effect name for ae

You are most likely thinking about film burns (a transfer defect), filmstock regristration marks, or more widely, just marked filmstock. Registration marks are used to calibrate lenses for transfer, and to mark the beginning and end of a reel so you don't mess up the film by running it till the one end escapes the machine... alongside simply writing for editors cinematographers to communicate or sign their work on parts of the stock that they expect to be removed or not make it into the final version, things like arrows to denote where to make a cut, that sort of thing. Damage is what it sounds like, scratches, scrapes, and whatnot, and it wasn't exactly uncommon to use markers on film either.

https://www.shutterstock.com/video/search/film-edges
https://www.youtube.com/watch?v=EuiTjUA8dkU
https://www.youtube.com/watch?v=Q_xaLlXN6Ok&list=PLNBTeNALL4VHSVpp6gagocZWs3OWi-viw

As for the arrow, that kind of effect is gotten by drawing on a negative using a marker and by scratching it for the other marks. It looks to me, however, that the effect was made just by drawing with markers on paper, and taking a picture, before using it as an overlay with a blend mode.

The trick is that the color is often a negaive of a colored marker on clear film, or the light used is the color of an incandescent bulb transferred to film, so you'll want to grade hand drawn elements so that the dim colors are more saturated. Then it should look like a film burn.

It looks like a graphic overlay with a blur or glow effect added and a Screen or Add blend mode. I don't know of any effect that would generate a hand-drawn arrow like that.