Head of Quality Assurance for Financial Crime Compliance - Compliance

<div><h3>Job Purpose</h3><p>The Head of FCC QA is responsible for the design, implementation and ongoing management of the Financial Crime Compliance Quality Assurance framework across the bank. The role provides independent second-line assurance over the effectiveness, consistency and regulatory compliance of both second line and first-line financial crime controls (AML, CFT, sanctions, KYC/CDD, transaction monitoring and name screening included).</p><h3>Principal Accountabilities</h3><h3>1. QA Framework&Governance</h3><p>Develop, implement, and maintain the FCC QA methodology, standards, and procedures aligned with:</p><ul><li>UAE Central Bank regulations</li><li>FATF recommendations</li><li>Internal compliance policies</li></ul><p>Ensure QA framework reflects a risk-based approach, prioritising higher-risk business areas and products.</p><p>Maintain independence from first-line operational execution.</p><h3>2. Annual QA Plan</h3><p>Develop and obtain approval for the annual QA plan, aligned to:</p><ul><li>Enterprise-wide financial crime risk assessment</li><li>Regulatory priorities</li><li>Internal audit findings and historical issues</li></ul><p>Ensure dynamic updates to the plan based on emerging risks or regulatory developments.</p><p>Track execution against plan and provide periodic status reporting.</p><h3>3. Execution of QA Reviews</h3><p>Lead and oversee QA reviews across key FCC domains:</p><ul><li>Customer Due Diligence (CDD/KYC)</li><li>Enhanced Due Diligence (EDD)</li><li>Transaction Monitoring</li><li>Sanctions Screening</li><li>Suspicious Activity Reporting (SAR/STR)</li></ul><p>Conduct:</p><ul><li>File reviews</li><li>Process walkthroughs</li><li>Control testing</li></ul><p>Ensure sampling methodologies are statistically valid and risk-based.</p><p>Assess:</p><ul><li>Quality, completeness, and accuracy of first-line decisions</li><li>Adherence to internal policies and regulatory requirements</li></ul><h3>4. First Line of Defense Review</h3><p>Evaluate effectiveness of first-line controls and processes, including:</p><ul><li>Onboarding procedures</li><li>Ongoing monitoring frameworks</li><li>Alert handling and escalation</li></ul><p>Identify control gaps, process inefficiencies, and inconsistencies in application.</p><p>Challenge first-line practices constructively while maintaining independence.</p><h3>5. Issue Identification&Remediation</h3><ul><li>Document findings with clear root cause analysis and risk impact assessment.</li><li>Classify issues (e.g., high/medium/low severity) based on regulatory and financial crime risk exposure.</li><li>Track remediation actions and validate closure.</li><li>Escalate significant or systemic issues to CCO and relevant governance forums.</li></ul><h3>6. Reporting&MI</h3><p>Produce high-quality management information (MI) and dashboards, including:</p><ul><li>QA results and trends</li><li>Thematic issues</li><li>Repeat findings</li></ul><p>Provide regular reporting to:</p><ul><li>Chief Compliance Officer</li><li>Compliance Committee and or to the Board</li></ul><p>Highlight emerging risks and control weaknesses proactively.</p><h3>7. Stakeholder Management</h3><p>Engage with:</p><ul><li>First Line (Operations, Business Units)</li><li>Second Line (Compliance Advisory, Risk)</li><li>Internal Audit</li></ul><p>Act as a subject matter expert on FCC quality and control effectiveness.</p><p>Support regulatory reviews and inspections as required.</p><h3>8. Continuous Improvement</h3><p>Drive enhancements in FCC controls based on QA insights.</p><p>Benchmark QA practices against international standards and peer institutions.</p><p>Leverage data analytics and technology to improve QA efficiency and coverage.</p><h3>9. Team Leadership</h3><p>Build and lead a specialised QA team with expertise in AML/CTF and sanctions.</p><p>Ensure adequate training, competency frameworks, and performance management.</p><p>Promote a culture of objectivity, rigor, and professional scepticism.</p><h3>Experience&Qualification</h3><ul><li>5 years’ experience in Compliance Management, Audit, Regulatory experience</li><li>Bachelor's degree will be preferable law and or economics, finance, risk</li><li>AML, ICA diploma or equivalent</li><li>Good understanding of protocols and procedures to be compliant with UAE regulations and requirements.</li></ul></div>#J-18808-Ljbffr