Compliance Specialist

ruya; Dubai; On-site; AED 120,000 - 200,000; Full time

Job summary

A leading bank in Dubai is seeking a Compliance Specialist - Quality Assurance to oversee regulatory compliance and quality assurance activities. In this role, you will develop testing strategies, conduct systematic reviews, and communicate findings to enhance compliance frameworks. The ideal candidate will have extensive experience in financial services compliance, a strong attention to detail, and the ability to collaborate effectively across departments.

Qualifications

• Bachelor’s degree required.
• Experience in regulatory compliance and quality assurance roles (minimum 5 years).
• Professional certifications in compliance (e.g., CAMS, ICA) are a plus.

Responsibilities

• Conduct QA testing for compliance processes including KYC/AML and regulatory submissions.
• Identify compliance deficiencies and draft detailed reports.
• Assess effectiveness of existing compliance controls and processes.

Skills

Data analysis

Problem-solving

Regulatory compliance

Attention to detail

Communication

Education

Bachelor’s degree in finance, Business Administration, Law, or related field

Tools

Microsoft Excel

Job description

Compliance Specialist - Quality Assurance will be responsible for ensuring accuracy, completeness, and adherence to all relevant regulatory requirements across the bank’s compliance processes, reports, and data submissions. This includes a primary focus on regulations mandated by the Central Bank of the UAE (CBUAE) and other applicable authorities. The role involves undertaking systematic quality assurance reviews, identifying and documenting any non-compliance or gaps, and actively contributing to the enhancement of the bank’s overall compliance framework and controls to sage guard institution from regulatory risks.

Key responsibilities

Quality Assurance (QA) Review & Execution:

• Develop, implement, and execute QA testing strategies, plans, and test cases for various compliance functions, including but not limited to KYC/AML, regulatory reporting, consumer protection, sanctions screening, FATCA/CRS etc.
• Conduct thorough and systematic quality assurance reviews of compliance processes, controls, and outputs based on a planned schedule.
• Verify the accuracy, completeness, and integrity of data and information utilized in regulatory reports and submissions.
• Review submitted regulatory reports (e.g., significant data breaches, fraud events, FATCA/CRS reports) against CBUAE guidelines and internal policies before final submission, ensuring proper utilization of required formats.

Issue Identification, Documentation & Remediation:

• Accurately identify, document, and track compliance deficiencies, errors, and inconsistencies through the QA process, including conducting root cause analysis.
• Draft detailed reports for each functional review, documenting identified observations, gaps, and recommended corrective actions as per the bank's internal policies.
• Collaborate effectively with relevant departments (e.g., Operations, IT, Info Sec, Fraud) to facilitate the timely and effective remediation of identified compliance issues.
• Track and monitor the implementation of corrective actions and conduct follow-up testing to verify that issues are resolved effectively and controls are operating as intended.

Reporting & Communication:

• Prepare clear, concise, and structured Management Information (MI) for reporting purposes, summarizing QA review results, identified issues, and recommendations for remediation.
• Communicate findings effectively and professionally to relevant stakeholders (e.g., Compliance Officers, IT, Operations, Senior Management).
• Regulatory Alignment & Knowledge:
• Maintain a strong and up-to-date understanding of relevant CBUAE regulations, circulars, guidelines, and other applicable banking laws and internal policies.
• Stay informed of new and evolving regulatory developments pertaining to compliance reporting and operational controls. Assist in ensuring that internal policies and procedures consistently reflect the latest regulatory mandates.

Process & Control Effectiveness Assessment:

• Assess the effectiveness and efficiency of existing compliance controls and operational procedures to ensure they adequately address regulatory requirements and protect the bank.
• Identify control deficiencies, process gaps, and areas for improvement within compliance workflows and related risk assessments or conformance testing results.
• Participate in the review and analysis of bank-wide policies and procedures on a regular basis to ensure that regulatory changes have been effectively applied and implemented.
• Contribute to the review and refinement of internal criteria for significant fraud reporting to ensure robustness and alignment with CBUAE expectations.

Gap Analysis & Regulatory Interpretation:

• Conduct detailed gap analysis on new and existing regulations against current business processes and controls.
• Identify areas of non-compliance and potential regulatory exposure stemming from new or amended CBUAE regulations, circulars, and guidelines.
• Business Compliance Advisory:
• Provide clear and practical compliance advice to business units on implementing regulatory requirements.
• Collaborate with business stakeholders to develop compliant solutions and integrate regulatory changes into daily operations.

Testing & Validation:

• Perform comprehensive testing of compliance workflows, systems, and controls to validate their functionality and adherence to internal policies, regulatory requirements, and best practices.
• Assist in validating the accuracy and completeness of data extracted from core banking systems for regulatory reporting purposes.

Job Requirements

• Bachelor’s degree in finance, Business Administration, Law, or a related field.
• Professional certifications in compliance (e.g., CAMS, ICA, ACSS) are a strong plus.
• Minimum of 5 years of proven experience in a quality assurance, regulatory compliance, or internal audit role within the financial services or banking industry in the UAE.
• Demonstrated experience in conducting reviews, testing controls, identifying process improvements, and managing issue remediation.
• Solid and practical understanding of banking regulations and compliance requirements, including CBUAE regulations, AML/CTF, sanctions, consumer protection standards, data privacy, and financial reporting requirements (e.g., FATCA/CRS).
• Proficiency in using data analysis tools and Microsoft Excel for reporting, data validation, and quality checks.
• Strong analytical and problem-solving skills with meticulous attention to detail and a commitment to accuracy.
• Excellent written and verbal communication skills, with the ability to articulate findings clearly and concisely to diverse audiences.
• Ability to work effectively both independently and collaboratively within a team environment, building strong working relationships across departments.
• High level of integrity, ethical conduct, and unwavering commitment to regulatory compliance.
• Comfortable working with various banking systems and software applications.