AVP- Compliance System Governance - Monitoring & Validation  - Other Compliance Systems (UAE National) - #58019

First Abu Dhabi Bank (FAB)


Date: 1 week ago
City: Abu Dhabi
Contract type: Full time

Now it’s your time to join the #1 bank in the Middle East and one of the most prestigious financial companies in the region. Shaking up the world of banking requires a lot of smarts and skill. We’re looking for the brightest and best to help us reach our goals and we’ll also help you reach yours. Your success is our success as you grow stronger in your career. Join us and leave a legacy of your own, as a pioneer in both the company and the industry.

Job Description

Job Purpose:

To be part of the Compliance System and Model Validation function team and to achieve below objectives with a focus on Fircosoft deployments across the group:

  1. Help in development and implementation of Fircosoft System Governance Framework (Comprehensive framework consisting of automated control processes with a view to prove/validate system performance thereby improving overall control environment and regulatory performance in Fircosoft models) for Fircosoft deployments across the group.
  2. Develop programs and automated procedures to deploy the automated controls that constitute the System Governance framework.
  3. Monitor and validate system and data architecture performance on a periodic basis using control and reconciliation mechanisms deployed as part of the system governance framework.
  4. Build testing and monitoring controls in order to ensure that the models deployed in bank are working as intended and capable enough to recommend for any changes in the system functionality or configurations which are found as part of the reviews.
  5. Experience in analysing the settings in the Fircosoft system and validate it against the industry benchmarks or standards.
  6. Good Understanding in various sanctions risk/red flags, in order to validate it against the nature of the risk arising from the data of transactions and customer emanates from different businesses.
  7. Good knowledge in rules management “Tuning”, List management and Change governance process to review the current designs and verifying the operating effectiveness of the design.
  8. Undertake random control testing on Fircosoft architecture (system + data architecture) on a frequent basis and recommend relevant remedial measures.
  9. Undertake periodic assessments of the Firsosoft landscape as per GIA and regulatory expectations.
  10. To support the input and development of specific Compliance System Validation Control Testing KPIs / KRIs for reporting purposes
  11. To identify areas of further improvement to enhance the compliance systems control environment.

Job Specific Accountabilities:

Job Specific Accountabilities

Policies, Systems, Process & Procedures

  • Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that the work is carried out in a controlled and consistent manner.

Governance of the Fircosoft Landscape

  • Support the development and implementation of the Fircosoft System Governance Framework i.e., a comprehensive framework consisting of Control and validation processes that test production system settings/parameters/configuration/mapping/design attributes against desired system settings/parameters/configuration/mapping/design attributes.
  • Develop scripts/programs/code procedures on a range of technology and analytics platforms to support the implementation of the Fircosoft System Governance Framework.
  • Monitor the control mechanisms/processes implemented via dashboards, auto-generated reports and ad-hoc script-driven database queries.
  • Evaluate the control mechanisms/processes.
    • Data feeds/ETL pipelines across the entire data architecture (source to Compliance system).
    • filter performance (based on configuration, algo settings, rules, list etc.,)
    • Alert queues.
    • Case management and workflow aspects.
    • Reporting mechanisms.
    • Overall impact of any failures on the Sanctions program.
  • Develop a report at the end of each review to capture the findings with the root cause of the issue/risk and disseminate the reports to senior management.
  • Oversee the progress of the issues and ensure that the issues are remediated on time.
  • Undertake end to end testing of the system with respect to the adequacy of sanction risk coverage, defined parameters in the configurations, and product to sanctions risk coverage mapping.
  • Review the methodologies and validate the latest risk assessment, performance analysis and other screening controls established in the overall framework.
  • Ensure the changes are in line with the enterprise change management process and review the controls followed.
  • Develop regular monitoring and validation reports for senior management that outline the below aspects:
    • Results of the automated control processes/mechanisms.
    • System/data failures and their impact on the Sanctions program.
    • Validation of remediation undertaken and independent assurance pertaining to the remediation.
    • Results of random, independent control-testing.
    • Overall performance of the Sanctions landscape and recommendations to ensure model performance continues to meet requirements.

Periodic assessment of Sanctions landscape and models

  • Using the Fircosoft system governance framework, undertake periodic reviews of the Firco models across the network with a focus on below aspects:
    • Risk mitigation of findings from Risk assessment related to system governance.
    • Source systems and overall data architecture.
    • Overall IT governance and adherence to defined SDLC procedures.
    • System/filter configuration and performance.
    • Data lineage and Data Governance aspects.
    • Alert adjudication process.
    • Case management and workflows
  • Based on assessment, submit detailed report to senior management with findings and actionable recommendations.

Specialist in Firco suite

  1. Good knowledge in the Fircosoft products such as Firco Continuity, Firco Trust and Firco screen and Keep (FSK).
  2. Good understanding of Firco Rules, List management and filter settings.
  3. Experience in the Firco Backend components and good understanding in the various component’s rules (Decision reapplication, Paring, Stripping etc).
  4. Experience in data governance is desirable.
  5. Understanding of Data warehouse, Master Data management and Data Lake concepts is desirable.
  6. Good knowledge in alert adjudications principles or Quality Assurance.
  7. Undertake development of custom applications/scripts using common data analytics and technology platforms (SQL, Python, PowerBI etc.) in response to specific requests.
  8. Develop custom dashboards to provide updates to senior management using common visualization platforms (PowerBI or Tableau).

Technology

  • Assist in producing procedures and processes aligned to Group Compliance Policy.
  • Assist in building automated systematic control using latest technical stacks.
  • Assist in cross training the other team members.
  • Reporting

    • Collaborate with Compliance SMEs to develop Compliance systems validation related MI dashboards.
    • Develop periodic review plan and report the status of the reviews to senior management.
    • Follow up the pending issues which was reported as part of previous review and ensure that are all closed on time.
    • Assist in building annual review plan according to the regulatory requirements/GIA/any adhoc requirements.

    Qualifications

    Minimum Qualification

    • Graduate qualifications in economics, computer sciences, mathematics, financial studies, legal, law or business studies preferred. Post-graduate qualifications with a mix of finance, law, economics and computer science majors highly desirable.
    • UAE National with Family Book

    Minimum Experience

    • 6 to 8 years of experience with European or North American financial institutions, regulators and/or professional services firms with a focus on Financial Crime Technology and Analytics work streams/services.
    • Proficiency in coding on SQL, Python and R. Experience in development of reports and dashboards using Power BI/Tableau.
    • Experience in development of AML scenarios on leading platforms, replication of scenario logic in SQL and/or Python. Understanding of typology/red flag assessment. Experience with SAS AML essential.
    • Proficient in the use of data mining, analysis, and statistical techniques to perform/enhance customer segmentation, set AML scenario thresholds subject to segment-level distribution and perform ATL/BTL testing to tune thresholds etc. Experience in using machine learning models to implement effective segmentation and behavioral thresholds (ex – k-means clustering). Knowledge of solutions such as Siron AML, SAS AML, NICE Actimise and FCCM etc. highly desirable.
    • Extensive experience in data analysis, mining, wrangling and engineering techniques. Extensive experience in SQL and ability to develop stored procedures, write dynamic T-SQL and custom functions etc.
    • Experience in developing ETL scripts to extract, transform and load data. Ability to analyze existing scripts and code snippets to optimize them.
    • Excellent understanding of IT and system controls and experience in designing controls based on system functionality.
    • Good understanding in Data Governance principles and experienced in creating Data Quality monitoring and testing rules along with Data reconciliation concepts.
    • Good experience in understanding the AML concepts, if ACAMS certified is added advantage. sss

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