Compliance Officer - Sanctions

RAK BANK; United Arab Emirates; On-site; AED 120,000 - 180,000; Full time

Job summary

A leading bank in the UAE seeks a Compliance Officer responsible for monitoring transactions and ensuring adherence to AML and sanctions laws. Key duties include conducting investigations, guiding business units on compliance, and reporting suspicious activities. The ideal candidate will have a university degree, compliance certifications, and proven experience in banking compliance. Join us to safeguard the bank’s reputation and ensure financial stability within a dynamic regulatory environment.

Qualifications

• Proven experience in sanctions and AML investigations within banking or financial services.
• Strong understanding of local and international regulatory frameworks.

Responsibilities

• Monitor transactions and investigate potential breaches of sanctions and AML laws.
• Conduct thorough investigations in line with Sanctions and AML Operating Procedures.
• Provide guidance to business units ensuring compliance standards.

Skills

Legal Expertise

Risk Assessment & Mitigation

Investigative Skills

Cross-Functional Collaboration

Time Management

Education

University Degree or equivalent

Mandatory compliance certifications (e.g., ACAMS)

Job description

About the role

The Compliance Officer is responsible for monitoring transactions and investigating potential breaches of sanctions and AML laws, ensuring adherence to local and international regulations. This role safeguards the bank’s reputation and financial stability through rigorous due diligence, risk identification, and timely reporting of suspicious activities. You will report to Associate Vice President – Sanctions.

What You’ll Be Doing

• Monitor transactions and investigate potential breaches of sanctions and AML laws.
• Assess sanctions/AML alerts for possible violations, gathering necessary information from business units to validate risks.
• Conduct thorough investigations in line with Sanctions and AML Operating Procedures, considering risks related to sanctions circumvention, AML, dual‑use goods, and proliferation financing.
• Provide guidance to business units, ensuring minimal customer friction while maintaining compliance standards.
• Escalate risk triggers promptly and ensure timely reporting of suspicious activities (STR, SAR, PNMR, CNMR, HRC/HRCA) via GoAML.
• Perform enhanced due diligence where required and safeguard correspondent banking relationships.
• Stay updated on global regulatory developments through active participation in training sessions.

What We’re Looking For

• Education: University Degree or equivalent.
• Mandatory compliance certifications (e.g., ACAMS).
• Experience: Proven experience in sanctions and AML investigations within banking or financial services.
• Strong understanding of local and international regulatory frameworks.
• Industry: Financial services, banking compliance, and risk management.

Skills

• Legal Expertise: In‑depth knowledge of international sanctions and AML laws.
• Risk Assessment & Mitigation: Strong analytical and critical thinking skills.
• Investigative Skills: Ability to identify red flags and conduct detailed investigations.Strategic Thinking: Adaptable to evolving regulatory landscapes.
• Cross‑Functional Collaboration: Excellent communication and stakeholder management.
• Time Management: Self‑motivated, organized, and effective in team environments.