Manager – Sanctions Advisory
Abu Dhabi Commercial Bank (ADCB)
• Identify Sanctions compliance deficiencies.
• Assist the business with Sanctions requirements & ensure adherence.
• Assist Head of Compliance in developing bank-wide Sanctions compliance strategy.
• Provide Sanctions training & awareness.
• Effectively manage internal stakeholder (business units) relationships.
Main Tasks and Responsibilities
• Ensure full Sanctions compliance across all relevant areas of responsibility.
• Revert to business / operations for sanctions’ related cases.
• Keeping abreast of sanction developments.
• Update business of any new developments on Sanctions.
• Implementation where appropriate of international best compliance practices and standards.
• Ensure ongoing planning, coordination and implementation of key Sanctions Compliance Risk initiatives.
• Reviewing and updating policy and procedures to accommodate Sanctions changes and ensure staff compliance therewith.
• Ensuring all bank correspondence related to Sanctions are replied to, within the given timeline by liaising with various businesses to obtain all the required information.
• Deciding on whether there’s valid justification of sanctions’ related suspicion to report cases to the UAE-CB, after discussing with the LM &/or Head of Compliance.
• Periodic reviews of customer accounts and opening documentation for irregularities or anomalies related to Sanctions.
• Developing & maintaining a sanctions-related process.
• Ensuring review and investigation of all breaches, discrepancies and irregular activities cases are conducted and corrective actions are recommended in a timely and professional manner.
• Actively participating in establishing & maintinaing ADCB's sanction list in partnership with CBG/WBG
• Reporting of Sanctions related cases and submission to LM &/or the Head of Compliance.
• Reviewing new Sanctions and working with the business to ensure compliance, while taking appropriate actions to ensure the business complies with new and/or amended regulations, through development of policies & business procedures, consistent with regulatory & business standards.
• Drafting & updating compliance policies and procedures.
• Assisting the business and providing advice and consultation on Sanctions requirements.
• Ensuring that all business groups are aware of domestic and international Sanctions
• Identifying sanctions deficiencies, along with corrective action plan.
• Meeting all regulatory reporting requirements and record keeping.
• Providing Sanctions training as well as developing training materials and have the same circulated to enhance general Sanctions awareness & culture within the business.
• Performing special projects or research as necessary.
• Lead & motivate the team.
• Build team awareness of the unit’s objective and the bank’s requirements towards central bank.
• Provide overall guidance and assistance to the team.
• Establish and maintain strong professional relationships/connections internally and externally.
• Continuously monitor & assess the efficiency of team performance in regards to internal/external customer expectation, turn around time, information exchange and documentation.
• Ensure adherence to deadlines and reporting.
• Undertakes similar or related tasks or duties as directed by management.
• Works to established time frames and action frameworks to ensure that all reporting processes are carried out in the established sequence and in the required timeframes.
Minimum Education Level
Varied experience in branch banking, retail and corporate banking, operations etc.
*Knowledge of the country’s central bank regulations, OFAC, EU, UN Sanctions regulations.
*Familiar with banking rules/regulations of the country.
*Certified Compliance Officer &/Or Certified Sanctions’ Specialist.
10 years experience in the banking/financial services sector with exposure to banking transactions and supervisory responsibilities, additionally with at least 7 years of experience in the compliance environment.
Special Skills / Attributes required for the Job
• Good Command of MS Office
• Good Person-to-Person Communication Skills
• Strong Leadership & Team Building Skills
• Strong Time Management & Organizational Skills
• Logical Analytical Thinking & Problem Resolution Skills.
About the Company
About the Company
ADCB was incorporated on 1 July 1985 as a public joint stock company for an unlimited duration in the Emirate of Abu Dhabi, UAE. ADCB is registered under the UAE Federal Commercial Companies Law No. (8) of 1984 under registration number 4 and operates in the UAE under a banking licence issued by the Central Bank of the UAE.
ADCB provides a range of consumer and corporate banking, Islamic banking, trade finance, structured finance, foreign exchange, derivatives, and financial advisory services, primarily in the United Arab Emirates. In addition, ADCB’s subsidiary Abu Dhabi commercial Islamic Finance PSC holds an Islamic banking license.
As at 31 December 2010, ADCB operated 47 branches, 4 pay offices and 265 ATMs in the UAE; 4 new branches and 99 new ATMs were added during 2010. ADCB also operated 2 branches in India.