AVP- Financial Investigations Unit

7 days ago

abu dhabi, United Arab Emirates Asterix Communications Full time
Job DescriptionJOB PURPOSE: To support and execute activities of the MLRO team in relation to Suspicious Transaction Reporting (STR) reporting. The job purpose entails performing investigations, assessing the financial crime risks and proposing cases to MLRO for final decision-making with proper recommendations and risk mitigations. In addition, AVP FIU is also required to ensure the day-to-day mandatory activities for the unit are functioning smoothly and come-up with solutions for the betterment of the department.KEY ACCOUNTABILITIES:
Support VP, FIU with the following activities:Develop FIU framework which includes designing policies, procedures, systems in order to support the reporting of suspicious transactions and creating awareness regarding the AML functionImplement Transaction Monitoring and Suspicious Transaction Reporting measures in line with applicable laws, regulations and the Bank internal guidelinesOversee and effectively manage reported unusual activities and suspicious transactionsEnsure timely reporting of unusual activities and suspicious transactions to the MLRO and Regulatory AuthoritiesProvide SME advisory to the business, support functions, international branches and subsidiaries on transaction monitoring and suspicious activities/transactions mattersDevelop and deliver focused training to FLOD and Businesses on handling AML alerts and reporting suspicious transactionsEnsure bi-annual reporting takes place with the regulator in the form of MLRO reportIdentify AML related issues within the businesses and ensure material risks are reported on a monthly basis to appropriate governance forums - BRCC, Compliance Committee etcEnsure issues identified by Group Internal Audit (GIA) are closed in a timely manner with proper resolutionIdentify jurisdictional FIU issues and assist businesses and international locations in resolving these in a timely and effective mannerProvide expertise and support to Monitoring and Assurance team to enable them to conduct effective reviews and test for the FIU spaceEnhance Governance and assist Businesses, FLOD, Risk & Control and International locations develop their FIU frameworkProvide SME advisory to the business, support functions, international branches and subsidiariesProvide AML risks and solutions to the design, development and maintenance of systems implemented for FIU, in line with local and international laws and regulationsIdentify opportunities for technological advancements and simplification of processesEnsure Compliance expertise is provided in activities related to data migration into new systems identifiedWork alongside Compliance technology to ensure necessary budget approvals are obtained for driving processes and regulations using technologyEnsure regulatory matters are attended in a prompt and efficient mannerProvide adequate support to stakeholders to assist identify and report suspicious transactionsProactively anticipate and assist business manage the emerging AML typologiesProvide adequate support to stakeholders on regulation and policy interpretationBuild and maintain good relationships with businesses to create a seamless environment cultureInvestigate internal STRs (ISTRs) that have been raised to the MLRO team from different sourcesAnalyse the ISTRs including but not limited to reviewing all documents provided by the reporting party, seek additional feedback as required from FLOD Operations or Business in order to make a sound judgement on the casesPrepare a comprehensive proposal for MLRO or designate giving proper recommendations and risk mitigationsEnsure MI of STRs reviewed is maintained and kept up-to-date at all timesBased on MLRO or designates feedback, raise the case in reporting system or close the case internally with proper documentationTrack and manage all recommendations that have been made to the business or by MLRO or designate on the casesTrack and manage regulatory responses on filed STRs and determine whether all risk mitigations are executed. Engage with Business Compliance as required to resolve the casesReview and propose changes to scenarios, rules and thresholds in the transaction monitoring systems, processes and practices based on risks and control deficiencies identifiedStay abreast of related AML/CFT laws, rules, regulations and best practices pertaining to transaction monitoring and STR fillingSupport in execution and program management of financial crime related projects as per the project guidelines set by the compliance governance departmentPrepare responses to the AML questionnaires requested by correspondent banksAssist with any ad-hoc tasks that may be assigned by Line Manager or MLRO
#LI-SD1 QualificationsMinimum Qualification: Bachelor's Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, AML/CFT, Financial Crime or Risk Management.Minimum Experience: At least 5 years of business experience in an AML Compliance role in a reputed bank
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