AVP- Compliance

Job Description

JOB PURPOSE: To provide compliance support to Magnati on all compliance matters as per the applicable regulatory and compliance requirements, Magnati risk appetite and any other specific requirements that may apply jurisdictionally.Understand how Magnati operates and maintain business, technical and product-based knowledge for the business area/s that are under responsibility.Understand and act as a Subject Matter Expert (SME) for the CBUAE regulations and UAE Federal Laws as well as Magnati policies and procedures.Be the first point of contact for comprehensive risk-based support for the business and assume any further delegated responsibilities by the Head of Compliance.Attend all Mandatory and related training to attain insight of Magnatis businesses, products, services as well as compliance requirementsProvide day-to-day Compliance Advisory support to all business area/s under responsibility for all business-as-usual matters on an ongoing basis and as may be delegated by the Head of ComplianceMaintain an ongoing relationship and work in close contact with Business and Group functions to ensure appropriate support is provided on all Compliance Business Advisory matters.KEY ACCOUNTABILITIES: Strategic ContributionSupport implementation of Magnatis Compliance strategy and be the key contact point for all compliance related mattersPeople ManagementNot applicable .Budgeting and Financial PlanningSupport the Head of Compliance to prepare and recommend Magnati Compliance Teams budget and monitor adherence to budget, while ensuring all sectional activities are conducted in line with the approved guidelines.Policies, Systems, Process & ProceduresSupport Magnati to adhere to Compliance policies, procedures, and processes.Continuous ImprovementIdentify opportunities for continuous improvement to related systems, processes and practices based on risks and control deficiencies identified.ReportingProvide guidance and support in generating any regular or irregular report requestsPrepare MI related to Magnati as and when required.Job Context Advisory and AdministrationProvide Compliance advice to internal and external stakeholders as required.Develop and strengthen relationships to promote best practices and ensure a good understanding of Compliance requirements across Magnati.Assist the Head of Compliance in the documentation of Magnatis policies and procedures and where necessary procedures in line with FAB and Brookfield Group Compliance Policy and ProceduresAssist Head of Compliance in providing business advice for the Magnati new policies, procedures and processes.Provide advice for the Magnati product review process and financial promotions.Advise Business Units with technical insights and build credibility based on an understanding of their challenges related to products, customers and transactions.Provide updates to Magnati business on compliance requirements, best practices, market news, international regulations, hot topics and regulatory changes.Assist Head of Compliance in support of Magnati business units during CBUAE audits and in responding to ad-hoc requests from CBUAE.Review account closures following decision to exit for Compliance reasons.Provide support in regulatory and/or policy breach handling and breach reporting.Specific Accountabilities:Provide Compliance advice to internal and external stakeholders as required.Develop and strengthen relationships to promote international best practices and ensure a good understanding of Compliance requirements across entire magnate business.Advise Business Units with technical insights and build credibility based on an understanding of their challenges related to products, customers, and transactions.Provide updates to the areas under responsibility on compliance requirements, best practices, market news, international regulations, hot topics, and regulatory changes.Act as a subject matter expert for Magnati products and processes and provide expert advice on both Regulatory Compliance (RC) and Financial Crime Compliance (FCC) risks associated with all of Magnati Business activities. Escalate to Magnati Head of Compliance if required.Support the respective Business Units during CBUAE and any other regulatory bodies audits and coordinate the submission of the related information as may be requested by CBUAE.Assist Head of Compliance with any regulatory reporting as maybe required by regulation from time to time.Assist in conducting compliance awareness and training sessions for staff of the areas under coverage a periodic basis and in line with the functions training plan.Understand the end-to-end processes of the areas that are under coverage and highlight possible compliance related concerns and assist the teams to mitigate these concerns.Assist Head of Compliance in providing guidance and advice on KYC related matters and screening matches escalated to you.Financial Promotions, Gifts / Hospitalities: Attend to escalated requests.Assist in the rollout and execution of annual Enterprise-Wide Risk Assessment (EWRA) process and in finalising the EWRA issuesAssist in the rollout, execution of Risk and Control Self-Assessment (RCSA) for the function and resolution of RCSA issuesReview and maintain logs for Compliance KRIs.Support the Head of Compliance in setting up compliance related systems for Magnati. QualificationsQUALIFICATIONS & EXPERIENCE: Core CompetenciesAn understanding of regulations and legislations/laws that affect the magnati business.Strong project management skills with an ability to work cross-functionally.Strong leadership skills with the ability to work as a team player.Ability to cope with and thrive in a non-routine environment, think creatively, and develop innovative solutions to compliance related concerns.Very strong written and verbal skills, preferably in both Arabic and English.Minimum QualificationBachelors degree or higher in Business and technology related field such as Information technology, Management, Finance or Accounting.Certification(s) in AML and Compliance or similar are preferable.Minimum ExperienceMinimum of 10 years of working experience in a financial institution including bank and non-bank financial institutions with a combination of experience in Compliance (FCC, Regulatory and Business Compliance Experience), payments, retail banking products like credit cards, prepaid/WPS cards and E-wallets.

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.