Head of Sanctions

Negotiable
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PLEASE CONTACT

SAMI QURESHI

Manager - Sanctions Advisory

(Reporting to Head - Group Compliance and Group MLRO)

JOB PURPOSE

To identify sanctions deficiencies, provide sanctions advise and monitor integrity of sanctions lists in payment and screening systems to ensure compliance with regulatory requirements and mitigate sanctions risk for the bank

ACCOUNTABILITIES

  1. Sanctions Risk Management
  • Review customer accounts and account opening documentation for irregularities and anomalies related to sanctions and handle transactions escalated from screening systems to ensure any sanctions risks are handled according to agreed policies, procedures and guidelines
  • Define and ensure integrity of all Sanctions Lists for payment and on-boarding systems to ensure the bank is not exposed to any risk of dealing with a sanctioned person and/or entity

  1. Sanctions Advisory
  • Keep abreast of sanction developments (domestic and international); communicate new developments and provide advice to key stakeholders through development of policies and procedures to ensure any sanctions risk are mitigated
  • Provide sanctions-related training to staff to ensure awareness and promote compliance culture within the bank
  • Lead all sanctions related systems and/or process projects to ensure end-to-end management

  1. Sanctions Compliance
  • Review and investigate all breaches, discrepancies and irregular activities, and recommend corrective actions to ensure compliance with the bank’s Sanctions policies/procedures and mitigation of identified risks for the bank

  1. Reporting
  • Prepare periodic MIS reports and reports for the UAE Central Bank (CB) on Iran-related transactions to ensure compliance with regulatory requirements
  • Manage external communication with CB and/or correspondent banks to ensure timely responses are provided
  • Escalate sanctions related cases to Group Chief Compliance Officer to ensure awareness and report to CB where necessary

  1. Budget Management
  • Contribute to the preparation of the business area’s budget and manage and monitor the financial performance against the budget so that areas of unsatisfactory performance are identified, rectified promptly and potential performance improvement opportunities are capitalised upon

  1. People Management
  • Manage self and team in line with people management policies, procedures, processes and practices to ensure adherence and to maximise own and employee contribution to business performance
  • Manage the effective achievement of the team’s objectives through setting individual objectives, managing performance, developing the team and providing formal and informal feedback to maximise overall performance, engagement and motivation

DESIRED SKILLS AND EXPERIENCE

Minimum Experience

  • At least 10 years of experience in the banking/financial services sector with exposure to banking transactions and in the sanctions environment.
  • Must have managerial experience.

Minimum Qualifications

  • Bachelor’s Degree as a minimum from a recognized university

McGregor Boyall Associates Pte Ltd is an equal opportunity employer and do not discriminate on any grounds.

EA Licence No: 11S4330

 

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