Knowledge:

• AML-CFT, Sanctions and Proliferation Financing Regulatory Framework – UAE
• Relevant Compliance/Control Systems
• AML-CFT Risk Monitoring, Management and Mitigation
• Relevant Compliance Systems – Technical

Core Responsibilities:

• Gap analysis on existing or new regulatory recommendations, guidance, notices, or obligations, including stakeholder liaison, formulating governing and executing action plans.
• Develop/formulate and execute a regulatory change management methodology/framework, develop and communicate action plans, and apply appropriate governance such as tracking, progress reports and escalation.
• Responsible for Regulatory Liaison – Specific point of contact for assessment and timely dispatch of all incoming and outgoing AML-CFT regulatory communication.
• As assigned by the Head of AML-CFT, counsel and train AML-CFT team members and/or impacted stakeholders on regulatory requirements.
• Manage the Banks’ AML-CFT Issue Management tracker, inclusive of observations/findings from all sources, their Compliance status, remediation timelines, followed by resolution tracking, reporting and escalation.
• Assess the appropriateness of the Bank’s AML-CFT framework based on Regulatory obligations/requirements and international best practices, and report Compliance status, with remedial action plans including timelines.
• Assist with AML-CFT, Sanctions Compliance and CPF Policies and Procedure updates.
• Lead the Testing and Tuning of the Bank’s AML Transaction Monitoring System, Sanctions Screening Systems and Customer Risk Assessment Model on a periodical basis, aligned with the Bank’s AML-CFT Policy & Procedures, and regulatory obligations/expectations.
• Recommend enhancement or changes to the system parameters or thresholds to the Head of AML – UAE/DIFC basis outcome of testing conducted.
• Ensure monitoring of appropriate customer and transactional data or information from satellite systems to respective alert generating engines, followed by reporting to the Head of AML – UAE or the MLRO along with root cause analysis and remedial action plan – if applicable.
• Highlight to the Head of AML – UAE or the MLRO on the status of model testing / validation, and follow-through with resulting actions from past validations conducted.
• Engage with respective stakeholders to ensure timely execution of model validation exercise for applicable models.
• Enhance, strengthen and apply the management information reporting framework, including daily reports, weekly reports, and periodical reports to the relevant committees, such as the AMLMC or the Board AML Committee.
• SPOC for bank-wide projects that could impact the Bank’s AML-CFT, Sanctions or CPF framework, as assigned by the Head of AML – UAE.
• Support the team with internal AML technology projects to have a positive impact on the function’s overall effectiveness of efficiency.