Senior Manager - Sanctions Systems
Commercial Bank of Dubai (CBD)
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.
As Sanctions Tuning Manager, you will be responsible for owning the risk around the tuning of the Fircosoft screening solution and ensuring it aligns with the Banks risk appetite.
The role holder should support the Senior Manager, Compliance Systems by tuning and documenting the screening systems (both name and transactions) and ensuring they are aligned to the Risk appetite of the Bank. They will ensure all rules put into the system are reviewed and approved by the appropriate stakeholders.
Primary responsibilities are as follows:
• Design and develop a framework to document, manage and track the testing and validation of the filtering within the Bank focusing primarily on the two areas of:
• Effectiveness - Is the filter capturing all the appropriate alerts in line with the Banks risk appetite
• Efficiency - Is the filter optimized to automatically suppress as many false positive alerts as possible without introducing any risk of discarding genuine alerts.
• Design and develop framework to document, manage and track the testing and validation of the following Fircosoft Modules and their parameters: Decision Re-application, Stripping, Workflow Accelerator and Pairing
• Test and document the impact of each of the 46 matching algorithms within the 8 different filters over each of the following systems: Payment screening both International and Domestic
• Customer Onboarding which includes Sanctions, PEP and Adverse Media
• Customer Periodic Screening which includes Sanctions, PEP and Adverse Media
• Perform yearly analysis of the filter configuration to ensure appropriateness and alignment to the Banks risk appetite
• Perform yearly filter effectiveness testing as per CBUAE guidelines
• Review all created rules and ensure they have appropriate controls around them to ensure they do not expose the Bank to any risk
• Create reports and documentation around the configuration, rules and good guys and ensure they correctly reflect the technical rules that have been implemented
• Weekly walk through and presentation of the recommended rules to CCO, Head of FCC and Sanctions Manager
• Ensure the optimization of rules to support maximum system performance
• Perform regular QA over the work of their team
• Verification of tuning results and configuration
• Must have a strong background in Financial Crime
• Must have a background in Fircosoft tuning
• Well versed with banking systems, concepts and banking best practices
• At least 5+ years of experience in the banking/financial services sector within a Compliance related role.
• Stakeholder Communication and management
• Team leadership
• Good written and oral communication.
• Problem identification and solving skills.
• Report writing skills
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.