Sanctions Manager | UAE

Job Position: Sanctions Manager
Job Description: McGregor Boyall – Dubai – Director – Sanctions Advisory (Reporting to Head – Group Compliance and Group MLRO) JOB PURPOSE To identify sanctions deficiencies, provide sanctions advise and monitor integrity of sanctions lists in payment and screening systems to ensure compliance with regulatory requirements and mitigate sanctions risk for the bank ACCOUNTABILITIES Sanctions Risk Management Review customer accounts and account opening documentation for irregularities and anomalies related to sanctions and handle transactions escalated from screening systems to ensure any sanctions risks are handled according to agreed policies, procedures and guidelines Define and ensure integrity of all Sanctions Lists for payment and on-boarding systems to ensure the bank is not exposed to any risk of dealing with a sanctioned person and/or entity Sanctions Advisory Keep abreast of sanction developments (domestic and international); communicate new developments and provide advice to key stakeholders through development of policies and procedures to ensure any sanctions risk are mitigated Provide sanctions-related training to staff to ensure awareness and promote compliance culture within the bank Lead all sanctions related systems and/or process projects to ensure end-to-end management Sanctions Compliance Review and investigate all breaches, discrepancies and irregular activities, and recommend corrective actions to ensure compliance with the bank’s Sanctions policies/procedures and mitigation of identified risks for the bank Reporting Prepare periodic MIS reports and reports for the UAE Central Bank (CB) on Iran-related transactions to ensure compliance with regulatory requirements Manage external communication with CB and/or correspondent banks to ensure timely responses are provided Escalate sanctions related cases to Group Chief Compliance Officer to ensure awareness and report to CB where necessary Budget Management Contribute to the preparation of the…see more details

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