AVP, Compliance Systems Monitoring and Validation - Fircosoft

Role Overview

AVP, Compliance Systems Monitoring and Validation (Fircosoft) at First Abu Dhabi Bank. The role 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.

Company Overview

First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. FAB offers a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. The organization is committed to excellence and innovation, providing top-tier financial solutions to clients globally. FAB is a performance-based culture that supports career development through learning and development initiatives, with structured plans for the recruitment and career progression of Emirati talent.

Role Purpose

The Sanctions Model Validation Specialist will validate and ensure the accuracy, reliability, and performance of sanctions screening models through rigorous testing, analysis, and documentation to ensure compliance with regulatory requirements and internal standards. The role entails planning, development and implementation of a risk-based Group Compliance system Validation plan, working with other Compliance units to undertake reviews and issue reports that provide assurance, highlight deficiencies for correction, and aid in the development of compliance reports to support EXCO, Compliance Operating Committee, GCC and MRMC.

Key Responsibilities

Policies, Systems, Process & Procedures

• Follow all relevant departmental policies, processes, standard operating procedures, and instructions to ensure work is carried out in a controlled and consistent manner.
• 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.
• Stay updated with the latest regulatory requirements, industry trends, and advancements in sanctions screening technologies.

Validation & Reporting

• Prepare detailed validation reports and documentation for internal and regulatory review.
• Provide recommendations for model improvements and enhancements based on validation results.
• Collaborate with Compliance Subject Matter Experts (SMEs) 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

Education

• Bachelor's or Master's degree in Finance, Economics, Statistics, Mathematics, Computer Science, or a related field.

Professional 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 and services.
• 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.

Certifications

• Certification in ACAMS, CGSS, ICA, or similar is an added advantage.

Skills & Competencies

Technical Knowledge

• Strong understanding of sanctions screening processes, regulatory requirements, and compliance standards.
• Proficiency in data modeling and programming languages such as Java or Python.
• Good knowledge of Fircosoft products including 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 good understanding of various component rules, including decision reapplication, pairing, stripping, and others.
• Good knowledge of data governance frameworks, including data quality, data lineage, and data stewardship.
• Experience in creating SQL queries and good knowledge of database management concepts.
• Understanding of data warehouse, master data management, and data lake concepts is an 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.
• Proficiency in back testing, stress testing, and sensitivity analysis to evaluate model robustness.

Soft Skills

• 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 commitment to maintaining high standards of accuracy and integrity.