Compliance Manager

Al Ittihad Al Watani; Dubai; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading insurance company in UAE is seeking an experienced Compliance Manager located in Dubai. The role involves ensuring adherence to regulatory requirements, developing compliance programs, conducting audits, and fostering a strong compliance culture among employees. Candidates must hold a degree in Law or Finance and have at least 10 years in compliance roles, including managerial experience. Knowledge of UAE laws and strong communication skills are essential.

Qualifications

• Minimum of 10 years in compliance, risk, or regulatory roles.
• At least 3 years in a managerial capacity.
• Strong track record with regulatory bodies.

Responsibilities

• Ensure compliance with UAE Federal Laws and CBUAE regulations.
• Develop and implement compliance programs.
• Conduct audits and risk assessments.

Skills

Regulatory compliance

Risk management

Audit experience

Data protection knowledge

Education

Bachelor’s degree in Law, Business Administration, Finance

Master’s degree or professional certifications (CAMS, ICA, CCO, CRCMP)

Job description

Company Description

Established in 1947, Al Ittihad Al Watani is one of the pioneer insurance companies in the Middle East with a strong presence in Dubai and Abu Dhabi. Leveraging decades of experience and a deep understanding of the local markets, the company is committed to excellence and building trusted client relationships. This solid foundation allows for continuous growth and adaptation in the ever-changing insurance landscape.

Role Description

This is a full-time, on-site role located in Dubai, United Arab Emirates for a Compliance Manager. The Compliance Manager will be responsible for ensuring that the company adheres to all regulatory requirements and internal policies. Daily tasks include developing and implementing compliance programs, conducting regular audits, risk assessments, and investigations, liaising with regulatory bodies, preparing compliance reports, and providing training and guidance to employees on compliance matters.

Key Responsibilities

• Ensure full compliance with all applicable UAE Federal Laws, CBUAE regulations, AML-CFT requirements, sanctions regimes, and Corporate Governance standards applicable to insurance companies.
• Identify and assess transactions with potential links to money laundering, terrorism financing, or other financial crimes, and determine whether a Suspicious Transaction Report (STR) must be filed with the UAE FIU, ensuring that any decision not to report is properly documented and all confidentiality obligations are strictly upheld.
• Regularly review, update, and enforce internal compliance frameworks, rules, and procedures. Assess alignment with evolving laws and regulations; identify gaps and propose enhancements.
• Prepare and submit periodic compliance and AML reports to senior management and the Board. Provide a copy to the CBUAE with management’s remarks and documented decisions. Escalate material breaches or regulatory issues whenever needed.
• Develop, implement, and document regular training and awareness programs for employees on compliance, AML-CFT, sanctions, data protection, and governance obligations.
• Act as the primary point of contact with the CBUAE, FIU, and other authorities. Ensure timely submission of regulatory filings, facilitate on-site inspections, and provide full access to required records.
• Establish and maintain a risk-based compliance monitoring program covering operation, business lines, intermediaries, and outsourced functions. Ensure issues are tracked, remediated, and reported.
• Advise senior management and the Board on regulatory developments, compliance risks, and best practices. Promote a strong compliance culture across the company.
• Ensure compliance function’s independence, adequate resources, and direct access to the Board/Audit Committee as per CBUAE Corporate Governance Regulations.

Qualifications

• Education:
• Bachelor’s degree in Law, Business Administration, Finance, or related field (mandatory).
• Master’s degree or professional certifications (CAMS, ICA, CCO, CRCMP) are a strong advantage.
• Experience:
• Minimum of 10 years of progressive experience in compliance, risk, legal, or regulatory roles, with at least 3 years in a managerial capacity.
• Proven track record of interaction with regulatory bodies (CBUAE, FIU, or equivalent), including handling inspections, audits, and reporting obligations.
• Insurance or broader financial services industry experience is strongly preferred.
• Knowledge & Competencies:
• In-depth knowledge of UAE laws, CBUAE regulations, AML-CFT laws, sanctions, data protection requirements, and corporate governance standards.
• Strong understanding of risk management and internal control frameworks.
• Ability to design and execute compliance monitoring programs and training initiatives.
• Excellent written and verbal communication in English; Arabic strongly preferred.