SAIF ALI TOOR
Bur Dubai,UAE
Summary
Senior Manager specializing in AML and regulatory compliance. Enhanced KYC processes and implemented sanctions screening measures. Formulated policies and led cross-functional teams to improve financial crime risk management and operational efficiency.
Overview
15
15
years of professional experience
Work History
Senior Manager Financial Crime
Mashreq Bank
05.2022 - Current
- Led the AML and Financial Crime team, overseeing Investigation and Advisory units, including typology updates, trend analysis, product reviews, Digital payments and wallet, new process implementation, AML guidelines, SOPs, AML & ABC policy updates, sanctions screening, and coordination with the First Line of Defense (FLOD) on remediation plans to strengthen AML controls while enhancing client experience.
- Established and maintained strong regulatory coordination with CBUAE, SAMA, QFC, FIU, and Law Enforcement Agencies (LEAs) to facilitate information sharing and ensure timely and accurate regulatory reporting related to remittances and compliance matters.
- Worked closely with cross-functional stakeholders, presenting feedback in multiple governance forums on policy and process gaps, proposing remedial actions, customer risk assessments for retention, and introducing preventive controls to mitigate suspicious transactions.
- Manage Enterprise-Wide Risk Assessment (EWRA) gap analysis across all banking segments, identifying risk levels based on likelihood and impact, and ensuring effective mitigation through robust controls and strong internal systems.
- Developed and implemented a VASP banking framework to onboard licensed exchanges and brokers, conducting enhanced due diligence (EDD) and risk assessments covering collection accounts, pump-and-dump schemes, transaction monitoring, cross-border transactions, and wallet transfers, utilizing customized transaction monitoring tools for effective oversight and regulatory reporting.
- Implemented customized blockchain monitoring solutions using advanced analytics techniques, including geolocation, IP address tracking, wallet address analysis, device identification, fund clustering, and beneficiary profiling to enhance transaction monitoring and risk detection.
- Developed and executed departmental strategy and budget, including resource planning, system enhancements, policy and product gap assessments, workload management, quality improvement initiatives, and staff training programs.
- Represented the bank in engagements with correspondent banks, Money Services Businesses (MSBs), and Financial Institutions (FIs), explaining AML controls such as Transaction Monitoring, Real-Time Screening, Due Diligence frameworks, and High-Risk Client Onboarding Advisory, particularly for cross-border transactions.
- Managed thematic and full-scope inspections by CBUAE, articulating processes and policies to ensure compliance with regulatory expectations.
- Prepared and presented monthly Financial Crime Risk Portfolio reports to MANCOM, highlighting bank-wide risk appetite, emerging ML trends, and recommended actions to strengthen FLOD controls.
- Reviewed and optimized transaction monitoring scenarios by fine-tuning thresholds and reducing false positives based on performance analysis over the preceding six months.
- Implemented AI-enabled tools to enhance investigation efficiency through 360-degree account reviews and behavioral analytics.
- Applied data analytics to identify financial crime vulnerabilities, including structuring, inconsistent transaction patterns, hidden relationships, and ML/TF/TBML typologies.
- Managed complex transactions by identifying triggers across individuals, entities, counterparties, and segment-specific portfolios for further investigation and FIU reporting.
- Supervised detailed suspicious transaction investigations, including customer profiling, fund movement analysis, transaction channels, geographic exposure, counterparty assessment, AML typologies, red-flag identification, sanctions screening matches, International Maritime Bureau (IMB) checks for TBML alerts, and comprehensive 360-degree reviews to determine beneficial ownership and transaction purpose.
Senior Manager Compliance
Habib Bank Limited
03.2018 - 05.2022
- Mitigated money laundering and terrorist financing risks by coordinating with regulators and law enforcement agencies, facilitating timely investigations and submissions of Suspicious Activity Reports (SARs).
- Reviewed and approved HBL Wolfsberg Questionnaires and led discussions in correspondent banking conference calls to clarify AML controls, transaction routing through HBL channels, and downstream banking transaction approvals in compliance with OFAC and U.S. PATRIOT Act guidelines.
- Supervised Customer Due Diligence (CDD) process for Correspondent Banks and WBG/RBG accounts, verifying Ultimate Beneficial Owners (UBOs) and senior management details, assessing business jurisdictions, regulatory sanctions history, adverse media screening, and conducting periodic due diligence reviews throughout customer lifecycle.
- Led the Correspondent Banking AML Unit, overseeing and approving the onboarding of VOSTRO accounts, NBFIs, MSBs, and RMAs.
Manager Compliance
Habib Metro Bank
04.2013 - 03.2018
- Investigated AML queries to address potential profile breaches at individual and corporate levels.
- Developed and reviewed system functionalities for money laundering solutions, providing insights, analysis, and reporting on trends from post-transaction monitoring across all products.
- Conducted risk assessments based on regulations, laws, KYC, and bank policies to identify compliance gaps.
- Liaised with regulators and audit team to resolve observations and devise implementation plans.
Manager Regulatory Compliance
Burj Bank Limited
11.2010 - 03.2013
- Managed the annual regulatory inspection, collated data, and ensured compliance of the inspection report.
- Liaised with bank stakeholders and regulatory authorities, including Central Bank of Pakistan (SBP), to ensure compliance and address regulatory concerns.
- Collaborated with Internal Audit to gather pre-review and post-review observations, identifying gaps in processes and banking operations.
- Followed up on outstanding issues and escalated to process owners for resolution.
- Identify and anticipate environmental / external changes and the impact upon underlying risks and control effectiveness.
- Submission of Annual Clean Notes Policy confirmation, Annual Branch submission plan, Change of License to SBP.
Education
ACAMS -
Association of Certified Anti Money Laundering
08-2020
CCFC -
Chartered Certified Financial Consultant
01-2011
ACCA -
Association of Charted Certified Accounting
06-2010
BSC-Applied Accounting -
Oxford Brooks University
09-2007
LLB -
University of Punjab
01-2005
Bahelor In Commerce -
University of Punjab
10-2000
Skills
- KYC
- AML
- Regulatory Compliance
- Sanction Screening
- Fraud
- Forgery
- Investigation
- Data Analytics
- Formulating Policies
- Procedures
- Regulatory Update
- Project Management
- Banking Operations
- Team Leadership
- FCCM
References
Available on Request
Projects And Achievements
- Represented the Bank before multiple regulators, providing detailed explanations of AML controls, investigation and reporting processes, governance frameworks, internal quality assurance mechanisms, and technology enhancements in line with regulatory expectations.
- Designed and prepared monthly Financial Crime Risk reports for Management Committee (MANCOM) and Business Groups, presenting portfolio-wide financial crime risk exposure and risk tolerance assessments.
- Designed and implemented the Travel Rule framework for VASP onboarding, and deployed the Elliptic blockchain monitoring module to enhance transaction analytics, monitoring, and reporting, specifically for VASP customer transactions.
- Established and led a High-Risk Complex Investigations Unit, overseeing STR investigations related to sanctioned entities and individuals (including EU and OFAC sanctions on Russia and allied jurisdictions), out-of-pattern transactions, proliferation financing, structured transactions, DNFBP fund flows, trade-based money laundering involving general trading companies, trusts, NEOs, PEPs, and SDN identification and reporting across multiple portfolios (DMCC, FZCO, exchange companies, hawaladars, blue-collar professions, and other high-risk typologies) within the GCC region.
- Designed and implemented a comprehensive KYC Framework, including the Customer Acceptance Framework, Customer Due Diligence (CDD) methodology, CDD risk scoring matrix, screening protocols, documentation standards, and assessment of source of funds and business legitimacy.
- Certified Bank Compliance Trainer, delivering structured training programs on AML, regulatory compliance, and regulatory reporting.
Timeline
Senior Manager Financial Crime
Mashreq Bank
05.2022 - Current
Senior Manager Compliance
Habib Bank Limited
03.2018 - 05.2022
Manager Compliance
Habib Metro Bank
04.2013 - 03.2018
Manager Regulatory Compliance
Burj Bank Limited
11.2010 - 03.2013
ACAMS -
Association of Certified Anti Money Laundering
CCFC -
Chartered Certified Financial Consultant
ACCA -
Association of Charted Certified Accounting
BSC-Applied Accounting -
Oxford Brooks University
LLB -
University of Punjab
Bahelor In Commerce -
University of Punjab