Sanctions Officer

Job description / Role

Role Purpose

Provide subject matter expertise (SME) advice, guidance, and input on sanctions regulations (comprehensive and list-based) including payment screening, policy and procedure, and delivering training.
To ensure compliance and enhance efficiency through executing and monitoring transaction activity performed in branches and business departments.
To advise and report compliance activities to the Head of Compliance & AML & CFT Monitoring Transactions Head through the Team Head.

Key Accountabilities of the Role

• Provide compliance approval for payment screening alerts (wire transfers/trade transactions) escalated to L3.
• Review and take necessary action on name screening alerts escalated to L3.
• Provide advice/guidance to all lines of business and COC teams on sanctions regulations and internal sanctions policies.
• Review the response to RFIs received from various correspondent banks for possible sanctions violations.
• Provide SME guidance on new and existing sanctions-related projects such as new products and IT systems.
• Provide SME guidance on reputational and sanctions risk arising from customers and transactions.
• Provide SME input for updating existing policies, procedures, guidance documents, and training material in line with regulatory requirements.
• Provide SME guidance on managing the exit of customers arising due to sanctions risk.
• Perform ad hoc investigations and analysis in support of sanctions investigations and regulatory inquiries as and when required. Thoroughly document and maintain related investigation files.
• Ensure escalation of significant sanctions-related matters to the Head of Sanctions or Head of FCC.
• Provide SME guidance on the production and delivery of sanctions-related training material (eLearning and face-to-face).
• Participate and support in the delivery of face-to-face training on sanctions.
• Remain current on TFS and AML/CFT regulations.

Specialist Skills / Technical Knowledge Required for this Role

• Exemplary knowledge of UN, EU, UK, and US Economic Sanctions (OFAC) and Export Controls laws.
• Exemplary knowledge and experience of providing subject matter input for sanction policies, systems, and trainings.
• Ability to provide and deliver sanction training.
• Strong knowledge and experience of having provided sanction advice to all types of business and operations covering all types of customers.
• Good analytical, review, and assessment skills of sanctions compliance procedures and sanction screening systems.
• Ability to build constructive and effective relationships with peers and seniors.
• Strong analytical, written, and oral communication skills.
• Relationship building skills.
• Sound judgment.
• Strong interpersonal skills.
• Ability to multi-task.
• Independence of thought and initiative.
• Ability to be a self-starter and work independently as well as part of a team.
• Ability to interact with all functions and levels including senior management.
• Ability to prioritize workload and meet deadlines.
• Analytical mind, good communication, self-motivated, and detail oriented.
• Fluent in English. Ability to read and communicate in Arabic language will be an added advantage.