Sanctions Manager (UAE National)

Job description

Job description

Sanctions Manager (UAE National)

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Risk and Compliance is a Second Line of Defence (LOD) function, responsible for reviewing and challenging the activities of the Group’s businesses (also referred to as ‘the First LOD’) to ensure that they effectively manage as ‘Risk Owners’ the risks inherent in or arising from the conduct of their activities and for which they are responsible. The Second LOD consists of 'Risk Stewards' who are independent of the commercial risk-taking activities undertaken by the First LOD. The Risk and Compliance function is a Risk Steward for a number of financial and non-financial risks in accordance with HSBC Group’s risk framework.

Role Overview  
The Job holder supports Management in meeting their policy and regulatory obligations by providing an active support in the implementation of Sanctions policy in compliance the UAE Central Bank regulations, HSBC Group’s Global Policies and Principles and international standards.
The jobholder assists the Senior Manager in conducting Sanctions reviews, mitigating Sanctions risks for the bank to  foster a compliance culture in the Bank, and comply with applicable Group policies and standards and local laws and regulations in order to prevent criminal sanctions. 
In the execution of Sanctions duties, the job holder must independently handle the tasks assigned to him/her and be able to take decisions on matters within their designated authority. The job holder must be able to independently analyze and critically evaluate the responses received without much supervision and escalate as appropriate.  
The person will be responsible for the providing Sanctions guidance relating to their assigned area of responsibility to the relevant business areas and country Compliance within the MENAT countries

Duties & Responsibilities  
•    Help in managing and coordinating Sanctions Compliance for the UAE and MENAT region countries.
•    Staying up to date on any new/amended material laws, rules and regulations and Group Policies, assess their applicability to the business areas and guide the business accordingly ensuring all appropriate processes and procedures are amended to comply.
•    Assisting Senior Manager Regional Sanctions Advisory and country Compliance in their responsibility for complying with all relevant Laws, Rules, Regulations and Group policies related to sanctions 
•    Evaluating and monitoring existing procedures and develop new procedures, systems and controls with specific focus on common systems, off shoring initiatives to minimize the risk of the firm being used for financial crime and ensure the business is compliant with current sanctions requirements
•    Proactively assist Senior Manager Regional Sanctions Advisory supporting business and country compliance functions to operate in a compliant manner.
•    Provide guidance to business areas on sanctions risk and exposure related to customer account opening and transactional activity in more complex situations.
•    Provide guidance to regional project teams and compliance representation on any sanctions related systems project for the region.
•    Provide advice on compliance & Sanctions issues that arise through the country compliance functions
•    Liaise with the Compliance teams on matters relating to Sanctions. 
•    Support the Regional Sanctions team by providing back-up coverage for leave and vacation.
•    Support Senior Manager Regional Sanctions Advisory on country compliance reviews
•    Conduct sanctions advisory reviews on customer relationships to assess their sanctions risks and provide recommendations to mitigate and control the risks. 
•    Arrange for Customer or Transaction Sanctions Risk Approvals for the clients and transactions which are identified to have sanctions exposure in accordance with HSBC’s risk appetite and applicable policies and procedures.
•    Raise exceptions through Internal Events reporting system and make decisions on reporting to senior management. Ensure a review all cases on a quarterly basis and provide updates where necessary or close cases where action completed. 
•    Immediately escalate to MENAT Head of Sanctions or Senior Manager Regional Sanctions Advisory as applicable any material breaches or potential breaches of Laws, Rules and Regulations

Requirements

Experience & Qualifications:
•    Graduation degree is REQUIRED– to secure a UAE Visa and Work Permit
•    The jobholder must have at least 1 years’ experience in Financial Crime Compliance, ideally having a background in AML /Sanction risks.
•    Experience within the UAE market including regulatory environment.
•    The ability to multi-task across many fields involving potentially complex projects and multiple teams.
•    Proven communication and influencing skills with the ability to communicate and in writing at all levels.
•    An excellent command in English.

For further details and application information please visit our careers site. (0000L4XJ)

We support our staff to adopt flexible and alternative ways of working where possible, including working from home and different hours subject to approvals.

HSBC is committed to building a culture where all employees are valued, respected and opinions count. We take pride in providing a workplace that fosters continuous professional development, flexible working, and opportunities to grow within an inclusive and diverse environment. 
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Issued by The Hong Kong and Shanghai Banking Corporation Limited.