Job description

JOB PURPOSE: 

Compliance Systems Governance and Model Validation Unit

The unit is responsible for managing the Group Compliance system monitoring and validation programme (as the second line of defence) to provide assurance that the Group is operating in line with regulatory requirements and internal compliance policies and procedures. This entails planning, development and implementation of a risk-based Group Compliance system Validation plan, working with other Compliance units to undertake reviews and issuing reports that provide assurance as well as highlighting deficiencies so that they can be corrected. The function also aids in the development of compliance reports to support the EXCO, Compliance Operating Committee, GCC and MRMC.

The Sanctions Model Validation Specialist will be responsible for validating and ensuring the accuracy, reliability, and performance of sanctions screening models. This role involves rigorous testing, analysis, and documentation to ensure compliance with regulatory requirements and internal standards.

KEY ACCOUNTABILITIES: 

Job Specific Accountabilities

Policies, Systems, Process & Procedures

• Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that the work is carried out in a controlled and consistent manner.

Key Responsibilities:

• Conduct comprehensive validation of sanctions screening models, including data integrity, model performance, and output accuracy.
• Develop and implement validation methodologies and frameworks in line with industry best practices and regulatory guidelines.
• Perform quantitative and qualitative analysis to assess model risk and performance.
• Collaborate with model developers, compliance teams, and other stakeholders to address validation findings and improve model robustness.
• Prepare detailed validation reports and documentation for internal and regulatory review.
• Stay updated with the latest regulatory requirements, industry trends, and advancements in sanctions screening technologies.
• Provide recommendations for model improvements and enhancements based on validation results.

Reporting

• Collaborate with Compliance SMEs, work closely with Subject Matter Experts (SMEs) in Compliance to develop Management Information (MI) dashboards related to compliance systems validation.
• Create periodic review plans and regularly report the status of these reviews to senior management.
• Track and ensure timely closure of any pending issues identified in previous reviews.

Contribute to the development of the annual review plan in accordance with regulatory requirements, internal audit (GIA) guidelines, and any ad hoc requirements. 

QUALIFICATIONS & EXPERIENCE: 

Minimum Qualification

• Bachelor’s or master’s degree in finance, Economics, Statistics, Mathematics, Computer Science, or a related field.
• Proven experience in model validation, risk management, or a similar role within the financial services industry.
• In-depth understanding of sanctions regulations and compliance standards, including OFAC, EU sanctions, and other international sanctions regimes. Understanding of CBUAE regulations is desirable.

Minimum Experience

• 7 to 10 years of experience with financial institutions, regulators, and/or professional services firms, focusing on Financial Crime Technology and Analytics work streams/services.
• Strong understanding of sanctions screening processes, regulatory requirements, and compliance standards.
• Proficiency in data modeling, and programming languages such as Java/Python.
• Good knowledge of Fircosoft products such as Firco Continuity, Firco Trust, and Firco Screen and Keep (FSK) along with good understanding of Firco rules, lists, and filter settings.
• Experience with Firco backend components and a good understanding of various component rules (decision reapplication, pairing, stripping, etc.).
• Good knowledge in data governance framework, including data quality, data lineage, and data stewardship etc.
• Experience in creating SQL queries and good knowledge in database management concepts.
• Understanding of data warehouse, master data management, and data lake concepts is added advantage.
• Excellent understanding of IT service management (ITSM) frameworks such as ITIL and other system performance monitoring controls.
• Good understanding of Disaster Recovery (DR) and Business Continuity Planning (BCP) concepts to validate system resilience and high availability.
• Ability to conduct comprehensive quantitative and qualitative analysis to assess model performance and risk. Additionally, proficiency in back testing, stress testing, and sensitivity analysis to evaluate model robustness.
• Ability to work independently and as part of a team, collaborating with model developers, compliance teams, and other stakeholders.
• Strong technical report writing skills for preparing detailed validation reports and documentation.
• Attention to detail and a commitment to maintaining high standards of accuracy and integrity.
• Certification in ACAMS, CGSS, ICA, etc., is an added advantage. 

About Us:
First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients.
Life at FAB:
Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to "Grow Stronger." We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization
Career Development:
FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development.
Our Values:
At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globaly that rewards your hard work and dedication.
Join our team and be part of a journey to shape the future of banking.