Dubai, United Arab Emirates
At Mashreq, my focus is on fortifying our compliance framework with an analytical and proactive approach to financial risk management. Our collective efforts are critical for navigating complex regulatory landscapes, ensuring that our cross-border financial activities uphold the highest standards of integrity and compliance. With a refined skill set in sanctions screening and anti-money laundering investigations, the team I lead plays a pivotal role in safeguarding the bank's operations. Mastery in utilizing advanced tools like Fircosoft, along with leveraging insights from Lloyd's Intelligence and the International Maritime Bureau, enables us to execute meticulous sanctions reviews and enhance our due diligence processes. My commitment to combating financial crimes and terrorist financing is demonstrated through the meticulous scrutiny of transactions, contributing significantly to Mashreq's esteemed reputation for compliance excellence.
– Handling Corporate Investment Banking group (CIBG)/Private Client/Retain Banking customer USD/BOC/AED/Qatari Riyals cross border account L3 level sanctions review. – Validating Sanction Vessel/HO Iranian Customer List/SDN list customer/BIS customer list. – Review on various level of sanctions checks on all type shipments include Transshipment/ Bunkering vessel/STS and Tanker vessel through external source Lloyds Intelligence and International maritime Bureau. – Subject Matter Expert for managing money laundering and terrorist financing issues, including policies, procedures, regulations, industry best practice, criminal typologies and developing trends – Handling all Business as usual (BAU) related activities on regular basis include MIS reporting / Training and development on subject expertise to new staffs and advisory role as well. – Adhering to OFAC, EU, Central bank of UAE and International regulatory requirements. – Additionally, reviewing the document/alerts in the scope of FATF, EU directives requirements – Expertise in Risk Matrix and Compliance culture
• Handling Level 3 Compliance review on Outward USD payments by investigation Sanction Vessel/HO Iranian Customer list/SDN list customer. • Ensure all the shipment/Vessel/Tanker Track from external source Lloyd Intelligence/International Maritime bureau. • Understand the Nature and Purpose of Outward Payment structure, Customer EDD and Account Due Diligence processes of the Bank in order to effectively deliver the EDD program for FCY cross border trade transactions. • Conduct sanctions checks on USD payment from fircosoft applications • Perform EDD on payment from High risk jurisdictions/dual use goods.
Sanctions screening and Payment operation include Trade payments and Correspondent Banking Transactions (SWIFT payment and Vessels sanctions) with Trade Finance operations under UAE regulations.
• Investigation on alert specifically related to Financial Crime (TAX fraud, Money Laundering, Law suit Complaint filed cases , Sanction Trade/Entities/Individuals, Denied entities , Regulatory penalties cases • Working on various PEP and Sanction (SDN) entities screening lists like, OFAC, UN, EU, UK. Also knowledge of UAE Jurisdiction lists. • Compare and validate on name screening include fuzzy match, False positive and True match result from RDC application. • Validating PEP and adverse media screening on any materials concern information. • Analysis on regular updates on SWIFT messages/Wire Transfer/ACH/FEDWIRE/CHIPS transactions specially investigate on incoming and outgoing/ suspicious. • Handling AML related escalation cases and coordinate with AML-US compliance team for next level on various financial crimes (corporate fraud, securities fraud (including insider trading), bank fraud, insurance fraud, market manipulation, payment (point of sale) fraud, health care fraud); theft; scams or confidence tricks; tax evasion; bribery; embezzlement; identity theft; money laundering; and forgery and counterfeiting,) • Special enquiry on regulatory filed and business sanction related penalties cases and Politically Exposed person (PEP) true match client. • True Match cases of AML/CTF immediately escalate to NY Compliance and get regular update specific on GM/GCF products. • Conduct due diligence and document specific risk relevant background information about client, their business and associates. There by secure the bank from fraudulent activity and thereby safeguarding the reputation of the bank.
Area of Operation :- Enhance due diligence & Transaction Monitoring analysis Responsibilities :-Investigation on Transaction Surveillance for ACH Transaction and other wire payment . Escalations on suspicious transaction and incomplete information. Identifying, escalating and taking steps to mitigate risks. Working on Individual accounts and legal entities and conduct Enhance due diligence toward specific risk factor specific toward Ward , Minor , Deceased and Suspicious Customer Report accounts . Research, verify and report cash transaction above US $10,000 done at all retail and private branches to the FinCEN as a regulatory requirement. Auditing the bank accounts of retail customers to ensure the Bank Secrecy Act (BSA) policies and procedures are in accordance with Federal laws and regulations. Overall review of BSA, Anti- Money Laundering (AML) & Financial Crimes Enforcement Network ( FinCEN ). Screening the client and connected parties in world check and public domain . Analysis on Trigger and alerted accounts through Mantas application and conduct due diligence through Lexis Nexis along with AML Legacy database to understand specific case on Politically Exposed person(PEP)/Senior Politically Figure(SPF) , Suspicious Activity Report(SAR) cases and perform Sanction Screening on Legal Entities and associated connected parties through Lexis Nexis Bridger .. Perform Enhance Due diligence on Legal Entities accounts (Partnership/Trust/Sole Proprieter/Charities,PLC/LLC) by investigate on atlerted account and review on sourced documents along with Public domain for High Risk Client . Handling previous escalations cases and Identity theft cases to maintain track record and action accordingly latest procedures and policy. Responsible for analyzing the Possible Suspicious Activity Report received from AML Department and reporting to Internal/External Auditors and Regulations.
• Conduct KYC on all Kinds of FATCA Tax form on Kofax Software and perform Compliance rule during On-Boarding process and validate FATCA forms based on entity type . Investigate escalations on various FATCA Tax forms and perform reporting on FATCA classification on US specified and Non-US specified . FATCA Onboarding on various Tax form (W9,W8,W-8BEN,W-8ECI,W-8IMY,W8-EXP) and Identify the TIN/EIN SSN/FEIN number based on location and entity status (Specified US or Non Specified US). Worked on FATCA Common reporting standard (CRS) and perform remediation process on Entity self certification and Individual self certification. Analyzing on Withholding statements attached with W8 IMY Forms and checking their allocation percentage. Perform W-8 IMY parent child mapping analysis sheet for all flow through child entities . Handle Bank of America project for client On-Boarding for KYC operation (Article of Association, Certificate of Incorporation, High Risk Questionnaire) and remediation as per requirements. Compare the Astrus data (External Data source) with Change Data and finalize reconciliation report.
Remediation process on Legal Entities mainly regulated from Financial Conduct Authority(FCA) Regulator operating/incorporation in United Kingdom. Regularly monitor and investigation on on recent regulation and work with closely onshore client to ensure adhere compliance policy. Initiative on new business procedures and ensure proper due diligence process by providing timely and comprehensive advise from quality team/Compliance team Perform due diligence inquiries on Limited company ,Public limited companies ,Sole Trader, Executor NBFI , Charities , Trust , Church and Government Owned University /Schools organizations suspected of money laundering crimes ,Bribery ,Corruption & terrorist financing crimes, by conduct research on Regulatory Bodies, Registries, research and analysis of public records, commercial databases, global media sources, Bloomberg and Morning star. Investigate on special cases that require report to Financial Crime Compliance Team (high risk business, sanctions, PEP, reputations risk, sustainability or any other sensitive categories). Research and analyze the trend of ATM and Vault transactions and report to higher management. Customer screening for negative information & Red alert through Lexis Nexis / World Check/Factiva & Mantas and maintain guidelines provided by OFAC and UK Compliance Team. Verification on Global Sanctions and Reputation Risk screening on all customers and related parties/Subsidiaries/Authorized Signatories for different entity types . Undertaking responsibilities of removing unnecessary procedures in processes; ensuring uniformity in the process understanding at the client’s and the organization’s end. Assist in drafting and documenting policies, procedures and processes as and when required. Complete Internal certification and training for AML/CFT & Sanctions screening Work with all Business functions (Relationship Managed profile, Portfolio Manage profile, KYC operations, AML, Quality Assurance).