Compliance Officer CAMS
AL ROSTAMANI INTERNATIONAL EXCHANGE
Total years of experience :17 years, 8 Months
Professional Summary
Having extensive experience in Banking and Finance sector. Serving as Certified AML Specialist CAMS, Compliance Analyst at well reputed MSB in UAE, where I remain engaged to provide efficient and reliable solutions for AML, Sanctions Screening, CFT, Client Onboarding & related queries that demand expert knowledge of compliance guidelines.
My strength lies in the ability to manage & implement regulatory compliance guidelines related to Anti Money Laundering, Enhanced Due Diligence, KYC, Customer Due Diligence, Suspicious transaction reporting, PEP customers handling and Client On-Boarding by implementing and aligning established processes of Corporate & Retail Business.
JOB DUTIES
• Analysis of Red Flags / alerts to identify suspicious activities.
• Providing guidance to the compliance team in monitoring supporting documentation and reviewing transaction activities.
• Driving process improvement and policy development initiatives.
• Maintain ongoing awareness / knowledge of all applicable domestic and international requirements (including guidelines issued by international bodies such as FATF, Basel, Wolfsberg, etc); provide interpretation to business / operations on applicable policies and regulatory mandates. Execute and implement the same within the branches.
• Actively participate in applications / systems / product development. Provide value added recommendations to ensure that all systems and products in the unit have appropriate internal controls related to Regulatory Compliance to ensure efficient customer service, compliance of local laws / regulations so as to protect the assets of the bank.
• Promptly escalate any critical issues to ensure that the Bank is not investigated, charged, fined or publicly castigated by any of the regulatory authorities and/or international bodies.
• Keep a vigilant eye on the unit’s activities to identify any unusual activity, surface risk proactively and report suspicious transaction to MLRO / regulatory authorities.
• Provide assurance to the management that all processes / controls are in line with the regulatory requirements & with the Bank’s KYC / AML / Sanctions policies/procedures.
• Act as a focal point for all regulatory matters (involving regulators, Courts, other enforcement authorities, FIU, Customs etc.), if required.
Key Performance Areas
• Review various applicable regulatory legislations. Promptly communicate all regulatory changes / notices / circulars to all concerned stakeholders. Provide interpretations and guidance. Develop / monitor action plans towards its implementation.
• Support branch operations by providing compliant solutions to regulatory requirements and intervene where necessary to stop a transaction / process / business proposal if not in compliance.
• Conduct Compliance Monitoring periodically to ensure no lapse of regulatory requirements.
• Report findings and issue recommendations for corrective action.
• Ensure continuing compliance of processes / systems / products - review procedures / SOPs / service level agreements etc. in line with various regulatory legislations & guidelines; where deficiencies are detected, make recommendations to management towards its adherence.
• Manage Regulatory inspections. Act as a focal point to the examiners while their visit to the branch and facilitate trouble free examination. Ensure implementation / regularization of inspection recommendations within the agreed deadline(s). Keep IBG Compliance / HO updated with the progress.
• Conduct special investigations and / or respond to the queries that are sought by law enforcement agencies. Provide feedback (accurate information) within the desired timelines.
• Implement AML monitoring procedures & controls at unit level. Introduce monitoring scenarios & parameters as appropriate in line with the size of the unit; ensure all customer accounts / products / activities are covered within the ambit of the monitoring process.
• Tally corporate accounts statements with bank ledger.
• Daily check on key accounts to control operating expenses.
• Foreign currency accounts sales transactions reporting to Central bank.(USD, GBP, EUR)
• Supervise Cash withdrawals from Customer Accounts.
• Posting of Inter-branch transactions in internal Accounts.
• Daily review of trial balance to manage the branch expenses & the profits it earned.
• Record branch expenses in relevant Heads.
• Monitoring online transactions in high profile customers’ accounts.
• ATM supervision & Balancing.
• Daily monitor Till Balancing & Finalizing Vault.
• Implement Audit Compliance & submit Audit observations Rectification report to Head office.
• Performed all financial transactions in customers & internal accounts.
• Receipts and cheques payments.
• Opened different accounts(Individual accounts, Joint accounts, Partnership accounts)
• Performed Cash and VAULT balancing.
• Local & Foreign currency handled( PKR, USD, GBP, EUR )
• Processed Outward & Inward clearing of Cheques.
• Accounts Entries(Journal Voucher, Cash Voucher, Payment Voucher)
• Booked originated Expense & Accruals.
• Worked in Account opening department.
• Deals in variety of accounts( Individual, Joint & Partnership Accounts)
• Worked as UNIVERSAL TELLER that includes Cash Receipts and Check Payments, Utility Bills collection, Credit card payments collection
• Internal accounts transfers.
• Worked in Remittances Department(TT's, Pay- orders)