Head of AML & Sanctions - Jobs in Qatar

Job Description

Responsible to manage AML/CFT & Sanctions Policy and Advisory team, ensuring AML/CFT & Sanctions policies and procedures are updated with local regulatory, FATF guidelines and external regulations and that an appropriate advice is provided to the 1LOD and 2LOD (line of defense) within the Bank.?This role may act as MLRO/DMLRO that involves preparing MLRO report, ongoing communication to the senior management and Board members, QCB and QFIU. The role is responsible for preventing ML/TF and sanctions breaches and implementing sufficient processes and controls, reviewing and approving STRs and High Risk customers, developing and maintaining Customer and Business Risk Assessment methodologies and participating in the annual Business Risk Assessment process.

• Organize and supervise the activities and work of subordinates to ensure that all work within a specific area of the activity is carried out in an efficient manner which is consistent with operating procedures and policy.
• Provide on-the-job training and constructive feedback to subordinates to support their overall development.
• Contribute to the preparation of the budget and monitor financial performance versus the budget so that the business is aware of anticipated costs/revenues and areas of unsatisfactory performance are identified
• Implement and oversee the AML/CFT & Sanctions framework
• Develop, maintain and update the Bank?s policies and functional operating procedures in the area of AML/CFT & Sanctions and direct the implementation of related processes and controls, so that all activities are conducted in compliance with risk, audit, legal and regulatory requirements while delivering a quality, cost-effective service.
• Supervise the L3 Sanctions screening process by the Sanctions Governance team to ensure that the Bank and its customers comply with applicable national and international sanctions, and all activities involving sanctioned parties are detected and blocked or frozen
• Supervise the L3 AML monitoring process by the AML Governance team to ensure that all unusual and/or suspicious activities are being detected and reported in compliance with applicable AML regulations in order to protect the interests of the Bank from regulatory criticism, financial penalties and reputational damage.
• Address all queries from the 1LOD and 2LOD of the Bank regarding applicable AML/CFT & Sanctions regulatory requirements to enable them to take appropriate course of action within their units.
• Execute and assess KYC remediation
• Develop AML/CFT & Sanctions training material and deliver necessary AML/CFT & Sanctions training for Bank?s employees
• Design and execute AML/CFT & Sanctions annual plan
• Develop and maintain Customer and Business Risk Assessment methodologies, test their effectiveness and participate in the annual Business Risk Assessment process
• Test the effectiveness of automated AML transaction monitoring and Sanctions screening systems and participate in fine tuning and approval of the system?s scenarios, rules and settings
• Manage applicable lists used by the Bank in Sanctions screening process and update them accordingly
• Review and approve EDD escalations of High Risk customer, including PEPs, and their periodic assessments
• Oversee the timely identification of ML/TF & Sanctions incidents, their resolution, and escalation to the Head of Financial Crime and Regulatory Compliance
• Act as the point of contact for the Bank?s Internal Audit on all AML/CFT & Sanctions related matters and respond to the Internal Audit on related action items
• Develop and oversee KPIs for AML/CFT & Sanctions team
• Liaise with QCB/QFIU on AML/CFT & Sanctions matters
• Review and approve STR, internal STR and other regulatory reports. Ensure that suspicious transaction reports are accurately prepared and timely submitted to QCB, and that respective databases are updated in order to strengthen CBQ?s capabilities in combating ML/TF
• Produce the monthly AML/CFT & Sanctions Dashboard and present it to senior management
• Deputize for the MLRO/DMLRO and assume their responsibilities in case of absence
• Oversee the completion and/or participate in Compliance monitoring & testing reviews in the area of AML/CFT & Sanctions
• Maintain, update and sign off on KYC-related documentation related to the bank (Wolfsberg, PAC, etc.)
• Perform other related duties or assignments, as directed by senior management.

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