Supports the Regional Financial Crime Compliance (FCC) transaction monitoring and screening framework appropriate to the Region's Anti Money Laundering (AML)/Combating financing Terrorism (CFT) risks.
Key Roles and Responsibilities
Strategy (Responsibilities that are related to the development and implementation of a strategy)
Support the implementation of the FCC strategy in country by escalating appropriate FCC and AML issues.
Business (Responsibilities related to the delivery of business and / or financial objectives)
Support relevant stakeholders to make decisions based on current and possible future policies, practices, and trends.
Keep track of and provide advice to relevant stakeholders on the interpretation and application of regulatory expectations, laws, best practices and policies related to FCC.
Processes (Processes for which the role is responsible under the Operational Risk Framework ("ORF") as 1st & 2nd line; for executing / completing, and for supervising)
Develop, keep up-to-date with the changes in external and internal regulations including appropriate policies/processes/DOIs to address financial crime risks,
Ensuring compliance with UAE governance processes and FCC-related policies and procedures in UAE.
Provide advice to relevant stakeholders (including escalation to line managers and senior leadership) on compliance with Group standards relating to AML.
Responsibility for processing AML investigations end to end, from initial referral through to the outcome of the case (closure in Detica/escalation to regulators).
Adhere to UAE AML investigations procedures including ensuring an initial review of each allocated case is carried out within 1-3 working days of allocation and RFIs within the first 6 working days of allocation.
Processing and concluding cases allocated in a timely manner within agreed TATs where possible - including CMLCO SAR TATs.
People and Talent (Responsibilities related to people and talent matters)
Promote a culture of openness, trust and risk awareness, where ethical, legal, regulatory and policy compliant conduct is the norm.
Ensure forward planning, prioritisation, deadline management ,and streamlined workflows and collaborative, inclusive yet effective and efficient work practices are the norm.
Support the training and development of new analysts in the team by providing on the job support.
Risk Management (Responsibilities Under Risk Man agement Framework - both execution and supervisory)
Support the day to day management of Transaction Surveillance and Ad Hoc AML Investigation activity for the UAE by developing and deploying sound analytical skills to produce balanced judgements in relation to AML and financial crime risk.
Produce high quality investigations resulting in good quality SARs provided to the CMLCO for review.
Ensure the suitability and quality of case data maintained on enterprise case management systems and internal logs (Investigation tracker, Watch Lists, SAR log and LCM log as appropriate).
Understand technical aspects of systems relevant to CDD, Client Risk Assessments, Name and Transaction Screening, AML Monitoring and Case Management
Utilising existing data analytic tools/techniques/and systems to optimise the quality of casework including all available systems for UAE (EBBS, EOPs, Accuity).
Identify and highlight any compliance gaps in existing controls or relevant systems.
Ensure that detection scenarios that are deployed are fit-for-purpose, providing feedback where false positives or immediate emerging risks are identified locally.
Apply Group and FCC policies and processes (AML surveillance, client screening, risk assessment) to manage risks.
Make recommendations (and/or implement) to relevant stakeholders on possible risk management responses to identified risks and/or findings of concerns from investigations - including following up on CMLCO decisions and tracking outcomes.
Identify and escalate any potential risks AML/ and other financial crime risks to the relevant stakeholders
Provide intelligence inputs to support calibration of FCC risk typologies and utilise the internal IX and ICE protocols to ensure global escalation of core issues where appropriate.
Conduct a root cause analysis on the control/other failures to ensure lessons are learned across the FCC UAE Controls Team.
Propose control improvements, enhancements and simplifications where appropriate.
Support all control checks undertaken by FCC under the Operational Risk Framework (ORF) and drive remediation action within the FCC function where appropriate.
Analyse and interpret data to produce reports that help the bank identify and manage emerging areas of risk / vulnerability and support in the remediation action within the FCC function.
Regulatory & Business conduct
Display exemplary conduct and live by the Group's Values and Code of Conduct.
Take personal responsibility for embedding the highest standards of ethics, including regulatory and business conduct, across Standard Chartered Bank. This includes understanding and ensuring compliance with, in letter and spirit, all applicable laws, regulations, guidelines and the Group Code of Conduct.
Support the FCC function to achieve the outcomes set out in the Bank's Conduct Principles: Fair Outcomes for Clients; Effective Operation of Financial Markets; Financial Crime Prevention; The Right Environment
Effectively and collaboratively identify, escalate, mitigate and resolve risk, conduct and compliance matters.
UAE FCC, Business Advisory and Compliance teams
UAE and Regional Sanctions teams
Regional FCC Controls team
Direct manager and Countersigning Manager
Embed Here for good and Group's brand and values in UAE FCC Controls & UAE Compliance
Perform other responsibilities assigned under Group, Country, Business or Functional policies and procedures.
Qualifications and Skills
The role holder needs to possess knowledge and relevant qualifications and relevant experience in the area of client due diligence and financial crime compliance.
The role holder will need to have CDD experience.
Excellent communication and stakeholder management skills are required.
Working knowledge of FCC, covering AML, CDD and Investigations
Relevant qualifications such as ACAMs and FCC training academy
TECHNICAL COMPETENCIES Target Proficiency Level: Compliance Policies and Standards Core Compliance Advisory Core Compliance Review and FCC Assurance Core Surveillance (including Screening and Monitoring) Core Investigations Core