Job Description

• To safeguard the bank from financial penalties/regulatory actions linked with non-adherence to Financial Crime Controls (FCC) laws and regulations.
• Provide FCRA Manager/AML Projects with assurance that all processes/ controls required to comply with AML/CFT regulations are embedded in the bank processes/procedures.
• Assist with execution of an effective FCRA program (preferably through an automated system) across the Bank to mitigate the risk of Money Laundering and Terrorist Financing, Proliferation Financing and ABC.
• Assist in facilitating external regulatory examinations, internal audits and coordinate with business to ensure timely closure of any audit findings / action items resulting from Regulatory/ internal/ external audit.
• Monitor emerging money laundering trends and provide recommendations in line with the bank’s risk-based AML policy, KYC Guidance and risk appetite framework.
• Conduct investigations as necessary/appropriate or as directed/required by Regulators, AML/CFT, Sanctions and HO-Compliance units.
• Pro-actively recommend improvements to the framework / structure / workings of Compliance in line with business needs/plans and HO Compliance guidelines.
• Assist HO Compliance in formulating bank wide policies, especially AML policy, Semi-Annual MLRO Report, KYC Guidance on various high-risk jurisdictions and conflict zones, personal investment policy etc.
• Facilitate Compliance Regulatory projects and provide oversight on implementation of those initiatives across Mashreq locations.
• Develop excellent professional rapport/ relationship with all relevant Regulatory Authorities, ensuring full cooperation, timely/satisfactory resolution of any queries from them and timely delivery of all necessary Regulatory reporting where required.
• Share regular updates, communications and developments from a Regulatory aspect that are deemed to be of interest and importance for the business. This will assist in the development of compliance awareness and understanding. Where appropriate a summary of the business impact, if any, and the required actions being taken should also be explained.
• Proactively liaise/coordinate/assist other Embedded Compliance Functions (ECF) as appropriate/ necessary for timely/ satisfactory closure of cross-group/ pan-bank issues as directed/ in liaison with HO Compliance.
• Develop and be responsible for the record keeping.
• Plan, Manage and meet the budget expectations.