JOB PURPOSE

 To complete due diligence on new to bank client on-boarding, monitor existing clients to rule out money laundering/terrorist financing/sanctions risks, investigate and report unusual/suspicious cases to UAE Central Bank in order to comply with regulatory requirements and mitigate risk for the bank.

ACCOUNTABILITIES

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.

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.

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 interaction

Skills

At least 4 years of experience in banking in compliance, branch or operations department.

Minimum Qualifications

Bachelor's Degree in Finance, Accounting, Commerce or Business Administration.

 Knowledge and Skills

Proven experience in conducting comprehensive Know Your Customer (KYC) and Enhanced Due Diligence (EDD) processes within a business or corporate environment.

Demonstrated expertise in handling high-risk cases, with a strong understanding of risk assessment methodologies and regulatory requirements.

Familiarity with second-line defense functions, including the ability to provide specialized support and guidance to enhance risk management practices.

Excellent analytical skills, with the ability to effectively identify potential vulnerabilities and assess the adequacy of controls to mitigate risks.

Strong knowledge of relevant regulations and industry best practices pertaining to KYC, EDD, and anti-money laundering (AML) compliance. 

Microsoft Office (Word, Excel and PowerPoint)

Understanding of account opening and customer documentation

Knowledge of customer transactions and behaviours

Exposure to banking transactions

Understanding of local/International and Central Bank rules and regulatory requirements

Understanding of banking systems, reports and workflow