FIB AML Compliance Officer

Role Purpose:

Oversee internal anti-money laundering policies and review client transactions to detect and report unusual transactions so that the company is compliant with financial regulations.

Role Responsibilities (including but not limited to):

• Comply, implement and execute all the FRA requirements stated in its circulars related to the AML role.
• Perform the due diligence on new clients requesting the KYC information, documentation, review and verification of received documentation and make an analytical risk assessment for new clients.
• Screen the new & existing clients against the negative lists from the FRA and MCLU.
• Document the research and analysis related to the financial activity and related entities of clients, for an audience that includes Management, Regulators, Internal Audit, Senior Managers, and Internal Compliance.
• Liaise with the Head of Compliance to ensure proper implementation of policies.
• Periodical review of KYC record, including verifying that due diligence has been performed and that due diligence standards are complied with; also, that the files and risk assessments are current and up to date.
• Investigate high risk clients and report where necessary, including Politically Exposed Persons, and obtain all necessary documentation to complete the client file.
• Perform further investigation on identified suspicious client and client transactions and report to Head of Compliance.
• Oversee and implement an ongoing AML training program for other employees.
• Brief and report to senior management on matters relating to internal AML compliance policies and procedures.
• Hold all the legal records relating to AML which are predefined by FRA and make sure that it’s always up to date in accordance with FRA requirements.

Qualifications:

• Bachelor’s degree in accounting, Finance, Economics, Law or any other relevant discipline.
• Anti-Money Laundering Certification is preferred.

Experience:

• 3 to 5 years of experience in a similar role.
• Prior experience in investment banking or financial management.
• Previous knowledge in conducting transaction monitoring reviews, deep investigations, and reporting suspicious activity related to money laundering and terrorist financing.
• Experience with KYC & AML metrics reporting and transactions monitoring and screening.
• Obtain a good understanding of due diligence regulations, policies, and procedures.

Job-Specific Skills:

• The ability to read and interpret documents of government regulations, internal controls, and instruction manuals.
• Maintenance of discretion in handling confidential information.
• Interaction with team members at all levels of the organization professionally, including the ability to speak in front of groups.
• Excellent communication skills in both Arabic & English languages, both verbal and written.
• Exceptional analytical and investigation skills.
• Strong project management skills.
• Strong research and analytical skills

Core Competencies:

Initiative & Problem Solving:

• Makes suggestions to improve quality to work processes
• Is open to new ideas and asks questions to confirm understanding
• Willingly puts in extra time and effort in crisis situations; goes the “extra mile” to ensure the goal is met

Adaptability & Flexibility:

• Responds positively to change, trying new ways to accomplish goals and solve problems
• Demonstrates openness to changing work priorities and deadlines
• Seeks the opinions and experiences of others to understand different approaches to work
• Adapts own behavior to meet the needs of different people and circumstances

Working with Others:

• Treats others with courtesy and respect regardless of work pressures
• Supports colleagues when they are under pressure
• Recognizes impact of own self on the overall team performance and actively seeks to engage with them
• Builds rapport quickly with people at all levels and from different backgrounds

Effective Communication:

• Shares information and knowledge
• Updates colleagues and supervisors on project/task status
• Listens to understand, seeks input from others and clarification where necessary

Job Specific Competencies:

Manage Compliance Risks

• Effectively monitor and apply best practices of internal controls
• Identifies and manages risk appropriately

Adherence and Awareness with Laws and Regulations

• Demonstrates basic understanding of the relevant rules and regulations
• Follows all governmental and regulatory policies and procedures
• Identifies and collects all relevant facts, through interviews or examining documents
• Identifies the internal and external rules and regulations that affect own work