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Regional Correspondent Banking Due Diligence Team Officer

Standard Chartered Bank - UAE

Dubai, UAE

Ref: HP048-1111

Job description / Role

* Work within the front-line team who has the responsibility for client risk management (e.g., CDD self-audit, onsite client visits, underwriting AML risk) across the Correspondent Bank (CB) portfolio.
* Act as a key individual in the Regional team implementing the Financial Crime (FC) risk, anti-money laundering (AML), anti-terrorist financing (ATF), anti-bribery and corruption (ABC) strategic agenda of the business.
* Monitor the CB business for FC/AML/ATF/ABC/sanctions issues
* Embed a culture of responsibility and awareness of financial crime matters and compliance throughout the FI organization as the first line of defense.

Key Roles and Responsibilities:
* Act as subject matter expert for CB business regionally.
* BSA/AML and sanctions extpertise relating to different products and services offered by the business with predominant focus in global trade, transaction banking, FX, loans and syndications.
* Act as underwriter for AML/FC risk to ultimately uplift the quality of CDD files.
* Conduct targeted reviews and visitations with correspondent bank clients to follow-up on pertinent concerns identified by Compliance or the line of business as well as visit new/potential correspondent client Financial Institutions (FIs) to discuss and assess their compliance management programs.
* Work closely with Financial Crime Compliance (FCC) Correspondent Banking FI Due Diligence team team, trade and payment product partners to identify emerging trends and high risk transactions and activities to take appropriate measures to mitigate the risks including restriction of transactions to account closures including managing suspicious activity reporting and unusual activity reporting for the portfolio.
* Identify emerging risk trends within the portfolio and take appropriate remediation action steps to manage/mitigate the risks including updating senior management and various stake holders through situation update reports.
* Review monthly MIS and client specific dashboards including SARs, NCTs and RFIs
* Work closely with different lines of business compliance and financial crime teams to ensure that the business meets local and bank wide policies and procedures through different reporting to various stakeholders and bank regulators.
* Work with FCC to ensure policy and procedures are aligned with regulatory requirements and are operationally feasible.
* Help identify training needs.
* Mentoring, coaching and professional development of Team members across the globe sharing knowledge and skills.
* Implement a strong governance framework.
* Support internal audits and regulatory exams to address, remediate and mitigate high risk clients, high risk issues impacting at the portfolio level.
* Support the facilitation and fulfillment of requirements as a result of external and internal exams.
* Develop, track and follow-up on issues, action plans and escalation reports stemming from AML-related governance to ensure timely response and action.
* Identification and escalation of potential risks and issues to senior management through appropriate governance channels.
* Proactively monitoring correspondent banking portfolio transaction monitoring reports and dashboards.
* Monitoring operational effectiveness and provide overall oversight of financial crime risk related responsibilities for the CB business.
* Development and maintenance of financial crime metrics inventory
* Creation and presentation of executive reports defining compliance and risk management components of the AML/ATF/ABC and sanctions initiatives being driven by the business


* Preferred experience in financial crime /AML environment
* Strong financial services/Correspondent Banking product experience
* Experience with FI clients, specifically CB
* In-depth understanding of global financial crime regulations
* Excellent communication/writing skills with ability to get points across to all levels internally & externally
* Experience in Project Management, particularly in policy review, implementation, interpretation and execution
* Strong knowledge of regulations in key jurisdictions with some working knowledge of SCB footprint markets
* Experience with financial crime compliance frameworks particularly as it applies to correspondent banking
* Experience in related documentation and agreements associated to FI clients, including Banks clients with a particular focus on correspondent banking
* Core product knowledge across the Bank's offering
* Structured and process driven, with experience in a multi cultural team, across borders and time zones
* Excellent analytics and reporting skills, being able to cross-check the work and manage communications
* Ability to work towards tight deadlines and manage expectations
* ACAMS/ICA qualification
* Travel 30-40%

About the Company

Standard Chartered Bank started in 1958 in UAE with its first branch in Sharjah. The Group’s business gradually increased in Dubai with the opening of several branches and today, Dubai is the administrative hub of the Middle East and South Asia Region. In its 43rd year, the Bank enjoys the position of having the most extensive branch network among foreign international banks in UAE with 10 branches emirate-wide.

Standard Chartered is an international bank, focused on the established and emerging markets of Asia, Africa, the Middle East and Latin America with an extensive global network of more than 600 offices in over 50 countries. The three principal business groups are Global Markets, Personal Banking and Corporate and Institutional Banking.

In UAE, we are one of the leading banks, offering an extensive range of products and services for personal customers, local companies, multinational corporate and financial institutions.

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