Head of AML & MLRO

Description

Role : Head of AML & MLRO

Location : Abu Dhabi

Role Purpose:

The Head ofAML/CTF and MLROis responsible for the development and implementation of the Group-wide(including branches subsidiaries and ADIB Sudan Iraq and Qatarcomplianceprogram relating to AML/CTF laws and regulations. The role entails overseeing the Group Compliance AML/CTF policies & procedures periodic review of the AML/CTF program owning AML transaction monitoring systems and ensuring breach of applicable AML/CTF compliances are escalated to the Head of FCC on a timely basis. The role also entails the identification investigation and reporting of STRs the UAE FIU as required by the relevant AML laws and subsequent cabinet resolutions.

Key Accountabilities of the role

Strategic Contribution

• Ensure effective implementation of the Groups Compliance strategy within the AML teams remit in GCD and COC to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

People Management

• Manage and lead the AML team by setting individual objectives managing performance developing and motivating staff to maximise performance.
• Support the Compliance Governance & Assurance team in acting as an SME on developing and delivering AML related training.
• Provide guidance and on the job training for junior colleagues and conduct knowledge sharing sessions for GCD and COC teams.
• Act as a role model to direct and indirect reports to drive adherence to organisational values and ethics and foster a value-driven culture within the Group.

Budgeting and Financial Planning

• Provide necessary input and recommend the AML teams budget to Head of FCC and monitor adherence to budget while ensuring all sectional activities are conducted in line with the approved guidelines.

Policies and Processes

• Ensure Group AML/CTF policies and procedures remain updated relevant and communicated to all stakeholders.
• Oversee the Groups compliance with AML/CTF policies procedures and processes.
• Identify opportunities for continuous improvements to AML related systems processes and practices based on risks and control deficiencies identified.
  

AML/CTF Oversight and Advisory

• Oversee the implementation of the AML/CTF program within the Group (including branches subsidiaries and international locations) to address current AML/CTF risks and remain sufficiently agile to manage anticipated future AML/CTF risks.
• Keep abreast of related laws regulations and best practices pertaining to AML/CTF and assess its impact on ADIBGroup. For International branches and subsidiaries work with Head of IBG Compliance and local MLROs to keep the AML/CTF program updated in line with the local laws and regulations..
• Ensure to have effective oversight on COC functions for AML in respect of;
  • Team performance and productivity.
  • Review QA results and take necessary actions to remediate failed cases including identifying root causes.
  • Review MIS reports and attend governance calls and take remdial actions on any identified issues.
• Develop and strengthen relationships to promote best practices and ensure a good understanding of AML requirements across the Group.
• Ensure that all AML/CTF risks are appropriately identified through risk assessments (FCRA and RCSA) performed across Business units and the Compliance function.
• Ensure that violations of AML/CTF policies and procedures are appropriately identified and escalated.
• Oversee the management of alerts generated by transaction monitoring systems and approve/reject escalated instances.
• Detect transactions relating to any crime as defined by applicable laws and regulations
• Review scrutinize and study records; receive data concerning suspicious transactions; and make decisions to either notify the FIU or maintain the transaction with a documented rationale for maintaining the transaction while upholding confidentiality requirements.
• Collaborate with the supervisory authority and FIU provide them with all requested data and allow their authorized employees to view the necessary records and documents that will allow them to perform their duties.
• Act as the primary point of contact with law enforcement Authorities for their requests and investigations.
• Liaise with regulators and external bodies on financial crime issues in order to share knowledge report cases develop best practices and where possible to improve coordination within the financial sector.
• Support the Head of FCC in actively building relationships and engaging AML regulators with jurisdictions over ADIB.
• Provide advisory services on escalated issues related to AML/CTF to other Compliance functions and Business units across the ADIB Group.
• Monitor account closures following the decision to exit for AML/CTF reasons.
• Act as an AML/CTF SME for the new product review process.
• Ensure responding to Correspondent Banks queries on a timely basis.
• Provide advisory and inputs on CBUAE queries related to previously filed STRs.
• Ensure requests from the CBUAE to search/freeze/ close accounts are executed promptly.
• Act as an SME on the periodic review and testing of the customer risk assessment model and rating methodology.
• Own AML transaction monitoring systems and oversee its effectiveness to support operational controls including acting as an SME to define system requirements parameters scenarios logic and underlying models groupwide
• Co-ordinate with the FCC Technology team to ensure AML/CTF related monitoring remains up-to-date and meet regulatory requirements.
• Support in carrying out UATs for new/updated AML/CTF systems functionalities and upgrades.
• Act as an SME on the periodic review and testing of AML/CTF systems.
• Act as SME providing AML/CTF support and advisory groupwide
• Perform periodic
• Ensure timely remediation of gaps identified in RCSA internal/external audits regulators supervisory audits related to AML/CTF.
• Lead/participate in AML/CTF related projects as per the project guidelines set by the Compliance Governance and Assurance team.

Reporting

• Ensure that the Head of FCC Global Head of Compliance and the Groups Senior Management are well informed of critical AML/CTF compliance plans initiatives escalations and issues.
• Prepare MLRO report as required by CBUAE regulation.
  

Specialist Skills / Technical Knowledge Required for this role:

Skills and experiences required

• Bachelors Degree in Science Finance Business or a related subject. ACAMS certification or equivalent preferred.
• Approximately 10 years of FCC experience focusing on AML/CTF gained at a top tier international bank Financial Regulator FIU Law Enforcement Authority or the Public Prosecution which includes 5 years of experience AML/CFT teams and complex case Such as those related to OCGs TBML Complex ownership structures.
• Experience in advising or working in a Compliance function with a focus on delivering a robust AML/CTF compliance program.
• Strong track record in dealing and managing regulators and other stakeholders.
• Strong interpersonal skills with the ability to communicate with impact build healthy professional connections influence outcomes simplify complex topics into actionable recommendations for decision-making.
• Exceptional knowledge of all aspects of AML/CTF and the relevant regulatory requirements.
• Ability to perform innovative thinking to solve complex problems with no established precedence while balancing risk speed and accuracy.
  

Required Experience:

Director

Key Skills
Marketing & Promotions,Attorney At Law,Jni,Airlines,Art
Employment Type : Full Time
Experience: years
Vacancy: 1