Compliance Analyst

Roles and responsibilities

• 3-5 years of experience in sanctions compliance or a related field within financial crime compliance in AML and Sanctions.
• Ability to collaborate effectively with regional and global teams across different functions.
• Strong knowledge of sanctions regulations (e.g., CBUAE, OFAC, EU, UN sanctions).
• Experience with automated screening and monitoring tools i.e World-Check (Refinitiv), Ingenuous(Intution), Dow Jones Risk & Compliance etc.
• Excellent verbal and written communication skills.
• A solid understanding of banking regulations and financial services processes.
• Self-motivated, detail-oriented, and focused.
• Strong organizational and time-management skills, with the ability to prioritize tasks.
• Strong creative problem-solving skills and the ability to assess the effectiveness of investigations.
  

Key Responsibilities

• Conduct second-line reviews of sanctions-related alerts generated by automated systems, manual reports, or internal referrals.
• Investigate potential sanctions violations or matches and report confirmed sanctions breaches to the Sanctions Lead.
• Propose additions or removals from sanctions lists, refine guidance, and update records accordingly.
• Assess client sanctions exposure and contribute to Customer Due Diligence (CDD)/Enhanced Due Diligence (EDD) insights.
• Research and analyze sanctions-related in new or updated ownership details.
• Provide timely advice and guidance on sanctions concerns to relevant business units and stakeholders.
• Review complex ownership related to sanctions, high risk jurisdictions transactions, and escalated issues from various business lines.
• Support the Sanctions Manager in preparing materials for regulatory exams and assist during exam calls.
• Document all investigation steps and provide clear reasoning for decisions made.
• Investigate PEP (Politically Exposed Person) screening alerts, utilizing both internal and external resources.
• Escalate potential sanctions or AML-related issues to the Sanctions Manager.
• Facilitate Requests for Information (RFIs) with the Front Office regarding sanctions or PEP cases, when applicable.
• Maintain and update case files with relevant investigative information.
• Assist with validating sanctions and PEP alert systems and participate in testing new releases or updates.

Desired candidate profile

• Sanctions Screening:

  • Transaction Screening: Reviewing and screening transactions (both domestic and international) against sanction lists (e.g., OFAC, UN, EU, HM Treasury) to detect any links to sanctioned individuals, entities, or countries.
  • Customer Screening: Screening customers, counterparties, and business partners to ensure that they are not listed on sanctions lists or involved in prohibited activities.
  • Ongoing Monitoring: Continuously monitoring and screening transactions and customers for updates to sanctions lists and changes in regulations.

• Risk Assessment and Mitigation:

  • Sanctions Risk Analysis: Assessing the risk level of customers, transactions, or business activities in terms of exposure to sanctions violations.
  • Investigating Potential Violations: Investigating flagged transactions and customers to assess whether a violation has occurred and whether it requires reporting to regulators.
  • Risk Mitigation: Recommending and implementing measures to mitigate risks associated with violations, such as strengthening due diligence procedures or adjusting business practices.

• Compliance Reporting and Documentation:

  • Report Suspicious Activities: Preparing and submitting reports to relevant authorities (e.g., regulators, government agencies) when potential sanctions violations are identified. This may involve filing Suspicious Activity Reports (SARs).
  • Internal Reporting: Communicating findings and providing regular updates to senior management, compliance teams, and legal departments about sanctions compliance risks and issues.
  • Documentation: Ensuring that all compliance activities, investigations, and decisions are properly documented in accordance with internal policies and regulatory requirements.

• Policy and Procedure Development:

  • Compliance Program Development: Assisting in the development, implementation, and maintenance of the organization’s sanctions compliance program, ensuring that it is in line with the latest regulations.
  • Procedure Review: Reviewing and revising compliance procedures and controls to ensure that they remain effective in detecting and preventing sanctions violations.
  • Training and Awareness: Providing training to employees and stakeholders about sanctions compliance requirements, including how to recognize and handle transactions that may involve sanctions risks.

• Collaboration with Other Departments:

  • Working with Legal and Risk Teams: Collaborating with legal, compliance, and risk management teams to ensure that sanctions risks are fully understood and addressed across the organization.
  • Cross-Functional Coordination: Coordinating with departments such as sales, finance, trade, and operations to ensure that sanctions compliance is integrated into the business’s operations and decision-making.