The position is overseeing the Compliance function on Know Your Customer (KYC) and Anti-money laundering (AML) monitoring in line with the rules and regulations of the Stored Value Payments/Digital payments published by Central Bank of UAE for a Joint Venture (JV) formed by Noor Bank.
The Compliance manager for the JV will function as an independent and objective resource that prepares, implements and monitors the KYC and AML policies for the digital wallet eco-system and is authorized to provide decision on all reviewed cases referred as part of on-boarding and periodic monitoring. The individual will review and evaluate compliance issues/concerns and ensure company policies and procedures are being followed, and that behavior in the organization meets the company’s Standards of Conduct.
The role will report to CEO of the JV with oversight and dotted reporting into Noor Bank’s Chief Compliance Officer and designated individuals (Head of Compliance & Head of AML). The Compliance manager, together with the Chief Compliance officer of Noor Bank, is authorized to implement all necessary actions to ensure achievement of the objectives of an effective process and procedure.
Prepare and continuously enhance the company’s Compliance and AML/CTF guidelines in line with Central Bank of UAE regulations on stored value payments related to PSP license
Ensure rigor in the client on-boarding and transaction monitoring for the digital payment eco-system and conduct perform periodic review on the high risk customers, merchants and agents
Investigate, validate and respond to alleged violations of rules, regulations, policies, procedures, and Standards of Conduct
Develop and oversee a system for uniform handling of KYC/CTF/AML violations for the JV while maintaining confidentiality of information to the highest standards
Act as an independent review and evaluation body to ensure that compliance Issues/concerns within the JV are being appropriately evaluated, investigated and resolved
Serve as a first point of contact for all external parties (Noor Bank, Agents, Merchants, the Regulatory body and Payment associations for Compliance related matters of the JV)
Raise Suspicious Activity Report / Suspicious Activity Transactions for the unusual transactions/suspected accounts to UAE Central Bank
Conduct periodic reviews and spot-checks on participants in the digital wallet eco-system and taking appropriate steps to improve its effectiveness
Promote & cultivate the culture of compliance with AML & CTF requirements to ensure safe and clean business operations through proactive communication with JV staff on latest requirements and implement practical steps to reach compliance within the target date
Develop an effective training program for JV employees on all Compliance and AML matters, tailored to specific business activities
Job Details
| Posted Date: | 2018-10-15 |
| Job Location: | Dubai, United Arab Emirates |
| Job Role: | Banking |
| Company Industry: | Banking |
| Monthly Salary: | US $8,000 |
Preferred Candidate
| Career Level: | Management |
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