Job description / Role
To develop and manage the Anti-Money Laundering (AML) framework and provide AML regulatory advisory services to ensure awareness and adherence to the AML requirements and proper identification and mitigation of for the bank
AML/Countering Financing of Terrorism (CFT) Risk Management:
- Review customer accounts/account opening documentation for irregularities/anomalies related to AML/CFT to ensure Suspicious Transactions (STR) with valid justifications are reported to the Central Bank
- Provide guidance on follow-up actions and obtain information from the Business to ensure all enquiries from the Central Bank are responded to within the agreed timescales
- Establish and maintain ADCB’s Internal Black List in relation to AML/CFT to ensure that the bank’s risk exposure is reduced
- Analyse new or amended AML/CFT regulations (domestic and international), develop policies and procedures and provide advice to the business to ensure compliance with local regulatory requirements
- Provide AML/CFT related training to ADCB staff to ensure awareness and promote compliance culture within the bank
- Review and investigate all breaches, discrepancies and irregular activities and recommend corrective actions to ensure risks identified are properly mitigated for the bank
- Manage external communications with Central Bank and correspondent banks to ensure timely responses are provided
- Manage suspicious transaction report process, including escalation to the Head of Department to ensure awareness and report to CB where necessary
- Review periodic MIS reports and reports to UAE Central Bank (CB) to ensure compliance with regulatory requirements
- Act as an interface between the bank and external regulators and law enforcement on customer related enquiries/investigations and provide information (such as customer account and transaction information, files and documentation) in order to respond to requests for information
- Manage self and team in line with ADCB’s people management policies, procedures, processes and practices to ensure adherence and to maximise own and employee contribution to business performance
- Manage the effective achievement of the team’s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximise overall performance, engagement and motivation
- Contribute to the preparation of the business area’s budget and manage and monitor the financial performance against the budget so that areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalised upon
- At least 10 years of experience in the banking/financial service sector with exposure to banking transactions and supervisory responsibilities, and with at least 5 years of experience in the compliance environment
- Bachelor’s Degree from a recognized university
- Knowledge of AML Monitoring Systems
- Knowledge of UAE Central Bank Regulations and Money-Laundering Legislations and UAE Banking rules and regulations
About the Company
Founded in 1985, ADCB employs more than 4,000 staff from 62 nationalities, serving over 600,000 retail customers, and approximately 50,000 corporate and SME clients. The bank operates in 48 branches, 4 pay offices, 2 branches in India, 1 branch in Jersey and a representative office in London. By the end of March 2015, the total assets of ADCB amounted to AED 207 billion.
ADCB is a full-service commercial bank that offers a wide range of products and services including retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency derivatives, Islamic products, project finance and property management services.
ADCB is 58.08% owned by Abu Dhabi Investment Council, the investment arm of the Government of Abu Dhabi. The banks shares are traded on the Abu Dhabi Securities Exchange. By the end of March 2015, excluding treasury shares, ADCBs market capitalization was AED 34 bn .