AVP- KYC Review & Approval-Corporate (Emiratized Role)

Join the UAE’s largest bank and one of the world’s largest and safest financial institutions. Our focus is to create value for our employees, customers, shareholders and communities to grow through differentiation, agility and innovation. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting & dynamic industry.

JOB PURPOSE

In accordance with UAE and international Anti-Money Laundering Requirements, banks such as FAB are obliged to perform Know-Your-Client ('KYC') reviews on all new clients they adopt and periodic reviews of these clients.

To lead and manage the KYC & Onboarding function, ensure it is fit for purpose and meets international best practice standards. The centralised team will perform the client On-boarding “approval” role. This can be either new on-boarding, trigger events or periodic reviews. It will ensure the documentary evidence meets internal guidelines and regulatory expectations. Additionally, adherence to Group KYC standards need to be enforced.

KEY ACCOUNTABILITIES:

Corporateand Investment banking group

A team leader for the centralised client On-boarding “approval” team which will conduct the following activities:

• To review and approve KYC Customer Due Diligence (CDD). This can be either new on-boarding, trigger events or periodic reviews. This role is focused on Corporate & IB
• Main stakeholders are Clients, Coverage Bankers ( Region / Global ) , KYC Operations Team, Compliance, Offshore Support Team.
• Experience in risk management field and proven experience in supporting the development of business activities whilst robustly applying risk management disciplines and controls.
• Previous experience of developing relationships by communicating, influencing and negotiating effectively with business heads, senior managers, consultants and technical experts across the whole department and businesses.
• Be aware of the strategic clients and their longer-term requirements by engaging with the Coverage Bankers when they undertake the Business Case and client selection process.
• Ensure adherence to all internal policies / procedures and external regulatory requirements at all times.
• Previous experience on handing post facto transaction review for all correspondent banking clients and knowledge of key principals like Nesting & Downstream activities will be an added advantage.
• Perform post facto transaction analysis for correspondent banks on annual basis, and flag any Nested payments to Compliance & Coverage Bankers
• On need basis support AVP, Coverage Bankers, Business Compliance to conduct EDD Meetings with Correspondent Banks where applicable.
• Perform independent analysis of high-risk factors and as an outcome of key risk indicators escalate the relevant case to Financial Crime Compliance teams (FCC).
• Efficiency- Adherence to the escalation and abandonment policy.
• Prioritization – maintain the discipline in partnership with the local business. Communicate consistency to internal and external stakeholders to ensure that the cases are accepted through the approved channels and expectations are managed appropriately.
• Review questionnaires such as Wolfsberg, AML & Sanctions appropriately   
• Along with managing approval process for CDD delivery; also support and participate in various change management & digital initiatives also involve in providing, Advisory, drafting SOP’s , Checklist , internal MEMO’s etc.

Relationship Management

• Develop and manage relationships with Corporate & Investment Banking stakeholders across business lines and supporting functions.
• Undertake strong support and communication with both internal & external clients to facilitate efficient client on boarding & off boarding
• Deliver fair outcomes of our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.

People Management

• Manage the KYC & Onboarding team by tracking against objectives and motivating staff to maximise performance
• Support the Department in delivering KYC and On boarding related training.
• Provide guidance and on the job training for staff and conduct knowledge sharing sessions.
• 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 bank.

Continuous Improvement

• Identify opportunities for continuous improvements to CIB On boarding, KYC related systems, processes and practices based on risks and control deficiencies identified.

Reporting

• Ensure information for MI related to Investment Banking segment, for On-boarding & KYC is prepared and presented on a periodic basis.
• Ensure exceptions are updated in CDD Exception tracker and tracked to resolution. Tracker to be circulated to relevant stake holders on monthly basis.
• Monitor monthly KYC KRI /KPI reports
• Interact with other stakeholders and help the KYC teams achieve KIR’s / KPI’s.

Minimum Qualification

• Bachelor’s degree or higher in management, banking, finance, preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management

Minimum Experience

• Minimum of 7-10 years of experience in a reputable financial institution.
• Minimum of 3-5 years of experience within an On-boarding and KYC role
• Relevant experience (AML/KYC/compliance related) with understanding of financial institutions KYC requirements.
• Understanding of the end to end KYC and client on-boarding processes.
• Familiarity with AML/KYC regulations and industry guidelines (e.g. UAE Regulations, FATF, JMLSG, 3rd, 35th & 5th EU Money Laundering Directive, US PATRIOT Act.