Head of Compliance - Retail Banking (UAE)

Job Functions:

Skill:

•       Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.

•       Clear Understanding of Local Laws &  Sanctions, Regulations and other leading Sanctions Regimes.

•       Managing FI Relationships w.r.t. Compliance and especially FCC Segment and handling of RFIs

•       Consistent application of the bank's AML/CFT/CPF policy, Standards and allied procedures .

•       Ensure effective implementation of the Bank’s FCC strategy to ensure vertical alignment and horizontal integration with other interfacing departmental strategies.

•       Review policies, procedures, and products, recommend required changes if any to align them with the local regulatory requirements and providing day to day advisory , wherever sought.

•       Conduct periodical branch visits to discuss, assess and address the regulatory compliance related issues and concerns.

•       Oversee and monitor the reviews as per the bank's Compliance Review Plan.

•       Compliance Resource management in consultation with HR

•       Provide Subject Matter Expert guidance to Business and Operations on Sanctions, especially legal bindings and generally regimes identified by bank policy.

•       Clear Understating of Managing FI Relationships and their RFIs

•       Oversee the review of Unusual Activity Reports  for reporting of STRs to the regulator.

•       Oversee the risk based compliance programme for UAE branches

•       Reviewing AML/CFT/CPF Policy & Standards to ensure these are consistent with  regulatory requirements and updating the same upon change in the applicable regulatory regime.

•       Participate in Compliance Focus Group and other formal and informal meetings with staff members and management to discuss and provide timely updates on status of Bank's compliance with the applicable regulatory requirements in particular AML/CFT/CPF.

•       Design and conduct periodic training of the staff on the latest & significant regulatory requirements including AML/CFT/CPF in liaison with HRD.

•       Act as point of contact and for CBUAE.  Keep strong relationship with the Central Bank and other regulatory authorities and ensuring provision of required information to the regulators in a timely manner. Further, Coordination with other regulatory bodies and law enforcement entities.

•       Act as coordinator for CB UAE examinations including thematic reviews, baseline examination, assets quality review and any other reviews initiated by the regulator

•       Ensuring effective coordination for closure of examination finding, Compliance risk identified or any other regulatory remediation plans

•       Identification, monitoring, remediating and reporting of regulatory risk related to UAE franchise to the Compliance Committee at Head Office level. Ensuring timely and effective closure of actions suggested by the compliance committee on franchise risk escalated to HO.

•       Submit periodic reports to the members of the concerned management on issues of regulatory significance and tracking for resolution.

•       Implementing Compliance Risk Management framework in line with the applicable regulatory requirements and with coordination & direction from Head Office

•       Participating in the Compliance Committee of Management, as and when required.

Requirements

Minimum Qualifications:

·        Minimum Bachelor degree and preferably a Master’s Degree

·        CAMS or  Certified from International Compliance Association 

Minimum Experience:

·        10+ years banking experience, out of which 5 years in compliance / Internal Audit /Risk function