Compliance Manager

Responsibilities:

1. Establishing policies and procedures to interpret laws, regulations, and guidelines into the business and providing advice.
2. Developing a robust and sustainable AML control framework.
3. Conducting monitoring for potential money laundering and other breaches of conduct of business regulations.
4. Establishing and maintaining accreditation and KYC procedures.
5. Mandatory regulatory report filings.
6. Managing regulatory inspections and relationships with regulators.
7. Identifying new regulatory developments and reviewing their impact on business.
8. Providing training and support to management and employees on how to fulfill their regulatory duties.
9. Assisting management in enforcing country regulations and Group policy.
10. Overseeing that POS tools and equipment are functional and compliant.
11. Delivering Compliance Management reports and board reports.
12. Overseeing Financial Statutory and regulatory reports submitted within required deadlines.
13. Ensuring that the business and products are fully licensed and undertaking license renewal where required.
14. Receiving Internal Suspicious Activity reports from employees and analyzing them to take appropriate decisions to report to FIU.
15. Cooperating with and providing the FID with all information it requires for fulfilling their obligations.
16. Developing and executing AML/CFT training programs considering all relevant risks of ML/FT and financing illicit organizations.
17. Providing necessary reports to the Board of Directors and Compliance Committee on all AML/CFT issues, quarterly at a minimum.
18. Arranging to retain all necessary supporting documents for transactions, KYC, monitoring, suspicious transaction reporting, and AML training for the minimum period for record retention.
19. Conducting regular gap analysis between the Licensed Person’s existing AML/CFT Procedures and current Laws, Regulations, Notices, and the Standards of the UAE.
20. Ensuring day-to-day compliance of the business against internal AML/CFT policies and procedures.
21. Acting as the key contact point regarding all AML/CFT related matters/queries from the Central Bank and any other competent authorities.
22. Ongoing monitoring of transactions to identify high-risk, unusual, and suspicious customers/transactions.
23. Staying abreast of regulations and ensuring new regulations are transmitted to the impacted stakeholders and compliance with changes are well understood and adhered to.
24. Proposing actions required to address gaps, if any.
25. Preparing Bi-Annual Compliance Reports in accordance with Paragraph 16.25 of this Chapter.

Desired Candidate Profile:

1. Excellent knowledge of applicable laws and regulations as well as general business practices.
2. Sound understanding of compliance system behaviors including adjusting/fine-tuning transaction monitoring and screening rules.
3. Ability to interpret and implement CB regulations in a manner which meets the spirit of the regulations.
4. Project management capability including extensive understanding of conducting Financial Crime Risk Assessments.
5. Ability to identify and define compliance-related problems, collect data, establish facts, draw valid conclusions, and make recommendations.
6. Comfortable working with computer systems.
7. Very good analytical and numerical ability.
8. Attention to detail and accuracy in handling routine activities.
9. Ability to meet stringent internal and external (regulatory) deadlines.
10. Ability to work independently as well as in a team environment.
11. Ability to remain composed and make appropriate decisions under stressful conditions.

General Experience and Personal Qualities:

1. Leadership: Ability to manage teams to deliver, recognizing the need to develop, motivate and empower.
2. Commercial Acumen: Protect the business by ensuring compliance with procedures, managing risks, and escalating where appropriate.
3. Strong Relationships: Ability to build and manage relationships, developing trust and credibility.
4. Management of Change: Capable of managing change in a multi-site environment with a focus on performance and results.

Minimum Qualifications and Experience:

1. A minimum of eight (8) years of experience in AML/CFT compliance, audit, or risk management within any financial institution(s); OR
2. A minimum of five (5) years of experience in AML/CFT compliance, audit, or risk management within any financial institution(s) and possess a specific certification related to AML/CFT compliance.

Examples of specific certifications related to AML/CFT compliance include ACFCS, CFE, ICA Diplomas, CAMS, or any other certification acceptable to the Central Bank.