AVP- Financial Investigations (UAE National)

  • Full-time
  • Sub Division: Financial Crime
  • Division: Group Compliance

Company Description

Now it’s your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We’re looking for the brightest and best to help us reach our goals and we’ll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.

Job Description

Job Purpose:

To support and execute activities of the MLRO team in relation to Suspicious Transaction Reporting (STR) reporting. The job purpose entails performing investigations, assessing the financial crime risks and proposing cases to MLRO for final decision-making with proper recommendations and risk mitigations. In addition, AVP-FI is also required to ensure the day-to-day mandatory activities for the unit are functioning smoothly and come-up with solutions for the betterment of the department.

 Job Specific Accountabilities:

Support VP, FI with the following activities

  • Develop FIU framework which includes designing policies, procedures, systems in order to support the reporting of suspicious transactions and creating awareness regarding the AML function
  • Implement Transaction Monitoring and Suspicious Transaction Reporting measures in line with applicable laws, regulations and the Bank internal guidelines
  • Oversee and effectively manage reported unusual activities and suspicious transactions
  • Ensure timely reporting of unusual activities and suspicious transactions to the MLRO and Regulatory Authorities
  • Provide SME advisory to the business, support functions, international branches and subsidiaries on transaction monitoring and suspicious activities/transactions matters
  • Develop and deliver focused training to FLOD and Businesses on handling AML alerts and reporting suspicious transactions
  • Ensure bi-annual reporting takes place with the regulator in the form of MLRO report
  • Identify AML related issues within the businesses and ensure material risks are reported on a monthly basis to appropriate governance forums – BRCC, Group Compliance Committee etc
  • Ensure issues identified by Group Internal Audit (GIA) are closed in a timely manner with proper resolution
  • Identify jurisdictional FIU issues and assist businesses and international locations in resolving these in a timely and effective manner
  • Provide expertise and support to Monitoring and Assurance team to enable them to conduct effective reviews and test for the FIU space
  • Enhance Governance and assist Businesses, FLOD, Risk & Control and International locations develop their FIU framework
  • Provide SME advisory to the business, support functions, international branches and subsidiaries
  • Provide AML risks and solutions to the design, development and maintenance of systems implemented for FIU, in line with local and international laws and regulations
  • Identify opportunities for technological advancements and simplification of processes
  • Ensure Compliance expertise is provided in activities related to data migration into new systems identified
  • Work alongside Compliance technology to ensure necessary budget approvals are obtained for driving processes and regulations using technology
  • Ensure regulatory matters are attended in a prompt and efficient manner
  • Provide adequate support to stakeholders to assist identify and report suspicious transactions
  • Proactively anticipate and assist business manage the emerging AML typologies
  • Provide adequate support to stakeholders on regulation and policy interpretation
  • Build and maintain good relationships with businesses to create a seamless environment culture
  • Investigate internal STRs (ISTRs) that have been raised to the MLRO team from different sources
  • Analyse the ISTR’s including but not limited to reviewing all documents provided by the reporting party, seek additional feedback as required from FLOD Operations or Business in order to make a sound judgement on the cases
  • Prepare a comprehensive proposal for MLRO or designate giving proper recommendations and risk mitigations
  • Ensure MI of STR’s reviewed is maintained and kept up-to-date at all times
  • Based on MLRO or designates feedback, raise the case in reporting system or close the case internally with proper documentation
  • Track and manage all recommendations that have been made to the business or by MLRO or designate on the cases
  • Track and manage regulatory responses on filed STRs and determine whether all risk mitigations are executed
  • Engage with Business Compliance as required to resolve the cases
  • Review and propose changes to scenarios, rules and thresholds in the transaction monitoring systems, processes and practices based on risks and control deficiencies identified
  • Stay abreast of related AML/CFT laws, rules, regulations and best practices pertaining to transaction monitoring and STR filling
  • Support in execution and program management of financial crime related projects as per the project guidelines set by the compliance governance department
  • Prepare responses to the AML questionnaires requested by correspondent banks
  • Assist with any ad-hoc tasks that may be assigned by Line Manager or MLRO


Minimum Qualification

  • Bachelor’s Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, AML/CFT, Financial Crime Compliance or Risk Management

Minimum Experience

  • At least 5 years of business experience in an AML Compliance role
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