Job Purpose:

The Manager, UAE Compliance is a key member of the UAE Compliance Team and is responsible to implement and oversee NBO UAE’s Compliance Program relating to AML/CFT/CPF and Regulatory laws and ensuring timely and accurate response to all regulatory queries and standard or ad hoc regulatory returns. The role is also responsible to carry out ad hoc review of the AML/CFT/CPF program to ensure compliance with all Regulatory and NBO internal policies & procedures and ensure any breach of applicable requirements are escalated to the Head of Compliance, UAE, in an appropriate.

Key Tasks and Duties:

• Manage the implementation of AML/CFT/CPF and Sanctions programs within NBO UAE to address and mitigate current risks and proactively address emerging AML/CFT/CPF and Sanctions threats.
• Stay updated on relevant laws, regulations, and best practices related to AML/CFT/CPF and Sanctions, assessing their impact on NBO UAE. Monitor relevant sanctions lists (OFAC, EU, UN, UKHMT, and others) to ensure compliance with regulatory requirements.
• Ensure all AML/CFT/CPF and Sanctions risks are effectively identified through comprehensive risk assessments conducted across business units and the compliance division.
• Promptly identify and escalate any violations of AML/CFT/CPF and Sanctions policies and procedures.
• Continuously identify and implement improvements to systems, processes, and practices based on risk assessments and control deficiencies.
• Cultivate and strengthen internal relationships to promote best practices and enhance understanding of AML/CFT/CPF and Sanctions requirements across NBO UAE.
• Ensure timely remediation of gaps identified during internal and external audits as well as regulatory supervisory reviews.
• Oversee the management of alerts generated by transaction monitoring and sanctions screening systems, making decisions on escalated cases.
• Supervise activities related to monitoring banking transactions for AML/CFT/CPF compliance, including identifying potential money laundering and terrorist financing activities.
• Review the outcomes of sanctions investigations, presenting findings to the Head of Compliance (UAE) and documenting rationale for decisions on suspicious transactions.
• Consolidate and review potential sanctions breaches from all business lines and escalate matters to senior management as required.
• Support the Head of Compliance & MLRO UAE in reporting Suspicious Transaction Reports (STRs) to the Financial Intelligence Unit (FIU) and liaise with the FIU on suspicious transaction matters.
• Provide oversight and assistance in the screening of international payments and trade finance transactions to ensure compliance with AML/CFT/CPF and sanctions regulations.
• Manage and maintain the watchlist filtering application for payments.
• Serve as a subject matter expert (SME) for AML/CFT/CPF, Sanctions, KYC/CDD and other Compliance related matters, advising UAE businesses and other units.
• Provide advisory services on escalated issues, such as due diligence on customers, trade transactions, and remittances.
• Ensure requests from the Central Bank of the UAE to Search & Freeze/ Close accounts and similar ones are executed promptly.
• Act as the AML/CFT/CPF and sanctions SME in the new product review process for NBO UAE.
• Review AML/CFT/CPF questionnaires and support the Head of Compliance UAE in responding to queries from correspondent banks.
• Own and oversee the effectiveness of the transaction monitoring and sanctions screening systems are remain up-to-date and effective. Also ensuring they meet operational controls and regulatory requirements.
• Collaborate with the compliance technology team to ensure AML/CFT/CPF and sanctions monitoring systems.
• Lead User Acceptance Testing (UAT) for system updates, new functionalities, and upgrades related to AML/CFT/CPF and Sanctions.
• Lead or participate in periodic reviews of AML/CFT/CPF and sanctions-related processes as per the compliance review plan.
• Ensure the proper retention and safeguarding of all official records and documentation related to AML/CFT/CPF and sanctions compliance.

Qualifications:

• Master's Degree in Banking, Finance, Business, Science, or a related subject:
• ACAMS certification or equivalent.

Experience:

Minimum 8+ years of Compliance FCC experience gained at a top tier international bank or a large local bank, which includes 5-6 years of experience in the AML/CFT/CPF and Sanctions, Regulatory Compliance domain.