Compliance Officer and MLRO

Client of Michael Page; Dubai; On-site; AED 120,000 - 180,000; Full time

Job summary

An established industry player is seeking a Compliance Officer to oversee regulatory compliance and AML activities. In this role, you will develop and maintain compliance policies, serve as the primary contact for regulatory authorities, and ensure adherence to all compliance requirements. You will also prepare regular compliance reports and provide guidance on compliance issues. This position offers an opportunity to work in a dynamic environment where your contributions will directly impact the organization's compliance framework. If you are detail-oriented and have a strong background in compliance, this is the perfect opportunity for you.

Qualifications

• Strong experience in regulatory compliance in an authorized or deputy position.
• Willingness to study towards a relevant Compliance/AML qualification.

Responsibilities

• Develop and maintain compliance policies and procedures.
• Act as the point of contact for regulatory and AML matters.
• Prepare compliance reports and monitor compliance activities.

Skills

Regulatory Compliance

AML Knowledge

Communication Skills

Attention to Detail

Organizational Skills

Teamwork

Initiative

Multi-tasking

Education

Compliance/AML Qualification

Job description

• Initiate, develop, maintain, and revise policies and procedures of the compliance framework and its related activities to prevent illegal, unethical, or improper conduct, in liaison with the CCO;
• Ensure the CCO is made aware of important DFSA communications and work with the UK compliance department to ensure the necessary changes are appropriately implemented into the branch's policies and procedures;
• The point of contact for the DIFC, DFSA and competent UAE authorities on regulatory and AML matters, liaising with the SEO and CCO - responding promptly to any request for information made by competent UAE authorities or the DFSA;
• To produce a weekly & quarterly 'Compliance & AML Report' and other ad-hoc MI or reports to the CCO and the SEO;
• Identify and keep an inventory available essential laws and regulation pertinent to the branch; provide advice with regards to the legislation when required;
• Undertake appropriate compliance checks and controls;
• Review account opening documentation for branch referred clients;
• Provide guidance to the business on permissible activities, new products and programs;
• Address any compliance audit remediation activities;
• Centralise all information on compliance-related issues (regulatory breaches, conflicts of interest, etc.);
• Respond to alleged breaches of rules, regulations, and policies, procedures by evaluating or recommending the initiation of investigative procedures;
• Develop and oversee a system for uniform handling of such breaches; exercise any specific legal responsibilities such as reporting suspicions transactions related to money laundering and the fight against terrorism financing;
• Maintain an effective compliance monitoring programme tailored to the branch's activities, including promoting understanding of new and existing compliance issues and related policies and procedures;
• The day-to-day operations for compliance with the Branch's AML policies, updating processes and manuals when applicable systems and controls, including assistance with the preparation of client take on document, KYC and AML reports;
• The point of contact to receive Internal Suspicious Activity Reports ("Internal SAR") from the employees of the Company and to the appropriate action following the receipt of an Internal SAR;
• Responsible for the submission of internal Suspicious Transaction Reports (STRs) to the Financial Intelligence Unit via the GoAML platform;
• Receiving notifications from Federal Bodies/DFSA and acting upon any relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions;
• Establishing and maintaining an appropriate AML training programme and adequate awareness arrangements for the staff members of the branch;
• Prepare & update Financial Crime & Compliance appendices to the UK Manuals, and AML Business Risk Assessment for board approval on an annual basis;
• Stay up to date with all compliance and AML laws and regulations pertaining to the operation of the branch.
• Undertake annually a minimum of 12 hours of Continuous Professional Development relevant to the Compliance & MLRO function.

The Successful Applicant

• Strong experience in regulatory compliance, in an authorised position or a deputy position (DFSA/FSRA)
• Holds relevant Compliance/AML qualification (or willing to study towards qualification)
• Aptitude to learn
• Team member (flexible attitude), including a willingness to assist with compliance and risk areas of the business
• Good verbal and written communication skills
• Professional personal presentation
• Organizing and planning
• Attention to detail
• Use of initiative to anticipating business needs
• Ability to multi-task
• Able to communicate with people at all levels