Transaction Monitoring Officer Dubai Islamic Bank

Dubai Islamic Bank is presently accepting applications from suitable candidate for the job role of Transaction Monitoring Officer. The job holder is responsible to monitor and analyze banking transactions for any suspicious activities to ensure compliance with regulatory requirements and prevent financial fraud at Dubai Islamic Bank.

Responsibilities of Transaction Monitoring Officer

AML Monitoring

• Analyze the transaction filtering / monitoring (AML) alerts within turnaround time, including communication of AML low risk alerts to relevant business segments. Closing alerts based on Business feedback.
• Conduct preliminary investigations on AML alerts for suspicious transaction activity and concluding the alert with proper comments / justification / customer profile.
• If required, create cases for suspicious AML alerts, raise query to business and maintain proper follow-up, until the case is concluded.
• Escalate unresolved AML alerts and cases to AML Management within the defined timelines.
• To be able to draft SARs to the regulators.
• To conduct AML investigation for cases forwarded by different departments / correspondent banks / Regulator.

Swift & Non Swift

• Analyze and respond to SWIFT and Non SWIFT (WU, INR, etc.) alerts, based on name screening in the system, within the required timelines.
• Analyze and communicate any unusual remittances, while performing SWIFT and Non-SWIFT related payment messages and raise issues accordingly.
• To be able to work on late shifts and report to office on Saturdays (as per swift roaster).
• In exception cases, may report to office on off days for handling urgent / critical / essential swift transactions.

Other Activities of Transaction Monitoring Officer

• To be able to complete the assigned task within the deadline and to put extra manning hours, whenever required.
• Maintain and update proper log, follow ups, preparing MIS of pending AML alerts, swift, queries or other activities for AML Management reporting.
• Provide suggestion for enhancement of AML / Sanction screening or other compliance related systems and processes. In addition being involved in necessary UATs.
• To be able to support the unit in terms of providing Backups, as and when required.

Role Requirements

The requirements for the job role of Transaction Monitoring Officer are as under:

• A Bachelor’s degree in a relevant field like Accounting, Finance, Business Administration, or Law.
• 3 years of experience in similar role.

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