AVP- Compliance Advisory

Job Description

AVP- Compliance Advisory

Full-time Sub Division: Compliance – Consumer & Private Banking Division: Compliance

Company Description

Job Description

JOB PURPOSE:

To support the Group Consumer Banking ( CBG ) Compliance Team, provide Compliance advisory to CBG Products, Wallets, Digital, S&D, Elite, Card& Dubai First and FAB Islamic on all compliance related queries, and act as SPOC compliance person for these business units including escalations related matters.

KEY ACCOUNTABILITIES:

Generic Accountability

Policies, Systems, Process & Procedures

Support the Business Units to adhere to Group Compliance policies, procedures and processes.

Continuous Improvement

Identify opportunities for continuous improvements to related systems, processes and practices based on risks and control deficiencies identified.

Reporting

Provide guidelines to the Technology, Data & Reporting Team on KPI’s and KRIs for reporting to senior stakeholders. Prepare MI related to CBG for reports to the CBUAE, and other regulators as and when required.

Group CBG Advisory and Administration

Provide Compliance advice to internal and external (Group wide) stakeholders as required. Develop and strengthen relationships to promote best practice and ensure a good understanding of Compliance requirements across CBG. Provide advice for the CBG new policy, procedures, and process. Provide advice for the CBG product review process and financial promotions. Advise Business Units with technical insights and build credibility based on an understanding of their challenges related to products, customers and transactions. Provide updates to CBG business on compliance requirements, best practices, market news, international regulations, hot topics and regulatory changes. Support the Business Units during CBUAE audits and in responding to adhoc requested from CBUAE. Coordinate with Regulatory Compliance and FCC functions to provide recommendations on compliance risks as and when needed; otherwise, advise Regulatory Compliance and FCC functions on decisions being made Connect requestors to Compliance colleagues to obtain approvals (where required), track and maintain records of decisions for the business unit. Review account closures following decision to exit for Compliance reasons. Provide support in breach handling and breach reporting.

Generic

Track progress on implementation of Internal Audit and Compliance Monitoring recommendations for the CBG Compliance Team. Support in execution and program management of financial crime related projects as per the project guidelines set by the Compliance Governance Department.
Specific Accountability – Provide compliance support in consultation with VP Compliance – Mass Products, Payments, Digital, Dubai First & FAB Islamic, to the areas under coverage which are –
CBG Products Cards & Dubai First Wallets Digital Banking FAB Islamic & NHL Sales & Distributions (S&D) Elite

Specific Accountability.

Act as the first point of contact within the compliance function for the CBG Products, Wallets, Digital, Cards& Dubai First, FAB Islamic & NHL, S&D and Elite within CBG Compliance. Support the Business Units, specifically the CBG Products, Wallets, Digital, Cards& Dubai First, FAB Islamic & NHL, S&D and Elite within CBG Compliance teams to adhere to Group Compliance policies, procedures, and processes. Provide Compliance advice to the CBG business units in a timely manner. Develop, strengthen, and manage relationships with the CBG business units to promote best practice and ensure a good understanding of Compliance requirements. Provide Compliance feedback to the CBG business units regarding changes in their business SOPs or products in line with compliance requirements. Attend periodic compliance-business meetings with the heads of the CBG business units to discuss compliance related matters and concerns. Assist in conducting compliance awareness and training sessions for staff of the CBG business units on a periodic basis and in line with the function’s training plan. Understand the end-to-end processes of the CBG business units, highlight possible compliance related concerns, and assist the teams to mitigate these concerns. EWRA: Assist in the rollout and follow-up of the EWRA. Risk and control self-assessment (RCSA): Assist in the rollout and follow-up of the RCSA. Audit Issues: Follow up on audit issues related to Compliance (Internal / External). Review new Products Programs, Policies, Procedures and other governance documents and provide Compliance recommendation to business. Escalate to SVP Compliance as and when required. Acts as a Subject Matter Expert (SME) for the CBG business units, provides them with the Compliance advice on both Regulatory Compliance (RC) and Financial Crime Compliance (FCC) risks associated with all of business new initiatives, new products & new projects. Escalate to VP Compliance as and when required.

Qualifications

Minimum Qualification:

Must have bachelor’s degree. Desirable: Chartered Accountant/ master’s in business administration (MBA) or any other relevant finance degree or diploma. Any other compliance qualification and accreditation obtained from the reputable institutions such as ICA, ACAMS, CISI etc.

Minimum Experience:

At least 10 years of business experience preferably in Compliance and/or Audit in Banks and Financial Institutions. Should possess an excellent understanding of UAE Federal Laws, CBUAE regulations and knowledge in regional international laws and regulations pertaining to securities.

Required Skills:

Should be able to generate ideas, think creatively, develop innovative solutions, and build effective business relationships quickly. Should be a Team player, able to meet tight deadlines and manage a challenging workload. Should be fluent in speaking and writing in English. Should be focused on driving tasks to completion with pace, whilst retaining a high level of attention to detail and accuracy. Should be discrete and have a sense of integrity and handle sensitive information with absolute confidentiality.

Job Location

AVP- Compliance Advisory
First Abu Dhabi Bank (FAB) Al Qurm Business Park, Abu Dhabi, United Arab Emirates * Full-time