Senior Associate - Sanctions Governance and Correspondent Banking

Job Description

Senior Associate - Sanctions Governance and Correspondent BankingJob SummaryThe Senior Associate - Sanctions Governance and Correspondent Banking will be functionally responsible to ensure that The Commercial Bank?s (?CB?) Sanctions and Embargoes Program has been implemented throughout all business divisions via CB Sanctions/ Embargo Policy.

• Responsible for ensuring that CB and its staff fully comply with all applicable national and international sanctions and embargoes.
• Review payment messages on which CB?s Screening System triggers alert(s) for: (i) adverse media reports; (ii) the potential violation of international/ local sanctions; (iii) violation of CB policies etc.
• Assist in maintaining compliance with OFAC, EU, UK and the State of Qatar?s sanctions regulations and CB policies.

• Monitor and review payment messages on which CB?s Screening System triggers alert(s) for: (i) adverse media reports; (ii) the potential violation of international/ local sanctions; (iii) violation of CB policies etc.
• Assess transactions flagged as suspicious by the bank?s sanctions screening system and ensure that:
• False positive hits are cleared within the bank?s risk appetite;
• Potentially positive hits are further investigated for the risk of violation of international/ local financial sanctions;
• For Large Corporate customers, RM is duly informed as to why a transactions (inward or outward) cannot be carried out by the bank due to the risk of violation of International financial sanctions; and
• Appropriate risk mitigation action plan is implemented e.g. blocking of a transaction and/or freezing of any asset related/ belonging to sanctioned parties
• For a complex sanctions screening scenario, the Associate to ensure that the case is effectively presented to the line manager or the Head of AML/CFT & Sanctions for further decisions and controls.
• Provide assistance in the list management process as a maker/ inputter of the list management process.
• Receive and address all correspondent banking inquiries related to CDD/KYC, payments, and request for information (RFI)
• Provide correspondent banks with the necessary assistance and information related to the Bank?s payment/s that failed their screening tests.
• Help/support/facilitate a customer to apply for a license when his/her payment(s) is/are unduly blocked by a competent authority e.g. OFAC.

• Accurately apply OFAC, EU, UK and the State of Qatar?s sanctions regulations, Sanctions Policy to payment messages.
• Demonstrate up to date knowledge of implementation of various sanctions regimes as to they evolve.
• Follow all relevant departmental policies, processes, standard operating procedures and instructions so that work is carried out in a controlled and consistent manner.
• Ensure full adherence to local and international laws on sanctions and embargoes, to ensure the protection of CB?s reputation amongst all local and international counterparts.
• Ensure all relevant quality, health, safety and environmental procedures, instructions and controls are adhered to so that the safety of employees, quality of products/services and environmental compliance can be guaranteed as per local laws and regulations.

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