Manager Enhanced Due Diligence

Commercial Bank of Dubai

  • Dubai
  • Permanent
  • Full-time
  • 1 month ago
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.The main purpose of the ODD Team leader will be to manage the Due Diligence Team for all existing clients including but not limited to, writing procedures, regulation providing advice and training.
  • Ensure that the “Know Your Customer” (KYC) refresh through Ongoing Due Diligence Procedures for all existing customers (i.e., individuals, corporates, financial institutions etc.) and checklists are in place and line with all local regulations.
  • Ensure that CDD and EDD through Ongoing Due Diligence processes and procedures are implemented and maintained in line with local regulations.
  • Provide SME guidance / input to the Business on all KYC ODD issues including KYC refresh ODD forms and general KYC procedures.
  • Ensure all High-Risk customers ODD is completed by ODD team during the agreed SLAs and TAT.
  • Ensure PEP assessments for truly identified PEPs are completed in due course, including of PEP approvals from Business senior management and obtaining approvals from Compliance senior management.
  • Ensure to liaison with Business and Ops for completion of data / PEP and ODD are completed in due course for customer satisfaction and consequence management is followed where ODD refresh is not completed as per the ODD Policy.
  • Ensure that appropriate, clear and efficient escalation procedures exist to allow the Business to raise relevant existing high-risk accounts for review and / or approval.
  • Ensure that a customer KYC risk (high, medium, low) categorization structure / matrix for all customers is implemented and maintained in all Business, procedures and IT systems.
  • Provide SME guidance / input to the Business on how to evaluate KYC risks and exit of customer accounts.
  • Provide input on the production and delivery of all KYC ODD related training materials (eLearning and Face to Face) and participate in the delivery of Face to Face KYC training.
  • Ensure the appropriate implementation and completion of all KPIs for direct reports.
  • Work closely with the business and IT to identify business and process improvement opportunities.
  • Provide SME guidance / input on all new or existing KYC impacted IT systems.
  • Conduct regular meetings with the business and compliance to facilitate good communications and resolve KYC ODD issues within the organization for various business areas
  • Ensure KYC CDD / EDD (ODD) policy and procedures remain updated, relevant and communicated as required to all stakeholders.
  • Act as a senior referral point for ODD matters escalated by Business Units
  • Conduct a risk assessment to Identify risks in ODD processes.
  • Ensure timely implementation of ODD gaps identified in internal / external audit and regulators.
  • Assist Head of Business Compliance on implementing organizational initiatives and other official matters, when required.
Requirements:
  • Bachelor’s degree or equivalent in Finance & Administration.
  • Professional certification in AML and Compliance
  • (ACAMS) Certificate in Anti Money Laundering & Financial Crimes.
  • 5-6 years of banking experience of which at least 3-5 years in the field of Compliance & AML will be added value
  • Good understanding of the business, banking concepts and procedures & operations.

Commercial Bank of Dubai