Assistant Manager, Sanctions

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 Assistant Manager Sanctions is responsible for leading CBD's Sanctions compliance team by the Head count, providing leadership, Support, Guidance and Coaching. As well as, managing day-to-day operational task of offshore Sanctions screening alerts.

The role holder is expected to perform and or participate in bank wide training pertaining to Sanctions or adverse media and contact point as SME for Sanctions compliance.

Principle Accountabilities

- Establish, implement and review the Bank's Sanctions framework including devising the Sanctions Policy, SOP's and governance process.
- Identify and mitigate Sanctions risks in the bank through continuous assessment and development of new procedures, systems control etc.
- Leading CBD's Sanctions compliance team by the Head count, Providing leadership, Support, Guidance and Coaching.
- Manage the entire offshore team on day-to-day activity on Sanctions screening (Name & Payment).
- Manage knowledge transfer, material development and training delivery. Standardize training modules - ensuring alignment with new process/guidance releases by CB UAE.
- Execute process training to offshore team and calibrate results across.
- Collaborate with Quality Assurance and management across offshore to identify learning gaps and develop solution oriented and measurable training.
- Overseeing implementation and conducting internal inspections and communication with offshore team.
- Visiting offshore sites to ensure that agreed procedures are being implemented.
- Provide sanctions compliance trainings to business units/throughout the bank (department-wise).
- Manage the real-time Sanctions screening of inward and outward remittances against local and international sanctions requirements, CBD Sanctions Policy, UAE regulations and international best practice to ensure ongoing compliance with various sanctions programs.
- Managing CBD's Sanctions alert generation and investigation process by monitoring daily, weekly, and monthly alert and case inventory and balancing workloads across the team to ensure all alert analysis and case investigations are completed within established service level agreements and regulatory mandate.
- Act as focal point of contact for all escalations pertaining to International Trade, securities and remittance with respect to sanctions related matters and policies.
- Lead the continuous implementation/upgrade of Sanctions Compliance systems through project coordination, staff training and business support.
- Manage the sanctions screening for real-time and periodic account onboarding, Politically Exposed Persons (PEP) and adverse media screening against the various Sanctions Regimes and local regulatory requirements.
- Interact with Senior Management and cross-functional partners to raise awareness of Sanctions typologies, emerging issues, remedial actions or enhancements to the program.
- Provide Sanctions advisory in line with applicable laws, regulations and banks Policy and Procedures on matters raised as part of customer onboarding and transactional issues.
- Provide advice and guidance on sanction compliance issues that arise through the relevant businesses and in compliance unit.
- Provide accurate and timely information to the Sanctions Manager on all sanctions related matters and for ensuring compliance with relevant local and international regulations, specifically, OFAC, UN, EU, UAE and UK-HMT.

Requirements

Requirements
Experience and Qualifications

- 6 years of experience in the banking/financial services sector with a minimum of 4 years in Sanctions advisory function
- Bachelor's Degree

Skills

- Good written and oral communication.
- Report writing skills
- Must have a background of performing sanctions screening against OFAC, EU, UN, UAE and UK-HMT. sanctions regime.
- Well informed about PEP classification

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.