Our client, a well-reputed and well-renowned international banking institution, is recruiting for VP - Compliance Officer. You will be based in Dubai and will need to spend a day per week in Abu Dhabi. You will report to the Head of Regional Compliance and Control in Bahrain and hierarchically to the Head of Territory in the UAE.
Responsibilities include but not limited to:
External Regulators / Authorities:
• Handle all SAMA correspondences - receive, translate, circulate & follow up on action taken for incoming, and co-ordinate, send & follow-up on replies or outgoing mail.
• Maintain a log of all communications with SAMA & update the ratios, reports, penalties and regulation logs/records whenever applicable. Update & maintain a list of all controlled positions and their registration status. Coordinate with SAMA during the periodic inspections and reply to requests and queries (verbal or written).
• Follow-up thereafter with respective teams/departments internally to ensure recommendations are adapted.
• Receive, translate and circulate all Saudi Arabia’s Banking Association correspondence & advise action or reply if necessary.
• Coordinate with external auditors for their requests during semi-annual Internal Control Review Audit mission.
• Refresh, screen and upload on a daily basis AML reports to SAMA ( large cash and foreign currency transactions)
Policies and Procedures:
• Implement and monitor procedures involving compliance, including telephone recording, KYC for new & review, sensitive & embargoed countries, cash deposits, etc.
• Circulate new instructions (policies & procedures) and provide training/clarifications whenever necessary
• Complete the assigned work in the given time without any delay
Clients’ Acceptance, Monitoring & Reporting:
• Review of full KYC where all names are screened and the account is discussed through a CAC (escalated to Regional Compliance in case of sensitive clients) prior to opening a new account and accepting the client. Monitor client’s file continuously, detect unusual/unexpected behaviour, and obtain proper justification or a rationale.
• Check on availability & validity of all legal documents during the periodic reviews of KYC to ensure completeness and validity and that KYC is duly updated.
Validation of new Products and Business Activities:
• Participate along with regional team in the validation of new deals/products on a case by case basis & for information purposes only
Complaints:
• Review all complaint forms prior to it completing the circuit. Approval of any outgoing letters/replies/apologies to the client and be informed of the impact -if any (financially, reputationwise, regulatory, etc.) on the bank.
• Monitor regularly the complaints log to ensure compliance to procedure and check on follow-up to resolve the case.
• Encourage/remind all staff continuously to log all complaints regardless of the manner of reporting or seriousness of the case to improve efficiency and detect any problem glitch.
Testing Adherence to Compliance Requirements:
• Validation of transactions involving sanctioned, embargoes countries/individuals/entities.
• Investigate Local LCs and other non-standard transaction (does not adhere to norms of the client’s behavior or the policies/norms of the bank) to obtain clear justification/rationale.
Ethics:
• Provide advice/reminders and wherever possible monitor adherence to various issues related to ethics including conflicts of interest, adherence to the Group’s code of conduct, gift policy, personal dealings, confidentiality, etc.
Training Conduct:
• One to one training for all newcomers within the first few weeks of joining ensuring their complete understanding of rights, obligations and obtain their signature on receipt of compliance manual as well as employee handbook.
Job Details
| Date Posted: | 2013-10-27 |
| Job Location: | United Arab Emirates |
| Job Role: | Administration |
| Company Industry: | Banking; Administration |
Preferred Candidate
| Career Level: | Mid Career |
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Date Posted: October 27, 2013 at 06:33AM
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Emirati VP - Compliance Officer - Manpower Middle East
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