DMLRO - Senior Manager, AML/CFT Governance AML/CFT Governance

About Commercial Bank Of Qatar

Job Summary

• Responsible to manage AML/CFT & Sanctions governance functions, ensuring AML/CFT & Sanctions policies and procedures are updated with local regulatory, FATF guidelines and external regulations and that an appropriate advice is provided to the 1LOD and 2LOD (line of defence) within the Bank.
• ****Key Accountabilities****
• Organise and supervise the activities and work of subordinates to ensure that all work within a specific area of the activity is carried out in an efficient manner which is consistent with operating procedures and policy.
• Provide on-the-job training and constructive feedback to subordinates to support their overall development.
• Contribute to the preparation of the budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues and areas of unsatisfactory performance are identified
• Implement and oversee the AML/CFT & Sanctions framework
• Develop, maintain and update the Bank’s policies and functional operating procedures in the area of AML/CFT & Sanctions and direct the implementation of related processes and controls, so that all activities are conducted in compliance with risk, audit, legal and regulatory requirements while delivering a quality, cost-effective service.
• Supervise the L3 Sanctions screening process by the Sanctions Governance team to ensure that the Bank and its customers comply with applicable national and international sanctions, and all activities involving sanctioned parties are detected and blocked or frozen
• Supervise the L3 AML monitoring process by the AML Governance team to ensure that all unusual and/or suspicious activities are being detected and reported in compliance with applicable AML regulations in order to protect the interests of the Bank from regulatory criticism, financial penalties and reputational damage.
• Address all queries from the 1LOD and 2LOD of the Bank regarding applicable AML/CFT & Sanctions regulatory requirements to enable them to take appropriate course of action within their units.
• Execute and assess KYC remediation
• Develop AML/CFT & Sanctions training material and deliver necessary AML/CFT & Sanctions training for Bank’s employees
• Design and execute AML/CFT & Sanctions annual plan
• Manage applicable lists used by the Bank in Sanctions screening process and update them accordingly
• Review and approve EDD escalations of High Risk customer, including PEPs, and their periodic assessments
• Oversee the timely identification of ML/TF & Sanctions incidents, their resolution, and escalation to the Head of Financial Crime and Regulatory Compliance
• Act as the point of contact for the Bank’s Internal Audit on all AML/CFT & Sanctions related matters and respond to the Internal Audit on related action items
• Develop and oversee KPIs for AML/CFT & Sanctions team
• Liaise with QCB/QFIU on AML/CFT & Sanctions matters
• Review and approve STR, internal STR and other regulatory reports. Ensure that suspicious transaction reports are accurately prepared and timely submitted to QCB, and that respective databases are updated in order to strengthen CBQ’s capabilities in combating ML/TF
• Produce the monthly AML/CFT & Sanctions Dashboard and present it to senior management
• Deputize for the MLRO/DMLRO and assume their responsibilities in case of absence
• Oversee the completion and/or participate in Compliance monitoring & testing reviews in the area of AML/CFT & Sanctions
• Perform other related duties or assignments, as directed by senior management.

Required Qualifications

• Bachelor degree in accounting / finance or equivalent.
• CAMS (Certified Anti Money Laundering Specialist) is MANDATORY

Required Experience

• 8-10 years’ relevant experience in Sanctions and Anti Money Laundering in a bank, including at least 5 years in positions of progressively increasing supervisory responsibilities.

Knowledge & Other Skills

• Good knowledge of applicable international AML/CFT & Sanctions standards (FATF, Wolfsberg Group etc.)
• Good knowledge of applicable AML/CFT and Sanctions laws and regulations
• Knowledge of best international practices in the area of AML/CFT & Sanctions
• Proficiency in oral and written English
• ****Key Interactions****

• Corporate/ Retail/ Private Banking/Correspondent Bank

• Senior Management.
• IT/OPs
• HR

External

• Regulators such QCB/QFIU
• Subsidiaries
• ****Why Commercial Bank?****
• Best Digital Bank in the Middle East 2024 by World Finance and Best Mobile Banking App in the Middle East 2024 by Global Finance.
• An Innovation-Driven, Digital-First Environment where employees work with the latest tools and technologies to redefine banking
• Opportunities for Global Partnerships & International Exposure, connecting employees with global networks and perspectives.
• A focus on Employee Well-being & Work-Life Balance, ensuring a healthy and supportive environment for all team members
• Competitive Compensation & Benefits that ensure our employees are rewarded for their dedication and performance
• A strong Commitment to Diversity, Equity & Inclusion, fostering a culture that values every individual’s unique perspective.
• At Commercial Bank, we don’t just offer careers, We shape futures by pioneering
• digital transformation
• in Qatar’s banking sector, blending
• digital-first
• approach to redefine banking through
• innovative
• solutions.

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