AVP AML CTF

JOB PURPOSE:

To ensure that the activities of FAB KSA are carried out in accordance with the authorized activities licensed by the governing authorities / regulators; This will include applying best international practices regarding AML/CTF and safeguarding the bank’s reputation by complying to the applicable laws and regulations.

KEY ACCOUNTABILITIES:

• Participate in the country’s self-assessment process, which will involve participating in the formal reviews of the results of the self-assessment process.
• Handling Anti-commercial concealment role which is under the AML function to combating commercial concealment as required by SAMA and ensure implementation of necessary controls and scenarios.
• Assist in periodic review of the AML/CTF scenarios and controls and ensure it up to date with any new developments.
• Conducting System testing for any upgrade related to AML/CTF systems.
• Update FAB KSA management on any changes in regulations and/or important Group Compliance requirements.
• Issue recommendations to Local Compliance Management where necessary to enhance Financial Crime related controls, systems, policies and procedures.
• Conduct Monitoring and Testing activities on Bank’s various areas on a Risk Based approach to test controls and abidance by difference Compliance requirements. Furthermore, issue findings with deficiencies and follow up until full rectification.
• Assist on providing AML/CTF face to face training.
• Reviewing the “Know Your Customer” (KYC) processes and procedures with the objective of ensuring consistency with related local and Group requirements.
• Generating and Monitoring reports generated from the bank AML system to monitor customers’ transactions to detect unusual or potential suspicious activity.
• Handling and treating alerts generated for sanctions and AML.
• Handling and treating SAMANET requests related to the AML List.
• Preparing detailed studies on suspicious accounts, escalating and/or reporting issues through formal and regular channels as appropriate to the local Compliance Management.
• Tracking responses and commitments made to regulators, whether as part of an examination process or other communication.
• Tracking SAMA observations related to AML/CTF and ensure closure within the timeline.
• Ensure Bank staff awareness with respect to Compliance & AML/CTF matters is up to the needed standards and in line with Group requirements.
• Provide advice to business on an ongoing basis. This involves responding to questions and issues as they arise and proactively keeping business units apprised of regulatory developments and bank’s policy changes.
• Assist in reviewing new products and services and ensure all necessary controls from financial crime perspective are in place.
• Maintain a regulatory reference library including current laws and regulations relevant to the Bank for reference, and ensure the staff is always kept informed.
• Conduct internal inquiries and investigations by coordinating as appropriate with the Legal Department and other control areas, into possible violations of rules, regulations and bank’s policies. These inquiries and investigations may arise from information gathered by the Compliance Department (through monitoring), be referred from business units or other areas of the bank, or result from reviewing regulatory inquiries, reports or otherwise.
• Investigate Reported cases for illegal & unethical practices and recommend appropriate actions.

QUALIFICATIONS & EXPERIENCE:

• Appropriate Qualifications from a recognised University
• Awareness and knowledge of international best practice in relation to AML and Compliance policies and procedures
• Good knowledge of the regulator roles and regulatory requirements
• Relevant Professional Qualifications, particularly AML
• Enjoying an independent character enabling him/ her to perform his task objectively.
• Enjoys good communication skills enabling him/her to receive from all bank's units any reported cases and deal with them immediately
• Fluent in Arabic and English.
• Must be a Saudi National