Senior AML & CFT Compliance Analyst

Who we are:

Known as the Work Life Platform, Bayzat is one of the leading employees benefits SaaS platforms that is on a constant mission to make a world-class employee experience accessible to every company. We are redefining the way work works for the better, making automated HR, Payroll, Employee Benefits, and Insurance a possibility for all businesses.

We are one of the fastest-growing startups in the MENA region with just over 300 members from 35+ different nationalities. We were listed by Forbes as ''One of the most promising UAE-based startups'' and are backed by world-leading VCs such as Mubadala and Point72 ventures. We are also one of the best-funded scale-ups in the HRTech space across the region.

We are a principle-led, meritocratic company that puts culture at the core of everything. As a Bayzat member, you will constantly be surrounded by high-achieving individuals and teams who have a knack for solving complex problems and are relentlessly pursuing success in everything they do. Being part of such an environment will push you to constantly be the best version of yourself and capitalize on every opportunity to improve, whilst drawing inspiration from like-minded, hungry people from all around you.

How we got to where we are today, and the reason we will continue to thrive, is by hiring best-in-class talent and building a culture that allows people to be the truest, most authentic, and unpretentious versions of themselves. Being a part of one of the fastest-growing start-ups; this role will present the opportunity to learn and sell a winning product, develop skills and knowledge, continuously grow and be a part of Bayzat’s success story.

Some high-impact responsibilities you will be entrusted with:

1. Implementing AML frameworks, procedures and policies
2. Maintain AML/CTF policies and procedures
3. Handle the management and execution of second line monitoring and assessment program for Anti-Money Laundering/Counter-Terrorism Financing (AML/CTF)
4. Assist in the development of compliance initiatives and programs to comply with the respective legal, licensing, and regulatory obligations
5. Ensure compliance with regulatory framework
6. Monitor, analyse, and report suspicious activity/transactions
7. Ensure detailed and prompt investigation of all AML/CTF incidents and cases
8. Identify and inform of any changes to legislation and other regulatory requirements relating to AML/CTF
9. Provide oversight and guidance to the operational team, which acts as the first line of defence
10. Maintain a proper register of all incidents reported
11. Conduct compliance awareness and training on the requirements of the policy and guideline; retain appropriate records of CDD, transactions, suspicious activity reporting and AML training
12. Reviewing and auditing the organization’s adherence to compliance procedures
13. Reporting compliance issues and recommending changes, as well as escalating high risk matters
14. Conducting transaction monitoring reviews, deep investigations, and reporting suspicious transactions related to money laundering and terrorist financing
15. Conduct self-assessment and work with different departments to follow up closure of gaps identified
16. Ensure all management personnel and staff are fully knowledgeable of the risks involved and about their responsibilities with regards to AML-CFT
17. Maintain and handle internal procedures to ensure that suspicious activity is reported in accordance with requirements prescribed by local laws and regulations
18. Handle other duties as assigned to assist with the effective administration of the AML and KYC Policies

What you will need to have:

1. Degree in a law, business, finance, economics or any other related discipline
2. CAMS certification or equivalent
3. 5-7 years’ experience in AML, CFT & Sanctions
4. Experience in AML transaction monitoring a distinct advantage
5. Knowledge of OFAC, UN, EU, and HMT regulations
6. Knowledge of FATF recommendations
7. Knowledge of the applicable legal and regulatory framework and the implementation of policies, controls, and procedures
8. Sufficient knowledge and understanding of the money laundering and terrorist financing risks associated with the business model
9. Relevant experience regarding the identification, assessment, and management of risks
10. Strong analytical and investigative skills
11. Strong project management skills
12. Attention to details
13. Willingness to work on various compliance matters
14. Proficient in Microsoft Office Suite (Word, Excel, PowerPoint)
15. IT skills and experience using prominent compliance software solutions
16. Prior experience in BFSI

What’s in it for you? Perks!

Bayzat is committed to creating an inclusive and collaborative working environment where everyone's background and ideas count. Our culture encourages members to be the best versions of themselves while taking advantage of our perks:

1. Growth: Fast-track growth opportunities for high-achieving members, with no rules around where, when, how, or how often.
2. Flexibility: Remote and flexible/hybrid working setups.
3. Inclusiveness: From bi-weekly company-wide town halls/all-hands meetings to regular huddles, OKR tribe meetings, celebratory dinner parties, and annual awards ceremonies held in the Metaverse, you'll be joining a truly inclusive and engaging workplace.
4. Shared Ownership: We make them shareholders! We open up rounds of ESOP twice to three times a year. And guess what, those who continue to perform and achieve great things are topped up, almost every round!
5. Kick-ass offices: We have offices in UAE, Turkey, Saudi, and India. One of our two Dubai-based offices is in the DIF.