Assistant Manager, AML Investigations

Commercial Bank of Dubai (CBD)

Dubai, UAE

Posted
Ref: HP905-150

Job description / Role

Employment: Full Time

Job purpose:

- Review the AML/CFT alerts which have been escalated for further investigation and report to the MLRO or Deputy MLRO those genuine cases for which it should be considered whether the Bank need to file a Suspicious Transaction Report (STR) to the UAE Central Bank's Financial Intelligence Unit (FIU).
- Document and complete the process to report STRs to the UAE Central Bank's FIU once the decision has been taken by the MLRO or Deputy MLRO

Principal accountabilities:

- Conduct an in-depth investigation as per the Bank's internal procedures of those alerts which have been escalated as unusual transactions and need to be further reviewed to determine whether they should be reported to the Bank's MLRO or DMLRO. The MLRO or DMLRO would then decide whether to report it as a money laundering suspicious activity to the UAE Central Bank's Financial Intelligence Unit (FIU).
- Document the rationale and analysis of the review conducted by the role holder to justify the closure or escalation of the alert.
- Document and complete the process as per the Bank's internal procedures to report STRs to the UAE Central Bank's FIU once the decision has been taken by the Bank's MLRO or Deputy MLRO.
- Review responses received from the UAE Central Bank's FIU on the STRs submitted and inform the MLRO or DMLRO accordingly in order to define an action plan to comply with the notified regulatory requirements.

Requirements

Qualifications:

- Bachelor's Degree as a minimum from a recognized university.
- Well versed with banking systems, concepts and banking best practices
- CAMS or ICA or CFCS or CRCMP or other related certificate is preferred.

Experience:

- At least 6+ years of experience in the banking/financial services sector (at least three in an AML/CFT Compliance role).

Skills:

- Good understanding and awareness of financial crime regulatory requirements and international best practice.
- Experience in analyzing and interpreting relevant regulations and regulatory requirements.
- Analytical and attention to detail.
- Problem identification and solving skills.
- Good written and oral communication.
- Management skills: ability to lead a team and manage performance.

About the Company

In 1969, when we at Commercial Bank of Dubai started out little did we know that sheer grit and determination would get us where we are today. An Emiri Decree issued by His Highness the Late Sheikh Rashid Bin Saeed Al Maktoum, the founder of modern Dubai, laid the cornerstone of Commercial Bank of Dubai. We started out as a joint venture of Commerzbank, Chase Manhattan Bank and Commercial Bank of Kuwait. A minority stake was held by a few UAE businessmen.

By 1982, little more than a decade later, we evolved into a National Public Shareholding company. A feat complimented by an exponential increase in the capital base and mammoth restructuring of our operations. The feather in the cap came when the Government of Dubai became a key shareholder.

Over the decades, we have transformed ourselves into a progressive and modern banking institution. We are supported by a sturdy financial base and reigned by a strong and stable management. The proof of which lies with our customers who have stood by us over the years.

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