Description
Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.
CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.
As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers - and delivering service that really goes the extra mile.
The role holder is responsible for investigating and preparing STR/SAR reports which have been escalated by various relevant stakeholders. Prepare STR/SAR reports and complete the process to report STRs to the FIU once the decision has been taken by the DMLRO or MLRO.
Responsibilities:
- Conduct an in-depth investigation as per the bank’s internal procedures against cases received from various relevant stakeholders which have been escalated as unusual transactions or activities which requires further investigation to prepare SAR/STR in order to be submitted to the Financial Intelligence Unit (FIU).
- Support the AML/CFT Investigation team by reviewing suspicious alerts generated by the Bank’s transactions monitoring system when the volume of alerts is higher than the average or when there are staffing constraints that would limit the team’s capacity.
- Receive and review the transactions or activities which have been internally reported as suspicious by the Bank staff. If required, the case should be escalated to the DMLRO who will then perform an enhanced investigation to determine whether it should be reported.
- 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 DMLRO or MLRO.
- Interact with business units regarding unusual activities to determine if an appropriate resolution can be reached. The role holder should escalate matters in a timely manner.
- Maintain and update MIS and monthly reconciliation.
- Review responses received from the UAE Central Bank's FIU on the STRs submitted and inform the by DMLRO or MLRO accordingly in order to define an action plan to comply with the notified regulatory requirements
- Support the DMLRO and act as a backup for the team whenever required
Requirements
Qualifications:
- Bachelor's Degree as a minimum from a recognized university.
Experience:
- Must have a background in investigations and a good understanding of AML Red flags.
- Well versed with banking systems, concepts and banking best practices
- At least 3+ years of experience in the banking/financial services sector.
Skills:
- Good command of English and Arabic language preferred Analytical and attention to detail.
- Understanding of account opening process, payment, and card transactions
- Problem identification and solving skills.
- Report writing skills
- Analytical skills
Competencies:
- Team player
- Taking initiative
- Motivated and positive. Assertive and confident.
