Payments Sanctions Monitoring - Specialist

ATRIBS; United Arab Emirates; On-site; AED 120,000 - 150,000; Full time

Job summary

A leading company in the UAE is seeking a Payments Sanctions Monitoring Specialist to support the implementation of compliance strategies and enhance payment screening systems. The role involves investigating alerts, ensuring regulatory compliance, and collaborating with various teams to optimize processes.

Qualifications

• Comprehensive knowledge of regulatory compliance and AML policies.
• Experience in screening methodologies and technological arrangements.

Responsibilities

• First and Second Level investigation and clearance of alerts.
• Conduct enhanced due diligence investigations.
• Maintain records in line with jurisdictional requirements.

Skills

Regulatory compliance

Sanctions

AML policies

Surveillance programs

Job description

Payments Sanctions Monitoring - Specialist ATRIBS

Strategic Contribution - Support the implementation of the Bank's Group-wide Compliance strategy within the First Line of Defence to ensure the efficient management of the Sanctions Payment Screening team, ensuring vertical alignment and horizontal integration with other interfacing departmental strategies. Stay abreast of the control environment, control appropriateness and effectiveness, and control testing tools and techniques available within the Bank. Work closely with the Second Line in Group Compliance to identify and define requirements, gaps, and strategies to manage the Bank's Risk Appetite. Demonstrate a good understanding of monitoring and control testing tools and techniques aligned with the Bank's control testing and monitoring objectives.

Support the business lines in extending their products by reviewing and screening client transactions concerning Sanctions and overall AML/CTF risks. Measure the appropriateness and screening capabilities of product platforms against the Bank's Surveillance systems.

Continuous Improvement - Identify opportunities for enhancing Sanctions Payment Screening systems, processes, and practices based on risks and control deficiencies. Recommend, initiate, and implement optimizations to screening methodologies and parameters to maximize cost efficiency and effectiveness across FAB's regulatory compliance locally and in all jurisdictions where FAB operates.

Reporting - Collaborate with Technology, Data & Reporting teams on KPIs and KRIs for reporting to senior stakeholders. Ensure timely delivery of MI related to Sanctions Payment Screening. Manage similar reporting requirements for International Branches, aligning with their standards.

Payment Screening - Possess comprehensive knowledge of:

• Regulatory compliance, Sanctions, and AML policies & guidelines relevant to FAB's international network
• Industry-specific screening methodologies and technological arrangements for Surveillance programs locally and internationally
• Changing regulations by CBUAE, Executive Office, and international bodies

Contribute effectively from a FLOD perspective for future revisions to FAB's Compliance policies & guidelines.

Payment Screening Specialist Responsibilities include:

• First and Second Level investigation and clearance of alerts, recording rationale for client transactions across UAE and international geographies
• Escalate unresolved cases to CIB/PB Risk & Control Alert Management or related units within Group Compliance SLOD
• Gather information from internal and external databases following global standards
• Conduct enhanced due diligence investigations
• Perform searches, data gathering, and evidence recording from internal systems, the internet, and business inquiries
• Maintain records in line with jurisdictional requirements
• Build knowledge of sanctions and AML processes
• Request RFI for potential matches and investigate documents per Group Sanctions Policy

Company Industry: IT - Software Services

Department / Functional Area: Administration

Keywords: Payments Sanctions Monitoring - Specialist

Disclaimer: Naukrigulf.com is a platform connecting jobseekers and employers. Applicants should verify the legitimacy of employers independently. We do not endorse money transfer requests or sharing personal/bank details. For security concerns, contact [e-mail].