AVP- KYC

Company Description

FAB, the UAE's largest bank and one of the world's most secure financial institutions, is dedicated to creating value for its employees, customers, shareholders, and communities. Through innovation, agility, and differentiation, FAB is committed to fostering growth.

We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry.

Job Description

Job Purpose:

1. This role is responsible for the daily work of the KYC team, specifically being the main checker for all types of workflows - NTB onboarding or Periodic Reviews or Trigger Event reviews processed by the team. Incumbent is expected to be familiar with processing of all KYC files from all client segments, namely Financial Institutions (Banks and Non-Banks Financial Institutions), Corporate and Private Banking.
2. Subject matter expert on KYC, customer on-boarding matters.
3. The role is the first point of contact for resolution of all queries from front office / clients or other internal stakeholders.
4. The incumbent is designated as the de facto Deputy Head of the Department and steps in during the HOD’s absence.
5. This role requires the incumbent to actively collaborate with Technology and Business partners in all change management activities for the KYC/ Due Diligence/ Static Data team, where he/she is expected to contribute, analyze, review and recommend best practices relating to activities managed by the KYC/ Due Diligence/Static data team.
6. Incumbent is expected to monitor and control operational risk throughout the client lifecycle management process.
7. Ensure that processes are regularly reviewed and improved for changes to the Procedures (Internal) / Regulations so that the organization remains compliant.
8. Active engagement with Auditors, Compliance, Risk groups to manage functional matters.
9. Manage and supervise Junior team members (makers and checkers) to ensure the BAU is run smoothly and adhere to the department procedures.

Key Accountabilities:

• Ensure performance of KYC to cover local regulatory requirements stipulated by Regulators across Asia and in accordance with the bank’s AML and KYC Policies and Procedures. This includes reviewing and checking for completeness of CDD information and supporting documentations (including FATCA and CRS forms) for new and existing customers (periodic review) and performing risk assessments in line with the bank’s AML and KYC Policies and Procedures. This applies to all branches in Asia.
• Manage KYC / CDD trigger events and reviews and ensure appropriate actions are taken in accordance with the AML and KYC Policies and Procedures.
• Perform checking functions for name screening and searches on prospective customers and existing customer base.
• Co‐manage the KYC teams in the APAC region, extend the expertise to perform KYC for APAC region.
• Review and check for completeness of maintenance of static information to facilitate batch screening as per FAB requirements.
• Ensure 1st line of defense controls and procedures are implemented effectively.
• Ensure maintenance of customer lists and keep records accurate and up‐to‐date including archiving the records.
• Prepare and/or review of MIS at required periodicity, prepare the regulatory reports in a timely, accurate and complete manner for submission.
• Support preparing and refining design documents describing the process steps for projects on digital initiatives and automation of processes
• Maintain and keep static customer data accurate and up‐to‐date in the Core Banking System for Singapore branch.
• Prepare and review the MIS at various periodicity and issue reporting, ensure KRIs are not breached
• Participate in projects at the branch and regional level including projects on digital initiatives and automation of processes.
• Participate in project related to having Singapore branch become the regional hub for processing KYC of the APAC region.
• Perform any other duties given by the Management on an ad‐hoc and project basis.
• Support the Asia regions in advisory and checker.

Qualifications

Minimum Qualification

• A recognized diploma/degree in Business, Banking, Accounting, Finance or equivalent
• ACAMs or ICA Certified practitioner

Minimum Experience

• 7‐10 years of experience performing KYC in a banking environment.
• Work experience / knowledge of cross border regulations for performing KYC for APAC region and / or as external or internal auditor is an added advantage.
• Familiar with internal controls and banking operations, particularly anti‐money laundering. This includes good understanding of AML risk, risk ratings, source of funds/wealth, related parties, PEPs etc.
• Good writing and communication skills
• Self‐starter, resourceful, independent, active team player and able to handle work pressures
• Ability to multi‐task, prioritize and deliver consistent results.