VP- Sanctions Advisory

Job Description

JOB PURPOSE:Reporting to the SVP& Head of Sanctions, Financial Crime Compliance, and the main responsibility of this role is to support the business areas covering Sanctions Advisory for the Group and ensure that efforts are made to align the related policies and procedures with regulatory requirements and applicable laws and regulations. The person will also handle Sanctions Compliance governance across FAB group, manage relationships with internal and external stakeholders, implement controls across the department,The role holder may from time to time be assigned to other managerial tasks within Legal and Compliance to support divisional requirements.KEY ACCOUNTABILITIES:Job Specific Accountabilities

• Sanctions Alert Risk Advisory must be able to build and maintain productive business relationships with regulators and management across the regions must have strong project management skills and the ability to work cross-functionally across the regions to effectively deliver the role purpose

Support the SVP& Head of Sanctions ? Financial Crime Compliance Management in performing the following:Job Specific Accountabilities

• Sanctions Alert Risk Advisory must be able to build and maintain productive business relationships with regulators and management across the regions must have strong project management skills and the ability to work cross-functionally across the regions to effectively deliver the role purpose.

Support the SVP& Head of Sanctions ? Financial Crime Compliance Management in performing the following:

• Lead and manage the creation, implementation and monitoring of the framework and plan for Sanctions that properly addresses the Compliance needs and requirements.
• Act as SME by providing timely and accurate advisory to the different business divisions across UAE and international branches and subsidiaries on any critical regulatory obligations or related to Sanctions policy/ procedure matters.
• Lead and manage effective Sanctions program governance & oversight on Business units, support functions and international compliance teams across the Group.
• Responsible to develop and design Group Sanctions policies and procedures in line with the international and local regulations and scale governance by aligning group wide appetite over Sanctions processes.
• Responsible for initiating and supporting the delivery of the Sanctions compliance strategy and implementation of risk-based controls across the Group.
• Act as SME in Transactions and Customer Sanctions screening processes. Provide oversight and recommendations regarding sanctions alert advisory cases and manage investigations into suspected Sanctions violations/breaches
• Responsible for providing guidance on the specific Sanctions risks associated with prospective new business, Operations processes, products and services and provide mitigating controls as second line of defense.
• Manage the monitoring and follow up of all remedial actions suggested by internal audit or external regulatory authorities to ensure its timely implementation.
• Manage and lead the creation and execution of the compliance training in alignment with regulatory requirements for the related divisions across the group.
• Manage sanctions-relevant reporting obligations to senior management and requests for information (RFI) received by the CBUAE, law enforcement agencies, Correspondent Banks
• Oversee the design and development of Sanctions Risk Assessment and act as a key stakeholder in agreeing remedial actions to enhance the Sanctions Compliance program
• Lead and oversee FCC Risk and Control Self-Assessment and Business Continuity Plan activities and provide support in the FCC Enterprise-Wide Risk Assessment (EWRA)
• Keep abreast of related rules, regulations and best practices pertaining to Sanctions, assess its impact on FAB and update the business functions accordingly.
• Escalate to the SVP & Head of Sanctions any other sanction related matters that require further guidance in a timely and complete manner
• Execute other duties as directed by SVP & Head of Sanctions or by SVP & Head of Financial Crime Compliance

Authorities

• Managing the Bank?s Group Sanctions Compliance function
• Managing Bank?s compliance with standards and regulations
• Other authorities as directed by the Head of Financial Crime and the Head of Compliance

Keyskills :