Company Overview:
This leading financial institution serves over 4 million customers through a network of 1,400 branches and 1,100 ATMs. As an international bank with a presence across four continents, it excels in branchless banking with its advanced platform. This bank offers offers 24/7 access via top-tier Internet Banking services.
Job Summary
This position will be responsible to ensure bank's policies, procedures and relevant laws and regulatory regulations are compiled in letter & spirit to minimize operational, legal & regulatory risks.
This role involves leading the development and implementation of robust compliance framework processes and to maintain the highest standards of regulatory compliance, mitigate financial crime risks, and protect the integrity of the company's operations.
Requirements
Job Responsibilities
- Consistent application of UBL's AML/CFT/CPF policy, Standards and allied procedures
- Ensure effective implementation of the Bank's FCC strategy to ensure vertical alignment and horizontal integration with other interfacing departmental strategies
- Review policies, procedures, and products, recommend required changes if any to align them with the local regulatory requirements and providing day to day advisory, wherever sought
- Conduct periodical branch visits to discuss, assess and address the regulatory compliance related issues and concerns
- Oversee and monitor the reviews as per the risk based Compliance Review Plan
- Compliance Resource management in consultation with HR including Athena Team
- Provide Subject Matter Expert guidance to Business and Operations on Sanctions, especially legal bindings and generally regimes identified by bank policy
- Clear Understating of Managing FI Relationships and their RFIs
- Oversee the review of Unusual Activity Reports for reporting of STRs to the regulator
- Oversee the risk based compliance programme for UAE branches
- Reviewing AML/CFT/CPF Policy & Standards to ensure these are consistent with regulatory requirements and updating the same upon change in the applicable regulatory regime
- Participate in Compliance Focus Group and other formal and informal meetings with staff members and management to discuss and provide timely updates on status of Bank's compliance with the applicable regulatory requirements in particular AML/CFT/CPF
- Design and conduct periodic training of the staff on the latest & significant regulatory requirements including AML/CFT/CPF in liaison with HRD
- Act as point of contact and for CBUAE. Keep strong relationship with the Central Bank and other regulatory authorities and ensuring provision of required information to the regulators in a timely manner. Further, Coordination with other regulatory bodies and law enforcement entities
- Act as coordinator for CB UAE examinations including thematic reviews, baseline examination, assets quality review and any other reviews initiated by the regulator
- Ensuring effective coordination for closure of examination finding, Compliance risk identified or any other regulatory remediation plans
- Identification, monitoring, remediating and reporting of regulatory risk related to UAE franchise to the Compliance Committee at Head Office level. Ensuring timely and effective closure of actions suggested by the compliance committee on franchise risk escalated to HO
- Submit periodic reports to the members of the concerned management on issues of regulatory significance and tracking for resolution
- Implementing Compliance Risk Management framework in line with the applicable regulatory requirements and with coordination & direction from Head Office
- Participating in the Compliance Committee of Management, as and when required
Benefits
Minimum Qualifications:
- Minimum Bachelor degree and preferably a Master's Degree
- CAMS or Certified from International Compliance Association
Minimum Experience:
- 10+ years banking experience, out of which 5 years in compliance / Internal Audit /Risk function
Job Specific Skills:
- Lead the Compliance function to achieve the outcomes set out in the Bank's Compliance Policy and Conduct Principles: Fair and compliant outcomes for Clients; Financial Crime Prevention; Promote Compliance culture
- Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters
- Clear Understanding of Local Laws & Sanctions, Regulations and other leading Sanctions Regimes
- Managing FI Relationships w.r.t. Compliance and especially FCC Segment and handling of RFIs
Regulatory approval:
The position requires approval from the Central Bank of UAE