AVP, AML Transaction Monitoring

Job Specific Accountabilities & Strategic Contribution

• Responsible for owning a segment for AML alerts and investigations
• Ensuring timely review of all alerts and investigations as per CB UAE guidelines
• Responsible for filing STR (Suspicious Transaction Report) with Group MLRO before they are sent to CBUAE
• Management of correspondent banking alerts and working with FI partners of the bank with the queries
• Authorizing restrictions on the customer account where money laundering concerns are suspected and recommending client exits if required.
• Testing and providing feedback on new scenarios, threshold limits and undertaking an impact assessment
• Supporting CB UAE audits and process walk throughs
• Training of resources with new scenarios and emerging typologies
• Review of the periodic circulars issued by the Central Bank and making amendments to the procedures and controls to align them with regulatory environment
• Active collaboration with business to manage client experience while handling AML queries and other control environment issues
• Stay abreast with the control environment, control appropriateness and effectiveness and control testing tools and techniques available within the Bank and work closely with the AML Transaction Monitoring Team leader
• Work with technology in measuring the appropriateness and screening capabilities of the product platforms with the Surveillance systems of the Bank
• Identifying automation and tuning opportunities in the business unit that not only help to bring efficiency
• Effectively contribute to define the training and competency framework for the AML Teams Onshore/Offshore
• Effectively manage and supervise the team by defining team’s objective to maximize performance
• Identify resource requirements to efficiently manage the FLOD Surveillance Teams ensuring the right set of skills and knowledge are maintained within the Team
• Team development, performance management and consequence management for repeat failures
• Act as a role model to direct and indirect reports to drive adherence to organizational values and ethics and foster a value driven culture within the bank
• Identify opportunities to tune the screening engine to reduce false positives in the business balancing risk and efficiency
• Supporting BRD development for changes, creation of CR and UAT testing
• Recommend, initiate and implement optimizations to screening methodologies and parameters in order to maximize cost efficiency and effectiveness of FAB’s regulatory compliance locally as well as for all jurisdictions where FAB operates
• Working closely with the Technology, Data & Reporting Team on KPI’s and KRIs for reporting to senior management

Knowledge and Expertise

• Regulatory compliance, Sanctions, PEP and Adverse media policies & guidelines relevant to FAB’s international network

Qualifications

• Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, transaction monitoring/sanctions screening, KYC/AML/CFT, financial crime or risk management
• ACAMS certification
• Minimum of 8-12 years of experience in a reputed bank with min of 5 years of experience in AML/Group Compliance function
• Excellent communication skills, written and spoken
• Experience to handle large teams and different locations
• Positive and enthusiastic attitude
• Excellent interpersonal and managerial skills