Compliance Officer – AML/ Sanctions/ KYC
RAKBANK
مجموع سنوات الخبرة :6 years, 2 أشهر
AML
• Transaction monitoring, Investigation \[ECDD\], Activity Reviews and Negative Media Searches on Customers & Transactions identified as posing a heightened risk of Money laundering or Terrorist Financing
• Review of Credit Card/ Prepaid Card customers against the preset AML parameters
• Review of transactions in Remittance Management System \[CASMEX\] against the preset AML/ Sanctions parameters
• Responding to queries by The Central Bank of UAE & Correspondent Banks
• Maintain accurate MIS related to STRs, Correspondent Bank queries, KYC Approvals, Case ageing status etc. for reporting to senior management.
• World Check query management
• Carry out ad hoc projects and investigations on suspicious accounts, obtain and review documentary evidence and report on the same
• Filing of Report on Suspicious Transaction Reports \[STR\] with the Central Bank of UAE
• Assist in identifying procedural weaknesses in the transaction monitoring process
• Assisting the Head of Compliance in formulating the Group Anti Money Laundering \[AML\] Policy
Sanctions
• Support the Head of Sanctions, in protecting the bank from legal, regulatory, and reputational risk with regard to funds transfers involving Sanctions or policy issues
• Scanning of internal customer data base against the Sanctions and PEP list
• Investigate and analyse Inward/ Outward SWIFT payment transactions in the Sanctions monitoring system
• Reviewing and investigating escalated payments and/or transactions which have been identified as containing potential matches against Government Sanction lists: OFAC, United Nations, European Union, and others.
• Maintenance of, and projects relating to, sanctions list updates and enhancements.
KYC
• Reviewing and analyzing the KYB (Diligence AML Questionnaire) and self certification forms received from all the correspondent relationships.
• Approval of account opening for Offshore entities, PEPs, Freezone entities and other High Risk Rated customers.
LEAP consulting is a management consulting and professional services organization formed by a group of 4 Chartered Accountants from Big 4 Audit Firms \[Deloitte & EY\].
The following is a list of major assignments led by me, at LEAP Consulting.
• INTERNAL CONTROLS REVIEW- Education Marketing Company
Led a team of 3 resources in internal control review of sales, HR, signing of contracts with content providers and distribution agents
• POLICIES AND PROCEDURES DEVELOPMENT - Education Technology company
Led a team of 3 resources in development of policies for revenue, marketing & customer relations
• PROCESS RE ENGINEERING - Construction Company
Led a team of 3 resources in revising SOPs, Performed Walkthroughs and testing of entity level, procurement, revenue, hire to pay, and treasury cycle controls.
• COMPLIANCE REVIEW-Marketing Consulting Firm
Led a team of 3 resources in reviewing compliance with Objects clause, Display of company identity, Acceptance of unsecured loans, Deposits taken from public.
• INTERNAL AUDIT - Non Banking Finance Company
Led a team of 3 resources in reviewing public deposits, income recognition, asset classification and provision for bad and doubtful debts
Developed Risk and Controls Matrix and finalized audit reports
• OTHER ENGAGEMENTS
Application controls review of revenue, procurement and inventory cycles of a Government Public Works Department contractor.
Major Assignments
• COMPLIANCE FUNCTION TRANSFORMATION - Banking Company
Developing risk registers, testing programs and annual compliance plan.
Walkthroughs for key controls addressing regulatory requirements.
• INTERNAL CONTROLS FRAMEWORK REVIEW - Banking Company
Assessed internal control framework of the bank against COSO guidelines and SAMA requirements.
Assessed effectiveness of internal control framework of corporate and retail banking and control functions.
• OPERATIONAL RISK EXAMINATION - Banking Company
Review of branch operations, cash and clearing units and investment operations.
• REGULATORY COMPLIANCE REVIEW - Banking Company
Review of regulatory compliance against corporate governance, account opening, anti-money laundering, outsourcing and payment systems regulations issued by SAMA and CMA.
• PROCESS REENGINEERING - Construction company
Reengineering operating policies and procedures.
Reengineering policies and procedures for retail and non-retail operations.
• INTERNAL AUDIT - Real Estate Company
Providing off site support for performance of internal audit.
Developed Risk and Controls Matrix and finalized audit reports for marketing, mall management and leasing.
Major Assignments:
INTERNAL AUDIT - Tea Estate
Scope of review included procurement, contract compliance, review of contracts, review of hardware and software costs, accruals, common costs, payment process and payroll.
• PROCUREMENT PROCESS REVIEW - Automobile spare manufacturing Company
Review of procurement process for a leading Automobile spare manufacturer.
Scope of review included review of adequacy of policies and procedures, bidding, vendor evaluation and vendor selection process, adequacy of ERP controls, payments and invoicing process.
• PROCESS REENGINEERING - Automobile spare manufacturing Company
Process reengineering and development of standard operating procedures for a leading Automobile spare manufacturer.
Scope of work involved developing standard operating procedures for procurement, supply chain management, consumables management, Inventory, Finance and Accounts, Sales and marketing and HR and Payroll.
• INTERNAL AUDIT - Banking Company
Scope of work involved identification of leakages, review of Fixed Deposits, Payroll and Statutory Compliances.
• ERP REVIEW - Food Manufacturing Company
Scope of work involved post implementation review of ORACLE ERP. Review included production process, finance and accounts and statutory compliances.
• OTHER CONTROL ASSURANCE ENGAGEMENTS
SAS 70 Type 2 engagement covering revenue, payables and general ledger cycles.