Compliance Specialist

Job Description

Job Purpose:Reporting to the Manager, the incumbent will be responsible for performing and leading periodic reviews related to NTB accounts, payments and customer screening in accordance with Compliance Risk Assessment Tool, Internal policies and procedures, local and international regulatory requirements while demonstrating an understanding of the risk profile of the Retail Bank, Private Bank and C&IB Bank client segments.This role will require competence across the following areas:

• Take an active role in ensuring that the Banks customers satisfy local and international legal and regulatory requirements in relation to financial crime and Emirates NBD standards through the application of appropriate procedures.
• Document conclusions for reviews performed in concise management reports and provide awareness around significant risks and daily MIS must be stored for audit purposes.
• Identify areas of risk and recommends on operational improvements, processes and any training essential to mitigating risk. Ensuring a robust escalation process to Senior management

Key activities and key competencies

• Knowledge of local and international regulatory and legislative due diligence (DD) requirements and appreciation and awareness of industry best practise and standards.
• Interpret and implement quality assurance standards and procedures.
• Assist in departmental projects as required and any other tasks assigned by the respective line manager.
• Participate in and lead team discussions on the calibration of findings and build consensus prior to finalizing records.
• Track and review Quality Assurance observations with the Line of Business and Quality Control management team.
• Perform quality evaluations on defined samples of various work streams, question and investigate the reliability and integrity of data, the validity of conclusions and the appropriateness of assumptions made.
• Perform root cause analysis and make recommendations for addressing any identified deficiencies.
• Follow up with business to ensure corrective action addresses policy and operational issues identified
• Strong interpersonal skills.

Duties and responsibilities:

• Perform quality evaluations on defined samples of various workstreams. Participate in and lead team discussions on the calibration of findings and build consensus and draft reports prior to finalizing records. Track and review Quality Assurance observations with Senior Management
• Participate and contribute in Team meetings, workshops and daily huddles.
• Act as a positive influence in maintaining a collaborative culture.
• Ensure Quality Assurance unit is well trained to meet and address all Internal Audit queries.
• Follow-up with Business to ensure necessary actions are taken to close out the audit observations in the area of AML and CDD.

Qualifications

1. The incumbent will have a degree education as minimum, preferably a post graduate qualification.
2. Compliance qualifications from an internationally recognized body is desirable like ACAMS, International Compliance Association certifications / diploma, etc.

Experience:

1. The incumbent will have at least 3 years compliance experience in the financial services industry, preferably Retail Bank, Private Bank and C&IB Bank in a recognized market. Very good experience in on-boarding clients, performing Quality Assurance reviews etc.
2. UAE experience preferred

Knowledge and skills:

1. Good understanding and awareness of regulatory requirements, international best practice, Anti Money Laundering and Sanctions requirements, especially the UAE Central Bank.
2. Problem identification and solving skills
3. Good written and oral communication skills
4. Ability to communicate well
5. Good time management skills and adherence to deadlines essential.

Keyskills :

About Company

Emirates NBD was initially formed as National Bank of Dubai (NBD) on 19 June 1963 by then Dubais ruler Sheikh Rashid bin Saeed Al Maktoum, forming the first national bank established in Dubai. NBD merged with Emirates Bank International (EBI) on 6 March 2007, to form Emirates NBD. On 16 October 2007, the shares of Emirates NBD were officially listed on the Dubai Financial Market (DFM).