Manager, KYC Review And Approval
Job summary / Introduction
In accordance with UAE and international anti-money laundering requirements, banks such as FAB are obliged to perform know-your-client (KYC) reviews on all new clients they adopt and periodic reviews of these clients.
To perform duties as required in the KYC & onboarding FI function. The centralized team will perform the client onboarding approval role. This can be either new onboarding, trigger events, or periodic reviews. It will ensure the documentary evidence meets internal guidelines and regulatory expectations. Additionally, adherence to group KYC standards needs to be enforced.
Key responsibilities
Manage approval process for new to bank client onboarding process along with periodic & trigger reviews in liaison with all stakeholders.
Ensure all clients are onboarded within the onboarding timelines agreed. Main stakeholders are clients, coverage bankers (region / global), KYC operations team, compliance, offshore support team.
Proven business and operational experience with sound knowledge of the wide range and complex variety of funds, brokers, money services business, loans & agencies, non-banking financial institutions and correspondent banks.
Review account opening forms / MT 199 or 299 swift message for all new business where applicable.
Be aware of the strategic clients and their longer-term requirements by engaging with the coverage bankers when they undertake the business case and client selection process.
Always ensure adherence to all internal policies / procedures and external regulatory requirements.
Previous experience on handling post facto transaction review for all correspondent banking clients and knowledge of key principles like nesting & downstream activities will be an added advantage.
Perform independent analysis of high-risk factors and as an outcome of key risk indicators escalate the relevant case to financial crime compliance teams (FCC).
Prioritization - maintain the discipline in partnership with the local business.
Communicate consistency to internal and external stakeholders to ensure that the cases are accepted through the approved channels and expectations are managed appropriately.
Review questionnaires such as Wolfsberg, AML & sanctions appropriately.
Relationship management
Develop and manage relationships with corporate and investment banking stakeholders across business lines and supporting functions.
Undertake strong support and communication with both internal & external clients to facilitate efficient client onboarding & offboarding.
Deliver fair outcomes for our customers and ensure own conduct maintains the orderly and transparent operation of financial markets.
Reporting
Ensure information for MI related to corporate and investment banking segment, for onboarding & KYC is prepared and presented on a periodic basis.
Ensure exceptions are updated in CDD exception tracker and tracked to resolution. Tracker to be circulated to relevant stakeholders on a monthly basis.
Monitor monthly KYC KRI / KPI reports.
Interact with other stakeholders and help the KYC teams achieve KRI's / KPI's.
Requirements / Qualifications
Minimum qualification
Bachelor's degree or higher in management, banking, finance.
Preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management (will be added advantage).
Minimum of 5 years of experience in a reputable international bank.
Minimum of 5 years of experience within an onboarding, KYC or compliance function.
Relevant experience (AML/KYC/compliance related) with understanding of financial institutions KYC requirements.
Familiarity with AML/KYC regulations and industry guidelines, along with client structure and hierarchies, knowledge of funds, brokers, loan agencies & correspondent banks.
Experience operating in a global regulatory environment.
Microsoft application knowledge.
Pro-active and business oriented with proven ability to prioritize, manage conflicting demands and ability to assess.
Preferred / Beneficial
Preferably with certification in compliance, KYC/AML/CFT, financial crime or risk management (will be added advantage).
Previous experience on handling post facto transaction review for all correspondent banking clients and knowledge of key principles like nesting & downstream activities will be an added advantage.
Skills
KYC
AML
CFT
Compliance
Financial crime
Risk management
Client onboarding
Periodic reviews
Trigger reviews
Financial institutions KYC requirements
Wolfsberg questionnaires
AML & sanctions reviews
Correspondent banking
Funds
Brokers
Money services business
Loans & agencies
Non-banking financial institutions
Regulatory compliance
Financial crime compliance (FCC)
Stakeholder management
Relationship management
MI reporting
KRI / KPI monitoring
Microsoft applications
Client structure and hierarchies
Global regulatory environment
Prioritization
Risk assessment
Communication
Operational support
About us
First Abu Dhabi Bank (FAB) is the largest bank in the UAE and one of the world's largest and safest financial institutions. We offer a comprehensive range of personal and private banking services, including credit cards, Islamic banking, investments, loans, and mortgages. Our commitment to excellence and innovation drives us to provide top-tier financial solutions to our clients.
Life at FAB
Working at FAB means being part of a team of talented and passionate individuals with a shared vision to support the ambitions of our stakeholders to Grow Stronger . We embrace the needs of our customers across the globe with a sense of responsibility and confidence driven by extensive expertise that can only be delivered by an ambitious world-class organization.
Career development
FAB offers unique career choices, a chance to innovate, craft solutions for the future, and express yourself in a performance-based culture that will unleash the best in you. Whether you are an experienced professional or just starting your career, FAB provides a range of learning and development initiatives to support all employees through training and skill development.
Our values
At FAB, we place our customers at the core of our activities, live our values each day in every way, celebrate achievements, and empower each other to deliver leading solutions. We have structured plans for the recruitment and career progression of Emirati talent to enable them to make a mark in the financial and banking sector both regionally and globally that rewards your hard work and dedication.
Join our team and be part of a journey to shape the future of banking.