Company: Commercial Bank
Location: Doha, Qatar
Employment Type: Full-time
Description:
JOB PURPOSE/SUMMARY:
The role is a leadership role in Sanctions Governance and Correspondent Banking Team, which is functionally responsible for design, development, implementation and monitoring of the bank-wide Sanctions Compliance and Trade Based Money Laundering (TBML) programmes.
KEY ACCOUNTABILITIES:
The key responsibilities of the underlying role include but not limited to:
1) Perform ongoing oversight and operational management of the Sanctions Governance team
2) Perform bank-wide risk assessment to identify the Bank’s exposure related to the risk of Trade Based Money Laundering (TBML) and breach of local/international Sanctions, including but not limited to the sanctions imposed by UN, OFAC, UK-HMT, EU, and Qatar NCTC etc.
3) In view of the bank’s exposure to the risk of TBML and breach of local/international Sanctions, develop appropriate risk strategies by enhancing the bank’s controls related to TBML and Sanctions e.g. the development of appropriate Policies… Procedures, Systems and Controls.
4) Work collaboratively with the team to provide timely, accurate and sound advice to business in the area of Sanctions and TBML, including advice related to customer payments and bank transactions in the context of local/international Sanctions.
5) Manage ongoing customer and payment screening activity conducted by Sanctions Governance team, ensuring that appropriate and swift actions are taken in relation to the payments stopped by the bank’s filters.
6) Manage ongoing TBML monitoring activity conducted by Sanctions Governance team to ensure that the underlying TBML risk is appropriately mitigated,
7) Participate in the development of TBML automated scenarios and manual reports and conduct periodic effectiveness assessment of TBML scenarios.
8) Ensure timely and accurate processing of name search requests received from local regulators and law enforcement, and taking the necessary actions to block/freeze accounts/assets of designated persons in line with QCB regulations.
9) Maintain a robust list management programme to ensure that the bank and its customers do not do business with sanctioned parties or deal in banned materials etc. Actively manage black- and white lists ingested in the bank’s screening systems.
10) Tune the bank’s Sanctions and Adverse Media screening systems, which includes associated rules, settings and scoring methodologies.
11) Represent the bank in all interactions with correspondent banks on Compliance, AML/CFT and Sanctions related matters. Receive and respond to correspondent banks’ inquiries in a timely and accurate manner. Conduct periodic AML/CFT and Sanctions assessment of “vostro” correspondent banking accounts and respective third-party financial institutions.
12) Analyse data, prepare and present reports related to Sanctions and Adverse Media screening, risk assessments, and monitoring of Sanctions related issues and escalations to senior management and correspondent banks.
13) Assess and provide advice on new business initiatives and new products from Sanctions perspective.
14) Partner with stakeholders within Compliance, Operations, IT and business units, as applicable, to ensure potential risks are appropriately vetted and addressed. Identify and escalate to the Head of AML/CFT and Sanctions the material risks and JOB DESCRIPTION APPENDIX I 2 significant instances of not adherence to the bank policies and procedures by the accountable front line units are appropriately reported.
15) Monitor adherence to the Commercial Bank’s Sanctions Policy and relevant procedures; staying current on key Sanctions regulatory changes, key enforcement actions and related industry trends. 16) Oversee adherence to procedures and processes, to ensure compliance with the relevant policies and procedures by ensuring that front line units meet required standards. Promoting global consistency of Sanctions compliance practices and policies – within the business lines.
17) Interact with senior management to raise awareness of Sanctions trends, emerging issues, remedial actions or enhancements to the Sanctions Compliance Program. Assessing the impact of issues/violations (legal/regulatory, policy, reputational, etc.), streamline control gaps and help management to define disciplinary and corrective actions, as appropriate.
18) Work collaboratively with the team to provide advice to business with respect to applicability of policies and implementation of the economic sanctions program and regulatory changes.
19) Work closely with vendors on a day-to-day and periodic basis to perform the model validation to ensure that Sanctions Screening tool is effectively operating and creating results in line with the Bank’s risk appetite statement.
20) Perform yearly above the line/ below the line testing to ensure that the Sanctions screening tool is tuned in a way that it does not skip and positive matches as well as it does not create unnecessary false positive alerts.
21) Communicate and coordinate with internal departments such as business units, internal audit, senior management, IT, EPMO and more to answer vendor questions and oversee vendor related tasks and activities.
22) Provide and arrange training and development plan/ programme related to Sanctions Compliance and countering the Risk of TBML.
KEY COMPETENCIES:
1) Strong people management skills to manage and develop a diverse team
2) Ability to interact and build strong relationships with people at all levels of the organization, in particular with IT, Project Management, Audit, Legal, correspondent banks, respondent FIs etc.
3) Strong knowledge of local and international financial sanctions.
4) Strong practical knowledge sanctions screening systems and technical solutions.
5) Experience of tuning of screening systems, which includes associated rules, settings and scoring methodologies.
6) Good policy/procedure writing skills
7) Ability to multi-task and work under pressure
8) Ability to understand and comprehend financial products and complex Sanctions violations typologies and patterns
9) Excellent organizational and time management skills.
10) Excellent research skills including experience with on-line search tools, particularly in the area of researching public and nonpublic information as part of enhanced due diligence.
11) Advanced skills in the use of Microsoft Office, including MS Excel and PowerPoint.
12) Strong attention to detail and follow-up skills.
13) Strong writing, analytical and communications skills.
14) Ability to make decisions independently and solve problems.
15) Ability to perform an impact analysis with regards to the new regulations and international standards
Required Qualifications:
• Bachelor or Master degree in economics, business, law, accounting or equivalent.
• CAMS or CGSS is preferable.
Required Experience:
At least 7-8 years’ of relevant experience in Sanctions Compliance in large international banks, including at least 4 years in positions of progressively increasing supervisory responsibilities in the domain of Sanctions Compliance and TBML.
Knowledge & Other skills:
• Excellent oral and written English (mandatory)
• Strong knowledge of local and international sanctions including but not limited to UNSCR, OFAC, UK-HMT, EU, and NCTC etc.
• Strong data analysis skills
• Good planning and organizing skills
• Advanced skills in the use of Microsoft Office, including MS Excel and PowerPoint
• Strong people management skills to manage and develop a diverse team
• Diligence, resilience and ability to work under pressure
Source: Qa.linkedin.com
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