Job Purpose

To complete due diligence on new to bank client on-boarding, monitor existing clients to rule out ML/FT risks, investigate and report unusual/suspicious cases to UAE Central Bank, de-risk flagged customers and perform system testing and maintenance in order to comply with regulatory requirements and mitigate risk for the bank.

Job Accountabilities

1. 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.
2. 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.
3. Perform monitoring activities as per Onboarding Guidelines and KYC SOP.
4. Ensure information for MI related to On-boarding & KYC is prepared and presented on a periodic basis.
5. Remain updated on internal and external developments to identify emerging high-risk AML/CDD issues and incorporate controls in bank’s policies.
6. Conduct AML/CFT due diligence assessments on existing clients and new to bank account opening requests within the internal KYC SOP and approval matrix.
7. Follow up with business teams on periodic KYC reviews that are due for refreshing along with periodic monitoring of customer expired identifications.
8. Assist in review outcomes for parameter changes in the client on-boarding & AML systems, conduct testing for automated solutions, assist in identifying potential weaknesses in processes and necessary fixes.
9. Compliance Project Support - Support projects arising out of changes in regulations in order to ensure remedial actions are completed and fulfil regulatory requirements.
10. Act as an advisory to employees providing guidance on actions to take when dealing with high-risk accounts, contribute to the formulation of policies, procedures, and training materials to support compliance with regulatory requirements.
11. Establish effective and collaborative relationship with all internal and external stakeholders.
12. Ensure effective escalation within the department and implementation of procedures alignment with regulatory requirements and policies.
13. Participate proactively in various information streams to gather appropriate knowledge on industry developments and regulatory developments.
14. Make recommendations to the Assistant Manager, KYC onboarding for filing suspicious transaction report (STR/SAR) filed with the FIU.
15. Ensure that all reports related to AML analysis and KYC are prepared timely and accurately and meet Invest Bank’s requirements, policies, and standards.

Qualifications, Experience & Skills

Qualifications

1. Bachelor’s degree in law, economics, or business administration.
2. Professional compliance / AML qualification will be an added advantage.

Experience

4–6 years relevant experience in KYC / AML control positions.

Job Specific Skills

1. Good knowledge in local and international laws and regulations.
2. Good problem-solving skills.
3. Good verbal and written communication skills.
4. Ability to work under pressure and adjust quickly to changing priorities.
5. Good computer and MS office skills.
6. Good Time management.
7. Ability to work well in a team.

Preferred Certification/ Training

CAMS or any equivalent certification

Generic Skills Requirements

1. Attention to details.
2. Digital Literacy.
3. Organizing skills.
4. Strong team player.