AVP- KYC Review Approval-Corporate Emiratized Role

1 week ago

Abu Dhabi, Abu Dhabi, United Arab Emirates First Abu Dhabi Bank Full time

JOB PURPOSE

In accordance with UAE and international Anti-Money Laundering Requirements, banks such as FAB are obliged to perform Know Your Client (KYC) reviews on all new clients they adopt and periodic reviews of these clients.

To lead and manage the KYC & Onboarding function, ensuring it is fit for purpose and meets international best practice standards. The centralized team will perform the client onboarding approval role, which can be either new onboarding trigger events or periodic reviews. It will ensure the documentary evidence meets internal guidelines and regulatory expectations. Additionally, adherence to Group KYC standards needs to be enforced.

KEY ACCOUNTABILITIES:

Corporate and Investment Banking Group

A team leader for the centralized client onboarding approval team which will conduct the following activities:

  • Review and approve KYC Customer Due Diligence (CDD), focusing on Corporate & IB.
  • Main stakeholders include Clients Coverage Bankers (Region/Global), KYC Operations Team, and Compliance Offshore Support Team.
  • Experience in risk management and proven ability to support the development of business activities while applying risk management disciplines and controls.
  • Previous experience in developing relationships by communicating, influencing, and negotiating effectively with business heads, senior managers, consultants, and technical experts across the department and businesses.
  • Understand strategic clients and their longer-term requirements by engaging with Coverage Bankers during the Business Case and client selection process.
  • Ensure adherence to all internal policies/procedures and external regulatory requirements at all times.
  • Experience in handling post-facto transaction reviews for correspondent banking clients, with knowledge of key principles like Nesting & Downstream activities being an added advantage.
  • Perform post-facto transaction analysis for correspondent banks annually and flag any nested payments to Compliance & Coverage Bankers.
  • Support AVP Coverage Bankers and Business Compliance in conducting Enhanced Due Diligence (EDD) meetings with Correspondent Banks when applicable.
  • Conduct independent analysis of high-risk factors and escalate relevant cases to Financial Crime Compliance teams (FCC).
  • Ensure adherence to the escalation and abandonment policy.
  • Maintain discipline in partnership with local business and communicate consistency to stakeholders to ensure cases are accepted through approved channels.
  • Review questionnaires such as Wolfsberg AML & Sanctions appropriately.
  • Manage the approval process for CDD delivery while supporting various change management and digital initiatives, including providing advisory, drafting SOPs, checklists, and internal memos.
Relationship Management
  • Develop and manage relationships with Corporate & Investment Banking stakeholders across business lines and supporting functions.
  • Facilitate efficient client onboarding and offboarding through strong support and communication with internal and external clients.
  • Deliver fair outcomes for customers and ensure conduct maintains the orderly and transparent operation of financial markets.
People Management
  • Manage the KYC & Onboarding team by tracking objectives and motivating staff to maximize performance.
  • Support the Department in delivering KYC and onboarding-related training.
  • Provide guidance and on-the-job training for staff and conduct knowledge-sharing sessions.
  • Act as a role model to direct and indirect reports, driving adherence to organizational values and ethics, and fostering a value-driven culture within the bank.
Continuous Improvement
  • Identify opportunities for continuous improvements to CIB onboarding and KYC-related systems, processes, and practices based on risks and control deficiencies identified.
Reporting
  • Prepare and present MI related to the Investment Banking segment for onboarding & KYC on a periodic basis.
  • Update exceptions in the CDD Exception tracker and track to resolution, circulating the tracker to relevant stakeholders monthly.
  • Monitor monthly KYC KRI/KPI reports.
  • Interact with stakeholders to help KYC teams achieve KIRs/KPIs.

Qualifications:

Minimum Qualification

  • Bachelor's degree or higher in management, banking, or finance, preferably with certification in compliance, KYC/AML/CFT, financial crime, or risk management.

Minimum Experience

  • Minimum of 7-10 years of experience in a reputable financial institution.
  • Minimum of 3-5 years of experience within an onboarding and KYC role.
  • Relevant experience (AML/KYC/compliance related) with an understanding of financial institutions' KYC requirements.
  • Understanding of the end-to-end KYC and client onboarding processes.
  • Familiarity with AML/KYC regulations and industry guidelines (e.g., UAE Regulations, FATF, JMLSG 3rd, 4th & 5th EU Money Laundering Directive, US PATRIOT Act).

Remote Work:

No

Employment Type:

Full-time

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