Executive Manager - Sanctions Advisory

Executive Manager Sanctions 

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About the business area, Group Compliance & Governance.

Compliance is an independent function at ADCB which takes an active approach to risk management and monitoring, ensuring the Bank complies with applicable laws, regulations, rules and market standards. The Group creates, implements and monitors policies and procedures designed to prevent or detect financial crime and any compliance breaches of the Bank, its employees and clients. It also monitors and measures the impact of conduct risk and compliance on the Bank’s risk appetite and profile.

In this role, your key responsibilities include:

• To manage the identification of key sanctions risks and deficiencies, detailing and reporting on major sanctions changes, risks and concerns, reviewing and updating sanctions policies and procedures as per the defined timelines, including ad hoc requirements and or events such as geopolitical or regulatory changes, researching and reporting trends identified in analytical reviews to ensure all sanctions risks and trending issues are found and rectified within agreed timelines
• Maintain the effective management of account opening/Know Your Customer (KYC) escalations related to potential sanctions risks to ensure Bank policies and regulations are adhered to
  Work with applicable business units including vigilance and control teams to ensure appropriate information sourcing and risk identification
  Document decisions for reviewed clients and provide advisory for sanctions risks referred by various business units in order to provide final approvals for all escalated cases
• Maintain knowledge of and investigate potential sanctions risks in order to collect documentary proof and build/maintain case files for major suspicious cases
• Ensure the update of relevant MIS to ensure accurate tracking and record keeping
• Identify and mitigate sanction risks by taking decisions on the applicable high risk sanctions cases, complete the accurate and timely update of all watch-lists to ensure required actions are taken as per the applicable Policy, Standard Operating Procedure (SOP) and regulatory requirement
• Review and report on approved suspicious transaction reports (STRs) to ensure full understanding of current situation
• Action and submit responses to CBUAE on STRs, Partial Name Match Report (PNMR), High-Risk Country Reporting (HRC) and other applicable reports to ensure all responses are followed through to successful completion within the agreed timeline
• Conduct the identification of sanctions risks and gain subsequent approval from the line manager in order to freeze the funds and block accounts
  Respond to and raise Requests For Information (RFIs) from other Banks on sanctions risks in order to identify and mitigate risk
• Identify, freeze and exit customer relationships to ensure compliance with defined Policy, SOP and regulatory requirements
• Adhere to all relevant organisational and departmental policies, processes, standard operating procedures and instructions so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to customers and stakeholders

The ideal candidate should have the following experience:

• At least 8 years of experience in sanctions compliance, exposure to Financial Crime or Anti-Money Laundering (AML) is beneficial
• Bachelor’s Degree in Commerce or Business Administration
• Association of Certified Anti-Money Laundering Specialists (ACAMS), Association of Certified Sanctions Specialists (ACSS)
• Knowledge of international sanctions regimes and compliance implications
  Exposure to multiple jurisdictions that monitor for and enact sanctions regulations
  Excellent understanding of Banking transactions
  Understanding of local/International and CBUAE rules
  Expertise in sanctions risk assessment and mitigation strategies
  Strong analytical skills for transaction evaluation and risk identification

What we offer:

• Competitive Salary: The indicative pay range for this role is AED 40,000 - AED 54,000 per month. Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.
• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development, through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-Learning catalog, on-the-job training and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.