Sanctions Officer

6 days ago

Dubai, Dubai, United Arab Emirates CBD Full time

Job Purpose: 

The jobholder is responsible for reviewing Sanctions escalations as an escalation point within the service level parameters, mitigating compliance risks by applying ownership with a high degree of attention and ensuring accuracy.

Principal Accountabilities:

Independently reviewing Sanctions alerts in accordance with the CBD Sanctions alert discounting procedures as a final escalation point

Assist in the process review and enhancement related to the referral, escalation, and resolution of Sanctions alerts.

Assist and support in advising business units relating to compliance with international Sanctions regimes and associated risks to create a strong compliance culture.

Assist to mitigate sanctions compliance risks, foster a compliance culture in the Bank and optimize relations with the Regulators, Correspondent banks, protect the reputation of the Bank, comply with applicable Sanction policies, standards & local laws & regulations.

Review dual use of goods alert and/or export control restrictions in conjunction with the assessment and information provided by the Trade Operations.

Maintenance of red flags record.

 Closely coordinating with Compliance, Operations for smooth processing of transactions.

Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment.

Providing guidance and support to businesses or organizations regarding international trade sanctions.

Evaluating potential risks and implications for businesses engaging in international trade, considering sanctions imposed on countries, individuals, or entities.

Conducting training sessions and workshops to educate employees within an organization about trade sanctions, their implications, and best practices for compliance.

Additionally, the specific responsibilities may vary depending on the evolving Sanctions regulations.

Requirements

Education and Experience:

Bachelor's Degree as a minimum from a recognized university.

At least 5 years of experience in the banking/financial services sector with a minimum of 3 years in Sanctions advisory function

Good written and oral communication.

Report writing skills.

Must have a background of performing Sanctions screening against OFAC, EU, UN, UAE and OFSI Sanctions regime.

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