Associate Vice President Compliance

National Bank of Kuwait; Dubai; On-site; AED 300,000 - 450,000; Full time

Job summary

A leading financial institution in Dubai seeks an experienced AVP - Deputy CO / MLRO. You will establish and oversee compliance strategies, ensuring adherence to regulatory requirements and preventing financial crime. Ideal candidates have over 15 years in compliance roles, relevant degrees, and certifications, and preferably speak Arabic. Applications should be sent to [e-mail] with the job title in the subject.

Qualifications

• Minimum 15 years in a Compliance role in the financial sector.
• Proven expertise in Financial Crime and regulatory frameworks.
• Hands-on experience in a regulated environment.

Responsibilities

• Establish and oversee effective compliance policies.
• Ensure adherence to regulatory requirements.
• Provide training on compliance matters.
• Act as a point of contact for compliance issues.

Skills

Compliance risk assessment

Anti-money laundering legislation

Regulatory requirements

Financial crime expertise

Training and development

Arabic language proficiency

Education

Post graduate degree

Bachelor’s degree in economics, commerce or law

Professional certification in banking and financial crime

Tools

CAMS certification

ICA certification

Job description

Job Title: AVP - Deputy CO / MLRO -DIFC

Overview

To establish and oversee an effective and sustainable Compliance Department, inclusive of policies, systems, resources and controls across the NBK UAE and DIFC Branches and ensure adherence to all applicable Regulatory requirements.

Responsibilities

DIFC Branch Compliance Duties

1. Assisting CO/MLRO in identifying the compliance risks facing the DIFC Branch and in designing and implementing policies, procedures, systems and controls that will enable the branch to comply with the legislation in the DIFC applicable to its financial services.
2. Documenting the organisation, responsibilities and procedures of the Firm’s compliance function including its Compliance Procedures Manual and Compliance Monitoring Programme.
3. Establishing and maintaining monitoring and reporting processes to ensure that any compliance breaches are readily identified, reported and acted on.
4. Keeping the senior management up to date on changes in relevant regulations and the implications thereof.
5. Advising the Firm in preparing for DFSA risk assessment visits.
6. Reviewing the Firm’s marketing materials.
7. Assisting CO/MLRO in Processing applications for the registration and withdrawal of Authorized Individuals.
8. Ensuring that directors, officers and employees receive training on what must or must not be done to ensure that they and the DIFC Branch comply with applicable laws and regulations.
9. Liaising with DFSA and checking that all regulatory returns and ad hoc notifications have been submitted on a timely basis.
10. Establishing and maintaining the DIFC Branch files and registers in relation to controllers; senior management apportionment; authorised individuals; breaches; complaints; conflicts identification and management, marketing materials; clients, regulatory returns and notifications to the DFSA.

DIFC Branch - Deputy - MLRO Duties

1. Assisting CO/MLRO in identifying the money laundering risks facing the Firm and in designing and implementing policies, procedures, systems and controls that will enable the Firm to comply with the anti-money laundering legislation applicable in the DIFC.
2. Overseeing the Firm’s day-to-day operations for compliance with its anti-money laundering policies, procedures, systems and controls.
3. Acting as the point of contact along with CO/MLRO to receive internal Suspicious Activity Reports (SARs) from employees; taking appropriate action to (i) investigate the circumstances in which the SAR was made; and (ii) determine whether a corresponding external SAR must be made to the FIU; and, if required, making an external SAR to the FIU and sending a copy to the DFSA.
4. Acting as the point of contact along with CO/MLRO within the Firm for competent UAE authorities and the DFSA regarding money laundering issues and responding promptly to any request for information made by them and notifying the DFSA in writing of any such request.
5. Receiving and acting upon any relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions issued by the government of the UAE or any government departments in the UAE, the Central Bank of the UAE or the FIU, the Financial Action Task Force any UAE enforcement agency, the DFSA and the United Nations Security Council concerning:
6. • arrangements for preventing money laundering, terrorist financing or the financing of weapons of mass destruction in a particular country or jurisdiction, including any assessment of material deficiency against relevant countries in adopting international standards; and
7. • the names of persons, groups, organisations or entities or any other body where suspicion of money laundering or terrorist financing or the financing of weapons of mass destruction exists.

1. Establishing and maintaining an appropriate money laundering training program and adequate awareness arrangements for all relevant employees.
2. Overseeing the accurate completion and timely submission of the Annual AML Return

Qualifications

• Post graduate degree
• Bachelor’s degree in economics, commerce or law
• Professional certification in banking and financial crime
• CAMS or ICA certified or equivalent preferred
• Arabic speaker preferred

Experience

• At least 15 years of experience in the Compliance role in the financial sector and preferably in DFSA, ADGM
• Proven technical expertise in the field of Financial Crime, including DFSA, CBUAE and international laws, regulations, and best practice.
• Hands-on experience of working within a highly regulated environment along with a sound understanding of the current environment and key issue within financial services.
• Sound working knowledge of retail and corporate banking products is essential.

If you meet the above criteria, please send your application and CV to [e-mail] with the job title in the subject.

Due to a high volume of applications we receive, only shortlisted candidates will be contacted for an interview.