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Assistant Manager, Sanctions

Commercial Bank of Dubai
Dubai, United Arab Emirates

Assistant Manager, Sanctions

Dubai, United Arab EmiratesPosted 27 days ago
23People have clicked1 open position

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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.Job Purpose The Assistant Manager Sanctions is responsible for leading CBD’s Sanctions compliance team by the Head count, providing leadership, Support, Guidance and Coaching. As well as, managing day-to-day operational task of offshore Sanctions screening alerts.The role holder is expected to perform and or participate in bank wide training pertaining to Sanctions or adverse media and contact point as SME for Sanctions compliance.Principle AccountabilitiesEstablish, implement and review the Bank's Sanctions framework including devising the Sanctions Policy, SOP’s and governance process.Identify and mitigate Sanctions risks in the bank through continuous assessment and development of new procedures, systems control etc.Leading CBD’s Sanctions compliance team by the Head count, Providing leadership, Support, Guidance and Coaching.Manage the entire offshore team on day-to-day activity on Sanctions screening (Name & Payment).Manage knowledge transfer, material development and training delivery. Standardize training modules - ensuring alignment with new process/guidance releases by CB UAE.Execute process training to offshore team and calibrate results across.Collaborate with Quality Assurance and management across offshore to identify learning gaps and develop solution oriented and measurable training.Overseeing implementation and conducting internal inspections and communication with offshore team.Visiting offshore sites to ensure that agreed procedures are being implemented.Provide sanctions compliance trainings to business units/throughout the bank (department-wise).Manage the real-time Sanctions screening of inward and outward remittances against local and international sanctions requirements, CBD Sanctions Policy, UAE regulations and international best practice to ensure ongoing compliance with various sanctions programs.Managing CBD’s Sanctions alert generation and investigation process by monitoring daily, weekly, and monthly alert and case inventory and balancing workloads across the team to ensure all alert analysis and case investigations are completed within established service level agreements and regulatory mandate.Act as focal point of contact for all escalations pertaining to International Trade, securities and remittance with respect to sanctions related matters and policies.Lead the continuous implementation/upgrade of Sanctions Compliance systems through project coordination, staff training and business support. Manage the sanctions screening for real-time and periodic account onboarding, Politically Exposed Persons (PEP) and adverse media screening against the various Sanctions Regimes and local regulatory requirements.Interact with Senior Management and cross-functional partners to raise awareness of Sanctions typologies, emerging issues, remedial actions or enhancements to the program. Provide Sanctions advisory in line with applicable laws, regulations and banks Policy and Procedures on matters raised as part of customer onboarding and transactional issues.Provide advice and guidance on sanction compliance issues that arise through the relevant businesses and in compliance unit.Provide accurate and timely information to the Sanctions Manager on all sanctions related matters and for ensuring compliance with relevant local and international regulations, specifically, OFAC, UN, EU, UAE and UK-HMT.Requirements:Experience And Qualifications6 years of experience in the banking/financial services sector with a minimum of 4 years in Sanctions advisory functionBachelor's Degree SkillsGood written and oral communication.Report writing skillsMust have a background of performing sanctions screening against OFAC, EU, UN, UAE and UK-HMT. sanctions regime.Well informed about PEP classification

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