To complete due diligence on new to bank client on-boarding, monitoring existing clients to rule out money laundering/terrorist financing/sanctions risks, investigating and reporting unusual/suspicious cases to UAE Central Bank (CBUAE), in order to comply with regulatory requirements and mitigate risk for the bank
Accountability
Description
Client On-boarding
Review account opening/know your customer (KYC) documentation, conducting quality client due diligence, factoring Anti Money Laundering and Counter Terrorism Financing (AML/CFT) and sanctions risks, liaising with business units and vigilance and control team to ensure quality of KYC forms and documents
Document on-boarding decisions for reviewed clients, providing advisory for sanctions matches referred by operations and business units and provide sign off for account opening for increased risk and Politically Exposed Persons (PEP) customers to ensure compliance with regulatory requirements
Client Risk-Assessment
Conduct risk assessments and issue advisory/take decisions on new to bank account opening requests, making decisions on the risk assessment (increased, PEP, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements
Support line manager in developing scope of periodic and thematic reviews for existing clients, liaising with business unit to ensure the review is completed in a timely manner and is in line with regulatory requirements
Transactions Monitoring/Investigation
Review system generated alerts against customer data, investigating for potential money laundering/terrorist financing/sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious to ensure all required actions are taken
Update relevant Management Information Systems (MIS) to ensure accurate tracking and record keeping
Update internal watch-lists, identifying tainted/blacklisted names and monitoring that the required actions are taken in order to fulfil regulatory requirements and avoid penalties
Reporting, Tracking and Correspondence
Support the Group Money Laundering Reporting Officer (GMLRO) and Deputy MLRO by reviewing and finalising the Suspicious Transaction Reports (STR) and Suspicious Activity Reports (SAR) drafted by the Investigation team to ensure accuracy of data reported
Maintain a track of actions communicated by the CBUAE Financial Intelligence Unit (FIU) to ensure all actions are followed through to completion
Support with addressing queries from CBUAE, FIU and correspondent banks relating to Money Laundering and Financing Terrorism (ML/FT) and sanctions matters, carry out freezing of funds and blocking of accounts, responding to and raising requests for information (RFIs) from other banks, RBS reporting, Bi-annual MLRO reporting and any other reporting requirements to ensure all actions are completed within agreed turaround times (TAT)
Customer De-Risking
Determine exit strategy for flagged customers, close accounts, reporting to CBUAE to ensure effective closure of accounts and to mitigate AML, KYC and sanctions risks
People Management
Manage self and team in line with ADCB\xe2\x80\x99s people management policies, procedures, processes and practices to ensure adherence and to maximise own and employee contribution to business performance
Manage the effective achievement of the team\xe2\x80\x99s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximise overall performance, engagement and motivation
Policies, Processes, Systems and Procedures
Recommend and implement improvements to departmental policies, procedures and processes covering all areas of activity so that all relevant procedural requirements are fulfilled while ensuring that ADCB delivers best-in-class services, products and innovation
Continuous Improvement
Identify opportunities to contribute to organisational and departmental change initiatives, programmes and projects taking into account best practice and standards in the business environment
Customer Service
Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank\xe2\x80\x99s required levels of service in all internal and external customer interactions
Skills
EXPERIENCE, QUALIFICATIONS & COMPETENCIES
Minimum Experience
At least 6 years of experience in banking in compliance, branch or operations department.
Minimum Qualifications
Bachelor\xe2\x80\x99s Degree in Finance, Accounting, Commerce or Business Administration
Knowledge and Skills
Microsoft Office Suite
Understanding of account opening and customer documentation
Knowledge of customer transactions and behaviours
Exposure to banking transactions
Understanding of local/International and Central Bank rules and regulatory requirements
Understanding of banking systems, reports and workflows
Proven team leader skills, experienced in supervising a team