Senior Officer-FCC AML Investigations - Emirati Talent

Commercial Bank International; Sharjah; On-site; AED 120,000 - 180,000; Full time

Job summary

A leading financial institution in Sharjah seeks an AML Transaction Monitoring Officer to enhance their compliance efforts. The role involves monitoring transactions, conducting investigations, and maintaining records of suspicious activities. Qualified candidates will possess strong analytical skills and extensive knowledge of UAE AML regulations, as well as relevant certifications.

Qualifications

• 5 years' experience in banking/financial institutions.
• 3 years’ experience in AML Investigations or similar department.
• In-depth knowledge of UAE AML/CTF regulations expected.

Responsibilities

• Daily monitoring and reviewing of transactions for suspicious activity.
• Preparing Suspicious Transaction Reports for review.
• Maintaining management information systems for alerts and investigations.

Skills

Analytical skills

Investigative skills

Problem solving

Attention to detail

Time management

Team player

Education

Bachelor's degree in accounting or related business degree

CAMS certification

CFCS certification

Job description

Job Purpose:

To undertake post facto AML transaction monitoring in line with CBI Compliance requirements, UAE regulations and international best practice to identify any suspicions. To investigate suspicious transactions and report these as may be required.

Duties and Responsibilities:

1) Monitoring and Reviews

-Daily reviewing of all transactions generated by the AML monitoring system.

-Investigating the alerts pertaining to transactions which are suspicious/unclear/doubtful.

-Generating queries to the RM/Branches to provide the full KYC information and details/justifications/supporting documents of suspicious high value transactions.

-Undertaking regular reviews and analysis of alerts, STRs and MIs to identify any trends / typologies requiring actions to be taken to strengthen the AML monitoring controls and suggesting possible mitigation controls.

-Performing periodic analysis of the customers’ accounts to identify any suspicions and investigate whether there are any suspicions to report.

-Where suspicions are identified and investigated and where reporting is required, preparing a Suspicious Transaction Report, submitting it to unit manager / DMLRO for review before escalating to the MLRO for approval.

-When the STR is revised and final approval is obtained, reporting the same on the CBUAE STR system.

-Ensuring appropriate action and follow up until satisfactory closure to address CBUAE comments/requirements.

-Undertake the required investigations to respond to the Central Bank Enhanced Due Diligence Requests.

-Assisting and guiding any Officers in the department with AML investigations and customer/transactions reviews.

-Providing feedback to any Officers in the department regarding the quality of case work performed while ensuring adherence to internal procedures.

-Undertaking tasks as may be required by the line manager or his/her Seniors.

2) Management Information and Reporting

-Maintaining appropriate MIS (daily, monthly, quarterly, annually) of alerts, investigations and STR.

-Ensuring proper update of relevant MIS and frequent reconciliation as well as necessary follow-ups on pending items.

-Ensuring proper reporting of violations of the relevant AML regulations of the Central Bank.

3) Systems and Technology

-Assisting in reviewing of the available AML / CTF systems and ensuring proper follow up with IT for any identified gaps or on any ongoing projects.

-Advising on enhancements of the existing systems or on introducing new technologies.

Education & Qualifications:

-Bachelor’s degree in accounting or any related business degrees.

-Mandatory Compliance qualification or certification mainly CAMS. CFCS certification or any other relevant AML/ Compliance qualifications from an internationally recognized body is a plus.

Experience:

-Minimum 5 years' experience in a banking / financial institution environment of which 3 years’ experience should have been in AML Investigations or similar department.

Other Skills Required for the Job:

-In depth knowledge of CB UAE and other related AML / CTF regulations

-Analytical, investigative, problem solving and decision-making skills

-Attention to details

-Strong team player

-Good time management skills and adherence to deadlines