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Assistant Manager, Customer Due Diligence
Dubai, United Arab Emirates
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 Assistant Manager will support the Bank’s Financial Crimes Compliance framework by managing and overseeing the KYC / Enhanced Due Diligence (EDD) processes for Financial Institution (FI) and Virtual Asset Service Provider (VASP) relationships. The role will be responsible for conducting detailed due diligence reviews, including sanctions screening, AML risk assessments, and high-level transaction activity reviews at the time of onboarding and periodic KYC refreshes, ensuring compliance with UAE regulatory requirements, internal policies, and international standards.
Responsibilities:
- Manage and perform Customer Due Diligence (CDD) and Enhanced Due Diligence (EDD) for Financial Institutions (FIs) and Virtual Asset Service Providers (VASPs), including Nostro, Vostro, RMA, and NBFIs.
- Conduct reviews aligned with OFAC, UN, EU, UKHMT, and UAE regulations; escalate potential sanctions, proliferation, or terrorist financing risks.
- Perform risk assessments and transaction activity reviews during onboarding and periodic KYC refreshes for FI and VASP customers.
- Liaise with AML monitoring teams to ensure FI and VASP segments are adequately covered in scenario-based monitoring.
- Prepare EDD reports and risk summaries for senior management and committees.
- Collaborate with Relationship Managers, Legal, Sanctions and AML Teams and Operations for holistic risk-based decisions.
- Contribute to the enhancement of internal policies and ensure alignment with CBUAE, ESCA, DFSA, ADGM FSRA, and VARA regulations.
- Provide guidance and training to junior staff and business teams on KYC/EDD, sanctions, and AML controls.
- Contribute to the development and continuous enhancement of policies, procedures, and standards governing FI and VASP KYC/EDD.
- Support implementation of local regulatory requirements (CBUAE, ESCA, DFSA, ADGM FSRA, VARA) and alignment with international best practices.
- Provide training and guidance to junior staff and business teams on KYC/EDD, sanctions, and AML controls for FI and VASP relationships.
- Assist in responding to regulatory inspections, internal audits, and external assurance reviews relating to FI and VASP due diligence.
- Review and support investigations into unusual or suspicious activity for FI and VASP relationships.
- Identify potential sanctions, proliferation financing, and terrorist financing risks, escalating cases where required.
- Assist in periodic risk assessments for FI and VASP segments, ensuring effective risk rating methodology is applied.
Requirements
Job Context:
- Operates within the FCC Due Diligence team, reporting to the Manager/Head of FCC Due Diligence.
- Works in a high-risk, high-regulatory scrutiny environment, especially concerning VASP and FI relationships.
Communication and Relationships:
- Daily interaction with Relationship Managers, AML Monitoring, Sanctions Advisory, Legal, and Operations teams.
- Regular reporting to senior management and compliance committees.
- Collaboration with training and audit teams for policy implementation and review.
- Interface with regulatory bodies (e.g., CBUAE, DFSA, VARA) during inspections or inquiries.
- Engage with correspondent banks and third-party service providers for information gathering and risk validation.
Qualifications and Experience:
- Bachelor’s degree in Finance, Business, Law, or related field; a professional certification such as CAMS, ICA, or ACAMS-CCAS is preferred.
- Minimum 5–7 years of experience in Financial Crime Compliance, with specific exposure to KYC/EDD for Financial Institutions and/or VASPs.
- Strong knowledge of UAE AML/CFT laws and regulations, FATF recommendations, and international sanctions regimes.
- Experience in transaction activity reviews, adverse media research, and sanctions screening.
- Prior experience with UAE or international banks in FI due diligence and compliance advisory roles is highly desirable.
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