Senior Manager – AML Governance (Arabic Speaker) – Commercial Bank

Company: Full Time Jobs in Qatar
  • Location: Doha, Qatar View on Map
  • Date Posted: November 20, 2022
  • Salary: Negotiable
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About the job

Job Purpose:

Responsible to contribute, manage and lead the AML Governance team, which is functionally responsible for key AML/CFT areas, including but not limited to:

  • Review and investigate suspicious transactions escalated by AML Operations to Level 3 due to potential risk of Money Laundering (ML), Terrorist Financing (TF) and Proliferation of Weapons of Mass Destruction (PWMD);
  • Review customers’ unusual and/or suspicious activity escalated by businesses via internal STR channel;
  • Prepare and file suspicious transactions reports (STRs) with the Qatar Financial Information Unit (QFIU) with valid justification and supporting documentation, and responding to their subsequent inquiries;
  • Review Enhanced Due Diligence (EDD) for High Risk customers (including PEPs) completed by businesses and approve onboarding of High Risk customers;
  • Prepare and submit periodic AML/CFT regulatory reporting to Qatar Central Bank, such as QANNASS report etc.
  • Conduct periodic enterprise-wide AML/CFT business risk assessment (BRA) and ongoing AML/CFT product risk assessments (PRA);
  • Development, testing and fine tuning of AML transaction monitoring scenarios;
  • Provide strategic oversight of and guidance on the following AML/CFT processes in the bank: (i) customer risk assessment; (ii) customer due diligence / ongoing due diligence; (iii) transactions monitoring and investigation; (iv) implementation of targeted financial sanctions related to PWMD and TF; and (v) business and product risk assessment;
  • Provide appropriate and timely advice on AML/CFT matters to the 1LOD (Business and AML Operations) within the Bank;
  • Develop AML/CFT training materials and conduct the necessary ad hoc AML/CFT training for the 1LOD (Business and AML Operations) within the Bank to help them meet their regulatory obligations and to mitigate the risk of ML/TF in the bank;

This role will act as DMLRO that involves providing certain back up support functions to the Bank’s MLRO in his/her absence.

Responsibilities:

The key accountabilities/ responsibilities of the underlying role include but not limited to:

  • Organize and supervise the activities and work of subordinates (AML Governance team) to ensure that all work within a specific area of the activity is carried out in an efficient manner which is consistent with operating procedures and policy.
  • Develop, maintain and update the Bank’s operating procedures in the area of AML/CFT and direct the implementation of related processes and controls, so that all AML/CFT activities are conducted in compliance with the approved procedures.
  • Provide strong oversight of the AML/CFT transaction monitoring process (by the AML Governance team) to ensure that all detected unusual and/or suspicious activities are being investigated and reported in line with applicable AML regulations in order to protect the interests of the Bank from regulatory criticism, financial penalties and reputational damage.
  • Provide a constructive feedback to subordinates on the improvement of the quality of suspicious transactions reports (STRs) filed with the QFIU.
  • Provide oversight on the progress of OCDD and event driven reviews of CDD conducted by business including the review of account activities of High Risk customers.
  • Review all cases to be presented to Exit Committee (primarily due to STRs filed on a customer or a customer was carrying out business activities in his/her person account or customer was involved in unauthorized trade of crypto-assets or crypto-currency) and provide constructive feedback re materiality of risk should such customers are not exited from the Bank.
  • Provide an effective oversight on the end to end process of approving a high risk customers such as PEP, Cash Intensive businesses, non-resident customers etc.
  • Address all queries from the 1LoD and 2LoD of the Bank regarding applicable AML/CFT requirements to enable them to take appropriate course of action within their units.
  • Provide strong oversight on the execution of account blocking and funds freezing orders received from Public Prosecution Office, NCTC, QCB and QFIU.
  • Ensure timely preparation and submission of the bank’s periodic regulatory reporting to Qatar Central Bank, including quarterly, semi-annual reports and QANNAS report.
  • Ensure that the review of periodic AML reports produced by CBIU (such as high risk Trade Finance transactions, recurring AML withdrawals, recurring salary payments etc.) is being carried out in accordance with the approved logics to detect and report the relevant AML/CFT typologies.
  • Provide strong oversight to ensure that QCB and Audit observations are timely attended and remediated before deadlines;
  • Provide support in the periodic model validation of AML/CFT monitoring system to ensure that AML/CFT monitoring system is operating as per its design and is providing the required result. Model validation of AML/CFT monitoring system may include but not limited to: (i) assessing the efficacy of certain scenarios; (ii) proposing new scenarios to cater new AML/CFT topologies; or (iii) system optimization to reduce false-positive and false-negative hits etc.
  • Participate in the implementation of AML/CFT related initiatives and projects undertaken to optimize the Bank’s AML/CFT programme.
  • Participate and contribute in the bank-wide business risk assessment by working closely with SBUs to obtain data/ information requisite for the assessment of inherent risk and AML/CFT controls’ effectiveness.
  • Provide on-the-job training to subordinates, develop AML/CFT training material and deliver necessary AML/CFT training to subordinates and other related SBUs.
  • Develop and oversee KPIs for AML Governance team to ensure maximum productivity of subordinates.
  • Liaise with QCB/QFIU on AML/CFT & Sanctions related matters and developing a positive rapport with them.
  • Produce the monthly AML/CFT Dashboard and present it to senior management ( Compliance Risk Committee)
  • Deputize for the MLRO and assume his/her responsibilities in case of absence.
  • Act as the point of contact for the Bank’s Internal Audit/ External Audit/ Regulatory Audit on all AML/CFT and Sanctions related matters and respond to them on related action items.
  • Review and approve EDD escalations of High Risk customer, including PEPs, and their periodic assessments as per the approved DOA matrix.

Qualifications/Experience:

Required Qualifications:

  • Bachelor’s or Master’s degree in economics, business, law, accounting or equivalent.
  • CAMS (Certified Anti Money Laundering Specialist) is preferable.

Required Experience:

  • At least 7-8 years of relevant experience in Anti Money Laundering and Sanctions in large international banks, including at least 4 years in positions of progressively increasing supervisory responsibilities in the domain of AML/ CFT

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