Anti-Money Laundering Investigations Officer

McGregor Boyall

UAE

Ref: NP388-527

Job description / Role

Employment: Full Time

To undertake AML investigations based on unusual transactions, suspicions or concerns identified through AML transaction monitoring, system alerts, compliance concerns, internal suspicions or market intelligence in line with CBUAE regulatory requirements, FATF standards and the AML risk appetite of the bank.

* Daily review of AML Transaction Monitoring alerts and cases created in the AML transaction Monitor System.
* In-depth expert analysis, review and investigation of unusual transactions, suspicions or system-generated alerts as highlighted through internal systems, reports, staff, regulators or market intelligence.
* Reviewing internal systems and publicly available information in order to substantiate or refute initial observations and potential concerns.
* Accountability for stakeholder engagement to obtain the required level of feedback, documentation and information as required for further analysis, review and consideration to take an informed risk-based expert AML decision around the alerted transactions and concerns.
* Upon final review of all information against the highlighted concerns, make a clear determination regarding the appropriate steps around further regulatory reporting, escalation to management and potential exit of relationships, as well as recommendation regarding any possible monitoring or internal restrictions to be implemented during and after reporting and exit of a relationship.
* Where suspicions are identified and investigated and where reporting is required, prepare a detailed Suspicious Transaction Report (STR) in line with CBUAE guidelines and expectations, ensuring appropriate coverage of the relationship, suspicious activity, any potential links to other relationships, identified AML typologies, and efforts made to substantiate the suspicions and concerns identified in the STR.
* Accountable for ongoing follow-up and escalation of relationships identified for exit, including the preparation of relevant reports, updates and MI to the AML Manager until final resolution of relationships identified for exit.
* Ensure immediate action and follow-up until satisfactory closure to address CBUAE comments/requirements.
* Responsible for proactive, risk-based AML monitoring and trend analysis to identify any links between identified suspicions, concerns, unusual activity and customers to protect the bank from risk associated with potential inter-related criminal activities and money launderers.
* Identifying and suggesting improvements to the AML transaction monitoring process and methodology based upon investigations, trend analysis and international best practices.
* Taking proactive steps and remaining aware of market trends and industry expectations around AML in order to identify money laundering trends and typologies and suggest techniques for prevention and mitigation of ML/CTF risks to the bank.
* Undertake the CBUAE required investigations to respond to the regulatory Enhanced Due Diligence Requests.
* Maintaining appropriate MIS (daily, monthly, quarterly, annually) of alerts, investigations and STR filed and the responses received from Central Bank as well as any action required and follow up.
* Undertaking tasks as may be required by the line manager or his/her Seniors.

Requirements

AML Investigations Officer

* Minimum 8 years' experience in in a banking environment of which 5 years' experience should have been in AML Investigations or similar department

McGregor Boyall is an equal opportunity employer and do not discriminate on any grounds.

About the Company

Established in 1987, McGregor Boyall is a global recruitment consultancy providing permanent and contract / interim professionals across a wide variety of disciplines including Technology, Risk, Finance, Compliance, Legal, Marketing and HR & Talent Management. Since our inception, we have built an unrivalled reputation for helping organisations recruit the very best talent to ensure that they realise their business and operational objectives.

Headquartered in the city of London, and with further offices throughout the UK (Manchester, Birmingham, Edinburgh and Glasgow) as well as globally in Dubai and Singapore, we are able to offer recruitment solutions throughout the UK & Europe, Middle East and Asia Pacific regions.

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