Assistant Manager AML Investigations Commercial Bank of Dubai

  • Full time
  • Dubai, UAE
  • Posted 2 weeks ago
  • 10000-22000 AED / Month

Commercial Bank of Dubai

Assistant Manager AML Investigations at Commercial Bank of Dubai  is responsible for managing the Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT) level 2 as well as providing subject matter expertise to senior management and business units. This is an intermediate level and full time role and for this job salary ranges from 10000 AED to 22000 AED.

Responsibilities of Assistant Manager AML Investigations

  • Conduct an in-depth investigation as per the bank’s internal procedures of those alerts which have been escalated as unusual transactions and need to be further reviewed to determine whether they should be reported to the MLRO/DMLRO who would then decide whether to report it as a money laundering suspicious transaction/activity to the UAE Central Bank’s Financial Intelligence Unit (FIU).
  • Receive and assign the transactions or activities which have been internally reported as suspicious by the Bank staff to the level 2 team.
  • Document the rationale and analysis of the review conducted by the level 2 to justify the closure or escalation of the case.
  • Oversee the investigations of the more complex investigations which may originate from Senior Management, Whistleblowing or from data analytics, etc.
  • Reviewing all cases generated by AML Level 2, providing case advisory to the team members, concluding the case, and taking decisions.
  • Reviewing staff alerts and closing them within the TAT.
  • Work closely with the AML Manager to assist with day-to-day functions related to the AML Transactions Monitoring
  • Align with business on any matters escalated and provide necessary support.
  • Review retention cases and take a decision prior to the to the last decision by MLRO or DMLRO
  • Provide advice and guidance to all business lines on AML/CFT related issues.
  • Support the team by reviewing suspicious cases when the volume is higher than the average or when there are staffing constraints that would limit the team’s capacity.
  • Log and escalate all AML/CFT breaches or potential breaches.
  • Manage the available resources efficiently and prioritize system enhancement/up-grades.

Requirements of Assistant Manager AML Investigations

  • Bachelor’s Degree
  • CAMS or ICA or CFCS or CRCMP or any other related certificate is preferred.
  • At least 6+ years of experience in the banking/financial services sector (at least three in an AML/CFT Compliance role).

Skills and Knowledge Desired

  • Well versed with banking systems, concepts and banking best practices
  • Good understanding and awareness of financial crime regulatory requirements and international best practice.
  • Experience in analyzing and interpreting relevant regulations and regulatory requirements.
  • Analytical and attention to detail.
  • Problem identification and solving skills.
  • Good written and oral communication.
  • Management skills: ability to lead a team and manage performance.

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