Abu Dhabi Commercial Bank (ADCB)
Abu Dhabi, Dubai, UAE
To complete due diligence on new to bank client on-boarding, monitor existing clients to rule out money laundering/terrorist financing/sanctions risks, investigate and report unusual/suspicious cases to UAE Central Bank in order to comply with regulatory requirements and mitigate risk for the bank.
– Review account opening/know your customer (KYC) documentation, conduct quality client due diligence factoring AML/CFT and sanctions risks, liaise with business units and vigilance and control team to ensure quality of KYC forms and documents.
– Document on-boarding decisions for reviewed clients, provide advisory for sanctions matches referred by operations and business units and provide sign off for account opening for increased risk and Politically Exposed Persons (PEP) customers to ensure compliance with regulatory requirements.
– Conduct risk assessments on reviewed clients, issue advisory/take decisions on new to bank account opening requests, make decisions on the risk assessment (increased, neutral, un-acceptable risks) of existing relationships to ensure compliance with regulatory requirements.
– Review system generated alerts against customer data, investigate for potential money laundering/terrorist financing/sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious, update relevant MIS to ensure accurate tracking and record keeping, mitigate sanctions risks by taking decisions on payment filtering system, update internal watch-lists, identify tainted/blacklisted names and ensure required actions are taken in order to fulfil regulatory requirements and avoid penalties.
External Reporting and Correspondence
– Draft and report on MLRO/Deputy MLRO approved suspicious transaction reports (STRs), action and submit responses to UAE Central Bank on STRs, assist with addressing queries from corresponding banks relating to money laundering and sanctions matters, carry out freezing of funds and blocking of accounts, respond to and raise requests for information (RFIs) from other banks on anti-money laundering and sanctions in order to fulfil regulatory requirements and avoid penalties.
Advice and Guidance
– Act as a subject matter expert to employees providing guidance on what actions to take when dealing with high risk accounts and transactions, contribute to the formulation of internal policies, procedures and training materials to support compliance with regulatory requirements.
Policies, Processes, Systems and Procedures
– Adhere to all relevant organisational and departmental policies, processes, standard operating procedures and instructions so that work is carried out to the required standard and in a consistent manner while delivering the required standard of service to customers and stakeholders.
– Manage self in line with the bank’s people management policies, procedures, processes and practices to ensure adherence and to maximise own contribution to business performance.
– Demonstrate Our Promise and apply the ADCB Service Standards to deliver the bank’s required levels of service in all internal and external customer interactions.
– Bachelor’s Degree in Finance, Accounting, Commerce or Business Administration.
– At least 4 years of experience in banking in compliance, branch or operations department.
Knowledge and Skills
– Microsoft Office (Word, Excel and PowerPoint)
– Understanding of account opening and customer documentation
– Knowledge of customer transactions and behaviours
– Exposure to banking transactions
– Understanding of local/International and Central Bank rules and regulatory requirements
– Understanding of banking systems, reports and workflows
About the Company
Founded in 1985, ADCB employs more than 4,000 staff from 62 nationalities, serving over 600,000 retail customers, and approximately 50,000 corporate and SME clients. The bank operates in 48 branches, 4 pay offices, 2 branches in India, 1 branch in Jersey and a representative office in London. By the end of March 2015, the total assets of ADCB amounted to AED 207 billion.
ADCB is a full-service commercial bank that offers a wide range of products and services including retail banking, wealth management, private banking, corporate banking, commercial banking, cash management, investment banking, corporate finance, foreign exchange, interest rate, currency derivatives, Islamic products, project finance and property management services.
ADCB is 58.08% owned by Abu Dhabi Investment Council, the investment arm of the Government of Abu Dhabi. The banks shares are traded on the Abu Dhabi Securities Exchange. By the end of March 2015, excluding treasury shares, ADCBs market capitalization was AED 34 bn .