Sanctions Officer

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.

The jobholder is responsible for reviewing Sanctions escalations as an escalation point within the service level parameters, mitigating compliance risks by applying ownership with a high degree of attention and ensuring accuracy.

Principal Accountabilities

• Independently reviewing Sanctions alerts in accordance with the CBD Sanctions alert discounting procedures as a final escalation point.
• Assist in the process review and enhancement related to the referral, escalation, and resolution of Sanctions alerts.
• Assist and support in advising business units relating to compliance with international Sanctions regimes and associated risks to create a strong compliance culture.
• Assist to mitigate sanctions compliance risks, foster a compliance culture in the Bank and optimize relations with the Regulators, Correspondent banks, protect the reputation of the Bank, comply with applicable Sanction policies, standards & local laws & regulations.
• Review dual use of goods alert and/or export control restrictions in conjunction with the assessment and information provided by the Trade Operations.
• Maintenance of red flags record.
• Closely coordinating with Compliance, Operations for smooth processing of transactions.
• Strong analytical and problem-solving skills and the ability to provide viable solutions in a time-sensitive environment.
• Providing guidance and support to businesses or organizations regarding international trade sanctions.
• Evaluating potential risks and implications for businesses engaging in international trade, considering sanctions imposed on countries, individuals, or entities.
• Conducting training sessions and workshops to educate employees within an organization about trade sanctions, their implications, and best practices for compliance.
• Additionally, the specific responsibilities may vary depending on the evolving Sanctions regulations.

Requirements:

Qualifications

• Bachelor’s Degree as a minimum from a recognized university.

Skills

• Good written and oral communication.
• Report writing skills.
• Must have a background of performing Sanctions screening against OFAC, EU, UN, UAE and OFSI Sanctions regime.

Experience

• At least 5 years of experience in the banking/financial services sector with a minimum of 3 years in Sanctions advisory function

Competencies

• Communicating effectively.
• Thinking analytically.
• Teamwork required.
• Taking initiative.