Head of Compliance Model and Analytics

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.

Job purpose

The role holder is ultimately responsible for owning, managing and optimizing the models, data, MI and reporting framework in the compliance department as well as providing subject matter expertise on compliance models, data, MI and reporting matters.

Principal accountabilities

• Manage the team responsible for the models, data, MI and reporting framework in the compliance department.
• Development, management and maintenance of key compliance models, including those used by transaction monitoring, customer screening and payment screening systems.
• Apply innovative data analytics methods to large volumes of customer and transaction data to identify trends and typologies, and generate actionable insights to support key compliance activities, including transaction monitoring, screening and due diligence.
• Produce periodic and ad hoc management information (MI) reports covering key compliance activities for the CCO, bank’s senior management forums and the board.
• Manage the configuration of lists used by the bank for the purpose of screening customers and transactions.
• Work closely with the AML/CFT units to develop new and update existing transaction monitoring scenarios to adequately monitor key ML/TF risks and typologies, detect unusual and/or suspicious activity of CBD customers.
• Work closely with the sanctions unit to develop new and update existing rules and settings, tune and optimize configuration of screening systems to increase the accuracy of detection.
• Monitor ongoing effectiveness of existing configurations of transaction monitoring and screening systems expressed in the dynamic of alert/hit rate, reduction of generated false positive alerts and other parameters.
• Ensure that all relevant customers and transactions are subject to transaction monitoring and screening.
• Conduct regular testing of compliance systems, models and data to ensure the completeness and accuracy of the flow of customer and transaction data from primary source systems to relevant compliance systems.
• Liaise with external parties responsible for periodic independent validations of compliance systems and responsible for the implementation of relevant recommendations emanating from independent validations.
• Liaise with the CBUAE, internal audit or CMAT unit on all compliance models, data, MI and reporting matters.
• Oversee upgrades and enhancements of existing compliance systems and implementation of new systems, including developing business requirement documents (BRD) and relevant system and process documentation.
• Identify and escalate system control and compliance issues, assess and document the related risk, and make recommendations for their resolution.
• Ensure the bank’s compliance systems and models are compliant with applicable UAE laws and regulations, industry best practices and recommendations from respected third parties such as FATF and Wolfsberg.
• Propose enhancements to the systems and models used by the compliance department to generate efficiencies and/or improve the quality of financial crime risk management.
• Provide the CEO and board with assurance that key compliance systems and models are operating effectively.
• Provide guidance to AML/CFT and sanctions analysts on interpreting system output to aid their investigations.
• Manage resources efficiently and prioritize system enhancements and upgrades.