Director – Financial Crime

About This Role

Job Purpose:

The Director – Financial Crime manages the policies and procedures related to KYC & AML-CFT risks eUAE Central Bank and UAE Securities and Commodities Authority (SCA) regulations.

The role encompasses two key responsibilities:

1. AML-CFT Risk Management & Transaction Monitoring : Overseeing the AML-CFT transaction monitoring framework, managing a team responsible for processing alerts, maintaining and enhancing the transaction monitoring system, and ensuring compliance with regulatory requirements.
2. Compliance Monitoring Program : Leading EIBank’s financial crime risk assessment (FCRA), overseeing corrective actions for high residual risks, ensuring effective implementation of KYC and AML-CFT policies, and managing regulatory engagements, including internal and external audits.

The successful candidate will play a critical role in ensuring the firm’s compliance framework is robust, effective, and aligned with UAE regulatory expectations.

Key Responsibilities:

AML-CFT Risk Management & Transaction Monitoring

• Lead the AML-CFT compliance program in alignment with UAE Central Bank and SCA regulations.
• Manage the transaction monitoring team, ensuring timely and accurate review, escalation, and resolution of alerts and suspicious transactions.
• Serve as the owner of the transaction monitoring procedure and IT system, ensuring it remains effective, up-to-date, and in line with regulatory expectations.
• Oversee AML risk assessments, ensuring a strong control environment to mitigate financial crime risks.
• Review Suspicious Transactions and Suspicious Activity for submission to the MLRO.
• Maintain strong engagement with business units to ensure adherence to AML-CFT policies.

Compliance Monitoring & Oversight

• Lead the Compliance Department’s monitoring program across all business units.
• Oversee and execute the Financial Crime Risk Assessment (FCRA), ensuring residual risks are identified, corrective actions are implemented, and senior management is informed.
• Present the outcome of the FCRA with the MLRO to senior management, ensuring strategic decisions are informed by compliance risk insights.
• Conduct independent compliance reviews and testing to assess adherence to AML-CFT and KYC policies.
• Ensure effective implementation of KYC and AML-CFT policies, conducting periodic controls and audits.
• Act as the primary liaison with internal and external auditors, regulators, and law enforcement agencies on AML-CFT matters.
• Oversee regulatory reporting requirements related to AML-CFT, ensuring timely and accurate submissions.

Regulator Engagement & Governance

• Support the MLRO to engage with the UAE regulators on AML-CFT compliance matters
• Ensure the firm’s compliance framework aligns with evolving UAE AML-CFT regulations, industry best practices, and international standards.
• Provide strategic recommendations to senior management and the Board on AML-CFT compliance risks and mitigation strategies.
• Deliver AML-CFT training and awareness programs across the organization under the MLRO guidance.

This is a high-impact leadership role requiring deep expertise in AML-CFT and compliance monitoring, strong regulatory engagement skills, and the ability to proactively manage financial crime risks in a dynamic regulatory environment.

Management Responsibilities:

• Responsible for distribution of tasks and responsibilities among employees under your supervision: 1.Compliance Monitoring team 2. Transaction Monitoring team
• Supervision of staff’s work and tasks, with accountability to ensure delivery of and compliance with tasks.
• Overall responsibility for ensuring employees’ competence and appropriateness in line with the above, but also responsible for escalating and taking an appropriate course of action in case of non-compliance on the part of the employee.
• Key contributor to achieving EIBank’s Emiratisation targets.