Analyst, Sanctions – Compliance

Company: United Arab Bank
Location: United Arab Emirates
Employment Type: Full-time
Description:
Job Purpose

The Sanctions Analyst will handle Sanctions Unit- BAU and Sanctions advisory under the direct supervision of the Assistant Manager Sanctions for effective Sanctions Compliance program and operation of the Bank’s Sanctions and Proliferation of weapons of Mass Destruction (PWMD) activities through available systems/tools, in line with the guidelines/parameters set by the regulatory agencies/authorities, applicable laws and relevant policy and procedures to protect the bank from the threats related to Sanctions and Proliferation of weapons of Mass Destruction.

Principal Accountabilities
• Having strong understanding of relevant regulatory requirements and industry best practices.
• Promptly review and action the alerts generated on a daily basis.
• Ensure to Review/analyze Alerts/Cases with active investigation of customer profile, detection scenario logic and the related transactions which have breached the Detection Scenario logic and take prompt /appropriate actions.
•… Provide appropriate recommendations/comments for disposition of alerts/cases on the investigation performed for an alert/case as a maker/checker.
• Ensure that all relevant alerts/cases for investigation are based on the ageing of the alert/case and are actioned timely.
• Promptly identify and highlight suspicious transactions to the Assistant Manager – Sanctions with complete investigations/documentations and related requirements for necessary action.
• Ensure complete investigation on alerts related to perpetual customer screening, payments screening, and trade related screenings are in line with Policy/ Procedures and Regulations and highlighting High Risk/ blacklisted customers for necessary actions.
• Conduct FFR/PNMR/IEMS and other regulatory requests in addition to Executive Office communications on time and keeping the Assistant Manager – Sanctions well informed.
• Provide proper Sanctions advisory to the concerned stakeholders based on the regulations and banks approved policy/procedures for transactions related to SWIFT and Trade Finance in consultation with the Assistant Manager – Sanctions.
• To handle Sanctions related projects, POV/POC, enhancements, UAT’s, implementations and keep the Assistant Manager – Sanctions well informed.
• To be constantly updated with local and Global Sanctions related regimes and prepare advisories for the business stakeholders.
• To identify risks and gaps related to Sanctions Unit and escalate the same to the Assistant Manager – Sanctions with an action plan for the resolution.
• Maintaining and updating proper list of Sanctions related individuals and entities in close coordination with the Assistant Manager – Sanctions.
• Maintaining effective coordination with Business Units and ensure that all inquiries/investigations received are handled properly and responded in a timely manner.
• Maintaining MIS / track and follow up with the relevant stakeholders for timely resolution of pending exceptions/alerts/cases and highlight the same to the Assistant Manager – Sanctions.
• Maintaining and updating Sanctions related various MIS’s.
• Promptly respond to all queries related to World –Check, Sanctions Application and Sanctions issues raised by branches and departments.
• Conduct sanctions examinations/reviews of the assigned areas, for identification, monitoring and reporting of suspicious activities.
• Support line manager to handling Regulatory/Internal Audit and External Audit requirements.
• Support line manager to handle and resolve any legacy/ongoing findings/observations related to Sanctions Unit from the regulators, IAD, External Auditors, Consultants etc.
• To maintain highest standard of confidentiality, professional conduct, ethical standards and integrity in the provision of services/activities and interactions in the department. To avoid conflicts of interest and act in the best interests of the organization.
• To handle any other project/task assigned by the Assistant Manager – Sanctions, Head of FCC/MLRO and Chief Compliance Officer.
• To ensure complete adherence of the banks policy and procedures.

Qualifications & Experience
• Bachler’s Degree in Business or Banking or Finance or Economics or any other related discipline.
• 3 – 5 years of relevant experience.
• Effective communication skills in English and Arabic are preferable.
• Previous experience in Compliance/Sanctions function in the banking industry.
• Local experience is desirable.
• Knowledge of UAE and international AML / CTF / Sanctions requirements.
• Knowledge of CDD and EDD processes, Sanctions tools, systems and applications.
• Understanding of sanctions strategies and processes.
• Knowledge of AML / CTF / Sanctions regulations and (FATF) standards.
• Experience of Anti Bribery and Corruption activities would be desirable.
• Professional certification such as the CAMS/ CGSS and/ or ICA would be desirable

Source: LinkedIn

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