Job Purpose
The Assistant Manager, AML will manage end to end AML/CFT Unit under the direct supervision of the Head of FCC/MLRO for effective administration of the Banks 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.
Responsibilities
- Promptly manage and assign all the alerts generated on daily basis.
- 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.
- Provide appropriate recommendations/comments for disposition of alerts/cases on the investigation performed for an alert/case as a checker.
- Ensure that all relevant alerts/cases for investigation are based on the ageing of the alert/case and are actioned timely with proper comments and maker/checker process.
- Promptly identify and highlight suspicious transactions to the Head of FCC/MLRO with complete investigations/documentations for necessary action.
- To have an oversight of alerts/cases handled by the team to ensure that there are no gaps from regulatory and policy/procedures perspective.
- To handle all staff alerts in close coordination with HR and Head of FCC/MLRO as per the policy/procedures.
- Ensure complete investigation on all alerts in line with the related Policy/ Procedures and Regulations/Guidelines.
- Managing IEMS and other regulatory requests on time as per the requirements.
- Drafting Semi Annual MLRO report in coordination with the Head of FCC/MLRO and ensuring timely submissions.
- Ensuring to coordinate with the relevant stakeholders for completing Annual AML/CFT returns related to CBUAE on time.
- To ensure to regularly review the AML/CFT application in terms of enhancements and optimizing the scenario parameters, conditions, etc. and coordinate with the relevant stakeholders for automating the related processes.
- To handle end to end AML/CFT investigations for certain cases in close coordination with the Head of FCC/MLRO.
- To draft STR/SARs in coordination with the relevant team member and ensure filing on time as per regulatory requirements with complete documentation and maintaining the records with complete confidentiality.
- Provide proper AML/CFT advisory to the concerned stakeholders based on the regulations and banks approved policy/procedures in consultation with the Head of FCC/MLRO.
- To ensure all the related AML/CFT related tools, systems, applications are up and running without any issues and are updated as per the regulatory requirements and banks policy/procedures.
- To participate in Correspondent banking Questionnaires in coordination with the relevant stakeholders, Sanctions and Client Acceptance & Advisory team leaders and Head of FCC/MLRO for timely deliveries. To participate in preparing and finalizing banks Wolfsberg Questionnaire in coordination with all the stakeholders and Head of FCC/MLRO.
- Maintaining and updating proper lists related to AML/CFT in close coordination with Head of FCC/MLRO.
- Reviewing new products/services in terms of AML/CFT and classifying them proper risk ratings in coordination with the Head of FCC/MLRO and Team Leader Client Acceptance and Advisory.
- Conducting periodic reviews of internally monitored customers to ensure that there are no AML/CFT concerns.
- Maintaining and updating High risk and Sanctioned countries as per latest updates.
- Ensuring that all AML/CFT related controls are embedded within the bank.
- Identifying AML/CFT risks within the bank and ensure that there are proper controls to mitigate the risks.
- Maintaining effective coordination with Business Units and ensure that all inquiries/investigations received are handled properly and responded in timely manner.
- Maintaining MIS / track and follow up with the relevant stakeholders for timely resolution of pending exceptions/alerts/cases and highlighting the same to the Head of FCC/MLRO for review and necessary action.
- Maintaining and updating AML/CFT related various MISs including but not limited to STR/SARs.
- Updating all AML/CFT Policy/Procedures, AML/CFT Policy statement and related Training/E-Learning materials on time.
- To conduct and manage AML/CFT related UATs with proper test cases, POC/POVs, implementations, and AML/CFT related AI/ML tools.
- To draft AML/CFT BRDs, business cases etc. for new and/or existing applications.
- Promptly respond to all queries related to AML/CFT Application and related issues raised by branches and departments.
- Conduct AML/CFT examinations/reviews of the assigned areas, for identification, monitoring and reporting of suspicious activities.
- Support in conducting AML/CFT EWRA and any other mandated assessments and reports & Compliance Trainings to Bank staff.
- 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.
- Handling Regulatory/Internal Audit and External Audit requirements and drafting responses to the related reports.
- To ensure to timely complete Annual Compliance Plan.
Qualifications
- Bachelor's degree in business, Banking, Finance, Economics or any other related discipline.
- 7-10 years of relevant experience with minimum 5 years as Deputy Money Laundering Reporting Officer.
- Experience of managing a team.
- Previous experience in Compliance/Regulatory/ Audit function related to banking industry.
- Local experience is desirable.
- Thorough knowledge of UAE regulatory and International AML / CTF requirements.
- Ability to develop and maintain policies and procedures in relation to AML/CFT.
- Knowledge of CDD and EDD processes, tools and systems.
- Understanding of AML/CFT strategies and processes.
- Knowledge of AML / CTF regulations and (FATF) standards.
- Experience of Anti Bribery and Corruption activities would be desirable.
- Professional certification such as the CAMS/ AMLP or ICA would be desirable.
