JOB SUMMARY / INTRODUCTION:
To perform duties as required in the relevant bank policies and departmental SOPs covering KYC Review & Approval process. The candidate will lead the team which performs independent reviews of KYC files for client on-boarding and KYC refresh and trigger based events. The candidate will ensure that the KYC files are complete within the agreed SLA’s in terms of required KYC information / documentation in accordance with bank’s policies / procedures and local regulatory expectations of the UAE Central Bank.
To ensure that AML / CTF / Sanctions risks associated with the clients are appropriately identified, assessed and mitigated before a decision is taken to onboard or retain bank clients and the Group CDD standards are adhered and enforced.
Main Objectives: VP will act as a team lead and will support the Head of KYC Onboarding, working both as an individual contributor and guiding team along with offshore locations on day-to-day activities. VP’s objective is to be accountable for the end-to-end KYC approval process, from the moment KYC is submitted till the time the file is approved. VP’s responsibilities also include providing Advisory on KYC process, policy requirements, screening, risk rating and risk matters, managing relevant stakeholders etc. Aligned to Banking Coverage teams he/she will work closely with products teams and other onboarding functions including KYC & Onboarding team, Business (RMs) and FCC/Compliance to deliver the service required.
KEY RESPONSIBILITIES:
- Manage process for New to Bank Client Onboarding Process along with Periodic & Trigger Reviews in liaison with all stake holders. Ensure all clients are onboarded within the onboarding timelines agreed.
- Ensure compliance with UAE Central Bank regulations and bank policies/ procedures related to CDD, AML/CTF, PEP & Sanctions.
- Ensure CDD information/documentation is complete in line with bank policies / procedures & local regulatory requirements.
- Ensure ML/TF, PEP, adverse media & sanctions risks associated with the client are identified, assessed, and appropriately mitigated during CDD reviews.
- Escalation of risks identified during CDD reviews to the relevant stakeholders in FCC / Compliance and Business, where necessary.
- Provide necessary advisory on bank policies / procedures, regulatory requirements, CDD Process and FCC risks such as PEP, adverse media, sanctions.
- Annual review of bank policies related to CDD, AML/CFT, PEP and Sanctions.
- Draft and implement CDD SOPs, CDD Checklist, and Process Guidance Notes, CDD form, PEP form and Sanctions Exposure Questionnaire (SEQ) in line with the up to dated guidelines.
- Support in deployment & enhancement of CDD processes and other systems for the sake of automation.
- Experience in risk management field and proven experience in supporting the development of business activities whilst robustly applying risk management disciplines and controls.
- Ensure adherence to all internal policies / procedures and external regulatory requirements at all times.
- Support Head of KYC Onboarding – Risk & Controls to conduct meetings and discuss process related challenges and sticky issues, where applicable.
- Perform independent analysis/ approve cases up to high-risk as per DOA and review, approve and forward very high-risk cases to FCC and Compliance teams.
- Prioritization – maintain the discipline in partnership with the local business. Communicate consistency to internal and external stakeholders to ensure that the KYC cases are accepted through the approved channels and expectations are managed appropriately.
- Along with managing KYC approval process for CDD delivery; also support and participate in various change management & digital initiatives.
- Liaise with key stakeholders including Business/RMs, Business Management, FCC/Compliance and Business Compliance for the improvement of KYC processes and smooth completion of KYC reviews at client onboarding and ongoing periodic/trigger reviews.
- Conduct training sessions on bank’s KYC Policies/Procedures and Processes for the KYC teams and frontline staff (Business RMs).
People Management:
- Develop and manage positive working relationships with all stakeholders across business lines and supporting functions including R&C units, KYC & Onboarding teams, Business (RMs), Regulatory Compliance, Business Compliance and FCC teams (Group CDD, Sanctions Advisory, AML Advisory, List Management etc).
- Support line manager, team members and other teams within Risk & Controls through providing timely assistance and solutions, on need basis.
- Resolve conflicts and provide effective solutions to the stakeholders.
- Efficient coordination with key stakeholders to get the job done in timely manner.
- Provide adequate guidance, coaching and necessary training for team members, and ensure ongoing performance feedback.
- Act as a role model to direct and indirect reports to drive adherence to FAB’s values and support talent development within the team.
- Collaborate with all Stakeholders to ensure seamless assignments delivery.
- Management of the team with the completion of daily tasks meeting TAT and deadlines.
- Management of Holidays/Sickness and Performance Managements within the team.
MI Reporting:
- Ensure all departmental MIs for senior management reporting are timely maintained.
- Ensure KYC deferrals are updated in the relevant tracker and tracked to resolution.
- Ensure PEP trackers and other relevant trackers are properly maintained.
- Preparation of presentations and dashboards on ad-hoc basis.
- Interact with other stakeholders and help the KYC teams achieve KIR’s / KPI’s.
Generic:
- Manage ADHOC & administrative activities as deemed appropriate and assigned by line managers.
- Frameworks, Boundaries, & Decision Making Authority
- Functions within the framework and boundaries of Group policies as well as overall Organisational and Governance frameworks.
- Authorised to take decisions as per the approved KYC authorisation matrix.
REQUIREMENTS / QUALIFICATIONS:
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 8 - 10 years of experience in a reputed Bank.
- At least 5 years technical experience across various aspects of Regulatory and Financial Crime Compliance (e.g. local and international requirements, FATCA, CRS, GDPR, AML, KYC, etc.).
- Relevant experience (Compliance/AML/KYC/Transaction Monitoring).
- Sound Microsoft Office applications knowledge.
- Pro-active and business oriented with proven ability to prioritize, manage conflicting demands and ability to assess.
Certifications required:
- Certification in Compliance, KYC/AML/CFT, Financial Crime or Risk Management.
- ACAMS or ICA certification.
