AML Manager (3 Months Temporary Contract)

Job Description

The incumbent would be responsible for identification, analysis, implementation, monitoring and reporting of Anti Money Laundering and Terrorist Financing requirements of UAE Central Bank. Responsible as a one point contact for internal staff and regulators on Anti Money Laundering issues.?Key Responsibilities/Output Expected

• Assist in Drafting and maintaining AML policy and instructions based on analysis of UAE Central Bank requirements/guideline.
• Ensure effective AML monitoring, covering all relevant accounts/product/activities in line with the bank?s risk based approach/policy.
• Manage the team for completing Transactions Monitoring and reviewing Daily alerts with 100% accuracy and ensure all the daily alerts are cleared on the same day from the date of alert.
• Manage the team for completing Transactions Monitoring and reviewing Monthly alerts with 100% accuracy and ensure all the monthly alerts are cleared within 3 weeks from the date of alerts.
• Lead the investigation and management of STRs (suspicious transactions reports) as assigned by Head of AML.
• Manage the team to perform follow-up on the Alerts assigned to RMs by sending reminders and escalate the case if there is response received on time.
• Responsible for conducting money laundering related investigations by analyzing customer transactions/ trend, drawing conclusion, and drafting Suspicious Activity Report for submission to Financial Intelligence Unit (FIU).
• Conduct special investigations and/or respond to the Enhanced Due Diligence queries raised by correspondent banks. Provide feedback (accurate information) within the agreed timelines.
• Receiving and analyzing Internal STR reports from the branches on customers and transaction. Conducting reviews for branches highlighting issues and following for their closure.
• Raising Suspicious Activity Report / Suspicious Activity Transactions for the unusual transactions/suspected accounts to UAE Central Bank.
• Assist of managing the activities of AML Unit to ensure that money laundering & Terrorist Financing Risks are adequately managed in line with the bank AML & CTF policies and procedures and international requirements.
• Perform second level of control on the AML function including the quality control of AML Monitoring on quarterly basis.
• Perform Key Control Self-Assessment for the AML Unit on monthly, quarterly, half yearly and yearly basis.
• Identification and guidance on Know Your Transaction standards for cash transactions, SWIFT wire transfers, manager?s cheques, clearing transactions. Approving exceptions in this regard.
• Supervise and coordinate with other departments / units on day to day basis to ensure achievement of objectives and targets as set by Head of AML.
• Actively participate, in Business applications/systems/process development/review. Provide value added recommendations to ensure that all systems, products and processes of the Bank have appropriate internal controls related to AML & Sanctions policy/requirements that would ensure protection of the bank assets/reputation.
• Identify all relevant new legal and regulatory developments in relation to Financial Crime, assessing their impact and assisting in developing action plans to mitigate the impact of regulatory change.
• Evaluate, train and motivate business/operations staff to enhance their skills and knowledge of evolving AML regulations. Establish and maintain training programs for the unit and for business/ operations in line with latest AML regulations.
• Assist the Head of AML to supervise and manage overall AML & CTF functions across all departments / units within the Bank.
• Ensure effective liaison between bank and regulators with regards to AML & CTF issues.
• Assist in Supervising and Managing overall AML & CTF function across all departments / units within the Bank and Subsidiaries.
• Assist the Head of AML in Promoting & cultivating the culture of compliance with AML & CTF requirements within the bank and its subsidiaries to ensure safe and clean business operations.
• Assist the Head of AML on daily basis for the assigned tasks.
• Providing Monthly periodic reports to Head of AML on AML controls implemented.
• Compile monthly, quarterly, annual, and ad hoc compliance reports for management review.

Keyskills :
FinanceBankingAuditingMoney LaunderingAML