Summary
Mashreq is seeking a Manager, AML Compliance to lead AML team operations, complex investigations, monitoring controls and regulatory inspections. The role also includes advising business and operations teams, supporting STR/SAR filings with the FIU, and maintaining AML screening systems and training programs. Applicants should be UAE nationals with a degree, 10–12 years of banking experience and at least 5 years in AML compliance; ACAMS or another recognized certification is required. Appointment is subject to UAE Central Bank approval or no objection.
The posting
As published on mashreq.com. Pulled from the employer's site and shown as they wrote it.
Maintain ongoing awareness/knowledge of all applicable internal/external AML & CTF requirements and existing/emerging legal/statutory environment - identifying any issues that could impact bank.Provide AML advice and guidance to the other ECF staff members/ business & operations.Promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by any of the regulatory authorities and/or international bodies for breach of AML & CTF controls.
- Assist Manager in monitoring compliance to statutory regulations/guidance notes issued by the UAE Central Bank &/or other regulatory authorities.
- Must pro-actively and promptly escalate any critical issues to ensure that the bank is not investigated, charged, fined or publicly castigated by either UAE Central Bank or any other regulatory authority.
- Lead complex, proactive, intelligence-driven investigations, leveraging resources from across the Group to support investigations involving multiple geographies or financial crime typologies.
- Lead the Respective Teams in AML Unit in HO.
- Train and provide guidance to AML Unit including complex investigation team.
- Manage Team Productivity and meet the required target.
- Manage the available resources effectively by creating a well built and dynamic team.
- Manage complex investigations within AML Unit by providing guidance on complete quality analysis for the reviewed cases at the analysis stage.
- Highlight any key Financial Crimes risk throughout the review and analysis of customers’ account to the senior management in the form of Intelligence / Complex Investigation Reports.
- Support MLRO / Delegate for filing STR / SAR with the FIU
- Engage with First Line of Defense (Business Segments) and Auditors on matters related to financial crime risks, due diligence and customer relationship management
Responsibilities
- Implement AML monitoring procedures & controls. Introduce monitoring scenarios & parameters as appropriate; ensure all customer segments / products / activities are covered within the ambit of the monitoring process.
- Provide Head of AML & Sanctions with assurance that all controls required under AML & CTF regulations are embedded within the processes of the bank to avoid any breach and/or establishing relationship with a blacklisted party.
- Manage Regulatory inspections of the AML & CTF area. Act as a focal point to the examiners and facilitate trouble-free examination. Ensure implementation/regularization of recommendations, if any, within the agreed deadline(s). Keep HO Compliance updated with the progress.
- Maintain bank's AML & Customer Screening system at an optimum level keeping false hits/alerts volume at a reasonable level.
- Contribute to development of products, systems, policies and procedures, ensuring appropriate controls for AML & CTF compliance
- To handle and provide guidance on AML related queries which are more intricate in nature.
- Undertake periodic review or self-assessment of key controls to assess the quality and effectiveness. Conduct Compliance Monitoring periodically to ensure there is no lapse of AML & CTF requirements/policies. Report findings and submit recommendations for corrective action, if required.
- Conduct special investigations and/or respond to the Enhanced Due Diligence queries raised by law enforcement agencies and other overseas branches/correspondent banks. Provide feedback (accurate information) within the agreed timelines.
- Manage the AML team resources and create positive synergies amongst the team.
- Solid/Strong People Management skills are essential. Should be able to manage and control the resources within the team.
- Manage the available resources efficiently by creating a well-built and dynamic team.
- Evaluate, train and motivate business/operations staff to enhance their skills and knowledge of evolving AML & CTF regulation. Establish and maintain training programs for the unit and for business/ operations in line with latest regulations.
- Since the appointment of this role requires a notification for Central Bank 'Approval / No objection', it is the incumbent's responsibility to maintain a cordial working relationship with the Central Bank and also act as the focal point for UAECB National Anti-Money Laundering Agency (FIU).
Qualifications
- Graduate with 10-12 years of total banking experience, with at least 5 years of experience in AML Compliance area.
- An understanding of how transactions settle globally.
- Market knowledge of IT tools/ software used for AML monitoring system.
- Good knowledge and understanding of local AML/CFT rules and legislation, and international best-practices/requirements.
- ACAMS Certified/other recognized certification
- Organisational awareness including working knowledge or risks, products, processes and controls
- Computer literate with good knowledge of MS Excel and Business Object (BO) reports.
- Good command over spoken and written English.
- Good presentation skills.
- Efficient and logical approach to problem solving.