Manager Compliance - AML (UAE National)

Role Overview

Manager Compliance - AML at Mashreq, based in the United Arab Emirates. This position is reserved for UAE nationals.

Role Purpose

Maintain comprehensive awareness of all applicable internal and external AML and CTF requirements, identify emerging risks to the bank, provide expert guidance to staff, and lead proactive investigations to ensure the bank remains compliant with all regulatory obligations and avoids investigation, fines, or reputational damage from regulatory authorities.

Key Responsibilities

Compliance Monitoring & Regulatory Affairs

• Maintain ongoing awareness and knowledge of all applicable internal and external AML and CTF requirements and existing or emerging legal and statutory environment.
• Assist Manager in monitoring compliance to statutory regulations and guidance notes issued by the UAE Central Bank and other regulatory authorities.
• Promptly escalate any critical issues to ensure the bank is not investigated, charged, fined, or publicly castigated by the UAE Central Bank or any other regulatory authority.
• Manage regulatory inspections of the AML and CTF area.
• Act as focal point to examiners and facilitate trouble-free examination.
• Ensure implementation and regularization of regulatory recommendations within agreed deadlines.
• Keep Head Office Compliance updated with regulatory progress.
• Maintain bank's AML and Customer Screening system at an optimum level, keeping false hits and alerts volume at a reasonable level.
• Undertake periodic review or self-assessment of key controls to assess quality and effectiveness.
• Conduct Compliance Monitoring periodically to ensure there is no lapse of AML and CTF requirements or policies.
• Report findings and submit recommendations for corrective action as required.

Investigations & Intelligence

• Lead complex, proactive, intelligence-driven investigations, leveraging resources from across the Group to support investigations involving multiple geographies or financial crime typologies.
• Manage complex investigations within AML Unit by providing guidance on complete quality analysis for reviewed cases at the analysis stage.
• Conduct special investigations and respond to Enhanced Due Diligence queries raised by law enforcement agencies and overseas branches or correspondent banks.
• Provide feedback with accurate information within agreed timelines.
• Highlight any key Financial Crimes risk throughout the review and analysis of customers' accounts to senior management in the form of Intelligence or Complex Investigation Reports.

Advisory & Guidance

• Provide AML advice and guidance to ECF staff members, business, and operations.
• To handle and provide guidance on AML-related queries which are more intricate in nature.
• Support MLRO or delegate for filing STR or SAR with the FIU.
• Engage with First Line of Defense (Business Segments) and Auditors on matters related to financial crime risks, due diligence, and customer relationship management.

Policy, Controls & Systems

• Implement AML monitoring procedures and controls.
• Introduce monitoring scenarios and parameters as appropriate; ensure all customer segments, products, and activities are covered within the ambit of the monitoring process.
• Provide Head of AML and Sanctions with assurance that all controls required under AML and CTF regulations are embedded within the bank's processes to avoid breach or establishing relationship with a blacklisted party.
• Contribute to development of products, systems, policies, and procedures, ensuring appropriate controls for AML and CTF compliance.

Team Leadership & Development

• Lead the respective teams in AML Unit at Head Office.
• Train and provide guidance to AML Unit including complex investigation team.
• Evaluate, train, and motivate business and operations staff to enhance their skills and knowledge of evolving AML and CTF regulation.
• Establish and maintain training programs for the unit and for business and operations in line with latest regulations.
• Manage Team Productivity and meet required targets.
• Manage the available resources effectively by creating a well-built and dynamic team.
• Manage team resources and create positive synergies amongst the team.
• Solid and strong People Management skills are essential.
• Manage and control resources within the team.

Stakeholder Relations

• Maintain a cordial working relationship with the Central Bank.
• Act as focal point for UAE Central Bank National Anti-Money Laundering Agency (FIU).

Qualifications & Experience

• Graduate with 10-12 years of total banking experience.
• At least 5 years of experience in AML Compliance area.
• ACAMS Certified or other recognized certification.
• Understanding of how transactions settle globally.
• Good knowledge and understanding of local AML and CFT rules and legislation, and international best practices and requirements.

Skills & Competencies

• Market knowledge of IT tools and software used for AML monitoring system.
• Organisational awareness including working knowledge of risks, products, processes, and controls.
• Computer literate with good knowledge of MS Excel and Business Object (BO) reports.
• Good command over spoken and written English.
• Good presentation skills.
• Efficient and logical approach to problem solving.
• Solid and strong People Management skills.

Additional Information

• This role requires notification for Central Bank approval or no objection; the incumbent is responsible for maintaining a cordial working relationship with the Central Bank.
• Position is reserved for UAE nationals.