Job Description
Interpret domestic and international sanctions (UAE, US, UK, EU UN etc.) and maintain awareness/knowledge of sanctions that impact the bank and/or its branches or subsidiaries. Update Bank’s Sanctions Policy/ Matrix with evolving sanctions regulations.
Review customer relationship/ business proposal/ Transaction referral by Business/ Operations from sanctions perspective. Conduct EDD on the underlying commercial activity; clear/ decline transaction in line with the regulatory requirement to protect the bank from penal action.
Duties and Responsibilities
Your main responsibilities in this role include the following:
Manage blacklist-screening systems for the bank (multi-jurisdiction); ensure that the lists applicable to each jurisdiction are kept up-to-date at all times and are applied in accordance with the regulatory requirements.
Maintain ongoing awareness/knowledge of all applicable internal/external sanctions requirements and existing/emerging legal/statutory
Environment – identifying any issues that could impact bank.
Provide Head of AML & Sanctions with assurance that all controls required under sanctions regulations are embedded within the processes of the bank to avoid any sanctions breach and/or establishing relationship with a blacklisted party.
Manage vendor relationships for compliance related systems in terms of quality of service, responsiveness, cost etc. Manage Budget and resources to prioritize system enhancement/ up-grades.
Manage lists of sanctioned and blacklisted parties in bank’s payments filter and customer screening system.
Provide Sanctions advice and guidance to the other ECF staff members/ business & operations.
Promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by any of the regulatory authorities and/or international bodies for breach of sanctions Undertake periodic review or self-assessment of key controls to assess the quality and effectiveness. Conduct Compliance Monitoring periodically to ensure there is no lapse of Sanctions requirements/policies.
Report findings and submit recommendations for corrective action, if required.
Manage Regulatory inspections of the Sanctions area.
Act as a focal point to the examiners and facilitate trouble-free examination.
Ensure implementation/regularization of recommendations, if any, within the agreed deadline(s). Keep HO Compliance updated with the progress.
Conduct special investigations and/or respond to the Enhanced
Due Diligence queries raised by law enforcement agencies and other overseas branches/correspondent banks. Provide feedback (accurate information) within the agreed timelines.
Evaluate, train and motivate business/operations staff to enhance their skills and knowledge of evolving Sanctions regulations. Establish and maintain training programs for the unit and for business/ operations in and maintain training programs for the unit and for business/ operations in
Manage the available resources efficiently by creating a well-built and dynamic team.
Job Requirements
Graduate with 5-7 years of banking/AML/Sanctions Systems experience.
Good knowledge and understanding of local AML/CFT rules and legislation, and international best-practices/requirements.
Knowledge and understanding of the International/UN sanctions.
Systems expert with advanced knowledge of MS Excel and Business Object (BO) reports and Mashreq Systems.
Good command over spoken and written English.
Good presentation skills.
Efficient and logical approach to problem solving.
Job Details
Company: Mashreq Bank
Employment Type: Full-time
Job Location: Dubai, United Arab Emirates
