Compliance Officer

Main Tasks and Responsibilities No. Principal Accountabilities Main Tasks
Client On-boarding
Review account opening/know your customer (KYC) documentation, conduct quality client due diligence factoring AML/CFT and sanctions risks, liaise with business units and vigilance and control team to ensure quality of KYC forms and documents
Document on-boarding decisions for reviewed clients, provide advisory for sanctions matches referred by operations and business units and provide sign off for account opening for increased risk and Politically Exposed Persons (PEP) customers to ensure compliance with regulatory requirements
Client Risk-Assessment
Conduct risk assessments on reviewed clients, issue advisory/take decisions on new to bank account opening requests, make decisions on the risk assessment (increased, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements
Client Monitoring/Investigation
Review system generated alerts against customer data, investigate for potential money laundering/terrorist financing/sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious, update relevant MIS to ensure accurate tracking and record keeping, mitigate sanctions risks by taking decisions on payment filtering system, update internal watch-lists, identify tainted/blacklisted names and ensure required actions are taken in order to fulfil regulatory requirements and avoid penalties
Advice and Guidance
Act as a subject matter expert to employees providing guidance on what actions to take when dealing with high risk accounts and transactions, contribute to the formulation of internal policies, procedures and training materials to support compliance with regulatory requirements
Policies, Processes, Systems and Procedures
Adhere to all relevant organisational and departmental policies, processes, standard operating procedures and instructions so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to customers and stakeholders
Self-Management
Manage self in line with the bank’s people management policies, procedures, processes and practices to ensure adherence and to maximise own contribution to business performance
Customer Service
Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank’s required levels of service in all internal and external customer interactions
External Reporting and Correspondence
Draft and report on MLRO/Deputy MLRO approved suspicious transaction reports (STRs), action and submit responses to UAE Central Bank on STRs, assist with addressing queries from corresponding banks relating to money laundering and sanctions matters, carry out freezing of funds and blocking of accounts, respond to and raise requests for information (RFIs) from other banks on anti-money laundering and sanctions in order to fulfil regulatory requirements and avoid penalties
Roles Reporting into this Role Direct Reportees (Titles)
None
Experience and Qualifications Minimum Education Level
Bachelor’s Degree in Finance, Accounting, Commerce or Business Administration
Professional Qualification
NA Experience (indicate years of experience required for the role as well)
At least 4 years of experience in banking, of which at least 2 years in compliance.
Main Working Relationships Job Title Internal/ External (E/I) Purpose of Contact Frequency
Line Manager
1. Line Manager
Internal
To seek guidance, advise and discuss performance
Daily
Group Compliance Employees
Internal
To provide and receive information
Daily
Branches, retail and wholesale banking business units, operations etc.
Internal
To discuss and review client on-boarding, monitoring and alerts. To obtain explanations and clarification on client on-boarding/de-risking
Daily
UAE Central Bank
External
To report unusual/suspicious transaction, answer queries and execute required actions.
Ad hoc