Senior Manager AML Compliance GBM Team Lead
High Risk Role
Within HSBC certain roles are designated as High Risk Roles. High Risk Roles are those where employee malpractice could lead to significant financial and/or reputational damage through internal fraud, data loss, bribery or the leaking of confidential information. For these roles, all internal and external applicants are required to undergo a range of enhanced security/background checks as part of the pre-employment vetting process. This role has been designated as a High Risk role and any candidate hired into this role would be subject to this vetting. In the event that you are short-listed for this role, further details are available from the HSBC Recruitment team on our enhanced security/background checking processes.
Role Purpose
To manage and implement HSBC Group and HBME’s Anti Money Laundering (AML) and Counter Terrorist Financing (CTF) policies and procedures in the UAE in compliance with UAE Central Bank regulations, Jersey Financial Services Commission requirements and the Group’s Global Policy and Principles (GPPs).
The primary focus of the job is to proactively assist management in identifying and containing AML and CTF risks, reporting, fostering a compliance culture in order to protect the HSBC Group from reputational risk and regulatory breaches or fines. The aim is to deliver AML capability that aligns with business strategy utilizing the AML programme to gain business benefits whilst ensuring compliance with domestic and global legislation.
The job holder will provide leadership to a team of AML Compliance professionals in supporting an assigned business line and provide AML Compliance guidance and direction to the country head of the business unit.
Principal Accountabilities:
Responsible for all AML Compliance support and oversight to the assigned business unit.
Report to the Country Head of AML and Head of Business unit all material risks, concerns and exposures that could result in breaches of law, regulation or policy.
Manage and develop a team compliance professionals in the provision of AML Compliance guidance and direction
Responsible for Compliance approvals and sign off for high risk customers and transactions proposed by the business unit
Manage the Compliance support and oversight related KYC, CDD and EDD for the onboarding of new customers and renewal of existing customers.
Represent Compliance on customer selection committee for the assigned business unit.
Liaise with regulators on investigations and queries related to regulatory reviews of customers
Responsible for AML Compliance representation in business unit management meetings and new initiatives and projects.
Discharge duties of SME on Regional AML matters for the assigned business line by providing direction to Regional Business line and relevant country business line AML officers.
Serve as the escalation point for the business unit and country compliance for interpretation on regional business line AML policies
Provide guidance and direction on regional initiatives and projects in the assigned business unit and guidance to country compliance functions.
Proactively assist management in identifying and managing AML/CTF risk, monitoring, reporting, fostering a culture of compliance and optimizing relations with regulators.
Support the Country and Regional Head of AML Compliance to investigate and responds to requests and queries from Group Compliance on customers and activities in the assigned business unit
Customers / Stakeholders
Country and Regional Head of AML Compliance
Country Business Unit Head and Country CEO
Regional Business representatives and project managers
Country and Regional regulators.
Leadership Teamwork
Act as the point of escalation within the business unit and department for all AML/CTF matters.
Manage and supervise the business unit compliance team particular emphasis on oversight over high risk customers and transactions
Develop the business unit compliance team and promote balanced decision making with escalations as required.
Support the Country and Regional head of AML Compliance with implementation and execution of all relevant and required AML controls and oversight processes.
Work closely with the Regional Head of AML to ensure a consistent approach to similar issues experienced across the MENA Region for the assigned business unit.
Operational Effectiveness Control
Implement Compliance Plans / reviews as agreed with the Head of Compliance. Liaise with Operational risk and Internal Control to ensure appropriate checks are conducted.
Ensure periodic and ad-hoc reports or information is provided to Country / Regional Compliance within the agreed timeframe and to be of a satisfactory quality. This will include but not limited to AML KRIs, Annual AML Plans, Compliance quarterly and half yearly certificates.
Raise reportable events (IRIS) on AML/CTF issues o/. Escalate issues as required within the timescales. Provide recommendations and remedial measures. Regularly monitor events and provide updates.
Conduct investigations on customer risks identified by staff and make decisions on internal reporting and if required reporting to the appropriate regulatory authorities.
Closely interact with UAE network of LCR’s who are expected to provide AML/CTF/Sanctions support within their business.
Knowledge Experience / Qualifications
Degree qualified in business, law, economics or a related field. AML CTF Professional Qualifications are preferred.
The Job holder is required to have at least 5 years work experience in the AML/CTF field.
Must have good knowledge of banking operations and business processes.
Strong written and verbal communications skills and the ability to interact with all level of senior management of the Bank, Group, Central Bank and other regulators.
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