.
Active collaboration with business to manage client experience while handling of the AML queries and other control environment.
Stay abreast with the control environment, control appropriateness and effectiveness and control testing tools and techniques available within the Bank and work closely with the AML Transaction Monitoring Team leader
Work with technology in measuring the appropriateness and screening capabilities of the product platforms with the Surveillance systems of the Bank.
Identifying automation and tuning opportunities in the business unit that not only help to bring efficiency
Effectively contribute to define the training and competency framework for the AML Teams Onshore/Offshore.
Effectively manage and supervise the team by defining team's objective to maximize performance.
Identify resource requirements to efficiently manage the FLOD Surveillance Teams ensuring the right set of skills and knowledge are maintained within the Team.
Team development, performance management and consequence management for repeat failures.
Act as a role model to direct and indirect reports to drive adherence to organizational values and ethics and foster a value driven culture within the bank.
Identify opportunities to tune the screening engine to reduce false positives in the business balancing risk and efficiency.
Supporting BRD development for changes, creation of CR and UAT testing
Recommend, initiate and implement, optimizations to screening methodologies and parameters in order to maximize cost efficiency and effectiveness of FAB’s regulatory compliance locally as well as for all jurisdictions where FAB operates.
Working closely with the Technology, Data & Reporting Team on KPI’s and KRIs for reporting to senior management.
The job holder should possess and be abreast with complete knowledge of all: -
- Regulatory compliance, Sanctions, PEP and Adverse media policies & guidelines relevant to FAB’s international network
Responsible for monitoring and supporting timely implementation of Compliance systems projects applicable to domain.
Minimum Qualification
Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, transaction monitoring/sanctions screening, KYC/AML/CFT, financial crime or risk management
ACAMS certification
Technical Competencies/ Experience
Minimum of 8-12 years of experience in a reputed bank with min of 5 years of exp in AML/Group Compliance function
Excellent communications skills, written and spoken.
Experience to handle large teams and different locations
Positive and enthusiastic attitude
Excellent interpersonal and managerial skills