Manager - Transaction Monitoring

3 weeks ago

Dubai, United Arab Emirates Al Ansari Exchange Full time

Manager - Transaction Monitoring

**A. POSITION PURPOSE**:
Lead and Manage the team of transaction monitoring (Real-time & Post-facto) and monitor their progress as per the defined KPI's and regulatory requirements within the specified time period. To ensure all transactions are monitored taking into account various money laundering / terrorist financing typologies.

**B. ESSENTIAL FUNCTIONS AND BASIC DUTIES**:

- Lead and manage the team of transaction monitoring (Real-time & Post-facto) and monitor their progress as per the defined KPI's and regulatory requirements within the specified time period.
- Prepare, review and monitor the AML / Transaction Monitoring related policies and procedures, Typology Assessments covering the aspects of real-time monitoring of transactions to mitigate TBML (trade based money laundering risks) / Proliferation Risks, undertake gap analysis on Policies and procedures with regulatory guidelines, practices, and ensure to update the manuals accordingly.
- Review escalated cases (Alerts/ Internal disclosures) which have been identified for any money laundering, trade based money laundering, terrorist financing, proliferation financing, fraud or any other financial crime cautionary flags, and advise transaction monitoring appropriately for filing the case with CBUAE as Suspicious Transaction Report.
- Review and verify Suspicious Transaction Reports and submit the same to Head of Department and further to Financial Intelligence Unit, CBUAE.
- Ensure the investigated alerts are reported to CBUAE with the expected quality levels and in the specified time limit.
- Monitor the queues for automated alerts, real time alerts and ensure the investigations are undertaken based on different Money Laundering / Terrorist Financing typologies.
- Proactively identify the risks which are associated with Transaction Monitoring function (Real-time & Post-facto), and mitigate them by providing tactical and strategical solutions.
- Undertake tuning and optimization exercise to ensure adequate alerts are available for investigation.
- Conduct quality checks on the alert disposition action by staffs.
- Raise alerts, and apprise the Head of Department on unresolved cases or any anomalies identified in the function for remedial actions.
- Maintain complete confidentiality of customer records, documents, case files, investigation reports, customer due diligence, unusual potential suspicious transaction, suspicious transaction reports etc. both inside and outside the office premises.
- Assist and guide members of Compliance & AML department with ad-hoc analysis and investigation requirements.
- Provide professional advice on AML related issues for business units and Operations.
- Provide guidance to Transaction Monitoring analysts and advice Transaction Monitoring related inquiries
- Effectively lead and support TM related system projects, and process improvements.
- Distribution of workload/ assigning of alerts to the team members, while creating an environment oriented to trust and open communication.
- Demonstrate and ensure full compliance with AML manuals, relevant policies and procedures while undertaking the duties and responsibilities.
- Undertake and implement timely resolution of audit findings, and implementation of internal / external / regulatory audit recommendations, as assigned by Head - Compliance & AML. Liaise and
- up with the IT team for proactive resolution of issues likely to affect the business as usual work flows, along with team concerned or Senior Manager responsible for same.
- Prepare and present Management Information System report to HOD - Compliance & AML
- Conduct team meetings, knowledge sharing sessions, feedback sessions, and manage preparation of monthly work schedules and annual leave rosters for the team.
- Coordinate with Learning & Development Manager to impart dedicated training programs for transaction monitoring team in line with regulatory requirements. Conduct interviews for Compliance & AML team and
- appropriate recruitment procedures to ensure manpower resource management is effective
- To Manage/ support other critical AML functions upon any exigency requirements as assigned by HOD - Compliance & AML.
- Ad hoc assignments as required by the immediate line of authority

**C. WHAT WE ARE LOOKING FOR**:

- Minimum 8 years of experience in Compliance & AML aspects
- Abreast knowledge in CBUAE standards
- Knowledge of global compliance standards
- Ability to work under pressure and meet tight deadlines
- Professional relationship with both internal and external customers
- UAE driving license would be an added advantage

Job ID 2543

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