Interpret domestic and international sanctions (UAE, US, UK, EU UN etc.) and maintain awareness / knowledge of sanctions that impact the bank and / or its branches or subsidiaries.
Update Bank’s Sanctions Policy / matrix with evolving sanctions regulations.
Review and maintain the banks sanctions screening systems / lists to ensure compliance with the banks sanctions policy as well as sanctions regulations.
Ensure that list functionality is optimal to produce effective and efficient results while maintaining the integrity of the system against the sanctions policy as well as sanctions regulations where exceptions / filter tuning is performed.
Key Result Area
Manage blacklist screening systems for the bank (multi-jurisdiction); ensure that the lists applicable to each jurisdiction are kept up-
to-date at all times and are applied in accordance with the regulatory requirements.
Provide Head of AML & Sanctions with assurance that all filtering systems and lists required under sanctions regulations are embedded within the banks screening framework to avoid any sanctions breach
Manage vendor relationships for compliance related systems in terms of quality of service, responsiveness, cost etc. Manage Budget and resources to prioritize system enhancement / up-grades.
Manage lists of sanctioned and blacklisted parties in bank’s payments filter and customer screening system.
Promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by any of the regulatory authorities and / or international bodies for a breach of sanctions.
Undertake periodic review or self-assessment of key controls to assess the quality and effectiveness. Report findings and submit recommendations for corrective action, if required.
Manage Regulatory inspections of the Sanctions area where systems are concerned. Act as a focal point to the examiners and facilitate trouble-
free examination. Ensure implementation / regularization of recommendations, if any, within the agreed deadline(s). Keep HO Compliance updated with the progress.
Evaluate, train and motivate business / operations staff to enhance their skills and knowledge on sanctions screening systems and lists.
Manage the available resources efficiently by creating a well-built and dynamic team to handle system and list related responsibilities.
Knowledge, Skills and Experience
Graduate with 7-10 years of total banking experience, with at least 3 years of experience in Sanctions Compliance, including list management and system tuning.
Excellent and up-to-date knowledge and understanding of the International / OFAC / EU / UN Sanctions.
An understanding of how transactions settle globally.
Market knowledge of IT tools / software used for customer screening and payments filtering
Good knowledge and understanding of local AML / CFT rules and legislation, and international best-practices / requirements.
ACAMS Certified / other recognized certification
Organizational awareness including working knowledge of risks, products, processes, controls, list management and systems.
Computer literate with good knowledge of MS Excel and Business Object (BO) reports.
Good command over spoken and written English.
Good presentation skills.
Efficient and logical approach to problem solving.
Audit Fraud and Compliance Group
May 21, 2018