Head - AML Investigation and Deputy MLRO

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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 lead the investigation and reporting of suspicious activity and transaction cases referred by internal and external stakeholders, and to act as Deputy Money Laundering Reporting Officer (MLRO) to ensure effective management and escalation of the Bank’s Anti-Money Laundering (AML) processes, in line with regulatory requirements and established policies
• Oversee the daily investigation activities and detection of transactions related to the crimes of money laundering, financing of terrorism and of illegal organisations in order to report suspicions to the Central Bank Financial Intelligence Unit (FIU) and cooperate with the Competent Authorities in relation to Anti-Money Laundering/Combatting the Financing of Terrorism (AML/CFT) duties
• Investigate suspicious cases referred by the AML Monitoring Unit and cases raised by other external/internal stakeholders, reporting on findings and making recommendation for action to ensure escalation of the AML process and support the reporting of such suspicious cases to the CBUAE
• Review presented data/report, taking final decisions on actions to be taken, consulting with the MLRO as needed on suspicious activity reporting to CBUAE to meet regulatory obligations
• Develop and update regulatory and statutory reporting programmes, such as Suspicious Activity Report (SAR), liaising with key stakeholders and third-party service providers to ensure timely and accurate regulatory reporting
• Attend to FIU queries on filed cases and attend to Law Enforcement meetings on filed cases to provide required information on specific investigations
• Leverage data analysis platforms and review analytics/ modelling techniques in order to uncover abnormal financial transactions and complex relationships
• Analyse trends and identify typologies in suspicious activity trends and suggest control enhancement in order to mitigate emerging AML/CFT risks
• Design and deliver training on AML/CFT to Bank and Compliance employees including latest developments/trends to ensure competence levels are maintained
• Provide recommendations for changes to existing policies, processes, systems and procedures to accommodate any regulatory changes relating to AML to ensure it is aligned with international best practices/standards
• Engage with senior stakeholders across business groups, operations, IT and HR on a regular basis to ensure effective functioning of AML department and also Bank’s ability to discharge its regulatory obligations
• Represent the Bank and engage with external stakeholders such as UAE Financial Intelligence Unit (FIU), Central Bank of UAE, Financial Crime Supervision Department, Law Enforcement Agencies etc. on AMLCFT related matters
• Review and approve periodic reports and other Master Information maintained by the department, as required, in order to support the MLRO
• Lead the ongoing review, assessment and enhancement of existing system parameters and thresholds in order to improve effectiveness and efficiency
• Drive continuous review, assessment, and optimisation of system parameters and thresholds to achieve maximum effectiveness and operational efficiency
• Drive the validation of AML models by rigorously evaluating their application and performance, ensuring full compliance with regulatory expectations and international best practices
• Drive the implementation of AI-driven solutions and process enhancements within AML operations, boosting productivity, accuracy, and overall efficiency
• Manage self and team in line with ADCB’s people management policies, procedures, processes and practices to ensure adherence and to maximise own and employee contribution to business performance
• Manage the effective achievement of the team’s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximise overall performance, engagement and motivation
• Contribute to the preparation of the business area’s budget and manage and monitor the financial performance against the budget so that areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalised upon
• Recommend and implement improvements to departmental policies, procedures and processes covering all areas of activity so that all relevant procedural requirements are fulfilled while ensuring that ADCB delivers best-in-class services, products and innovation
• Identify opportunities to contribute to organisational and departmental change initiatives, programmes and projects taking into account best practice and standards in the business environment
• Demonstrate Our Promise and apply the ADCB Service Standards to deliver the Bank’s required levels of service in all internal and external customer interactions

The ideal candidate should have the following experience:

• Minimum 9 years’ experience in banking transactions, compliance, client acceptance, and regulatory anti-money laundering requirements
• Bachelor’s degree in finance, Accounting or relevant specialisation
• AML accredited certification
• Strong understanding of compliance systems and AML transaction monitoring platforms
• knowledge of CBUAE regulations and anti-money laundering legislation
• Analytical skills for identifying suspicious activities and interpreting complex data

What we offer:

• Competitive Salary & 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.