Manager – Sanctions (AML-CFT)

Job Purpose   

To streamline and strengthen the operations of the department, to mitigate legal, financial, and reputational risks associated with non-compliance with sanctions regulations. Play a crucial role in promoting global security and preventing illicit activities, such as terrorism financing, money laundering, and proliferation of weapons of mass destruction.

Main Tasks & Responsibilities

• Assist in formulating, implementing and maintaining Sanction related policies and procedures throughout the Bank.
• Assist in identifying, assessing and managing the sanction risks associated with Bank’s operations, products and business activities.
• Perform day-to-day activities and task of monitoring banks high-risk transactions for the purpose of combating money laundering and terrorist financing.
• Ensuring compliance with domestic and international laws, regulations, and policies related to sanctions, embargoes, and other trade restrictions.
• Developing and implementing effective screening processes and procedures to identify individuals, organizations, and entities that may be subject to sanctions. This may involve conducting background checks, reviewing transactional data, and utilizing screening software or databases.
• Evaluating the risk associated with engaging with individuals or entities subject to sanctions and determining appropriate actions based on the level of risk involved.
• Maintaining accurate records of screening activities, documenting findings, and preparing reports for internal and external stakeholders, including regulatory authorities.
• Coordinating with internal departments, such as Financial Institution, Treasury, Corporate, to ensure effective communication and information sharing regarding sanction-related matters.
• Investigating sanctions hits, creating, and delivering Sanctions Screening Reports to Line Manager.
• Consult with and advice branches and other operating units about Sanction AML and KYC compliance related issues.
• Assisting in preparing written guidance to staff members and operating/business units on the appropriate implementation of applicable laws and regulations.
• Establish and maintain appropriate risk-based AML/CTF sanction screening processes that are proportionate to the scale, nature and complexity of the Bank’s operations.
• Keep up to date with new Anti-Money Laundering requirement and sanctions updates developments and international best practices to ensure applicability wherever possible.
• Maintenance of updated information of entities/individuals on restricted list of UN, OFAC, etc., in connections with AML/CTF verification regarding existence of such account in the branches books.
• Monitor ongoing activities, transactions, AML compliance, and report findings to Manager Compliance AML/CTF
• Coordinate, liaise and resolve with the branches and operating units all queries related to AML CFT sanction program and report unresolved matters and/or any significant findings to the Line Manager.
• Assist the Line Manager in developing, implementing and maintain an effective Sanction program and framework
• Monitor cross boarder high-risk transaction and verify supported document provided and.
• Ensure screening all involved parties and intermediary banks against the sanction list screening tools and discuss the same with line Manager prior approval.
• Report to line Manager all finding prior taking an action regarding to high risk transactions and sanction Issues.
• Assist in preparing and updating AML/CFT & KYC questionnaires and screening Major shareholders, Executive managements and financial institutions name.
• Assist Line Manger and/or Head of Compliance on any tasks/matters assigned by them.