Compliance Director | Dubai, UAE

Sumitomo Mitsui Financial Group, Inc.; Dubai; On-site; AED 600,000 - 900,000; Full time

Benefits offered by this job

Hybrid working

Private medical insurance

Life and disability insurance

Learning and development

Career progression

Job summary

SMBC Group’s DIFC Branch in Dubai seeks a Compliance Director to lead the regulatory compliance program across the region. You will shape policy, advise senior leadership and ensure alignment with local and international regulatory expectations.

The role carries Authorised Individual status in Dubai and controls functions in Doha, with four direct reports. You will work with regional leaders to embed three lines of defence and uphold the highest standards of conduct.

Qualifications

• Educated to degree level; professional qualifications desirable.
• Substantial knowledge of financial services regulatory framework.
• Experience in regulatory roles.

Responsibilities

• Ensure SMBC DIFC Branch and the region comply with regulatory requirements.
• Develop compliance programs and policies.
• Advise senior management on regulatory risks and actions.
• Communicate ethical principles, conduct standards and regulatory expectations.
• Lead and develop a team of four direct reports.

Skills

Regulatory knowledge

Strategic thinking

Diplomacy

Stakeholder management

Problem solving

Education

Degree level education

Job description

Compliance Director

Who we are

United by a sense of purpose towards our customers - to be a trusted partner for the long-term - and our universal banking platform in EMEA, SMBC Group has an international growth agenda and award-winning products, meaning we provide exciting opportunities to work on a diverse range of projects and initiatives. We deliver a full suite of corporate finance products and solutions to our customers as well as investment banking and advisory services, and a range of innovative solutions in global capital markets. Read on to find out how you could enhance your skills and gain valuable experience, by joining us to support our clients transition to a sustainable future.

Overview

• To ensure SMBC DIFC Branch - Dubai and the countries in the Region, comply with their regulatory requirements and internal policies.
• To develop compliance programs, maintain policies, and advise senior management on possible risks in order to remain within the regulatory permissions and expectations.
• Effectively communicate the Bank's key ethical principles, conduct standards and regulatory expectations.
• This role has 4 direct reports:
  • 1. CCG Compliance Advisory, Vice President
  • 2. CCG, AVP
  • 3. CCG, Associate
  • 4. CCG, Associate

Background

• The role is required to protect the Bank, its employees and its customers from regulatory risk.
• The role covers a multitude of compliance topics, including compliance education, advisory, monitoring, projects, reporting and regulatory liaison.
• The role has 'Authorised Individual' responsibility for Dubai.
• The role has a 'Controlled Function' responsibility for the compliance oversight function for Doha.
• The role requires close collaboration with the SEO, Regional Head of Middle East, other Local Management Committee members, Regional Chief Compliance Officer (RCCO), Chief Representative Officers, Head Office Compliance and all other EMEA compliance colleagues.
• The role requires an open and transparent relationship with the regulatory bodies and authorities across the Region.

Facts and Scale

• Six MENA jurisdictions (branches, representative offices and subsidiaries);
• 4 direct reports with the CCG team;
• Formal 'Authorised Individual' status in Dubai;
• Registered 'Controlled Functions' status in Doha;
• Managing relationships with Local Management Committee members, Chief Representative Officers, RCCO and multiple authorities and regulators across MENA; and
• To represent the Branch as LCO, per the DFSA regulatory requirements.
• To represent the Doha Branch as the registered compliance oversight officer, per QFCRA regulations.
• Develop and execute the departmental strategy, providing relevant technical and commercial input to establish the departmental objectives.
• Recruit, motivate, train, develop and supervise staff within agreed policies and practices to maintain an effective workplace capable of meeting its objectives.
• Formulate and gain acceptance for the annual budget to secure the resources necessary to achieve agreed work programmes.
• Influence senior management to embed the three lines of defence, establishing core principles and standards for compliance and conduct matters.
• Plan, prepare and maintain a compliance policy framework and associated training for MENA employees in accordance with the jurisdictional regulatory rulebook(s) and SMBC policies and procedures, advising employees on such matters.
• Act as a key point of contact for authorities and regulators regarding regulatory and compliance issues, and regulatory inspections.
• Assist the MHOC and RCCO to co-ordinate compliance related projects within the MENA offices, proactively responding to external challenges and regulatory developments, whilst challenging conventional thinking and developing innovative solutions.

Knowledge, Skills, Experience and Qualifications

Education & Qualifications

• The role requires the candidate to be educated to degree level with professional qualifications desirable.

Experience & Knowledge

• The role requires: substantial knowledge and experience of the financial services regulatory framework;
• prior knowledge within a regulatory role;
• good knowledge and experience of financial services, markets and banking activities;
• strong awareness of financial conduct areas;
• sound understanding of the business strategy;
• the ability to think strategically and execute appropriate course of action in line with regulatory parameters;
• diplomacy and logic to challenge concepts, policies and current practices;
• the ability to resolve complex, multi-dimensional problems, whilst inviting challenge resulting in a significant impact on the achievement of business;
• the ability to represent the Bank externally with regulatory authorities and governing bodies.

Competencies

• Customer Focus
• Driving Change
• Driving Results
• Embraces Diversity
• Enterprise Leadership
• Judgement and Decision Making
• Risk Management
• Strategic and Visionary
• Trust and Integrity

What we offer

For all the expertise and experience you bring to help us make a difference, it's only sustainable if we support you to build your career and be your best self so we offer competitive company benefits, centred around promoting positive well-bring and work-life balance. We also believe in fostering a diverse and inclusive work environment, where all team members perspectives and contributions are valued. Initiatives in place which promote a diverse and inclusive culture and healthy work life balance include hybrid working, Sport & Social Clubs and Diversity and Inclusion networks.

• Hybrid and flexible working
• Competitive paid leave days
• Benefits to support your physical wellbeing, including private medical insurance and life and invalidity insurance
• Various policies to support your mental wellbeing, including a robust behavioural health network with counselling and coaching services
• Access a wide range of learning and development opportunities and career progression opportunities
• Ambitious remuneration package

About SMBC

A trusted partner for the long term United by a sense of purpose towards our customers - to be a trusted partner for the long-term - and our universal banking platform in EMEA, we deliver a full suite of corporate finance products and solutions to our customers, including corporate, structured and trade finance, leveraged finance, loan market and treasury products. We can also provide investment banking and advisory services and a range of innovative solutions in global capital markets. Find out more about what we do and who we are at https://www.smbcgroup.com/emea/careers

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