Assistant Manager, AML Investigations

Job description / Role

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World's Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.

Job Purpose

The role holder is responsible for managing the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) level 2 as well as providing subject matter expertise to senior management and business units.

Principle 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 MLRO/DMLRO who would then decide whether to report it as a money laundering suspicious transaction/activity to the UAE Central Bank's Financial Intelligence Unit (FIU).
- Receive and assign the transactions or activities which have been internally reported as suspicious by the Bank staff to the level 2 team.
- Document the rationale and analysis of the review conducted by the level 2 to justify the closure or escalation of the case.
- Oversee the investigations of the more complex investigations which may originate from Senior Management, Whistleblowing or from data analytics, etc.
- Reviewing all cases generated by AML Level 2, providing case advisory to the team members, concluding the case, and taking decisions.
- Reviewing staff alerts and closing them within the TAT.
- Work closely with the AML Manager to assist with day-to-day functions related to the AML Transactions Monitoring
- Align with business on any matters escalated and provide necessary support.
- Review retention cases and take a decision prior to the to the last decision by MLRO or DMLRO
- Provide advice and guidance to all business lines on AML/CFT related issues.
- Support the team by reviewing suspicious cases when the volume is higher than the average or when there are staffing constraints that would limit the team's capacity.
- Log and escalate all AML/CFT breaches or potential breaches.
- Manage the available resources efficiently and prioritize system enhancement/up-grades.

Requirements

Requirements
Experience and Qualifications
- At least 6+ years of experience in the banking/financial services sector (at least three in an AML/CFT Compliance role).
- Bachelor's Degree
- Well versed with banking systems, concepts and banking best practices
- CAMS or ICA or CFCS or CRCMP or any other related certificate is preferred.

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.