Compliance Assurance Officer – Financial Crime Compliance Assurance

Job Description

Manager Compliance Assurance | Mashreq

The Tone:
This is a full-time role at Mashreq, a leading financial institution. This position is critical for developing and maintaining a robust Compliance Assurance framework, ensuring the bank adheres to diverse local and international regulations. The Manager Compliance Assurance provides critical oversight and assurance to senior management, safeguarding the bank against potential investigations, fines, or public scrutiny by regulatory authorities.

The TL;DR
• Role: Full Time
• Team: Reports to Unit Manager/Group Head of Compliance within the Compliance Function.
• Mission: Ensure the effectiveness of the Compliance Program by developing an assurance framework and providing oversight on key compliance risks.
• Tech Stack: Screening Filters, Payment System, Transaction Monitoring System, MS Excel, Compliance systems/applications

What You’ll Actually Do
• Framework Development: Develop and implement an effective independent Quality Assurance framework across the entire Compliance Function, encompassing both head office and international locations.
• Compliance Monitoring: Execute periodic reviews as part of monitoring and testing processes to ensure the Bank’s internal procedures and policies remain compliant with diverse regulations, providing guidance as necessary.
• System Validation: Conduct independent validation of critical Compliance Systems, including Screening, Payment, and Transaction Monitoring systems, to assure their effectiveness.
• Issue Resolution & Tracking: Track the thorough implementation of recommendations and regularization of any identified exceptions resulting from periodic assessments, ensuring continuous improvement.
• Policy & Training Support: Assist Head Office Compliance in the annual review and update of crucial policies like AML/KYC/Sanction and ABC, and liaise with ECFs to incorporate assessment learnings into training materials.
• Strategic Representation: Represent Compliance in various projects as directed by the Unit Manager or Head of Compliance, contributing to the implementation of strategic initiatives.

The Must-Haves
• Background: A university graduate with a senior career level, possessing core domain knowledge in banking and financial crime.
• Experience: Over 10 years of banking experience, including at least 5 years specializing in Financial Crime and Sanctions Compliance, with technical knowledge of screening filters and transaction monitoring systems.
• Skills:
• Regulatory Expertise: Possess in-depth knowledge and understanding of local AML/CFT rules and legislation, alongside international best practices and requirements, including excellent and up-to-date knowledge of International/OFAC/EU/UN Sanctions.
• Analytical Problem Solving: Apply strong analytical thinking and an efficient, logical approach to problem-solving, particularly given the complex and unique nature of customer, country, regulation, or system challenges.
• Operational Awareness: Demonstrate organizational awareness, including a working knowledge of banking risks, products, processes, and controls, with a clear understanding of business transactions and initiatives.
• Technical Proficiency: Exhibit computer literacy and good knowledge of MS Excel, along with experience using Compliance specific systems and applications.
• Communication & Presentation: Command good written and spoken English, coupled with strong presentation skills for effective communication with various stakeholders.
• Bonus: ACAMS certification or other recognized compliance certifications.