Job Purpose
The Analyst Anti-Money Laundering(AML) will manage AML/CFT Unit activities under the direct supervision of the DMLRO for effective administration of the Bank's AML/CFT activities through available systems/tools, in line with the guidelines/parameters set by the regulatory agencies, applicable laws and relevant policy and procedures to protect the bank from the threats related to Anti Money laundering (AML)/ Counter Terrorist Financing (CTF) , Sanctions and Proliferation of weapons of Mass Destruction.
Principle Accountabilities
- Ensure to Review/analyze Alerts/Cases with active investigation of customer profile, detection scenario logic and the related transactions which have breached the Detection Scenario logic and take prompt /appropriate actions.
- Promptly identify and highlight suspicious transactions to the DMLRO with complete investigations/documentations for necessary action.
- Having strong understanding of relevant regulatory requirements and industry best practices.
- Ensure adherence to the Central Bank regulations, the Federal Law and best practices relating to AML/CTF, building and operating the necessary systems, policies and procedures.
- Prompt execution of any regulatory (CBUAE) driven requests: EDD, Search & Freeze notices, LEA requirements.
- Timely updation of Internal Watch list/ Blacklists.
- Ensure complete investigation on all alerts in line with the related Policy/ Procedures and Regulations/Guidelines.
- To handle end to end AML/CFT investigations for certain cases in close coordination with the DMLRO.
- To draft STR/SAR's and ensure filing on time as per regulatory requirements with complete documentation and maintaining the records with complete confidentiality.
- Conducting periodic reviews of internally monitored customers to ensure that there are no AML/CFT concerns.
- Maintaining effective coordination with Business Units and ensure that all inquiries/investigations received are handled properly and responded in timely manner.
- Updating AML/CFT related various MIS's including but not limited to alerts, STR/SAR's, IEMS, etc.
- To participate to conduct AML/CFT related UAT's with proper test cases, POC/POV's, implementations, enhancements and AML/CFT related AI/ML tools with detailed feedback and in close coordination with the DMLRO and Head of FCC/MLRO.
- Promptly respond to all queries related to AML/CFT and related issues raised by branches and departments.
- To be constantly updated with local and Global AML/CFT related updates and prepare advisories for the business stakeholders.
- To be updated with AML/CFT regulatory requirements and International standards and ensure that all related Policy/Procedures, systems and processes are in line with those requirements.
- To handle any other project/task assigned by the DMLRO, Head of FCC/MLRO and Chief Compliance Officer.
- To ensure complete adherence of the banks policy and procedures.
- To maintain highest standard of confidentiality, professional conduct, ethical standards and integrity in the provision of services/activities and interactions in the department. To avoid conflicts of interest and act in the best interests of the organization.
Qualifications & Experience
- Bachelor's Degree
- ACAMS certification or equivalent
- Minimum five years of professional experience in AML particularly transaction monitoring.
- Knowledge and hands on experience of IT/system upgrades, enhancements and conducting UAT's related to Transaction Monitoring systems.
- Effective communication skills in English and Arabic is preferable.
- Local experience is desirable.
- Knowledge of UAE and International AML / CTF / Sanctions requirements.
- Knowledge of AML/CFT/PFWMD and EDD processes, AML/CFT tools, systems and applications.
