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Responsible for supporting execution of a robust Compliance Payments Monitoring Program for the bank ensuring adherence to the policies and procedures of the bank to confirm compliance with the Regulatory guidelines regarding Sanctions Screening and other monitoring requirements.

Responsible for the First Line of Defense Surveillance activities undertaken for:-

• Sanctions (Payments) Screening
• Adherence to MSP (Money Service Business), Fraud , Military, AML, MLRO Payments Screening
• Investigation of the alerts prior to escalation to Group Compliance

Ensure the monitoring program covers the complexities of regulations and procedures required to be adhered to by all FAB jurisdictions

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

Strategic Contribution

• Accountable executive for execution of Bank’s Group-wide Compliance strategy for Payment screening within the First Line of Defence to ensure the efficient management of the Sanctions Payment Screening team ensuring vertical alignment and horizontal integration with other interfacing departmental strategies.
• Supporting UAE and all international locations during regulatory review of the respective business by country regulators.
• Managing payment screening process for UAE and all international locations for Payment screening, review of over 15000+ payments for review against Sanctions and Counter Terror Finance (CTF) program.
• Stay abreast with the controls environment, control appropriateness and effectiveness and control testing tools and techniques available within the Bank and work closely with the Second Line in Group Compliance to continuously identify and define requirements, gaps, and strategies to manage the Risk Appetite of the Bank.
• A good understanding of monitoring and control testing tools and techniques ability in line with the Bank’s defined control testing and monitoring objectives.
• Understanding of payment schemes and managing multiple currency cut-off for UAE and international locations ranging from early start of Singapore to Europe
• Support the business lines in extending their products by way of reviewing and screening their clients’ transactions with regard to the Sanctions and overall AML/ CTF risks associated.
• Measure the appropriateness and screening capabilities of the product platforms with the Surveillance systems of the Bank.
• Supporting payment screening operations for UAE and all other international geographies where FAB operates
• Collaboration with all geographies serviced by the unit
• Working with different teams within UAE from Trade, Payment product, Global Markets, Digital and others

People Management, Onshore and Offshore teams

• Effectively contribute to define the training and competency framework for the Sanctions Payment Screening Teams Onshore/Offshore.
• Effectively manage and supervise the Sanctions Payment Screening teams by tracking against individual objectives and motivating staff to maximise performance.
• Support the Group Compliance in developing and delivering Sanctions Payment Screening related training.
• Provide guidance and on the job training for colleagues and conduct knowledge sharing sessions locally as well as to International Teams.
• Identify resource requirements to efficiently manage the FLOD Surveillance Teams ensuring the right set of skills and knowledge are maintained within the Team.
• Team development, performance management and consequence management for repeat failures.
• Act as a role model to direct and indirect reports to drive adherence to organisational values and ethics and foster a value driven culture within the bank.

Budgeting and Financial Planning

• Assess the team’s budget requirements and monitor adherence to budget, while ensuring all activities are conducted in line with the approved guidelines.

Policies, Systems, Process & Procedures

• Complete understanding of –
• • UN/UAE-CB, OFAC and other screening requirements
  • Bank’s internal risk appetite
  • Understanding of payment message structure  and SWIFT
• Support the Group Compliance in maintaining and reviewing Sanctions Payment Screening related policies and gap analysis between the current SOP and new policies.
• Provide technical compliance advice to all areas of the business on all regulatory/KYC, Sanctions, AML, Fraud, Military and MSB  matters.
• Develop procedures and processes notes.
• Oversee effectiveness of local Sanctions Payment Screening to support operational controls to define system requirements, parameters, scenarios, logic and underlying models.

Continuous Improvement

• Identify opportunities to tune the screening engine to reduce false positives in the business balancing risk and efficiency.
• Supporting BRD development for changes, creation of CR and UAT testing
• Recommend, initiate and implement, optimisations to screening methodologies and parameters in order to maximize cost efficiency and effectiveness of FAB’s regulatory compliance locally as well as for all jurisdictions where FAB operates.

Reporting

• Working closely with the Technology, Data & Reporting Team on KPI’s and KRIs for reporting to senior stakeholders.

• Ensure information for MI related to Sanctions Payment Screening is delivered to the Technology, Data and Reporting team in a timely manner.
• Manage similar reporting for International Branches and match their reporting requirement and standards.

 Payment Screening

• The job holder should possess and be abreast with complete knowledge of all:-

• Regulatory compliance, Sanctions, Fraud , Military, MSB and AML policies & guidelines relevant to FAB’s international network
• Industry-specific screening methodologies and available technological and infrastructural arrangements to drive the Surveillance program for the bank locally and for the International branches
• Changing and evolving regulations laid down by the CBUAE and International governing bodies.
• Ability to effectively contribute from a FLOD perspective, for future revisions to FAB Compliance policy & guidelines.
• Manage and supervise the team in the performance of:-
• First Level Investigation and clearance of Payments Screening alerts along with recording the rationale for clearance
• Escalate cases not cleared by investigation to respective CIB/PB Risk & Control Alert Management support unit or related unit within the Group Compliance SLOD.
• Record and retain the alerts and cases in line with record keeping requirements of the respective jurisdictions.

Generic

• Support the implementation of Internal Audit, Regulatory Compliance and Group Compliance SLOD recommendations for findings pertaining to Sanctions Payment Screening.
• Responsible for monitoring and supporting timely implementation of Compliance systems projects applicable to domain.

Minimum Qualification

• Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, transaction monitoring/sanctions screening, KYC/AML/CFT, financial crime or risk management

Technical Competencies/ Experience

• Minimum of 5-7 years of experience in a reputed bank
• Minimum of 3 years of experience preferably in an Sanctions Payment Screening role
• Fair knowledge and capabilities to decipher Sanctions and AML/ CTF regulations for Global regimes.
• Excellent communications skills, written and spoken.
• Experience to manage a team of Managers and Analysts with various levels of competencies, experiences and exposure.
• Positive and enthusiastic attitude
• Excellent interpersonal and managerial skills