Operating in the UAE for over 50 years, CBD manages the financial requirements of some of the largest corporates and businesses operating in the country, driving the UAE economy. Over the years, CBD has transformed into a progressive and modern banking institution winning multiple awards for its digital initiatives, credit cards, bank accounts, mobile app features and services.

CBD has been recognized as the number one bank in the UAE on the Forbes list of The World’s Best Banks 2022.

As we continue to build upon our successes, we are looking for ambitious individuals who are passionate about the banking and finance industry and the markets in which CBD operates. Just as important to us is your ability to demonstrate a talent for dealing with people - your colleagues and our customers and delivering service that really goes the extra mile.

Job Purpose:

The purpose of this role is to drive conformation to regulatory compliance, organizational (internal) processes & standards, operational risk framework and overall /end to end process governance for WBG segments. The role holder will be responsible for the business risk management and compliance activities in five key areas i.e., Process Controls and Governance, Ongoing Due Diligence (ODD), Business Risk Advisory, and Monitoring. Though there is no financial delivery linked to this position but conversely the position is to ensure banks comply with regulatory requirements and business risks are managed and mitigated to avoid any financial penalties & fines besides reputational loss

Principal Accountabilities:

Develop policies and procedures (SOP’s) and implement heightened monitoring measures on portfolios under WBG umbrella (where needed)

Identifying specific change requirements and ensure responsibility for defining the end-to-end process along with reasonable risk mitigation and control measures

Regularly review and update the client facing application and forms with respect to changing regulatory requirements.

CBUAE related reporting requirements, on KYC and ongoing due diligence.

Quarterly training on KYC/ ODD for First Line of Defence staff (FLOD).

Weekly & Monthly ODD/DQ/ other reporting to the Compliance forum and senior 

Monitoring and applying restrictions, locks and exits on accounts as per consequence management policy

Ensuring the consistent and effective implementation and performance of operational risk and control effectiveness of the 1st Line of Defence for Wholesale Banking Group. 

Work with the Regulatory, Financial Crime and CDD teams to identify adverse trends, poor controls and systemic risks.

Provide support with oversight of the monitoring and implementation of regulatory and financial crime controls, ensuring consistency.

Provide support in coordinating a holistic approach to the Regulatory/AML/CTF/Sanctions second line of defense (2LOD) assurance activity across the Bank and facilitate the development and embedding of best practice methodologies.

Support with the preparation of structured Dashboards and Management Information (MI) for reporting purposes.

Develop and manage annual BRG plan for the execution of key activities 

Review and assess impact of key regulations related to WBG – process and technology

Provide guidance and input on key regulatory concerns or matters requiring attention as highlighted by internal and external stakeholders

Managing relationships with key contacts and stakeholders. These are likely to include Chief Compliance Officer, Head of Operational Risk and Chief Internal Audit and other Coverage GM’s.

Regularly present compliance matters to senior management of WBG and recommend strategic or operational amendments for WBG activities.

Building risk awareness amongst staff by providing support and training to relevant stakeholders. 

Assist with audit execution and engagement with audit team on identified observations, representing the front line. 

Ensuring RCSA are done as per the framework for all WBG/TBG processes / functions

In conjunction with Ops Risk, facilitate development of Risk, Control and Security Assessments (RCSAs) which identify the key risks, their impact and the relevant controls.

Monitoring origination procedures of frontline staff to ensure compliance with regulations and internal policies

Generation and circulation of dashboard tailored to the relevant audience, to manage the Business Risk and Governance activities planned for the year, like educating the stakeholders about most significant risks to business, ensuring business heads understand the risks that might affect their business/ departments, ensure individuals understand their own accountability for individual risks. 

Review and evaluate/ assess policies and protocols; and make recommendations to implement modifications and improvement to the business processes. 

Required to manage activities to assist the Business Risk & Governance function to run business processes efficiently. 

Education and Experience

Bachelor's Degree as a minimum from a recognized university.

7-10+ years of overall Banking experience with specialized experience at a senior level in areas of compliance, audit, operational risk

Experience working in relevant environment/s, i.e., Operational Risk/Business Risk/Internal Audit in Financial Services organisations

In-depth knowledge of UAE regulatory framework, Wholesale & TB Banking products and services and Operational Risk frameworks.

Relevant product knowledge including knowledge of Experience of Control Monitoring, Facilitating Risk and Control Assessments (RCAs) is required.