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- The primary responsibility of the role is ensuring whether regulatory requirements pertaining to client acceptance and client profiling are met across the bank divisions. It includes providing assistance to the Head of Due Diligence in development of policies and procedures related to the function, enforcement procedures to mitigate risk and increase control efficiency in order to protect DIB from a risk of possible solicitation of any relationships with Known Money Launderers, Terrorists, Drug Traffickers, Financial Criminals and sanctioned entities/individuals.
- Encourage and train the team to liaise with concerned support functions within DIB, IT, COD etc to resolve day to day issues encountered with system related / operational issues
- Provide consistent and quality advice to businesses on issues pertaining to client profiling, risk classification, high risk geographical areas, as well as on increased risk and unacceptable risk business and countries
- Supervise and review team performance to ensure effective and efficient responses provided for complex queries raised by business, advice on closures of complex Name filtration cases, supervises the training sessions, provide training to EDD team on best practices to be implemented.
- Maintain general awareness on policies across branches and ensure that EDD requirements are embedded as part of the operational procedure.
- Promoting staff awareness with applicable regulations on Compliance/EDD requirement.
- Generate regular compliance reports for Senior Management to review the overall efficiency of the organization (pertaining to EDD function) and enhance internal control.
- Applies recommended methodology to conduct Enhanced Due Diligence for new and existing client base
- Participates and provides support and advice in day to day activities and cases of the Due Diligence team.
- Demonstrates working experience in preparing/updating Policies and Procedures pertaining to the area of Due Diligence
Qualification & Experience:
- Minimum 10 years of banking experience with extensive knowledge of banking products and should have at least 8 years of experience in Compliance specifically in KYC and Due Diligence, including 5-6 years of Managerial position
- Bachelor’s Degree and or Professional qualifications in Risk & Control professions, i.e., Audit, Compliance etc.
Company: Dubai Islamic Bank
Vacancy Type: Full-time
Job Functions: Other
Job Location: Dubai, United Arab Emirates
Application Deadline: N/A