Manager- KYC Review & Approval - Commercial Banking (Emiratised Role)

Company Description

Now it’s your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We’re looking for the brightest and best to help us reach our goals and we’ll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.

Job Description

JOB PURPOSE:

In accordance with the UAE and international Anti-Money Laundering / Counter Terrorist Financing and Sanctions related laws and regulations, financial institutions such as FAB are obliged to perform Know-Your-Customer ('KYC') reviews on all new to bank clients as well as existing clients through periodic and trigger-based reviews.

The core responsibilities of Manager, KYC Review & Approval is to perform duties as required in the relevant bank policies and departmental SOPs covering KYC Review & Approval process for Commercial Banking. The candidate will perform independent reviews of KYC files at the time of client on-boarding and KYC refresh as an “Approver” role. The candidate will ensure that the KYC files are complete in terms of required KYC information / documentation in accordance with bank’s policies / procedures and local regulatory expectations of the UAE Central Bank.

Additionally, candidate will ensure that AML / CTF / Sanctions risks associated with the clients are appropriately assessed and mitigated before a decision is taken to onboard or retain bank clients and the Group KYC standards are adhered and enforced.

KEY ACCOUNTABILITIES:

Manager, KYC Review & Approval - Commercial Banking

Working for the Risk & Control (Group Operations) which will conduct the following activities:

Main Objectives:

• Act as a support to Team Leader (AVP) to local KYC Review & Approval team, working both as an individual contributor and guiding team along with offshore locations on day-to-day activities.
• Accountable for the end-to-end KYC approval process, from the moment KYC is submitted to the approval team through reviewing the file from completeness as well as risk assessment perspective.
• Provide Advisory on KYC process, policy requirements, screening, risk rating and risk matters, managing relevant stakeholders.

Key Role:

• Manage approval process for New to Bank Client Onboarding Process along with Periodic & Trigger Reviews in liaison with all stakeholders.
• Ensure compliance with UAE Central Bank regulations and bank policies/procedures related to CDD, AML/CTF, PEP & Sanctions.
• Ensure CDD information/documentation is complete in line with bank policies/procedures & local regulatory requirements.
• Identify, assess, and appropriately mitigate ML/TF, PEP, adverse media & sanctions risks associated with the client during CDD reviews.
• Escalate risks identified during CDD reviews to the relevant stakeholders in FCC/Compliance and Business, where necessary.
• Provide advisory on bank policies/procedures, regulatory requirements, CDD Process and FCC risks.
• Draft and implement CDD SOPs, CDD Checklist, Process Guidance Notes, CDD form, PEP form and Sanctions Exposure Questionnaire (SEQ).
• Support R&C in deployment & enhancement of CDD and other systems for automation.
• Review CDD Risk Rating Methodology in coordination with FCC.
• Experience in risk management field and proven experience in supporting the development of business activities whilst applying risk management disciplines and controls.
• Develop relationships by communicating, influencing, and negotiating effectively with business heads, senior managers, and technical experts.
• Ensure adherence to all internal policies/procedures and external regulatory requirements at all times.
• Review questionnaires such as Wolfsberg, AML & Sanctions appropriately.
• Support AVP, Commercial Bankers, and Business Compliance in meetings to discuss process-related challenges.
• Perform independent analysis of high-risk factors and escalate relevant cases to FCC and Compliance teams.
• Maintain discipline in partnership with local business and communicate consistency to stakeholders.
• Participate in various change management & digital initiatives.

Relationship Management

• Develop and manage positive working relationships with all stakeholders across business lines and supporting functions.
• Support line manager, team members, and other teams within Risk & Controls through providing timely assistance and solutions.
• Resolve conflicts and provide effective solutions to stakeholders.
• Efficient coordination with key stakeholders to get the job done in a timely manner.

MI Reporting

• Ensure all departmental MIs for senior management reporting are timely maintained.
• Update KYC deferrals in the relevant tracker and track to resolution.
• Prepare presentations and dashboards on an ad-hoc basis.
• Interact with other stakeholders and help the KYC teams achieve KIR’s/KPI’s.

Qualifications

Minimum Qualification

• Bachelor’s degree or higher in management, audit, accounting, economics, banking, or finance.
• Preferably with certification in Compliance, KYC/AML/CFT, Sanctions, Financial Crime Risk Management (will be added advantage).

Minimum Experience

• Minimum of 3 years of experience in a reputable bank preferably within KYC/CDD, EDD, AML or FCC/Compliance functions.
• Relevant experience with understanding of the Commercial Banking KYC requirements and industry best practices.
• Familiarity with AML/KYC related laws, regulations, and industry guidelines.
• Efficient work management and stakeholder management skills.
• Experienced with operating in a global regulatory environment.
• Strong Microsoft applications knowledge.
• Pro-active and business oriented with proven ability to prioritize, manage conflicting demands and assess risks.