Senior Consultant
Pwc - United Arab Emirates
Total years of experience :7 years, 4 Months
Assist with the development and maintenance of the risk-based compliance program, the compliance risk register and the regulations & licenses libraries
• Development of the Anti-Money Laundering policies and procedures in line with the local laws and global regulatory requirements and overseeing their implementation
• Review of the existing & on-boarding customer KYCs and assessment of the potential risks that are associated with them as well as advising the appropriate actions to be taken
• Conduct on-going monitoring, due diligence reviews and reporting on the outcome of Anti-Money Laundering risk assessment and ensuring that remedial actions are taken
• Assist the business in on-going transaction monitoring, sanctions checks, PEP screening and transactional AML & CTF risk management and providing guidance on the escalated matches
• Monitor the Compliance plan and program outcome, and provide a monthly summary to the management on its progress
• Work closely with associated businesses to identify, maintain, and continually monitor legal compliance risks, as well as develop processes for identifying, collecting, and analyzing compliance risk KPIs
• Identify, investigate and resolve non-compliant activities and the identified suspicious activity report
• Act as a point of contact between the Group and the local financial intelligence unit (FIU) and providing them with information on customer Suspicious Activity Reports (SAR)
• Organize training workshops to enhance employee awareness and keep them abreast of latest developments and red flags in AML/CFT and Compliance
• Prepared memos to branch and management regarding daily cash activities and related trends
• Provided oversight and execution of AML transaction and account ongoing monitoring
• Advised and improved deficiencies identified in the KYC program, internal controls, and independent testing
• Conducted enhanced due diligence (EDD) on onboarding & existing clients in accordance with the bank AML policies for international clients and sensitive domestic clients such as PEPs or those associated with high-risk industries or countries
• Reviewed onboarding customers profile legitimacy, account purpose and analysis of the expected banking activity based on the daily obtained KYCs and legal documentation from the client contacts within the Bank branches;
• Reviewed transactions for potential suspicious activity and possible violations of the Bank Secrecy or Anti-Money Laundering Laws, filing Suspicious Activity Reports (SAR) as needed
• Investigated and provided guidance and advice to multiple lines of business risks associated with higher risk customers, transactions, products, services and geographies