Assistant Compliance Manager - Sanctions Unit
Key Skills for This Role
Full Job Posting
Responsibilities
- Sanctions Compliance:
- Ensure that Payment Screening and Customer Screening programs are running effectively in the bank, in line with its AML & KYC Policy and the regulatory requirements.
- Maintain / update bank's private blacklists in the Bank's payment screening system.
- Review Sanctions referrals received from Operations/Business on customers Payments & Trade transactions and provide decision in line with Bank's AML & KYC policy and multiple International sanctions programmes.
- Review and mitigate Sanctions risk associated with bank's correspondent banking business.
- AML Monitoring:
- Ensure effective AML monitoring, covering all relevant accounts/product/activities in line with the bank's policy and regulatory guidelines.
- Conduct AML review of customer accounts based on AML Alerts and Analytical reports generated by the unit.
- Responsible for conducting money laundering related investigations by analyzing customer transactions/ trend, drawing conclusion, and drafting Suspicious Activity Report for submission to Financial Intelligence Unit (FIU).
- Support business/ operations by providing compliant solutions to regulatory requirements and intervene where necessary to stop a transaction / process / business proposal - seeking guidance from Compliance Manager.
- Review of Compliance Systems:
- Review & recommend changes in Compliance systems parameters, i.e., AML Monitoring System and Payment Screening System of the bank.
- Co-ordinate closely with Technology and vendors to ensure that these systems operate at optimum level at all times, and test them at regular intervals.
- Actively participate in applications, systems and product development and provide value added recommendations to ensure that all systems and products in the bank have appropriate controls to ensure compliance with bank's Sanctions and AML policy.
- Test Compliance systems on regular intervals and proactively escalate critical issues and recommend solution.
- Ensure that all statutory reports and/or request for information received from regulators are handled in timely manner.
- Perform additional tasks / conduct Compliance related investigations as required / determined by Manager Compliance / Head Of-Compliance, identifying any issues / concerns and report findings/recommendations for corrective action as required.
- Devise and generate various Analytical reports for enhanced AML monitoring of customer accounts.
- Generate analytical & statistical reports using extensive data mining applications from bank's data ware house.
- Highlight risks/point of failures in existing systems/process and advise solution/strategy to mitigate them.
- Data integration with different back office system to enhance monitoring process and respond to regulatory requests.
- Recurring data analysis to project new scenarios and methodologies to complement existing monitoring process in lieu with business requirements
Qualifications
- Graduate with 5-7 years banking/AML/Sanctions Systems experience.
- Good knowledge and understanding of local AML/CFT legislation and international best-practices in Compliance
- Knowledge and Understanding International / UN Sanctions.
- Systems expert with advanced knowledge of MS Excel and Business Object (BO) reports and Banking Systems.
- Computer literate and good command over spoken and written English.
- Good presentation skills.
- Efficient and logical approach to problem solving.
About Mashreq
A leading financial institution providing comprehensive banking and investment services.
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