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Dubai Compliance Officer - Compliance Systems

  • Location
    (DUBAI) and various
  • Job Reference
  • Functional Area/Experience
    Business, Accounting & Finance / 2 Years

Job Description & Qualifications

The Compliance unit is responsible for ensuring that the Bank complies with all relevant external laws and regulations applicable in the various jurisdictions that the Bank operates in. Significantly this includes compliance with Sanctions, Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) requirements not only of the countries that the Bank operates in but increasingly there is an expectation of compliance with those of key US and EU regulators:

The Organization Unit achieves this by:

  • Setting out the relevant regulatory requirements and expectations that the Bank must comply with in an Obligations Register which then maps these to the Bank’s policies, procedures and processes
  • Working with the business to monitor and set appropriate policies, procedures and processes to ensure compliance with regulatory requirements, expectations and industry best practices.
  • Providing official written and informal guidance and advice on Compliance matters to the respective businesses as and when required (e.g. on a client, product or transaction basis).
  • Ensuring that appropriate training is given to all relevant staff on the Banks policies and procedures. This includes the provision of training on key policies and procedures such as Sanctions, AML and CTF.
  • Undertaking periodic, risk based, Compliance Monitoring to ensure the Bank’s policies and procedures are being complied with and escalates to management significant non-compliance.
  • Managing key Compliance systems such as Customer Screening, Transaction Screening and AML Monitoring.
  • Managing the case investigation process arising from the key Compliance systems and making the necessary escalations to management and disclosures to the relevant authorities.
  • Responding to all regulatory requests to review and provide relevant information (e.g. customer, transaction, policy, procedure, training, compliance monitoring and process details) or cooperation in a timely manner.
  • Responding to all requests received from LEA and provide the relevant information within timelines.

Job Requirements:

The role will involve in assisting the Head of Compliance around implementation/enhancement of compliance systems, including coordinating with various stakeholders within the EI/Group, vendor management, ensuring that system parameters are in line with the applicable policies and best practices. The incumbent will be required to assist the Head to ensure the optimum functioning of the compliance systems, identify areas for improvement and escalation of concerns to enhance the overall system efficiency across the Bank.

Job Responsibilities:

  • Assist the Unit Head to review the Compliance systems’ performance across the Bank on an ongoing basis including parameters, logics, scenarios, coverage, etc. as appropriate.
  • Identify areas for improvement to the efficiency and effectiveness of Compliance systems.
  • Manage any system changes required by raising the necessary documentation (BCL, BRD, Change requests, etc).
  • Assist with any system integration as part of any new business launch / new jurisdiction or takeover of another entity etc.
  • Maintain an exhaustive log of system related compliance issues.
  • Maintain a schedule with tentative timelines of projects planned for at-least a year ahead.
  • List all requirements objectively and with required details in the BCL.
  • Maintain follow-up with IT to ensure timely delivery of the requirements raised.
  • Effectively perform and ensure successful completion of UAT as and when required.
  • Ensure timely completion of all project related activities agreed as per the “PHR” (Project Highlight report).
  • Manage any system changes required by raising the necessary NPPA / PFD documentation by coordinating with all stakeholders and signed off by all.
  • Provide customer information from Core Banking system as required by Senior Management.
  • Assist line manager and seek guidance on the extraction so reports.
  • In-depth knowledge on Banking System from an IT perspective and System knowledge.
  • Understand which system to use to extract the report
  • Seek guidance from Line Manager and if required, lease with respective business to seek report.
  • Develop reports by using / developing queries in SQL to extract the report.

Person Specification:

  • Bachelor’s Degree
  • Any recognized Compliance certification
  • Around 2-3 years Compliance experience in bank or any other financial services.

Job Skills/Competencies Required

  • Strong knowledge of latest reporting and dashboard solutions
  • Strong knowledge of data analysis, presentation and reporting
  • Basic knowledge of Banking products and operations.
  • Basic knowledge of compliance systems
  • Understanding of compliance, products and processes.
  • Strong in Business intelligence tools such as Cognos, Power BI and MS BI
  • Strong knowledge of Microsoft excel along with macros
  • Good knowledge of SAS Enterprise Guide
  • Advanced Power Point skills
  • Data mining and analytical skills
  • Understanding of banking products and processes.
  • Understanding of data mapping and lineage.
  • Strong knowledge of SQL

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