ROLE AND PURPOSE
As the Assistant Manager - Regulatory Compliance & Financial Crime Compliance, you will support Bank's regulatory compliance and financial crime compliance framework as a second line of defence function.
The role is structured with an approximately equal focus on:
- 50% Regulatory Compliance
- 50% Financial Crime Compliance (AML/CFT/Sanctions/KYC)
The successful candidate will support the Bank in meeting its obligations under applicable FSRA, ADGM, UAE Federal AML, sanctions and other regulatory requirements while ensuring effective implementation of compliance monitoring, advisory, onboarding, transaction monitoring, sanctions screening, regulatory change management, and governance activities.
The role requires close collaboration with business units, operations, risk management, legal, internal audit, senior management, and regulatory authorities where appropriate.
KEY RESPONSIBILITIES
A. Regulatory Compliance (50%)
Regulatory Advisory and Oversight
- Support implementation and maintenance of the Bank's Regulatory Compliance Framework.
- Provide compliance guidance for business, operations and support functions on applicable FSRA regulations and regulatory obligations.
- Assess new products, services, business initiatives and outsourcing arrangements from a compliance perspective.
- Assist with regulatory impact assessments arising from new or amended FSRA, ADGM and UAE regulations.
Regulatory Change Management
- Monitor developments issued by:
- FSRA
- ADGM
- UAE AML Executive Office
- UAE Financial Intelligence Unit
- Relevant international standard setters and regulators
- Maintain regulatory change logs and coordinate implementation of required actions.
- Support policy and procedure enhancements resulting from regulatory developments.
Compliance Monitoring and Testing
- Execute compliance monitoring reviews in accordance with the Compliance Monitoring Programme.
- Perform thematic reviews and control testing across business units.
- Track remediation actions and follow up on outstanding findings.
Regulatory Reporting and Governance
- Assist in preparation of reports for:
- Board Committees
- Risk Management Committee
- Compliance Committee
- Senior Management
- Support the preparation and submission of regulatory notifications and returns.
- Maintain regulatory correspondence and action trackers.
Policies, Procedures and Training
- Support drafting, review and maintenance of:
- Compliance Policies
- Regulatory Procedures
- Governance Documents
- Control Frameworks
- Deliver compliance awareness and regulatory training to staff.
- Promote a strong compliance culture across the Bank.
Regulatory Inspections and Audits
- Support regulatory reviews and examinations conducted by the FSRA.
- Coordinate responses to regulatory information requests.
- Assist with Internal Audit and External Audit reviews related to compliance matters.
B. Financial Crime Compliance (50%)
Customer Due Diligence and KYC
- Review customer onboarding, periodic review and event-driven review cases.
- Assess customer risk ratings and due diligence requirements.
- Review beneficial ownership structures and complex ownership arrangements.
- Conduct Enhanced Due Diligence (EDD) reviews for higher-risk customers.
Sanctions Screening
- Review name screening alerts generated through onboarding and transaction systems.
- Investigate sanctions-related alerts and document rationale.
- Escalate true matches and potential sanctions concerns to the MLRO.
- Support sanctions risk assessments and control enhancements.
Transaction Monitoring
- Review AML transaction monitoring alerts.
- Conduct investigations and document findings.
- Escalate unusual or suspicious activity to the MLRO.
- Support tuning and optimisation of transaction monitoring scenarios.
Suspicious Activity Reporting
- Assist the MLRO in gathering information relating to suspicious activity investigations.
- Maintain investigation files and supporting documentation.
- Track internal escalations and reporting timelines.
Financial Crime Risk Assessments
- Participate in enterprise-wide financial crime risk assessments.
- Monitor emerging AML, sanctions, fraud and financial crime risks.
- Support implementation of mitigating controls.
Financial Crime Framework
- Assist in maintaining:
- AML/CFT Policy
- Sanctions Policy
- Customer Due Diligence Procedures
- Transaction Monitoring Procedures
- Financial Crime Risk Assessment Methodology
- Support periodic reviews and enhancements of the FCC framework.
Management Information and Reporting
- Prepare FCC management information and reporting.
- Produce trend analysis relating to:
- KYC reviews
- Transaction monitoring alerts
- Sanctions alerts
- STR/SAR metrics
- Financial crime risks
QUALIFICATIONS AND EXPERIENCE
Education
- Bachelor’s degree in law, Finance, Business Administration, Accounting, Risk Management or related discipline.
Professional Qualifications (Preferred)
- ICA Diploma in Compliance.
- ICA Diploma in AML.
- ACAMS Certification.
- International Compliance Association (ICA) qualifications.
- Any equivalent regulatory or compliance certification.
Experience
- Minimum 5-8 years of experience within banking, financial services, fintech, or regulated financial institutions.
- Experience in both:
- Regulatory Compliance
- Financial Crime Compliance (AML/CFT)
- Experience working within organisations regulated by:
- FSRA
- DFSA
- CBUAE
- Other recognised financial regulators
- Experience dealing with corporate, institutional and high-risk clients.
SKILLS AND COMPETENCIES
- Strong knowledge of FSRA regulations and ADGM requirements.
- Strong understanding of UAE AML/CFT legislation and sanctions requirements.
- Knowledge of FATF Recommendations and international best practices.
- Excellent analytical and investigative skills.
- Strong report writing and documentation capabilities.
- Ability to interpret regulations and translate requirements into practical controls.
- Strong stakeholder management and communication skills.
- Ability to challenge constructively and exercise independent judgement.
- High attention to detail and strong organisational skills.
- Proficiency in compliance, case management and monitoring systems.
KEY PERFORMANCE INDICATORS (KPIs)
Regulatory Compliance
- Timely implementation of regulatory changes.
- Completion of compliance monitoring reviews.
- Closure of audit and regulatory findings within agreed timelines.
- Quality and timeliness of committee and management reporting.
Financial Crime Compliance
- Timely review of onboarding, periodic review and event-driven review cases.
- Timely disposition of sanctions and transaction monitoring alerts.
- Quality of investigations and escalation reports.
- Compliance with internal service levels and regulatory obligations.
- Reduction in backlog and overdue FCC reviews.
