VP KYC And Onboarding - Business Banking

Job Description:

To perform duties as required in the relevant bank policies and departmental SOPs covering KYC Review & Approval process. The candidate will lead the team which performs independent reviews of KYC files for client on-boarding and KYC refresh and trigger based events. The candidate will ensure that the KYC files are complete within the agreed SLA’s in terms of required KYC information / documentation in accordance with bank’s policies / procedures and local regulatory expectations of the UAE Central Bank.

To ensure that AML / CTF / Sanctions risks associated with the clients are appropriately identified, assessed and mitigated before a decision is taken to onboard or retain bank clients and the Group CDD standards are adhered and enforced. Main Objectives: VP will act as a team lead and will support the Head of KYC Onboarding, working both as an individual contributor and guiding team along with offshore locations on day-to-day activities.

VP’s objective is to be accountable for the end-to-end KYC approval process, from the moment KYC is submitted till the time the file is approved. VP’s responsibilities also include providing Advisory on KYC process, policy requirements, screening, risk rating and risk matters, managing relevant stakeholders etc. Aligned to Banking Coverage teams he/she will work closely with products teams and other onboarding functions including KYC & Onboarding team, Business (RMs) and FCC/Compliance to deliver the service required.

• Manage process for New to Bank Client Onboarding Process along with Periodic & Trigger Reviews in liaison with all stake holders. Ensure all clients are onboarded within the onboarding timelines agreed.
• Ensure compliance with UAE Central Bank regulations and bank policies/ procedures related to CDD, AML/CTF, PEP & Sanctions.
• Ensure CDD information/documentation is complete in line with bank policies / procedures & local regulatory requirements.
• Ensure ML/TF, PEP, adverse media & sanctions risks associated with the client are identified, assessed, and appropriately mitigated during CDD reviews.
• Escalation of risks identified during CDD reviews to the relevant stakeholders in FCC / Compliance and Business, where necessary.
• Provide necessary advisory on bank policies / procedures, regulatory requirements, CDD Process and FCC risks such as PEP, adverse media, sanctions.
• Annual review of bank policies related to CDD, AML/CFT, PEP and Sanctions.
• Draft and implement CDD SOPs, CDD Checklist, and Process Guidance Notes, CDD form, PEP form and Sanctions Exposure Questionnaire (SEQ) in line with the up to dated guidelines.
• Support in deployment & enhancement of CDD processes and other systems for the sake of automation.
• Experience in risk management field and proven experience in supporting the development of business activities whilst robustly applying risk management disciplines and controls.
• Ensure adherence to all internal policies / procedures and external regulatory requirements at all times.
• Support Head of KYC Onboarding – Risk & Controls to conduct meetings and discuss process related challenges and sticky issues, where applicable.
• Perform independent analysis/ approve cases up to high-risk as per DOA and review, approve and forward very high-risk cases to FCC and Compliance teams.
• Prioritization – maintain the discipline in partnership with the local business. Communicate consistency to internal and external stakeholders to ensure that the KYC cases are accepted through the approved channels and expectations are managed appropriately.
• Along with managing KYC approval process for CDD delivery; also support and participate in various change management & digital initiatives.
• Liaise with key…