Senior Manager Financial Crime Compliance and MLRO

Senior Manager - Financial Crime Compliance and MLRO Embark on a journey where your unique contributions are celebrated, and your professional growth is embraced. At ADCB, we nurture a diverse, inclusive community where every voice is valued.

About the business area, Group Compliance & Governance :

function at ADCB which takes an active approach to risk management and monitoring, ensuring the Bank complies with applicable laws, regulations, rules and market standards. The Group creates, implements and monitors policies and procedures designed to prevent or detect financial crime and any compliance breaches of the Bank, its employees and clients. It also monitors and measures the impact of conduct risk and compliance on the Bank’s risk appetite and profile.

In this role, your key responsibilities include

Develop and implement regular monitoring procedures and practices in order to assess the adequacy and effectiveness of internal systems of control and measures in combatting AML / CFT

Drive the coordination and execution of the financial crime compliance work-streams to ensure alignment with the SAMA guidelines

Review and approve new products and services from an AML / CFT perspective to ensure any risks are identified and mitigated

Maintain knowledge of changes in SAMA laws and regulations in order to provide guidance on proposed regulatory changes

Assist management in developing and maintaining an effective AML / CFT compliance culture to ensure compliance with Banks guidelines

Act as the interface between the Bank and external regulators / law enforcement on financial crime compliance customer related enquiries / investigations and oversee the provision of relevant / requested information to ensure requests for information are responded to within agreed timelines

Engage and coordinate with SAMA on the Bank’s overarching AML / CFT and Sanctions risk policies, risk assessment procedures and controls, and the risk mitigation framework, including its Customer Due Diligence (CDD) measures to ensure the quality, strength and effectiveness of the Bank’s AML / CFT and Sanctions programme

Work with senior management and other internal / external stakeholders to ensure employees are qualified, trained, equipped and aware of their responsibility to combat the threat posed by financial crimes in order to establish and maintain a strong and effective compliance culture within the Bank

Develop an AML / CFT and Sanctions programme commensurate with the volume and nature of the business of the ADCB KSA branch and the AML / CFT and Sanctions risks it has identified in order to reduce and effectively manage these risks

Manage the implementation and management of systems, controls, and change initiatives, identifying and developing new or improved delivery mechanisms in order to remain in line with changing legislation and expanding business

Set and implement the financial crime risk appetite and associated metrics as well as policies and procedures for AML / CFT in order to comply with SAMA standards and also aligned to ADCB Group’s standards and global best practice

Regularly review the effectiveness of AML / CFT and Sanctions compliance policies and procedures in order to prevent money laundering and counter the financing of terrorism

Provide client acceptance advice to business units and propose de-risking / exits in order to minimise risks associated with client on-boarding

Develop and manage a comprehensive sanctions programme to ensure effective implementation through adequate systems and controls

Implement systems and controls that focus on the prevention and detection of transactions related to the crimes of money laundering, the financing of terrorism and of illegal organisations, reporting suspicions to KSA FIU, and cooperating with the competent authorities to ensure the Bank is adequately protected

Develop and update regulatory and statutory reporting programmes, such as Suspicious Activity Report (SAR), liaising with key stakeholders and third party service providers to ensure timely and accurate regulatory reporting

Leverage data analytics and modelling techniques in order to uncover abnormal financial transactions and complex relationships

Review and investigate all breaches, discrepancies and irregular activities and recommend corrective actions to ensure risks identified are properly mitigated for the Bank

Report any concerns on financial transactions directly to the KSA FIU in order to advise them of any potential AML / CFT observations

Produce a semi-annual MLRO report in order to keep the relevant parties updated on the financial crime compliance framework and its effectiveness within the Bank, present the report to the ADCB KSA branch management and Group MLRO, and submit to SAMA as required

The ideal candidate should have the following experience

At least 6 years of experience in Banking / financial services sector in Branch, Retail or Corporate Banking with exposure to Banking transactions and supervisory responsibilities and at least of 5 years of experience in the compliance environment

Bachelor’s Degree in relevant specialisation

Compliance or AML diploma / certification

Knowledge of international Banking best practices and Banking data analysis platforms

Knowledge of global AML / CFT standards such as Financial Action Task Force (FATF), Wolfsburg, Basel recommendations

Knowledge of UAE AML and combating the financing of terrorism and illegal organisations guidelines for Financial Institutions

Microsoft Office Suite

What we offer :

Competitive Salary & Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.

Comprehensive Benefits Package : This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).

Flexible and Remote Working Options : We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.

Learning and Development Opportunities : We value and facilitate continuous learning and personal development through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-learning catalog, on-the-job training, and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.

Seniority level : Director

Employment type : Full-time

Job function : Other

Industries : Banking and Investment Banking

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