Compliance Officer (Exchange House)

Economic Exchange Centre; Dubai; On-site; AED 312,000 - 580,000; Full time

Job summary

Economic Exchange Centre is seeking an experienced Compliance Officer (Exchange House) in Dubai, UAE. You will establish and oversee the company’s compliance framework, ensuring adherence to CBUAE regulations, AML/CFT, sanctions, and regulatory reporting.

The role requires a CBUAE-approvedCompliance Officer, with extensive CB UAE experience in money exchange businesses, and the ability to engage regulators and lead audits.

Qualifications

• Must be currently approved, or previously approved, by the Central Bank of the UAE as a Compliance Officer for a licensed money exchange/exchange house.
• Minimum 12 years of compliance experience within a CB UAE-regulated entity.
• Minimum 5 years serving as a compliance officer within a UAE money exchange.

Responsibilities

• Act as the designated Compliance Officer approved by the Central Bank of the UAE.
• Oversee AML/CFT framework including CDD, EDD, and sanctions screening.
• Coordinate regulatory inspections, audits and examinations.
• Develop and maintain Compliance Monitoring Plans and regulatory registers.
• Liaise with regulators regarding filings and notifications.

Skills

Communication skills

Report writing

Regulatory knowledge

Education

ICA Diploma in AML or Compliance

CRCM or ACAMS certifications

CAMS certification

Tools

Automated transaction monitoring systems

Sanctions screening solutions

Job description

Job Description - Compliance Officer (Exchange House)

Location: Dubai, United Arab Emirates

Employment Type: Full-Time

Industry: Money Exchange / Financial Services

About the Role

We are seeking an experienced compliance officer. This is a Central Bank of the UAE (CBUAE) approved role, requiring an individual who is experienced as an approved Compliance Officer (holding CBUAE approval) within a UAE money exchange business.

The successful candidate will be responsible for establishing, maintaining, and overseeing the company's compliance framework, ensuring adherence to all applicable CBUAE regulations, AML/CFT requirements, sanctions obligations, and regulatory reporting requirements while fostering a strong compliance culture throughout the organization.

Key Responsibilities

• Regulatory Compliance
• Act as the designated Compliance Officer approved by the Central Bank of the UAE.
• Ensure ongoing compliance with all applicable
• CBUAE regulations
• AML/CFT regulations
• Sanctions regulations
• Consumer protection requirements
• FATF Recommendations
• Relevant UAE laws and regulations applicable to exchange houses.
• Serve as the primary point of contact with the Central Bank of the UAE for all compliance-related matters.
• Coordinate and manage all regulatory inspections, audits, and examinations.

AML / CFT & Sanctions Compliance

• Maintain and continuously enhance the AML/CFT framework.
• Oversee Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), PEP screening and sanctions screening.
• Ensure effective transaction monitoring systems are operating appropriately.
• Review and approve Suspicious Transaction Reports (STRs) before submission where applicable.
• Ensure timely reporting to the UAE Financial Intelligence Unit (FIU).
• Monitor compliance with UAE sanctions obligations and international sanctions programmes applicable to the business.
• Conduct periodic AML and sanctions risk assessments.

Compliance Monitoring

• Develop and implement the annual Compliance Monitoring Plan.
• Perform branch compliance reviews and inspections.
• Monitor compliance across all branches.
• Ensure corrective actions arising from audits and inspections are implemented.
• Identify compliance gaps and recommend remediation plans.

Regulatory Reporting

• Ensure all regulatory returns and submissions are completed accurately and on time.
• Maintain regulatory registers and statutory records.
• Liaise with regulators regarding regulatory filings and notifications.
• Ensure prompt escalation of material compliance issues.

Policies & Governance

Develop, review and update:

• Compliance Manual
• AML/CFT Policies
• Sanctions Policy
• Customer Risk Assessment Framework
• Compliance Monitoring Programme
• Regulatory Policies
• Ensure all internal policies remain aligned with regulatory changes.

Risk Management

• Conduct enterprise-wide compliance risk assessments.
• Identify emerging regulatory risks
• Monitor regulatory developments and assess their impact on the business.
• Develop mitigation plans.
• Present compliance risk reports to senior management.

Training & Awareness

• Develop annual compliance training programs & maintain training records.
• Deliver AML/CFT and sanctions training to branch staff and head office employees.
• Promote a strong compliance culture across the organization.

Continuous Improvement

• Recommend improvements to compliance systems and controls.
• Support automation of compliance processes.
• Lead compliance-related projects.
• Ensure the organization remains aligned with evolving regulatory expectations.

Mandatory Requirements

Applicants must meet all of the following requirements:

Currently approved, or previously approved, by the Central Bank of the UAE as a Compliance Officer for a licensed money exchange/exchange house.

Minimum 12 years of compliance experience within a CB UAE-regulated entity.

Minimum 5 years serving as a compliance officer within a UAE money exchange.

Strong practical knowledge of:

• CBUAE regulations
• UAE AML/CFT regulations
• FATF Recommendations
• Sanctions compliance
• UAE FIU reporting requirements
• Customer Due Diligence
• Enhanced Due Diligence
• Transaction Monitoring
• Regulatory inspections

• Experience managing CBUAE inspections and regulatory engagements.
• Certified Anti-Money Laundering Specialist (CAMS) certification.
• Excellent report writing and communication skills.
• Ability to work independently and engage confidently with regulators and senior management.

Preferred Qualifications

• ICA Diploma in AML or Compliance / CRCM or equivalent compliance qualification / ACAMS Advanced Certifications.
• Experience implementing compliance technology solutions.
• Experience working across multi-branch exchange operations.
• Experience with automated transaction monitoring systems and sanctions screening solutions.