Officer - Enhanced Due Diligence and Quality Control

Commercial Bank of Dubai (CBD)

Dubai, UAE

Ref: HP905-517

Job description / Role

Employment: Full Time

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 main purpose of the Officer is to perform independent reviews on High-Risk customer Onboarding and Ongoing Due Diligence performed by the CDD and EDD officers against the Bank's internal policies and procedures and determine whether they are in line with the Bank's risk appetite and in line with the regulations.

Principal Accountabilities:

Conduct an in-depth independent sample review as per the Bank's internal KYC / ODD Policy and Procedures of existing High-risk customer profiles which have been referred by the Business to Compliance for periodic (annually) and trigger based ongoing Due diligence.

Ensuring completion of CDD and ODD are with correct KYC data and information, any risk rating changes by performing KYC refresh on the information.

Ensure if the customer had any red flags /FCC concern were identified by the Officers and were suggested for exit relationship.

To review if all the true PEPS were identified and assessed by the officers, were the cases in line with PEP policy and procedure

Ensure that the required KYC information and documentation is properly retained and stored using the Bank's systems for each business line through identifying samples

Document the review process to evidence the analysis conducted as well the rationale behind the sign-off or rejection of customer profiles.

Escalate any concerns through reviews to ensure the customer profiles are well assessed and in line with the Bank's policies and procedures.

To review if the officers followed the Bank's exception handling process to obtain approvals where required information is not available (either temporarily or permanently) for the Bank during the ODD process or changes identified indicate a heightened risk of financial crime.


Education and Experience:

Bachelor's Degree as a minimum from a recognized university

At least 3 years of experience in the banking/financial services sector preferably having Due diligence exposure either through First line or Compliance

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.

Get personalised updates on latest vacancies
Job Alerts by Email
  • Personalised updates on latest career opportunities
  • Insights on hiring and employment activity in your industry
  • Typically sent twice a month