Senior Specialist - Compliance

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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:

• Assessing customer risk, identifying potential financial crime risks and providing recommendations regarding client onboarding
• Analyze complex ownership structures involving trusts, foundations, nominee shareholders, and layered corporate entities
• Understanding of virtual assets, blockchain ecosystems, cryptocurrency business models and related regulatory expectations.
• Knowledge of the gaming and gambling regulatory frameworks and associated financial crime risks.
• Perform sanctions, PEP, adverse media and reputational screening
• Conduct risk assessments on reviewed clients, issue advisory/take decisions on new-to-Bank account opening requests and make decisions on the risk assessment (increased, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements
• Determine exit strategy for flagged customers, close accounts, report internally via an iSTR and update MIS to ensure effective closure of accounts and to mitigate anti money laundering, KYC and sanctions risks in the organization
• Set and review outcomes for parameter changes in the client on-boarding systems, develop comprehensive user requirements and test cases, conduct testing for automated solutions, assist in identifying potential weaknesses in processes and systems and manage necessary fixes to ensure system is working effectively
• Support and/or manage projects arising out of changes in regulations in order to ensure remedial actions are completed and fulfil regulatory requirements
• Act as a subject matter expert to employees, providing guidance on what actions to take when dealing with high risk accounts and transactions, contribute to the formulation of internal policies, procedures and training materials to support compliance with 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
• Manage self in line with the Bank’s people management policies, procedures, processes and practices to ensure adherence and to maximise own contribution to business performance
• 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

• At least 4 years of experience in Banking in Compliance, Branch or Operations department
• Bachelor’s Degree in Finance, Accounting, Commerce or Business Administration
• Microsoft Office (Word, Excel and PowerPoint)
• Understanding local and international regulations applicable to KYC and customer onboarding
• Understanding of the FinCrime risks associated to the UAE market

What we offer:

• Competitive Salary between 21,500 AED to 35,000 AED & 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.