Officer, Sanctions

DESCRIPTION

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 Sanctions officer is responsible for the monitoring and investigation of
sanctions, PEP or Adverse Media alerts and should ensure timely reporting of
any sanctions true matches or breaches. As well as, participate in customer
activity reviews pertaining to Sanctions or adverse media

The role holder shall also review remittance and trade finance transactions
escalated to Compliance as well as Requests for Information (RFIs) received
from the correspondent banks.

Principal Accountabilities

• Review of sanctions alerts which have been escalated for further analysis by the L1 and or L2 team in India in order to determine whether there is a true match or a false positive as per the Bank 's internal procedures.

Maintain supporting documentation and evidence of the analysis conducted,
including a detailed explanation as to why an alert has been discounted or
escalated for further review as a true match.
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Escalate sanctions matches and policy breaches and support on the resolution
of sanctions alerts to ensure compliance with international sanctions
standards. Review transactions which have been referred to Compliance from the
Bank's remittance and trade finance teams due to identified AML/CFT and
Sanctions high-risk factors.
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  Review of Requests for Information (RFIs) received from the Bank's correspondent banks within the agreed turnaround times. The role holder is expected to review the information prior communicating with the correspondent.

  
  


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  Complete the periodic KYC refresh of the Bank's correspondent banking relationships as required.

  
  


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  Assist in providing support on the optimization and operation of the sanctions compliance systems.

  
  


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  Ensure timely response to information/ advice requested by the Banks Internal Business units in accordance with the Banks Sanctions/ AML / KYC policy.

  
  


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  Perform thematic reviews of customers based on external or internal triggers or as directed by the Sanctions Manager

  
  


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  Maintain, Track and Update Sanctions SOP / Policy in consultation with the Sanctions Manager or the Head of Financial Crime.

  
  


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  The jobholder is accountable for providing accurate and timely information to the Manager Sanctions on all sanctions related matters and for ensuring compliance with relevant local and international regulations, specifically, OFAC, UN, EU, UAE and OFSI.