Senior Manager, AML & CFT

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Commercial Bank of Dubai

Our CBD family's prosperity throughout the years is straightforwardly credited to the responsibility and ability of our UAE Public staff. Our business center is to construct profound and compensating connections in the neighborhood markets and we realize that the best UAE Public staff will make that conceivable.

Job Vacancy – Senior Manager, AML & CFT – Dubai, United Arab Emirates

Commercial Bank of Dubai – Dubai, United Arab Emirates

  • Experience:- As Mentioned
  • Job Location:- Dubai, United Arab Emirates
  • Company:- Commercial Bank of Dubai
  • Education:- As Mentioned
  • Nationality:- Any Nationality
  • Gender:- Male / Female 
  • Number of Vacant Positions:- Not Mentioned
  • Salary:- Negotiable
  • Job Type:- Full Time

About Commercial Bank of Dubai

Our CBD family’s prosperity throughout the years is straightforwardly credited to the responsibility and ability of our UAE Public staff. Our business center is to construct profound and compensating connections in the neighborhood markets and we realize that the best UAE Public staff will make that conceivable.

Since our initiation, we generally viewed as the enrollment of UAE Nationals as one of our main concerns. We have consistently planned to draw in and foster UAE Nationals, delegating them in mindful driving situations without disregarding the capacities and advancement possibilities of other staff no matter what their identities.

Our endeavors and accomplishments in Emiratisation have been perceived and respected. The bank is a previous victor of UAE Public Assets Improvement Grant, the Dubai Human Improvement Grant and the HR Improvement Grant.

Is it safe to say that you are that capable and serious UAE Public prepared to foster yourself and influence a difficult and remunerating business, rich with your country’s set of experiences? Then welcome to the CBD Family.

About Commercial Bank of Dubai

Job – Senior Manager, AML & CFT

Job Description :

• Oversee the AML/ CFT risk for CBD, owning the AML/ CFT Policy and ensuring compliance with all CBUAE regulations, guidance and notices.

• As the Bank’s DMLRO, the role holder will have delegated authority to sign and report Suspicious Transaction Reports (STRs) to the UAE Central Bank’s Financial Intelligence Unit (FIU).

• Review the escalated alerts or suspicions transactions and determine whether they need to be reported to the UAE Central Bank’s FIU.

• Manage the received responses or mandated actions from the UAE Central Bank’s Financial Intelligence Unit (FIU) on the STRs submitted and support the Head of Compliance with regulatory correspondence.

• Day-to-day management of the Bank’s transaction monitoring system to ensure effectiveness, track AML alerts, queues or backlogs and provide the Bank’s senior management with an update on the operations and effectiveness of the AML/CFT and Sanctions function.

• Oversee the investigations of the more complex investigations which may originate from Senior Management, the UAE Central Bank, the Police, Whistleblowing or from data analytics.

• Conduct periodic assessments of the Bank’s transaction monitoring system to ensure its optimization (i.e. fit-for-purpose), including threshold reviews, segmentation analysis as well as scenario performance analysis.

• Manage the list of scenarios from which the system will trigger alerts to ensure that the rationale behind each rule and the governance in place around the modification of parameters is well documented and mapped against the identified inherent risks.

• Run the Transaction Monitoring Oversight Committee, prepare proposals and act as Secretariat.

• The role holder will have the rights in the AML transaction monitoring system to modify parameters and scenarios with the approval of the Head of Compliance. Any change should be properly documented in order to track modifications, record approvals and capture the corresponding rationale/logic for implementation.

• Provide advice and guidance to the AML team and business areas on AML/CFT related issues.

• Provide updates to the wider AML/CFT team on current events or regulatory changes.

• Own the AML/CFT related policies and procedures remain updated and communicated as required to all stakeholders.

• Develop and recommend controls for the identified control weaknesses or potential gaps in AML/CFT related policies and procedures.

• Support the team by reviewing suspicious cases when the volume is higher than the average or when there are staffing constraints that would limit the team’s capacity.

• Provide guidance to the AML/CFT Assistant Managers, Senior Officers and Officers on their investigations.

• Define and supervise the Quality Assurance process to review closed alerts and cases on a sample basis.

• Issue client exit requests for financial crime reasons and engage with the Business to further review the escalated cases. Supervise customer exits for financial crime reasons to ensure all mandated exists are being actioned as per the Bank’s internal procedures.

• Log and escalate all AML/CFT breaches or potential breaches.

• Review AML/CFT related training materials (i.e. e-learnings and face-to-face) and participate in the delivery of face-to-face trainings.

• Manage the available resources efficiently and prioritize system enhancement/upgrades.

Job Qualifications:

• Bachelor’s Degree as a minimum from a recognized university.

• ACAMS or ICA OR CFCS OR CRCMP is preferred.

• At least 6 years of experience in the banking/financial services sector (and three in an AML/CFT Compliance role).

• Good understanding and awareness of financial crime regulatory requirements and international best practice.

• Experience in analyzing and interpreting relevant regulations and regulatory requirements.

• Analytical and attention to detail.

• Problem identification and solving skills.

• Good written and oral communication.

• Management skills: ability to lead a team and manage performance.

• AML, CFT, ABC and Sanctions Training, Rule Management, Written Communication, Regulatory Relationship, Quality Control Analysis, Critical Thinking, Judgment and Decision Making, Complex Problem Solving, Social Perceptiveness.

• Team work skills to establish and maintain effective business relationship with key stakeholders.

• Motivated and positive. Assertive and confident.

• Strategic and innovative.

• Self-starter and independent. Showing and taking initiative.

• Team player

• Dealing with Regulators, External Auditors, Professional bodies, Law enforcement agencies, and CBD internal functions.









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