Commercial Bank of Dubai (CBD)
Job description / Role
Job purpose:
– Review the AML/CFT alerts which have been escalated for further investigation and report to the MLRO or Deputy MLRO those genuine cases for which it should be considered whether the Bank need to file a Suspicious Transaction Report (STR) to the UAE Central Bank’s Financial Intelligence Unit (FIU).
– Document and complete the process to report STRs to the UAE Central Bank’s FIU once the decision has been taken by the MLRO or Deputy MLRO
Principal accountabilities:
– Conduct an in-depth investigation as per the Bank’s internal procedures of those alerts which have been escalated as unusual transactions and need to be further reviewed to determine whether they should be reported to the Bank’s MLRO or DMLRO. The MLRO or DMLRO would then decide whether to report it as a money laundering suspicious activity to the UAE Central Bank’s Financial Intelligence Unit (FIU).
– Document the rationale and analysis of the review conducted by the role holder to justify the closure or escalation of the alert.
– Document and complete the process as per the Bank’s internal procedures to report STRs to the UAE Central Bank’s FIU once the decision has been taken by the Bank’s MLRO or Deputy MLRO.
– Review responses received from the UAE Central Bank’s FIU on the STRs submitted and inform the MLRO or DMLRO accordingly in order to define an action plan to comply with the notified regulatory requirements.
