Summary
CBD is a UAE banking institution, and this role oversees customer due diligence for Retail Banking Group relationships in Dubai. The manager oversees onboarding and enhanced due diligence, periodic KYC refreshes, trigger reviews, financial crime risk escalations, and management reporting. The role also guides and coaches the oversight team and works with business, operations, and compliance stakeholders. Applicants need a bachelor’s degree and 7 to 9 years of relevant banking or financial services experience; CAMS or ICA certification is preferred.
The posting
As published on cbd.ae. Pulled from the employer's site and shown as they wrote it.
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
Job Purpose:
The RBBG Due Diligence Oversight Manager is responsible for overseeing customer due diligence and enhanced due diligence activities for Retail Banking Group relationships, including onboarding, periodic KYC refresh, trigger-event reviews, and financial crime risk oversight. The role provides supervision, guidance, and subject matter expertise to ensure that retail individual customer profiles are reviewed in line with internal policies, regulatory expectations, and the Bank’s financial crime risk appetite. The role supports the effective identification, assessment, and management of financial crime risks associated with individual customers, including high-net-worth individuals, non-resident customers, PEPs, FPEPs, RCAs, and other higher-risk customer segments. It also supports the resolution of KYC gaps, financial crime risk escalations, sanctions and name screening matters, and source of funds/source of wealth assessments
Principal Accountabilities:
Onboarding and Enhanced Due Diligence
- Oversee due diligence reviews for PBG customers, ensuring KYC documentation, customer risk assessments, source of funds, source of wealth, occupation, income, and customer profile information are complete and adequately substantiated prior to onboarding.
- Validate customer risk ratings and ensure proportionate enhanced due diligence is performed for higher-risk relationships, including PEPs, FPEPs, RCAs, high-net-worth individuals, non-resident customers with complex wealth structures, and other elevated FCC risk indicators.
- Assess customer profiles, account purpose, expected activity, source of income, source of funds and source of wealth information to ensure consistency and reasonableness.
- Engage with Relationship Managers, onboarding teams, FCC and Regulatory teams, and business stakeholders to resolve KYC gaps and obtain required clarifications while maintaining regulatory and policy standards.
KYC Refresh and Trigger Reviews
- Manage periodic KYC refresh reviews for PBG customers and ensure reviews are completed within internal and regulatory timelines.
- Oversee trigger-event reviews arising from material changes in occupation, source of wealth, residence, nationality, political exposure, transactional behaviour, adverse media, or other financial crime risk indicators.
- Ensure customer profiles remain current, accurate, and aligned with available documentation and observed customer activity.
Governance, MI and Continuous Improvement
- Prepare and present management information relating to onboarding volumes, KYC refreshes, risk ratings, overdue reviews, escalations, and emerging financial crime risk trends across the PBG portfolio.
- Contribute to process enhancements, automation initiatives, RFI management, quality improvements, and control effectiveness across customer due diligence activities.
- Support internal audits, regulatory reviews, thematic reviews, quality assurance observations, and management action plans relating to PBG due diligence oversight.
Team Leadership and Stakeholder Management
- Provide day-to-day guidance to the due diligence oversight team and support consistent, risk-based, and well-documented decision-making.
- Coach team members on KYC, EDD, source of wealth, source of funds assessments, PEP reviews, FCC risk indicators, and regulatory expectations.
- Maintain effective relationships with PBG Business, Branches, Operations, Compliance, and other key stakeholders to ensure timely and controlled outcomes.
Experience & Academic Qualifications:
- Bachelor’s degree from a recognized university as a minimum requirement. Professional certification in AML/Compliance, such as CAMS or ICA, is preferred.
- Minimum 7 to 9 years of banking or financial services experience, with significant exposure to retail banking, private banking, customer due diligence, enhanced due diligence, AML, sanctions, KYC refresh, and high-risk customer reviews.
- Prior experience in Wholesale Banking, Corporate Banking, Financial Institutions, or complex legal entity due diligence is preferred. Proven experience in the assessment of PEPs, FPEPs, RCAs, high-net-worth individuals, non-resident customers, source of wealth reviews, stakeholder management, team leadership, and management reporting is preferred.