Senior Officer – Sanctions Monitoring

Senior Officer
-Payments Sanctions Monitoring (Part Time) Job Specific Accountabilities Strategic Contribution

• Support the implementation of the Bank’s Group-wide Compliance strategy within the First Line of Defense to ensure the efficient management of the Sanctions Payment Screening team ensuring vertical alignment and horizontal integration with other interfacing departmental strategies.

• Stay abreast with the control 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 technique's ability in line with the Bank’s defined control testing and monitoring objectives.

• 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.

• Identify opportunities for continuous improvements to Sanctions Payment Screening related systems, processes and practices based on risks and control deficiencies identified.

• Recommend, initiate and implement, optimizations 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.

• 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.

• The job holder should possess and be abreast with complete knowledge of all:
  
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  • Regulatory compliance, Sanctions 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, Executive Office and International governing bodies.

  • Ability to effectively contribute from a FCO perspective, for future revisions to FAB Compliance policy & guidelines.