Job Purpose:
Core purpose of this role is to conduct comprehensive 2nd line review of the high risk KYC referrals and dispositioning of name screening referrals for low and medium risk accounts that cannot be discounted by first line of defense, to provide assurance that key compliance risks are identified and properly assessed and mitigated so that the bank is not exposed to regulatory, financial crime, reputational or other risks.
Review Name Screening referrals and provide 2nd line dispositioning in accordance with the bank policies, standards and guiding references
Extend support to business units by providing innovative but compliant and workable solutions to enable alignment with regulatory requirements and escalate to Compliance Management where material unmitigated risks are identified to intervene where necessary to stop a transaction/process/business proposal.
Support Compliance Management in day-to-day activities, by ensuring handling of assigned cases within the approved timelines while ensuring alignment with Bank’s Compliance policies/standards/procedures and regulatory updates.
Maintain ongoing awareness/knowledge of all regulations set by the Central Bank of the UAE applicable to CIBG business and interpret the same to the relevant stakeholders within the organization during interaction for handled cases.
Support Compliance Management in root cause problem solving to identify innovative solutions to enhance efficiencies of the team and address feedback from internal stakeholders and drive implementation of agreed actions.
Key Result Areas:
Sustainability of productivity without compromise to quality with minimum to nil quality gaps identified through the periodic RCSA reviews or internal/regulatory audits.
Timely contribution to updating all MIS on issues relating to the assigned workload and cases handled by the Division.
Maintain ongoing robust awareness/updated knowledge of all applicable internal/external compliance requirements and existing/emerging legal/ statutory/ regulatory environment – identifying any issues that could impact the bank and proactively discuss it with Compliance Management.
Participate in compliance training programs to all internal stakeholders on an on-going basis as required/necessary to ensure raised awareness and ensure all staff understand their obligations with regards to regulatory and compliance policies/standards.
Consistent identification of material compliance risks associated with assigned referrals where senior management involvement is needed through Risk Acceptance Notes and provide assurance to Compliance Management on the appropriateness of the 1st line assessment and proposed mitigants of such risks.
Assist Compliance Management to ensure Division’s internal procedures remain compliant with regulatory and policy updates where relevant to cascade the updates to internal stakeholders while discussing reviewed cases.
Positive feedback from stakeholders on maintaining proactive relationships with business, facilitating timely involvement to ensure compliant solutions to business issues.
Assist in timely response to queries/enquiries raised by CBUAE, internal audit or other external consultants.
Represent CIBG Compliance effectively in projects/working groups as and when assigned and directed by Compliance Management.
Operating Environment, Framework and Boundaries, Working Relationships:
Operates in complex environments that are characterized by diverse local and international regulations; thus requiring multi-jurisdictional knowledge.
Familiarity with banking law and practices as well as Mashreq policies, procedures and systems.
Proactive working relationships with internal stakeholders from business and operations without compromising on independence and professionalism.
Problem Solving:
Enhanced analytical thinking and educative judgment based on applicable regulations, policies and standards and their bank wide implementation.
Clear understanding of business transactions, initiatives and relationship requirements with close coordination with relationship team without losing focus on risk, regulations and control issues.
Decision Making Authority & Responsibility:
Capable of making independent informed decision on assigned high risk referrals.
Responsible for developing proactive professional engagement with internal stakeholders.
Responsible for administrative and office support linked to assigned MIS
Knowledge, Skills and Experience:
Graduate with 3-5 years of corporate compliance experience in reputable banks
Basic knowledge and understanding of local regulatory rules and legislation, and various international requirements and practices in Corporate and Investment Banking businesses
Computer literate and excellent command over spoken and written English.
Good presentation skills.
Efficient and logical approach to problem solving.
Good decision making ability.
