CHIEF COMPLIANCE OFFICER & MLRO Bank of Baroda

Employer Active

Posted 16 min ago

Experience

8 - 15 Years

Job Location

Dubai - United Arab Emirates (UAE)

Education

Bachelor of Science, Bachelor of Commerce, Bachelor of Business Administration, Master of Commerce, MBA/PG Diploma in Business Mgmt, Inst. of Cost & Works Accountants, Chartered Accountant

Nationality

Indian, Emirati (UAE)

Gender

Any

Vacancy

1 Vacancy

Job Description

Roles & Responsibilities

  • Ensure compliance with the guidelines issued by the Central Bank of the UAE (CBUAE), the Reserve Bank of India (RBI), and the Corporate Office with respect to AML/KYC and regulatory requirements.
  • Monitor the conduct of business to promptly identify and address any breaches of regulatory or internal compliance requirements.
  • Liaise with relevant regulatory and statutory authorities (including the CBUAE and FIU) and represent the territory on compliance and AML matters.
  • Investigate suspicious transactions and, where required, file Suspicious Transaction Reports (STRs) with the local authorities within the prescribed timelines.
  • Submit the monthly Compliance Certificate to the Group Chief Compliance Officer at the Corporate Office, reflecting the factual status of KYC/AML/OFAC compliance in the territory.
  • Act as the nodal officer for preparing analytical data on AML and regulatory compliance issues for senior management, and exercise adequate oversight.
  • Ensure that transaction monitoring alerts are cleared on a daily basis, and verify at least 5% of alerts on a random basis.
  • Periodically review transaction monitoring scenarios to assess the effectiveness of the system.
  • Conduct Compliance Quality Assurance Tests, prepare reports, and develop action plans with timelines to address identified gaps.
  • Establish and maintain compliance and AML policies to be followed by all employees in the territory.
  • Review and update KYC, AML, and other compliance policies periodically to reflect local laws and regulatory updates.
  • Ensure that records are maintained in accordance with compliance and AML policies.
  • Ensure that existing and proposed data processing and information systems support compliance requirements, and assist in their continuous review.
  • Organize and oversee training programs in coordination with the HR Department to ensure employees are aware of and understand their compliance and AML responsibilities.
  • Coordinate with the Corporate Office compliance team in India

Desired Candidate Profile

  • 8 years of banking experience with at least 3 years experience in Compliance Function of Bank/Financial Institution in Senior / Middle Management.
  • Experience in sourcing, training and developing talent
  • Knowledge of Banking Operations.
  • He/ She should be fully conversant with FATF/OFAC/EU standard and other International Laws which govern cross border transactions.
  • Experience in managing compliance function at banks operating in UAE
  • Superior problem – solving and analytical abilities
  • Capability to take an innovative approach to developing solutions
  • In-depth knowledge of India / UAE market for corporate & institutional financial services
  • Sound knowledge of international banking law / practice and products / services particularly relating to India & UAE.
  • Outstanding interpersonal, communication and presentation skills
  • Innovation and creativity
  • Strong analytical and problem-solving skills
  • Bachelor’s Degree and/or Master’s Degree from a recognized Board/ University. Candidates having CA/CS/ICWA qualifications will be given preference.
  • Candidate should have secured CAMS Certification. Relaxation may be given to exceptional candidates who have proven track record of work experience in Compliance Functions Transaction/ alerts monitoring.
  • Knowledge in Arabic Language would be an added advantage
  • Candidate should be capable of acting as Convener of various committee meetings, ensuring effective communication at committee level.
  • The selected candidate will also handle other responsibilities as assigned by the Bank from time to time.

Employment Type

    Full Time

Company Industry

Department / Functional Area

Keywords

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Bank of Baroda

Bank of Baroda is the only Indian bank operating in UAE since June 1974. We have a network of -5- branches and -9- EBSUs and one offshore branch at DIFC. In U.A.E. Bank offers whole range of banking products and services encompassing all segments i.e. Individuals, SMEs and Corporate which takes care of their entire banking and financial requirements in UAE and Oman. The UAE operations have made significant contributions to Global business in terms of deposit, advances and profit. Due to significant growth in the business over a period of time, the ranking of our bank has substantially improved among foreign banks operating in UAE and it has emerged as the third largest bank in terms of Deposits and Advances.

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Dubai, United Arab Emirates (UAE)