AVP- Sanctions Advisory (Emiratisation Role)

Now it’s your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We’re looking for the brightest and best to help us reach our goals and we’ll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.

JOB PURPOSE:

• To provide compliance support to Businesses and enablement units under responsibility area on all compliance matters as per the applicable regulatory and compliance requirements, FAB risk appetite and any other specific requirements that may apply jurisdictionally.
• Understand how FAB Group operates and maintain business, technical and product-based knowledge for the business area/s that are under responsibility.
• Understand and provide compliance advisory support for the CBUAE, SCA, UAE Federal Laws as well as FAB Group policy and procedures.
• Be the first point of contact for comprehensive risk-based support for the business area/s under responsibility and assume any further delegated responsibilities by the VP and SVP.
• Attend all Mandatory and related training to attain insight of FAB's businesses, products, services as well as compliance requirements
• Provide day-to-day Compliance Business Advisory support to all business area/s under responsibility for all business-as-usual matters on an ongoing basis and as may be delegated by the Head of Compliance
• Maintain an ongoing relationship and work in close contact with Business and Group functions to ensure appropriate support is provided on all Compliance Business Advisory matters

KEY ACCOUNTABILITIES:

Job Specific Accountabilities

Policies, Systems, Process & Procedures

•  Follow all relevant policies, processes and standard operating procedures, and instructions so that the work is carried out in a controlled and consistent manner.
• Support the Business Units to adhere to Group Compliance policies, procedures, and processes.

Continuous Improvement

•  Identify and propose opportunities for continuous improvements to Consumer Banking related systems, processes and practices based on risks and control deficiencies identified.

Reporting

• Support in preparation of MI reports for internal and external use as required by the SVP and VPs of the Consumer Banking and Global Private Banking Compliance function.

Consumer Banking Advisory and Administration

• Provide Compliance advice to internal and external (Group wide) stakeholders as required.
• Provide advice for new product reviews and financial promotions, in consultation with the VP - Consumer Banking Products, Wallet Products, Digital, Dubai First & FAB Islamic.
• Provide adequate advice on specific projects related to Consumer Banking Products, Wallet Products, Digital, Dubai First & FAB Islamic.
• Advise Business Units with technical insights and build credibility based on an understanding of their challenges related to products, customers and transactions, in consultation with the VP Compliance for Consumer Banking Products, Wallet Products, Digital, Dubai First & FAB Islamic.
• Provide updates to Consumer Banking Products, Wallet Products, Digital, Dubai First & FAB Islamic business units on compliance requirements, best practices, market news, international regulations, hot topics and regulatory changes, in consultation with the VP Consumer Banking Products, Wallet Products, Digital, Dubai First & FAB Islamic.
• Support the Business Units during the GIA audits and CBUAE audits in responding to ad-hoc requested from CBUAE and GIA auditors.
•  Coordinate with Regulatory Compliance and FCC functions to provide recommendations on compliance risks.
• Coordinate with Regulatory Compliance for updated rules and regulations and disseminate to Business units accordingly.
• Connect requestors to Compliance colleagues to obtain approvals (where required), track and maintain records of decisions for the business unit.
• Provide support in breach handling and breach reporting.

Generic

• Track progress on implementation of Internal Audit and Compliance Monitoring recommendations for the Consumer Banking and Global Private Banking Compliance Team
•  Support in execution and program management of financial crime related projects as per the project guidelines set by the Compliance Governance Department.

 Job Context

Provide Compliance support to the areas under coverages which are:

• Consumer Banking Products
• Wallet Products
• Digital Banking
• Dubai First (DF)
• FAB Islamic

Specific Accountabilities:

• Provide Compliance advice to internal and external (Group wide) stakeholders as required.
• Provide advice for the areas that are under coverage on new policies, procedures, and processes.
• Provide advice for the areas that are under coverage on new product and service review process and financial promotions.
• Advise Business Units with technical insights and build credibility based on an understanding of their challenges related to products, customers, and transactions.
• Provide updates to the areas under responsibility on compliance requirements, best practices, market news, international regulations, hot topics, and regulatory changes.
• Support the respective Business Units during CBUAE, SCA and any other regulatory bodies’ audits and coordinate the submission of the related information as may be requested by CBUAE.
• Coordinate with Regulatory Compliance and FCC functions to provide recommendations on compliance risks as and when needed; otherwise, advise Regulatory Compliance and FCC functions on decisions being made
• Attend periodic compliance-business meetings with the functional heads of the areas that are under coverage.
• Assist in conducting compliance awareness and training sessions for staff of the areas under coverage a periodic basis and in line with the function’s training plan.
• Understand the end-to-end processes of the areas that are under coverage and highlight possible compliance related concerns and assist the teams to mitigate these concerns.
• Assist in the rollout and execution of annual Enterprise-Wide Risk Assessment (EWRA) process and in finalising the EWRA issues
• Assist in the rollout, execution of Risk and Control Self-Assessment (RCSA) for the function and resolution of RCSA issues
• Support the businesses under responsibility from a Compliance Advisory perspective for the appropriate and timely resolution of any internal or external Audit issues

Minimum Qualification

• Bachelor’s Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, AML/CFT, Financial Crime or Risk Management.
•  Any other compliance qualification and accreditation obtained from the reputable institutions such as ICA, ACAMS, CISI etc would be an advantage.

Minimum Experience

•  At least 8 years of experience in a compliance, risk, and audit function.
• Experience in all or at least in one of the business areas under responsibility