Manager- KYC Review & Approval - Commercial Banking

Job Description

JOB PURPOSE: In accordance with the UAE and international Anti-Money Laundering / Counter Terrorist Financing and Sanctions related laws and regulations, financial institutions such as FAB are obliged to perform Know-Your-Customer (KYC) reviews on all new to bank clients as well as existing clients through periodic and trigger-based reviews.The core responsibilities of Manager, KYC Review & Approval is to perform duties as required in the relevant bank policies and departmental SOPs covering KYC Review & Approval process for Commercial Banking. The candidate will perform independent reviews of KYC files at the time of client on-boarding and KYC refresh as an Approver role. The candidate will ensure that the KYC files are complete in terms of required KYC information / documentation in accordance with banks policies / procedures and local regulatory expectations of the UAE Central Bank.Additionally, candidate will ensure that AML / CTF / Sanctions risks associated with the clients are appropriately assessed and mitigated before a decision is taken to onboard or retain bank clients and the Group KYC standards are adhered and enforced.KEY ACCOUNTABILITIES: Manager, KYC Review & Approval - Commercial BankingWorking for the Risk & Control (Group Operations) which will conduct the following activities:Main Objectives: Manger will act as a support to Team Leader (AVP) to local KYC Review & Approval team, working both as an individual contributor and guiding team along with offshore locations on day-to-day activities. Managers objective is to be accountable for the end-to-end KYC approval process, from the moment KYC is submitted to the approval team through reviewing the file from completeness as well as risk assessment perspective. Managers responsibilities also include providing Advisory on KYC process, policy requirements, screening, risk rating and risk matters, managing relevant stakeholders etc. Aligned to Banking Coverage teams he/she will work closely with products teams and other onboarding functions including KYC & Onboarding team, Business (RMs) and FCC/Compliance to deliver the service required.Key Role:

• Manage approval process for New to Bank Client Onboarding Process along with Periodic & Trigger Reviews in liaison with all stake holders. Ensure all clients are onboarded within the onboarding timelines agreed. Main stakeholders are Clients, Coverage Bankers (Region / Global), KYC Operations Team, Compliance, Offshore Support Team.
• Ensure compliance with UAE Central Bank regulations and bank policies/ procedures related to CDD, AML/CTF, PEP & Sanctions.
• Ensure CDD information/documentation is complete in line with bank policies / procedures & local regulatory requirements.
• Ensure ML/TF, PEP, adverse media & sanctions risks associated with the client are identified, assessed, and appropriately mitigated during CDD reviews.
• Escalation of risks identified during CDD reviews to the relevant stakeholders in FCC / Compliance and Business, where necessary.
• Advisory on bank policies / procedures, regulatory requirements, CDD Process and FCC risks such as PEP, adverse media, sanctions.
• Annual review of bank policies related to CDD, AML/CFT, PEP and Sanctions.
• Draft and implement CDD SOPs, CDD Checklist, Process Guidance Notes, CDD form, PEP form and Sanctions Exposure Questionnaire (SEQ).
• Support R&C in deployment & enhancement of CDD and other systems for the sake of automation.
• Annual review of CDD Risk Rating Methodology in coordination with FCC.
• Draft and implement CDD SOPs, CDD Checklist, Process Guidance Notes, CDD form, PEP form and Sanctions Exposure Questionnaire (SEQ).
• Experience in risk management field and proven experience in supporting the development of business activities whilst robustly applying risk management disciplines and controls.
• Previous experience of developing relationships by communicating, influencing, and negotiating effectively with business heads, senior managers, consultants m technical experts across the whole department and businesses.
• Proven business and operational experience with sound knowledge of the wide range and complex variety of Commercial Banking clients.
• Ensure adherence to all internal policies / procedures and external regulatory requirements at all times
• Previous experience on handing transaction reviews and analysis to identify suspicious account activities of the clients.
• Review questionnaires such as Wolfsberg, AML & Sanctions appropriately
• On need basis support AVP, Commercial Bankers, Business Compliance to conduct meetings and discuss process related challenges and sticky issues, where applicable.
• Perform independent analysis of high-risk factors and as an outcome of key risk indicators escalate the relevant case to FCC and Compliance teams.
• Prioritization - maintain the discipline in partnership with the local business. Communicate consistency to internal and external stakeholders to ensure that the KYC cases are accepted through the approved channels and expectations are managed appropriately.
• Along with managing KYC approval process for CDD delivery also support and participate in various change management & digital initiatives.

Relationship Management

• Develop and manage positive working relationships with all stakeholders across business lines and supporting functions including R&C units, KYC & Onboarding teams, Business (RMs), Regulatory Compliance, Business Compliance and FCC teams (Group CDD, Sanctions Advisory, AML Advisory, List Management etc).
• Support line manager, team members and other teams within Risk & Controls through providing timely assistance and solutions, on need basis.
• Resolve conflicts and provide effective solutions to the stakeholders.
• Efficient coordination with key stakeholders to get the job done in timely manner.

MI Reporting

• Ensure all departmental MIs for senior management reporting are timely maintained.
• Ensure KYC deferrals are updated in the relevant tracker and tracked to resolution.
• Preparation of presentations and dashboards on ad-hoc basis.
• Interact with other stakeholders and help the KYC teams achieve KIRs / KPIs.

QualificationsMinimum Qualification

• Bachelors degree or higher in management, audit, accounting, economics, banking, or finance.
• Preferably with certification in Compliance, KYC/AML/CFT, Sanctions, Financial Crime Risk Management (will be added advantage)

Minimum Experience

• Minimum of 3 years of experience in a reputable bank preferably within the areas of KYC/CDD, EDD, AML or FCC/Compliance functions.
• Relevant experience (KYC/CDD, EDD, AML/FCC related) with understanding of the Commercial BankingKYC requirements and industry best practices.
• Familiarity with AML/KYC related laws, regulations, and industry guidelines.
• Efficient work management and stakeholders management skills.
• Experienced with operating in a global regulatory environment
• Strong Microsoft applications knowledge
• Pro-active and business oriented with proven ability to prioritize, manage conflicting demands and ability to assess risks.

Keyskills :

About Company

FAB, the UAE’s largest bank and one of the world’s largest financial institutions offers a an extensive range of tailor-made solutions, and products and services, to provide a customised banking experience. Through its strategic offerings, it looks to meet the banking needs of customers across the world via its market-leading Corporate and Investment Banking and Personal Banking franchises.
Headquartered in Abu Dhabi, in Khalifa Business Park, the bank’s international network spans over 19 countries, across the world, providing the global relationships, expertise and financial strength to support local, regional and international businesses seeking to do business at home and abroad. In line with its commitment to put customers first, to Grow Stronger, FAB will continually invest in people and technology to create the most customer-friendly banking experience and will support the growth ambitions of its stakeholders across the global network in which the bank operates.