Mar 06, 2018

Compliance Officer Jobs - Emirates NBD

  • Emirates NBD
  • Dubai - United Arab Emirates
Full time Accounting and Auditing Jobs Banking and Financial Services Jobs

Job Description

Job Title:  Compliance Officer

Company Name: Emirates NBD  

Location: Dubai, United Arab Emirates (UAE)

 

Job Summary: The Compliance Officer will join the Compliance Organization Unit which is responsible for ensuring that the Bank complies with all relevant external laws and regulations applicable in the various jurisdictions that the Bank operates in. Significantly this includes compliance with Sanctions Anti Money Laundering AML and Counter Terrorist Financing CTF requirements not only of the countries that the Bank operates in but increasingly there is an expectation of compliance with those of key US and EU regulators. The incumbent is a backup for the AML Manager who is responsible for managing the Groups legal obligation to report suspicious activity to UAE Central Banks AMLSCU All suspicions raised in ENBD UAE must be fully assessed in line with UAE regulations and AML laws in order to make a decision whether or not it should be reported as a suspicious activity report to the UAE Central Bank This position is responsible for managing the team with the mandate to fully investigate and review suspicious activity reports and as a result this position is a key position to manage submission of SAR and dealing in a timely manner with responses from the UAE Central Bank. Additionally the role holder will play a key role in embedding AML Compliance requirements including Know Your Customer KYC in line with the above responsibilities for the retail business segment.

Primarily this includes setting the mandatory procedures for the business to follow to comply with all relevan local and international regulatory requirements. The role will have responsibility for managing a team of 510 experienced AML staff specialized in review investigation and formulation of SARs on behalf of the Bank

 

Key Duties and Responsibilities:

  • To support in building a strong AML Compliance team with the required skills to support Business and Compliance initiatives
  • Ongoing development of the AML Compliance unit and providing adequate training and guidance to the team
  • Ensuring the AML compliance Team meets internal service standards and appropriate turnaround times with business
  • Review the existing AML Compliance framework procedures and guidelines on an ongoing basis and establish or update procedures and guidelines
  • Endeavor to continuously improve the AML framework for the identification management monitoring and reporting of SAR risks and issues
  • Assist and guide the Compliance units to implement proper processes at level 1 Tanfeeth for transaction monitoring and implementing standards to ensure the group maintains best in class AML transaction monitoring practices framework procedures and guidelines on an ongoing basis and establish or update procedures and guidelines
  • Endeavor to continuously improve the AML framework for the identification management monitoring and reporting of SAR risks and issues
  • Assist and guide the Compliance units to implement proper processes at level 1 Tanfeeth for transaction monitoring and implementing standards to ensure the group maintains best in class AML transaction monitoring practices Keep abreast of AML regulatory developments locally and internationally industry best practices and initiatives and advise management accordingly
  • Provide guidance and advice to Business on applicable rules regulations group policies and compliance processes and procedures relating to AML Compliance matters
  • Functioning as AML compliance advisor to the business by guiding and advising management and staff on AML and KYC regulatory and related matters
  • Providing timely reviews and advice on AML compliance related matters
  • Using MI and trend analysis to ensure thresholds and detection scenarios are regularly tested and tuned in line with Policy requirements
  • Ensuring that all SARs are reported directly to UAE Central Bank AMLSCU in a timely manner and within guidelines
  • Ensuring that all SARs submitted to the UAE Central Bank meet the quality expectations of the Central Bank
  • Ensuring relevant Central Bank instructions are acted upon in a timely manner and followed as required
  • Raising highlighting any concerns or observations to the management to enable proactive decision making at a senior level.
  • Providing the necessary progress updates around addressing AML Compliance audit observations to ensure timelines are met and the appropriate updates are given to Head Deputy AML RO and Head Business Compliance.
  • Taking the necessary actions to close out any AML Compliance audit observations or where dependent on other units systems or resources following-up until such closure has taken place

 

Qualifications, Skills and Experience: 

  • The applicant must hold a degree qualification
  • Professional certifications in AML from an internationally recognized body is desirable
  • The incumbent will have at least 7 years of banking experience in a recognized regulated market of which at least 5 years must be in Compliance AML roles
  • Previous experience in similar role UAE banking regulatory experience preferred
  • Previous experience in managing staff
  • Comprehensive knowledge of local AML Compliance requirements and international best practice
  • Analyze and understanding AML regulations and regulatory requirements

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