Commercial Bank of Dubai (CBD)
Job description / Role
– The role holder is responsible for owning, managing and optimizing the Financial Crime Systems in Compliance as well as providing subject matter expertise to system control and compliance issues.
– Day-to-day management and ownership of key compliance systems including transaction monitoring, customer screening and payment screening.
– Work closely with the AML and Sanctions teams to write rules, tune and optimize system filters to reduce false positives.
– Conduct regular testing of systems and tools to ensure the completeness and accuracy of transaction data from primary source systems to Financial Crime systems.
– Manage upgrades and enhancements for the financial crime systems.
– Identification and escalation of system control and compliance issues, assess and document the related risk, and make recommendations for resolution.
– Perform proactive data analytics work and manage the data quality and integrity in the systems
– Ensure our systems are compliant with applicable UAE laws and regulations, industry best practices and recommendations from respected third parties such as FATF and Wolfsberg.
– Propose enhancements to the systems used by Compliance to generate efficiencies and/ or improve our financial crime risk management.
– Provide the Head of Compliance with assurance that system controls are operating effectively
– Provide regular reporting and management information relating to system performance and efficiency for senior management and relevant governance committees.
– Assess the effectiveness of the parameters set up in the systems for sanctions screening and the percentage for matching dependent on the type of screening conducted.
– Ensure that all customers and transactions are subject to sanctions screening.
– Manage the implementation of the new Sanctions systems – including designing and developing rules that are fit-for purpose and define system requirements, parameters, scenarios, logic and underlying rules.
– Provide updates to Senior Management on external events or regulatory changes affecting monitoring and screening.
– Provide guidance to the AML and Sanctions Officers on interpreting system output to aid their investigations.
– Manage the resources efficiently and prioritize system enhancement/up-grades.