Officer, Sanctions

Website Almarai

Job Description:

The Sanctions officer is responsible for the monitoring and investigation of sanctions, PEP or Adverse Media alerts and should ensure timely reporting of any sanctions true matches or breaches. As well as, participate in customer activity reviews pertaining to Sanctions or adverse media

Job Responsibilities:

  • Complete the periodic KYC refresh of the Bank’s correspondent banking relationships as required.
  • Assist in providing support on the optimization and operation of the sanctions compliance systems.
  • Ensure timely response to information/ advice requested by the Banks Internal Business units in accordance with the Banks Sanctions/ AML / KYC policy.
  • Perform thematic reviews of customers based on external or internal triggers or as directed by the Sanctions Manager
  • Maintain, Track and Update Sanctions SOP / Policy in consultation with the Sanctions Manager or the Head of Financial Crime.
  • The jobholder is accountable for providing accurate and timely information to the Manager Sanctions on all sanctions related matters and for ensuring compliance with relevant local and international regulations, specifically, OFAC, UN, EU, UAE and OFSI.
  • Review of sanctions alerts which have been escalated for further analysis by the L1 and or L2 team in India in order to determine whether there is a true match or a false positive as per the Bank’s internal procedures.
  • Maintain supporting documentation and evidence of the analysis conducted, including a detailed explanation as to why an alert has been discounted or escalated for further review as a true match.
  • Escalate sanctions matches and policy breaches and support on the resolution of sanctions alerts to ensure compliance with international sanctions standards. Review transactions which have been referred to Compliance from the Bank’s remittance and trade finance teams due to identified AML/CFT and Sanctions high-risk factors.
  • Review of Requests for Information (RFIs) received from the Bank’s correspondent banks within the agreed turnaround times. The role holder is expected to review the information prior communicating with the correspondent.

Job Requirements:

  • 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.
  • Well informed about PEP classification
  • 4 years of experience in the banking/financial services sector with a minimum of 2 years in compliance function
  • Bachelor’s Degree

Job Details:

Company: Almarai

Vacancy Type: Full Time

Job Location: Dubai, UAE

Application Deadline: N/A

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