Full-time Sub Division: Compliance Assurance Division: Group Compliance Company Description FAB, the UAE's largest bank and one of the world's most secure financial institutions, is dedicated to creating value for its employees, customers, shareholders, and communities. Through innovation, agility, and differentiation, FAB is committed to fostering growth. We are looking for top talent and your success is our success. Accelerate your growth as you help us reach our goals and advance your career. Be ready to make your mark a top company, in an exciting and dynamic industry Job Description JOB PURPOSE: Compliance Assurance Unit The unit is responsible for managing the Group Compliance Testing and Monitoring plan to provide assurance that the Group is operating in line with regulatory requirements and internal compliance policies and procedures. This entails planning, development and implementation of a risk-based Group Compliance Testing and Monitoring plan, working with business units to undertake reviews and issuing reports that provide assurance as well as highlighting deficiencies so that they can be corrected. This function is also responsible for maintaining a log of all compliance and regulatory related issues across the Group and to track and report them as well as validate the appropriate closure. The function also provides assistance in the development of compliance reports to support the to execute monitoring and testing on first and second line of defence activities related to Regulatory Compliance and Financial Crime, in line with the approved Group Compliance Testing and Monitoring plan. KEY ACCOUNTABILITIES: Job Specific Accountabilities Support in the development of the annual Compliance Testing and Monitoring plan, testing schedules, templates and associated working papers. Perform Compliance testing and monitoring reviews within the Group. Consult with relevant departments to ensure that the coverage, scope and approach to delivering reviews are planned and targeted effectively. Execute the compliance testing and monitoring reviews (desk/thematic) in accordance with the Group Compliance Reviews procedure, including control design assessment and operating effectiveness testing. Identify gaps in the controls, processes and systems and agree remedial actions. Prepare the review reports and track business unit remediation activity. Prepare the periodic reports to the Head of Compliance Assurance on Compliance testing and monitoring results, compliance issues and overdue/completed action plans. Maintain and prepare Compliance monitoring and testing and Issue Management related Management Information reports. Generic: Support VP Compliance Testing and Issue Management in the Compliance issue maintenance, tracking and reporting to Senior Management. Support Group Compliance Assurance on any ad hoc tasks as applicable. Quality Assurance: Support VP Compliance Monitoring Plan in drafting and implementing Quality assurance procedure. Undertake Quality assurance reviews on Alert closure generated from the transaction monitoring, payment and name screening systems. Recommended remedial action to ensure compliance with FCC policies and procedures. Identify gaps in the system/process and recommend improvement. Conduct relevant training on conducting quality assurance to new joiners and junior staff. Generic: Support VP Compliance Monitoring Plan in drafting and design CMP. Support MAG team members on any ad hoc tasks as applicable. #LI-SD1 Qualifications Minimum Qualification Bachelor’s Degree or Higher in Management, Banking or Finance, preferably with certification in compliance, corporate governance, risk management or internal audit. Minimum Experience At least 4-5 years of business experience preferably in Compliance and/or Audit in a reputed bank
Role Overview: You will be joining the Compliance Systems Governance and Model Validation Unit within the Group Compliance division at FAB, the UAE's largest bank. In this role, you will be responsible for validating and ensuring the accuracy, reliability, and performance of sanctions screening models. Your work will involve conducting comprehensive validation of sanctions screening models, collaborating with stakeholders to address validation findings, preparing detailed validation reports, and staying updated with regulatory requirements and industry trends. Key Responsibilities: - Conduct comprehensive validation of sanctions screening models, including data integrity, model performance, and output accuracy. - Develop and implement validation methodologies and frameworks in line with industry best practices and regulatory guidelines. - Perform quantitative and qualitative analysis to assess model risk and performance. - Collaborate with model developers, compliance teams, and other stakeholders to address validation findings and improve model robustness. - Prepare detailed validation reports and documentation for internal and regulatory review. - Stay updated with the latest regulatory requirements, industry trends, and advancements in sanctions screening technologies. - Provide recommendations for model improvements and enhancements based on validation results. Qualification Required: - Bachelor's or master's degree in Finance, Economics, Statistics, Mathematics, Computer Science, or a related field. - Proven experience in model validation, risk management, or a similar role within the financial services industry. - In-depth understanding of sanctions regulations and compliance standards, including OFAC, EU sanctions, and other international sanctions regimes. Understanding of CBUAE regulations is desirable. Additional Details: FAB, the UAE's largest bank, is dedicated to creating value for its employees, customers, shareholders, and communities through innovation, agility, and differentiation. As part of FAB, you will have the opportunity to accelerate your growth, help the organization reach its goals, and advance your career in an exciting and dynamic industry.,