Senior Analyst, AML - Compliance

United Arab Bank
Sharjah
AED 50,000 - 200,000
Job description

Job Purpose:

The Senior Analyst – Anti-Money Laundering (AML) will manage AML/CFT Unit activities under the direct supervision of the DMLRO for effective administration of the Bank’s AML/CFT activities through available systems/tools, in line with the guidelines/parameters set by the regulatory agencies, applicable laws and relevant policy and procedures to protect the bank from the threats related to Anti Money laundering (AML)/Counter Terrorist Financing (CTF), Sanctions and Proliferation of weapons of Mass Destruction.

Principal Accountabilities:

  • Review/analyze Alerts/Cases with active investigation of customer profile, detection scenario logic, and related transactions that have breached the Detection Scenario logic and take prompt/appropriate actions.
  • Identify and highlight suspicious transactions to the DMLRO with complete investigations/documentation for necessary action.
  • Maintain a strong understanding of relevant regulatory requirements and industry best practices.
  • Ensure adherence to the Central Bank regulations, the Federal Law, and best practices relating to AML/CTF, building and operating necessary systems, policies, and procedures.
  • Execute any regulatory (CBUAE) driven requests: EDD, Search & Freeze notices, LEA requirements promptly.
  • Update Internal Watch list/Blacklists in a timely manner.
  • Conduct complete investigations on all alerts in line with related Policy/Procedures and Regulations/Guidelines.
  • Regularly review AML/CFT applications/systems for enhancements and optimize scenario parameters, conditions, etc., coordinating with relevant stakeholders for automating related processes.
  • Handle end-to-end AML/CFT investigations for certain cases in close coordination with the DMLRO.
  • Draft STR/SARs and ensure timely filing as per regulatory requirements with complete documentation while maintaining confidentiality.
  • Conduct periodic reviews of internally monitored customers to ensure there are no AML/CFT concerns.
  • Maintain effective coordination with Business Units to ensure that all inquiries/investigations received are handled properly and responded to in a timely manner.
  • Update various AML/CFT related MISs including but not limited to alerts, STR/SARs, IEMS, etc.
  • Conduct AML/CFT related UATs with proper test cases, POC/POVs, implementations, enhancements, and AML/CFT related AI/ML tools with detailed feedback in close coordination with the DMLRO and Head of FCC/MLRO.
  • Respond promptly to all queries related to AML/CFT and related issues raised by branches and departments.
  • Stay updated with local and Global AML/CFT related updates and prepare advisories for business stakeholders.
  • Conduct end-to-end Thematic reviews related to AML/CFT.
  • Stay updated with AML/CFT regulatory requirements and International standards, ensuring that all related Policy/Procedures, systems, and processes align with those requirements.
  • Handle any other project/task assigned by the DMLRO, Head of FCC/MLRO, and Chief Compliance Officer.
  • Ensure complete adherence to the bank's policies and procedures.
  • Maintain the highest standards of confidentiality, professional conduct, ethical standards, and integrity in the provision of services/activities and interactions in the department. Avoid conflicts of interest and act in the best interests of the organization.

Job Requirements:

  • Bachelor's Degree from an internationally recognized educational institute.
  • ACAMS certification or equivalent.
  • Minimum five years of professional experience in AML, particularly transaction monitoring.
  • Knowledge and hands-on experience of IT/system upgrades, enhancements, and conducting UATs related to Transaction Monitoring systems.
  • Effective communication skills in English; Arabic is preferable.
  • Knowledge of UAE and International AML/CTF/Sanctions requirements.
  • Knowledge of AML/CFT/PFWMD and EDD processes, AML/CFT tools, systems, and applications.
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