Job Description

JOB RESPONSIBILITIES:

1. Transaction Monitoring & Alert Clearance

Review and investigate alerts generated by transaction monitoring systems.

Analyse transactions to detect potential money laundering, fraud, or other suspicious activities.

Document findings and escalate cases requiring further review to the Compliance Officer/Alternate Compliance Officer.

2. Sanctions & PEP Screening

Review and investigate alerts from real-time and post-transaction screening against sanctions and Politically Exposed Persons (PEP) lists.

Ensure resolution of confirmed matches and timely escalation of alerts/cases requiring further review to the Compliance Officer/Alternate Compliance Officer (CO/ACO).

Ensure no individual matching with UN, UAE Local List, Prohibition List, FIU Search and Freeze, Continue Free is onboarded or allowed to execute any form of transactions.

Perform ad-hoc screening for Know Your Employee (KYE) purposes as requested by HR.

3. Know Your Customer (KYC) / Customer Due Diligence (CDD) / Enhanced Due Diligence (EDD)

Conduct KYC procedures and onboard corporate customers in the UAE for remittance, WPS, Special products and currency exchange services.

Verify supporting documents (e.g., invoices, bills of lading) for corporate transactions and perform vessel name screenings for sanctions compliance.

Conduct EDD for onboarding cross-border agents/correspondent banks by coordinating documentation with relevant departments and conducting sanctions screening before submitting for regulatory approval.

Conduct periodic EDD assessments of existing correspondent banks, agents, and exchange houses operating in the UAE.

Ensure that all escalated customers and transactions to the Compliance Department, are thoroughly reviewed before approval or rejection, with a clear and well-documented explanation for the decision made.

4. Financial Crime Compliance & Risk Assessment

Assist in implementing and maintaining Financial Crime Compliance policies and procedures.

Support periodic risk assessments related to financial crime compliance.

Stay updated on regulatory changes and industry best practices.

5. Compliance Reporting & Documentation

Prepare compliance reports for management and regulatory authorities as required.

Maintain organized records of compliance activities, investigations, and risk assessments including internal trackers.

Support internal and external audits related to compliance.

Conduct branch visits to assess compliance levels and identify training needs and submit a Branch Visit Report with observations to the CO/ACO for further action.

6. Training & Awareness

Assist in developing compliance training materials for employees.

Conduct training sessions whenever required, on Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), Counter-Proliferation Financing (CPF), and related regulatory obligations.

Guide branch staff on compliance-related transaction queries.

7. Additional Responsibilities

Perform other compliance-related tasks as assigned by the CO/ACO.

Seek approvals from the BOD/CO/ACO where deemed necessary.

When you come across any suspicious customers/transactions, you are required to raise your suspicions to the CO/ACO.

Job Type: Full-time

Pay: AED3,000.00 - AED4,000.00 per month

Application Question(s):

Do you have experience in money exchange / remittance industry in UAE
Application Deadline: 15/05/2025
Expected Start Date: 21/05/2025