Zohaib Khalid

Results driven and proactive MLRO/ Compliance Officer and expert at implementing and improvements to internal control structures of KYC/ CDD/ EDD/ Sanctions and Money Laundering investigation/PEP review/Onboarding and regulatory Compliance. Possess a thorough understanding of the AML/CFT areas of UAE Federal Law, UAE Central Bank, DFSA (Dubai), FSRA (Abu Dhabi) requirements along with the requirements of top regulators FCA (UK), GFSC (Guernsey).
Compliance Aspect:
• Review and update several Policies and Procedures in relation to the Compliance Risk Framework and oversee implementation. These policies include but are not limited to (AML, CFT and Sanctions Manual, Compliance Manual, Employee Handbook, Trigger Event Review and Process, Compliant Policy etc).
• Drafting and submission of several quarterly reports to directors and board members (related to compliance and different Funds).
• Reviewing and analyzing end to end client onboarding process, including several screenings (Sanctions, Money Laundering, Adverse Media, PEP Association, internal black list etc).
• Being an active member of ACAMS and Certified Money Laundering Specialist, performing Certifications calls to authenticate the provided documents (ID and Income documents etc).
• Maintain an appropriate compliance training program and adequate awareness arrangements and ensure that employees receive appropriate training on compliance with their regulatory obligations.
• Acting as a point of contact to receive Internal Suspicious Activity Reports.
• Making external SAR and the FIU via goAML system and notifying the regulatory authority.
• Establish, maintain an ongoing effective CMP (Compliance Monitoring Plan).
• Maintain all compliance logs and registers, few are but not limited to (Employee register, Marketing register, Correspondence with regulator, Gifts register, Complaint register etc).
• Obtain and maintain declarations logs, these annual/quarterly declarations include but not limited to (Fit & Proper declaration, AML, CFT Manual declaration, Employee Conduct declaration, Firm Quarterly declaration, Outside business interest declaration, Recognized Person declaration etc).
• Performing adhoc/sample CDD testing.

Regulatory Compliance:

Legal Aspect:
• Act as the first point of contact with the regulators FSRA and other competent UAE regulatory authorities DFSA/MOF/CB UAE.
• Submission of all regulatory reporting and filing in a timely manner (i.e Semi-Annual MLRO report, Annual AML Return report, IRAP - Internal Risk Assessment Process, Annual Controller Report). Additionally, any adhoc report which needs to be submitted from time to time. Performing Sanctions Impact Analysis on all the funds and investors relations.
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• Perform annual reviews on prospectus information
• Draft and /or review additional documentation in respect of any new funds or business.
• Keep abreast of legal and regulatory developments in the UAE that pertain to the business or its operations and keep the SEO/Directors appraised of proposed solutions and progress towards implementation.
• Submission of FATCA, CRS forms.
• Submission of ESR (Economic Substance Reporting/Notifications)

• Risk Governance, Corporate Banking
• Managed Financial Crime Risk
• Assisted MLRO with regulatory reporting to Central Bank, UAE.

• Client onboarding (Conducting Enhanced Due Diligence, performing various screenings and analysis World Check, Google Screening, Adverse Media, Sanction screening, Dedupe/Blacklist/CB screening).
• Performing AML and KYC analysis on complex structure entities specially based in High Risk Jurisdictions.
• Identifying PEP and UBO and establishing source of funds,
• Preparing final and comprehensive reports for each case. Additionally:
• Develop, implement, and execute the Compliance Policy and Regulatory Risk Framework (for Asia, Africa and Middle East region).
• Constantly reviewing and revising Compliance policies, including corporate governance and anti-money laundering.
• Review, approve and escalate AML/KYC concerns to higher management.
• Monitor all regulatory risks and potential compliance issues across the Middle East business.
• Operate as key point of contact for all cross departments related to Compliance concers and regulatory matters.
• Worked with senior management and colleagues to embed a compliance culture throughout organization.
• Responsible for any relevant requirements of the business with respect to AML.
• Providing training program to all staff related to AML, Sanctions, Regulatory Compliance, Policy and Procedures.

Support Vice President, MLRO and Compliance function with the following activities:
• Conducting KYC Onboarding CDD/EDD Analysis for all High and Very High risk rated clients.
• Conducting Enhanced Due Diligence and preparing final report for decision making considering various aspects of AML, Regulatory Compliance, Sanction Screening and adverse media etc.
• Develop the framework of CDD area which includes drafting the policies, procedures and system in order to complete the CDD/EDD process and creating awareness regarding the Compliance Function.
• Enhance governance and assist businesses, FLOD (First Line of Defense), Risk and Control and International locations develop their Compliance Risk Framework.
• In depth review of Suspicious Transactions highlighted by Transaction Monitoring Team, and raising STR to MLRO for approval and decision.
• Stay abreast of related laws, rules, regulations and best practices pertaining to the AML, Regulatory Compliance and Financial Crime Compliance.
• Provide Compliance Advisory (AML, Regulatory and Sanction prospective) to business support functions, international branches, and subsidiaries.
• Develop and deliver focused training to FLOD (First line of defense) and business on performing CDD/EDD.
• Identify Compliance related issues within the business and ensure material risk are reported on monthly basis to appropriate Committee forum.
• Provide expertise and support to Monitoring and Assurance team to enable them to conduct effective review and test for the CDD/EDD.
• Assist with any ad-hoc tasks that may be assigned by Line Manager or MLRO (Money Laundering Reporting Officer).

While working with Noor Bank I have been majorly associated with two main functions Credit and Compliance. In Credit I was allied with Underwriting division for secured and unsecured, however from Compliance perspective I was associated with AML & Client onboarding team and conducting Compliance EDD for EKYCs and AML Analysis.

Compliance Analyst:
• View and conduct Enhanced Due Diligence (end to end process) on the EKYCs/Profiles of HRB (High Risk Businesses) and HRN (High Risk Nationals) accounts & companies referred to compliance, in accordance with the rules and regulations advised by CBUAE and Banks AML/KYC Policy.
• Conducting client risk assessments such as analyzing Financial Statements, checking ownership and identifying UBOs (ultimate beneficiary owners), analyzing directors, identifying origin and source of funds/wealth.
• Experience in the field of Anti-Money Laundering, Conducting CDD/EDD & related investigations.
• Perform Quality Checks for the alerts processed as per the Global Sanctions Policies & Procedures and to check if the decision is appropriate with the internal controls and Global AML Standards.
• Strong research background and ability to understand the implications of financial sanctions on individuals/blocked person- s/Specially designated nationals (SDN- s) and risks of dealing with them.
• Ability to understand the risks of dealing with politically exposed persons (PEP- s) and regulatory expectations around dealing with PEP- s.
• Understanding of sourcing information from various data sources (adverse media) and in several cases utilizing financial reports and audited statements for such purposes.
• Conduct weekly meeting with business owners (cross departments head) in order to identify gaps between policies and procedures and educate/train them as per updated regulatory policies.

CREDIT DEPARTMENT - RISK MANAGEMENT June 2012 - March 2015
As Credit Analyst, Initiate by analyzing cases based on borrowers character and integrity, capability of repayment, business, economic and personal conditions, Capital input and collateral available with the underlying objective of minimizing risk to the organization.
DUTIES:
• To evaluate and assess the overall risk factor and eligibility of individual and corporate clients, while examining the bank statements, audited financials (Balance Sheet, Income Statement, cash flow statement, operating activities), and ratio analyses.
• To analyze and process cases based on overall consideration of customers profile, employment status and industry, financial position, existing liabilities, aggregate exposure to DIB (Dubai Islamic Bank), capability of repayment and credit history, relationship with DIB (internally with other departments e.g. status of other availed facilities from corporate and relationship managers recommendations) and other banks.
• To check the income statement, tax return, and Credit Bureau Report for resident and non-resident customers in order to know their leveraged percentage. Undertake risk assessment and approve with delegated authority level and recommendation for approval for higher authority levels.
• Prepare Credit Proposal for review by MCC (Management Credit Committee) that are used in making lending decisions on new, renewal and extension loans.
• To ensure deviation approvals from product and credit parameters are done as per the delegation authority matrix.

To assist head of department in monitoring cases and market trend to minimize risk and increase quality cases
• To review and monitor the authenticity of the facilities and documentations proposed by branches/sales and effectively ensure that all financial and non-financial parameters are adhered to set standards.
• To review and ensure that the credit analysts are accurately interpreting financial statements of companies, analyzing bank statements, field visit is completed and all required information is captured.
• To review credit proposals ensuring all information required is laid down with ensuring minimal error

• Portfolio Management, Deposit Mobilization, and Cross Selling.
• Performing CDD (Customer Due Diligence) and to raise (STR) Suspicious Transactions Report to higher management.