Officer, Enhanced Due Diligence - UAE National

Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile. 

The main purpose of the Officer – Enhanced Due Diligence is to analyze and assess the assigned high-risk customer profiles for existing customers periodically and upon trigger events including Politically Exposed person (PEP) identification and assessment against the Bank’s internal policies and procedures and determine whether they are in line with the Bank’s risk appetite and in line with the regulations.

Principal Accountabilities

• Conduct an in-depth review as per the Bank’s internal KYC / ODD Policy and Procedures of existing High-risk customer profiles which have been referred by the Business to Compliance for periodic (annually) and trigger based ongoing Due diligence.
• Ensuring completion of ODD with correct KYC data and information, any risk rating changes by performing KYC refresh on the information.
• Work closely with the Business to obtain any missing or additional KYC information or documentation during the KYC refresh which will be required to complete the high-risk customer ongoing due diligence as per the Bank’s internal procedures.
• Ensure if the customer has any red flags /FCC concern, suggest for exit relationship and work with Team lead to actioned through Business.
• Work closely with sanction screening team for newly identified PEPs through the periodic screening on PEPs
• Liaison with respective business to get the Business PEP assessments and senior management approval to ensure Compliance PEP assessment is completed by the officer before submission for approval from Compliance senior management.
• Ensure all true identified PEPs are appropriately marked in the system and also have updated PEP register
• Ensure that the required KYC information and documentation is properly retained and stored using the Bank’s systems for each business line.
• Document the review process to evidence the analysis conducted as well the rationale behind the sign-off or rejection of customer profiles.
• Escalate any concerns to ensure the customer profiles are well assessed and in line with the Bank’s policies and procedures.
• Follow the Bank’s exception handling process to obtain approvals where required information is not available (either temporarily or permanently) for the Bank during the ODD process or changes identified indicate a heightened risk of financial crime. 

Communication and Working Relationships

• The jobholder is required to contact and interact with all Departments/branches and functions of the Bank that may require advice (e.g., Credit, Operations, and respective Business and Branches etc.) while performing the Ongoing Due Diligence i.e. KYC refresh and PEP identification and completion of PEP assessment.
•  The jobholder shall ensure that the KYC ODD (CDD/EDD) measures are completed within acceptable time by the KYC ODD team.
•  The jobholder is accountable for providing accurate and timely information to the Manager on AML /TF risks identified during KYC refresh and for ensuring compliance with relevant laws in all aspects of the Bank’s activities.

• Bachelor's Degree as a minimum from a recognized university.
• At least 3 years of experience in the banking/financial services sector preferably having Due diligence exposure either through First line or Compliance (Second line of defense.