Vinay Sharma

As the authorized Compliance Head and MLRO sanctioned by the Central Bank of the UAE, my role encompasses overseeing the Compliance function at the UAE branch of the Bank of Khartoum. In addition, I also overlook the Compliance function of the Bahrain branch of the Bank. Established in 1913, the Bank of Khartoum is the largest banking group in Sudan, operating under Islamic Banking Standards and Principles. Notably, approximately 35% of the Bank's shareholding is contributed by prominent Islamic banks in the UAE.

Achievements'

• Successfully designed and implemented a highly effective Financial Crime Compliance Program, ensuring robust measures were in place to detect and prevent financial crimes.
• Established and managed a comprehensive Risk Assessment Framework for Money Laundering and Sanctions Compliance, covering diverse areas such as products, services, clients, customers, and associated matters, resulting in enhanced risk mitigation and compliance.
• Provided guidance and support to various business groups, enabling them to develop and implement essential processes and procedures that align with regulatory standards, fostering a culture of compliance across the organization.
• Actively participated as a key member of Senior Management Committees, contributing to strategic planning, management governance, compliance, and oversight, resulting in well-informed decision-making and adherence to industry best practices.
• Represented the bank at important forums, meetings, and banking seminars, effectively communicating the bank's stance, sharing insights, and staying updated with the latest industry trends and regulatory developments.

Glomax Exchange, a recently established start-up, holds a license from the Financial Services Regulatory Authority (FSRA) of ADGM (Abu Dhabi Global Market). Operating as a Virtual Asset Service Provider (VASP), Glomax offers a platform for Virtual Asset trading and custody, leveraging the benefits of blockchain-based open distributed ledger technology.

As part of my accomplishments, I successfully spearheaded the development and execution of various Compliance and Anti-Money Laundering (AML) programs in compliance with ADGM regulations. These initiatives encompassed the formulation of key policies such as the Compliance Policy, AML & Financial Crimes Policy, as well as the implementation of AML Risk Assessment, and Customer On-boarding standards.

Furthermore, in addition to my daily supervision of the Compliance department, I played an instrumental role in guiding and evaluating procedures and policies across different functions within the organization. Additionally, I provided oversight for the IT Unit, ensuring that the technology systems were fully prepared for commercial operations.

Led the Bank's Reg-Tech Compliance efforts, spearheading the adoption and adaptation of new technologies to meet evolving regulatory expectations efficiently and with agility.

Successfully ensured the seamless transition of relevant processes to incorporate new capabilities, effectively eliminating any gaps in meeting regulatory requirements.

proactive identification and implementation of innovative solutions to enhance compliance practices, leveraging emerging technologies to streamline processes and improve overall efficiency.

Collaborated with cross-functional teams to align technological advancements with regulatory obligations, fostering a culture of compliance while embracing the benefits of digital transformation.

Demonstrated a strong commitment to staying up-to-date with regulatory developments and technological advancements, continually evaluating and implementing best practices to maintain compliance readiness in a rapidly evolving regulatory landscape

Effectively led and supervised the compliance functions at the Bank's overseas branches as the Head of International Banking Compliance.

Demonstrated strong leadership and managerial skills in overseeing and ensuring compliance with regulatory requirements and standards across multiple international branches.

Collaborated with local compliance teams at the overseas branches to provide guidance, support, and strategic direction, ensuring consistency in compliance practices and adherence to global compliance standards.

Successfully collaborated with various business verticals such as Corporate Banking, SME, Private Banking and Retail Baking teams to handle compliance function, overseeing client onboarding, product development, and regular monitoring to ensure adherence to regulatory requirements.

Provided oversight and guidance to various compliance functions, ensuring the implementation of effective monitoring, control, and risk assessment methodologies to detect and prevent money laundering and terrorism financing.

Offered guidance to the business Governance functions within the Retail and corporate Banking Divisions, ensuring the establishment of robust monitoring, control, and risk assessment methodologies to detect and prevent money laundering and terrorism financing.

Conducted a comprehensive Quality Assurance exercise on compliance functions, assessing their performance, and providing senior management with key observations, recommendations, and ensuring their timely resolution.

Successfully collaborated with business teams, control functions, and other compliance teams to deliver compliance projects and implement regulatory initiatives, consistently evaluating compliance issues and taking appropriate actions to enhance their effectiveness.

Demonstrated strong collaboration skills by actively engaging with cross-functional teams within the organization, fostering a culture of compliance and regulatory awareness.

Leveraged knowledge and expertise in regulatory frameworks to assess risks, identify potential gaps, and propose appropriate measures to mitigate risks and ensure compliance throughout the organization.

Acted as a trusted advisor to the business, offering guidance on regulatory matters, promoting adherence to best practices, and ensuring effective risk management and compliance practices were in place.

Actively participated as a member of various Country Management and Governance teams, including MANCOM, Operations & IT, FATCA, and the Risk Management Committee, playing a key role in crucial decision-making processes for the country.

In my diverse roles within Compliance at Mashreq, I assumed the responsibility of being a central point of contact for addressing compliance issues and mitigating the bank's regulatory risk.

A key aspect of my role was to ensure that the Retail & Corporate Business Groups adhered to regulatory requirements by implementing robust compliance measures.

In the role of overseeing and mitigating operational risk, my responsibilities encompassed monitoring and managing operational risk across 12 branches of the bank.

I conducted comprehensive audits of RBG branches to review branch operations and processes, aiming to identify any gaps in operational controls. Based on the findings, I devised actionable plans to address and mitigate the identified gaps.

To improve overall productivity and efficiency, I implemented streamlined workflows and standardized processes across the branch network.

Additionally, I played a pivotal role in the development and revision of Standard Operating Procedures (SOPs) for both new and existing processes, ensuring clarity, consistency, and adherence to best practices throughout the organization.

As the individual accountable for overseeing the customer service operations, my responsibilities included strategizing, managing, and aligning the activities of frontline branch personnel to deliver exceptional customer service. I diligently ensured strict adherence to operational guidelines while providing a world-class customer experience.

Additionally, I took charge of managing various customer services, such as cash handling, clearing, and ATM operations. A crucial aspect of my role involved reviewing account opening documents to verify compliance with Know Your Customer (KYC) regulations and ensure the completeness and accuracy of account-related documentation.

I began my career journey with ANZ Grindlays Bank in India, which subsequently merged with Standard Chartered Bank. Throughout the years, I gained valuable experience working in different units across the bank's network, including Corporate Banking, Retail Banking, Sales, Customer Service, and Branch Operations.

During this time, I also took on responsibilities in general management and team coordination to drive overall branch growth in the region. This involved creating and organizing a comprehensive database of the branch's catchment area to identify potential customers and enhance market penetration, aiming to secure a greater share of the customer's wallet.

In addition, I actively participated in various projects during my tenure, leveraging my expertise to contribute to the successful execution of these initiatives.