AVP - Compliance & MLRO

Job description / Role

A. Responsibilities towards External Regulators / Authorities:
- Handle all the Central Bank correspondences receive, translate, circulate & follow up on action taken for incoming, and co-ordinate, send & follow-up on replies or outgoing mail.
- Maintain a log of all communications with the Central Bank & update the ratios, reports, penalties and regulation logs/records whenever applicable Update & maintain a list of all controlled positions and their registration status Co-ordinate with the Central Bank during the periodic inspections and reply to requests and queries (verbal or written).
- Follow up thereafter with the respective teams/departments internally to ensure recommendations are adapted
- Receive, translate and circulate all UAEs Banking Association correspondence & advise action or reply if necessary.
- Co-ordinate with external auditors for their requests during the semi-annual Internal Control Review Audit mission.
- Refresh, screen and upload on a daily basis the AML reports to the Central Bank (i.e large cash and foreign currency transactions)

B. Policies and Procedures:
- Implement and monitor procedures involving compliance, including: Telephone Recording, KYC for new & review, sensitive & embargoed countries, cash deposits etc
- Circulate new instructions (Policies & procedures) and provide training/clarifications wherever necessary

C. Clients Acceptance, Monitoring & Reporting
- Review of full KYC where all names are screened and the account is discussed through a CAC (escalated to Regional Compliance in case of sensitive clients) prior to opening a new account and accepting the client, a is reviewed, Monitor a clients file continuously, detect unusual/unexpected behavior, and obtain proper justification or a rationale.
- Results of such investigations may require changes to the customer profile, KYC or frequency of monitoring.
- Monitoring is accomplished through various tools that are checked daily (Search Space, ASSIST, ETR etc)
- Check on availability & validity of all legal documents during the periodic reviews of KYC, to ensure completeness and validity and that KYC is duly updated
- Maintain & update a complete KYC log (existing & closed accounts)

D. Validation of new Products and Business Activities:
- Participate along with regional team in the validation of new deals/products on a case by case basis & for information purposes only.

E. Complaints:
- Review all complaint forms prior to it completing the circuit. Approval of any outgoing letters/replies/apologies to the client and be informed of the impact if any (financially, reputation wise, regulatory etc) on the bank.
- Compliance to be informed in case of reimbursement.
- Monitor regularly the complaints log to ensure compliance to procedure and check on follow-up to resolve the case.
- Encourage/remind all staff continuous to log all complaints regardless of the manner of reporting or seriousness of the case to improve efficiency and detect any problems glitch.

F. Testing adherence to Compliance Requirements:
- Validation of transactions involving sanctioned, embargoes countries/individuals/entities
- Update of client records as per the Central Bank and internal regulations
- Investigate Local LCs and other non-standard transaction (does not adhere to norms of the clients behavior or the policies/norms of the bank) to obtain clear justification/rationale
- Test a-priori controls (ex. Cash deposits, activation of dormant a/cs, classification of client sensitivity based on operations etc) Maintain & update a log of all staff particular sensitive staff.

G. Ethics:
- Provide advice/reminders and wherever possible monitor adherence to various issues related to ethics including conflicts of interest, adherence to the Groups code of conduct, gift policy, personal dealings, confidentiality etc.

H. Training Conduct:
- A one to one training for all newcomers within the first few weeks of joining ensuring their complete understanding of rights, obligations and obtain their signature on receipt of compliance manual as well as employee handbook
- Annually conduct a comprehensive AML and compliance training for all staff of the branch in case of new procedures or major changes, arrange special trainings/workshops for concerned staff.

Requirements

- Arabic speaker
- Result oriented and ability to independently interact with the Regulators and the Board.
- Proficiency in MS office application and ability to design reports as required.
- Excellent communication skills in English
- 4 -7 years of experience preferably within the investment banking/ Asset Management industry with a DFSA regulated entity or from an equivalent jurisdiction

About the Company

Building businesses, changing lives

At Tandem, we’ve built a vast network of top-tier professionals across the globe. We empower businesses to thrive by delivering unmatched talent solutions. With our global reach, collaborative approach, and unwavering commitment to excellence, we drive transformative growth and shape exceptional teams.

Who we are.

We are a team of industry experts, driven by a passion for innovation and excellence. We are dedicated to providing unique talent solutions and nurturing collaborative partnerships that redefine success.