Local Compliance Officer

Euler Hermes UAE - Dubai; United Arab Emirates; On-site; AED 180,000 - 260,000; Full time

Job summary

A leading insurance and asset management company is seeking a Local Compliance Officer to oversee compliance activities in Dubai. The successful candidate will monitor Solvency II compliance, manage relationships with stakeholders, and provide compliance advice. A Master's degree and strong conflict management skills are required. Join us in fostering a culture of integrity and compliance.

Qualifications

• Experience in DIFC-based organizations.
• Understand market basics and regulatory environment.
• Fluent in English.

Responsibilities

• Monitor and oversee Solvency II compliance.
• Provide input for risk analysis.
• Implement relevant local compliance policies to mitigate risks.

Skills

Strong arbitration skills

Conflict management skills

Business partnership

Education

Master's degree or equivalent

Job description

Local Compliance Officer

About Us

Allianz Group is a global leader in insurance and asset management, renowned for its trustworthiness and reliability. We are committed to fostering an environment where our employees can pursue their aspirations and navigate challenges with confidence. By working together, we aim to empower each individual to grow and contribute positively to the future of our customers and the communities we serve.

We are recruiting for a Local Compliance Officer to join our team in Dubai. This role reports directly to the CEO GCC with matrix reporting to the Regional Compliance Officer MMEA Region.

The Role

This role manages and monitors the local compliance activities and function. Provides advice and assistance to the business on compliance issues. Ensures OE remains compliant with all applicable regulatory obligations and best practices. Coordinates across the OE to ensure compliance responsibilities are understood and carried out. Fulfills tasks of the local compliance function under the company's Solvency II Compliance Policy.

Responsibilities

• Monitor and oversee Solvency II compliance.
• Manage relationships with and reporting to the Regional Management Team, including the Italian Board.
• Lead global responsibilities locally: conflict of interest, communication, and training.
• Liaise with and support regional and Italian management to promote a culture of integrity and compliance.
• Provide input for risk analysis.
• Interface with regional and local functions, peers, trade associations, and compliance forums.
• Manage relationships with Group and Regional Compliance.
• Prepare compliance-related reports.
• Implement relevant local compliance policies to mitigate risks of DFSA rule breaches.
• Foster good relationships with the DFSA and other relevant regulators/stakeholders in the MENA region.
• Provide a reporting mechanism for all local employees independent of senior management.
• Draft an annual compliance plan addressing key risk mitigation objectives.
• Ensure compliance with DFSA GEN rules related to the firm's services.
• Implement and oversee the firm's AML policies, procedures, systems, and controls, ensuring compliance with applicable legislation.
• Manage AML operations, including acting as the point of contact for notifications and suspicious activity reports.
• Respond to requests from UAE authorities and DFSA.
• Maintain AML training programs and awareness initiatives.

Additional Responsibilities

Market Knowledge

• Understand market basics and regulatory environment.
• Experience in DIFC-based organizations.

Business Expertise

• Strong arbitration skills.

Implementation of Group Standards

• Ability to implement Group policies at the local level.
• Follow-up skills for multiple projects.
• Build professional networks.

Leadership and Compliance Skills

• Implement Solvency II policies and guidelines.
• Conflict management skills.

Minimum Group Compliance Knowledge

• Anticipate compliance risks.
• Provide compliance advice, risk assessment, monitoring, and early warning.

Interpersonal Skills

• Business partnership with strong business knowledge.
• Master's degree or equivalent.
• Prioritize key deliverables.
• Teamwork across regions.
• Basic understanding of Generative AI platforms, associated risks, and best practices.
• Fluent in English.

At Allianz, we value an inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, embracing your unique identity and experiences.

Join us. Let's care for tomorrow.

MMEA

Dubai

LI-TM1