Sanctions Manager, Abu Dhabi Commercial Bank

Abu Dhabi Commercial Bank presently has an opening for experienced and dedicated candidates for the job role of a Sanctions Manager. The selected aspirant will ensure effective time management in line with the bank’s people management policies, procedures, processes and practices to ensure adherence and to maximise own contribution to business. This job has recently been published by ADCB and interested aspirant can apply for this position.

Purpose of A Sanctions Manager

Responsible for ensuring compliance with international sanctions regulations to mitigate legal and financial risks for the organization.

Duties of A Sanctions Manager

Client On boarding Sanctions Reviews

• To receive and review account opening/know your customer (KYC) escalations related to potential sanctions risks.
• Work with applicable business units including vigilance and control teams to ensure appropriate information sourcing and risk identification.
• Document decisions for reviewed clients and provide advisory for sanctions risks referred by various business units and provide final approvals for all escalated cases.

Sanctions Investigations & Reviews

• Investigate for potential sanctions risks, collect documentary proof, build/maintain case files for transactions and customers deemed suspicious.
• Ensure the update of relevant MIS to ensure accurate tracking and record keeping.
• Identify and mitigate sanctions risks by taking decisions on the applicable high risk sanctions cases, update internal watch-lists, and ensure required actions are taken in as per the applicable SOP and regulatory requirement.

External Correspondence and Reporting

• Review and report on approved suspicious transaction reports (STRs), action and submit responses to UAE Central Bank on STRs, PNMR, HRC and other applicable reports.
• Assist with addressing queries from corresponding banks relating to sanctions risks.
• Ensure freezing of funds and blocking of accounts upon the identification of sanctions risks and subsequent approval from the line manager.

Customer De-Risking

• Identify, freeze and exit customer relationships in line with defined Policy, SOP and regulatory requirements. Identify reporting requirements and sure submission and completion of these requirements.
• Ensure the update of the appropriate MIS to ensure effective tracking and monitoring of all exited and or frozen accounts.

Compliance Project Support

• Support and/or manage projects arising out of changes in regulations in order to ensure remedial actions are completed to fulfil regulatory requirements.

Advice and Guidance

• Act as a subject matter expert to bank employees, providing guidance advice on all sanctions related cases including what actions to take when dealing with high risk accounts and transactions.

Qualification and Experience

• Bachelor’s Degree in Commerce or Business Administration.
• Professional qualifications from ACAMS, ACSS.
• At least 6-8 years of experience in sanctions compliance, exposure to Financial Crime or AML is beneficial.

Knowledge & Skills Desired

• Microsoft Office (Word, Excel, Outlook and PowerPoint).
• Knowledge of customer transactions and behaviours.
• Excellent understanding of banking transactions.
• Understanding of local/International and central bank rules and regulatory requirements specific to Sanctions.
• Understanding of banking systems, reports and workflows.
• Excellent Geographical knowledge and understanding.

Manager Business Support, Abu Dhabi Commercial Bank