First Abu Dhabi Bank - AVP - Financial Crime Compliance

Job Purpose:

The role is primarily focused on financial crime Compliance, with strong emphasis on KYC, AML, Sanctions, ABC and other related matters. The personnel will also be required to provide support on Banking Regulations Act and other Laws, Rules and Regulations applicable to the Bank. This role is responsible for providing assistance in identifying the relevant legislative, regulatory, and best practices requirements and implementing the necessary systems and internal controls to facilitate adherence to these obligations

KEY ACCOUNTABILITIES:

The AML/CFT responsibilities shall include but not be limited to:

- Assist Head of Compliance in discharging all responsibilities related to all AML/CFT matters within the entity and act as Anti Money Laundering Compliance Officer/Principal Officer for the purpose of interacting and sharing of information with Financial Intelligence Unit-India;

- Ensuring a speedy and appropriate reaction to any matter in which money laundering or terrorist financing is suspected;

- Work with Group Compliance AML Team on the establishment and implementation of anti-money laundering policies, procedures, and controls/systems in the entity and ensure that India has an effective AML and CTF policy in place;

- Manage the due diligence on customers including on-going CDD and ensuring that it is maintained up-to-date;

- Conduct a further investigation into reports of suspected money laundering activities and to provide a recommendation to the entity's senior management on the validity, the timeliness and the need for reporting to relevant authorities, where appropriate;

- Promoting compliance and carrying out ongoing monitoring of business relations and sample reviewing of accounts for compliance with UAE's guidelines on KYC/AML/CFT and all applicable host country KYC/AML/CFT regulations;

- Ensure that India complies with FAB's Sanctions policies and procedures by undertaking to monitor of transactions;

- Raise awareness on money laundering and terrorist financing issues by:

a) Identify and manage compliance trainings for core and high-risk areas to ascertain that all staff are aware of their regulatory obligations with emphasis on AML to educate staff and raise their awareness of their individual obligations in relation to AML and have a working knowledge of how to identify suspicious transactions.

b) Disseminating and bringing to staff's attention useful articles on money laundering and terrorism financing

- Assist Head of Compliance in managing roles & responsibilities of Internal Vigilance.

- Perform other additional tasks as required from time to time as directed by the Group Compliance in the head office.

Role in Regulatory Compliance :

To assist the Head of Compliance India in the following:

- Provide support on regulatory compliance advisory covering Banking Act and other Laws, Rules & Regulations.

- Carry out Compliance Monitoring and Assurance Testing on all business units and infrastructural functions.

- Provide compliance trainings for core and high-risk areas to ascertain that all staff are aware of their regulatory obligations with emphasis on AML to educate staff and raise their awareness of their individual obligations in relation to AML and have a working knowledge of how to identify suspicious transactions.

- Maintain and update the Compliance Compendiums / Registers for India branch and keep abreast of global and local regulatory reform, providing leadership to the bank for regulatory reform management.

- Develop, maintain and update Compliance Policies and Procedures for India branch, taking into consideration changes to Group Policies, local regulatory developments and international best practices.

- Develop, establish and implement, maintain and review the internal Compliance Framework, AML and CFT Framework - consisting of policies, standard operating procedures and best work practices, and self-assurance audits etc., covering both regulated and non-regulated business activities and the bank's business operations, and monitoring oversight to ensure their robustness and effective implementation and compliance by the respective Business Units and Department.

- Provide periodic, regular and accurate reports to the Senior Management, both local India and Head Office on regulatory and compliance matters, AML and CFT matters, which includes the updating of the latest legislations and regulations, raising of significant regulatory matters, concerns or breaches of regulations, etc., and assess and suggest ways to mitigate and manage these risks.

- Handle projects as designated by the Head of Compliance

- Support the India branch's audit remediation efforts and to liaise with Auditors, Inspectors and Consultants.

- Keep abreast of regulatory developments in India and to review changes to regulation, analyze its impact for FAB.

- Provide guidance, advice, and support in relation to all regulatory matters applicable to India and ensure continued technical understanding of the activities and regulations.

- Provide assistance to conduct special investigations or reviews as and when required.

- Perform other additional tasks as required from time to time as directed by the Head of Compliance India.

QUALIFICATIONS & EXPERIENCE:

- Bachelor's Degree or higher in Management, Banking or Finance, preferably with certification in compliance, or AML.

- At least 10 years of business experience preferably with working experience in Bank Compliance.

- Excellent understanding and knowledge of local regulations, laws and international practices

- Strong analytical, interpersonal, communication and facilitation skills with good leadership skills

- Proactive, with the ability to generate ideas, think creatively and develop an innovative solution

- Preferably bilingual, Fluent in English and Hindi with strong written and verbal skills

- Discrete and has a sense for integrity and handles highly sensitive information with absolute confidentiality

- Ability to work independently and in a team