Global Head of Financial Crime Compliance

2 months ago

Dubai, United Arab Emirates CAPITEX Full time

**Job Title**: Global Head of Financial Crime Compliance**:
**Department**: Financial Crime Compliance
**Location**: Dubai
**Reports to**: Chief Risk Officer / Board of Directors
**Employment Type**: Full-time

**Requirements**:
***Job Overview**:
The Global Head of Financial Crime Compliance (FCC) will be responsible for overseeing the design, implementation, and ongoing management of the financial crime compliance framework across the fintech bank, a subsidiary of a tier 1 bank. This role will be pivotal in managing financial crime risks including but not limited to money laundering, terrorism financing, sanctions violations, and fraud. The Global Head of FCC will ensure the organization’s transaction monitoring systems, alert clearing processes, and financial crime risk management strategies meet regulatory standards and are efficient, robust, and scalable.

This leadership role involves working closely with senior management, regulators, and external stakeholders to uphold the bank's reputation and ensure that all business operations comply with local and international financial crime laws.

***Key Responsibilities**:
**1. **Strategic Leadership & Framework Development****:

- Develop and lead the global strategy for Financial Crime Compliance in alignment with the bank’s overall risk appetite and regulatory obligations.
- Design and maintain the bank’s FCC framework, ensuring robust controls for Anti-Money Laundering (AML), Counter-Terrorism Financing (CTF), fraud prevention, sanctions compliance, and Anti-Bribery & Corruption (ABC).
- Liaise with the parent bank to ensure consistent alignment of financial crime policies and initiatives across the group.
- Establish and maintain relationships with key regulatory bodies and law enforcement agencies, ensuring open communication channels and staying up-to-date with evolving regulations.

**2. **Transaction Monitoring & Alert Clearing****:

- Oversee the development, enhancement, and day-to-day management of transaction monitoring systems (TMS), ensuring they effectively detect suspicious activities in real-time.
- Establish robust alert clearing protocols, ensuring timely and effective review, escalation, and resolution of alerts generated from the TMS.
- Work closely with technology teams to fine-tune algorithms, thresholds, and scenarios within transaction monitoring platforms, ensuring accuracy and minimizing false positives.
- Ensure that alert handling and Suspicious Activity Reporting (SAR) meet regulatory reporting standards.

**3. **Sanctions Screening & Compliance****:

- Develop and maintain sanctions screening procedures to ensure that transactions and counterparties are not in breach of national and international sanctions laws.
- Lead the sanctions screening process for onboarding customers and transactions, ensuring real-time monitoring and blocking capabilities.
- Provide strategic oversight of sanctions risk across the bank’s global operations, ensuring compliance with US, EU, UN, and local sanctions regulations.

**4. **KYC/Customer Due Diligence (CDD) Oversight****:

- Oversee global Know Your Customer (KYC) and Customer Due Diligence (CDD) frameworks, ensuring that onboarding and ongoing monitoring are in line with global standards.
- Ensure enhanced due diligence (EDD) is applied to high-risk clients, especially Politically Exposed Persons (PEPs), high-net-worth individuals, and other sensitive client categories.

**5. **Regulatory Reporting & Liaison****:

- Lead the preparation and submission of all regulatory filings related to financial crime, including SARs, AML/CTF compliance reports, and periodic risk assessments.
- Serve as the primary point of contact for regulatory bodies, managing inspections, audits, and requests for information on financial crime issues.

**6. **Training & Awareness****:

- Develop and implement financial crime compliance training programs for employees across all levels, ensuring that staff are aware of their responsibilities regarding financial crime prevention.
- Conduct regular updates on emerging risks, new regulations, and technological advancements that impact the bank’s financial crime strategy.

**7. **Team Leadership & Management****:

- Lead, mentor, and grow the financial crime compliance team globally, ensuring sufficient resources and expertise in critical areas like AML, sanctions, and fraud prevention.
- Provide clear direction and performance metrics for the team, encouraging collaboration across different jurisdictions and business units.
- Foster a strong compliance culture within the organization, ensuring that staff across all departments understand their role in mitigating financial crime risk.

**8. **Risk Assessment & Continuous Improvement****:

- Perform regular financial crime risk assessments and ensure that the bank’s FCC policies and controls are updated in response to evolving risks, regulations, and industry best practices.
- Collaborate with the fintech's produc

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