Senior Manager, Sanctions Governance.

About Commercial Bank Of Qatar

Job Summary

Leadership & Management

• Manage a team responsible for decision-making and analysing sanctions alerts in a timely and effective manner.
• Manage, monitor and test performance of sanction screening tools e.g. Firco Continuity, Firco Trust, Firco Multi-Law System and Firco List Management System.
• Efficiently manage and handle all correspondent banking queries related to transactions/remittances queried because of OFAC, EU, UK, UN and NCTC and other international sanctions.

Sanctions Awareness & Advisory

• Identification of the latest sanctions guidelines issued by International Sanctioning bodies that could impact The Commercial Bank’s operations.
• Remain current and up to date with sanctions laws and regulations, including OFAC, EU OFAC, EU, UK, UN and NCTC and other international sanctions.
• Interact with Senior management and cross-related functional divisions to advise and raise awareness of sanction trends, emerging issues, remedial actions or enhancements to the Bank’s Sanctions program.
• Provide advice to top management on high-risk transactions, sanction related issues.
• Liaising and seeking advice from external legal consultants and solicitors on sanction-related issues as and when required.
• Assist and provide advice/guidance to Qatar Central Bank (QFIU), Qatar Financial Information Unit (QFIU), National Anti-Money Laundering and Terrorism Financing Committee (NAMLC) as and when required.
• To discuss and highlight any compliance-related or sanction-related issues in the product approval process as required.

Training And Development

• Recommending ways to enhance or change existing controls and/ or determining when new controls are necessary.
• Identifying training requirements related to sanctions.

Analyse

• Analyse sanctions direct and indirect legal and reputational risk in high-risk transactions, client onboarding and conducting periodic reviews on same.
• To analyse impact of sanctions, identify relevance for The Commercial Bank and developing suitable mitigating strategies, policies and procedures to ensure sanction compliance.
• Ensure proper maintenance of internal sanctions related watch lists, internal records related to the sanctions programme.

Review

• To review / highlight / opine compliance related issues in the various draft agreements as and when required that the business may execute.
• Reviewing & drafting departmental policies, procedures and manuals as and when necessary/required.
• Reviewing Risk participation contracts, new international business deals and account opening of high-risk customers and provide sanctions advisory to ensure that The Commercial Bank remain compliant with the International and Local sanctions.

Bau Responsibilities

• Perform bank-wide risk assessment to identify the Bank’s exposures related to the risk of TBML and violations of local/International Financial Sanctions including but not limited to the sanctions of UNSCR, OFAC, UK-HMT, EU, and NCTC etc.
• In view of the bank’s exposure to the risk of TBML and violations of local/ International Sanctions, develop appropriate risk strategies by enhancing the bank’s controls related to TBML and the risk of violation of international sanctions e.g. the development of appropriate Policies, Procedures, Systems and Controls.
• Work collaboratively with the team to provide advice to business with respect to applicability of policies, standards, and implementation of the financial/ economic sanctions program and regulatory changes.
• Provide oversight in relation to the payment screenings and ensure that appropriate and swift actions are taken in relation to the payments related to the blocked parties. Also, ensure that payments are not blocked for any undue reason to enhance the customer experience.
• Provide timely, accurate and sound advisory related to payment with complicated implications of local/ international sanctions.
• Analyse data, preparing and presenting reports related to sanctions screening, risk assessments, and monitoring of sanctions-related issues and escalations with senior management and correspondent banks.
• Provide input on new business initiatives, new products, and advise how to optimally utilize third-party vendor data and scenarios for sanctions screening and TBML monitoring purposes.
• Partner with functional partners, as applicable, to ensure potential risks are appropriately vetted and addressed. Identify and escalate to the Head of AML/CFT Unit the material risks and significant instances of non-adherence to the bank policies and procedures by the accountable front-line units that are appropriately reported.
• Monitor adherence to the Commercial Bank’s Sanctions Policy and relevant procedures, staying current on key Sanctions regulatory changes, key enforcement actions and related industry trends.
• Oversee adherence to procedures and processes, to ensure compliance with the relevant policies and procedures by ensuring that front-line units meet required standards. Promoting global consistency of Sanctions compliance practices and policies within the business lines.

Required Qualifications

• Master degree in economics, business, law, accounting or equivalent.
• CAMS or CGSS is preferable.

Required Experience

• At least 15 years’ of relevant experience in Sanctions Compliance and TBML in large international banks, including at least 7 years in positions of managerial/ supervisory roles in a well-reputed bank.

Knowledge & Other Skills

• Excellent English communication skills (mandatory)
• Excellent knowledge of local and international sanctions, including but not limited to UNSCR, OFAC, UK-HMT, EU, and NCTC etc.
• Excellent data analysis skills
• Good planning and organising skills
• Advanced skills in the use of Microsoft Office, including MS Excel and PowerPoint
• Strong people management skills to manage and develop a diverse team
• Diligence, resilience and ability to work under pressure
• ****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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