Head of Compliance

Propel Consult

Bahrain

Ref: LP127-995

Job description / Role

Employment: Full Time

Our client is one of the largest providers of alternative investment products. The company offers investments in corporate investment, real estate and hedge funds, and has arranged investments with a combined value of approximately $44 billion.

They are currently looking to recruit a Head of Compliance in Bahrain.

Duties & Responsibilities:
- Monitoring compliance with rules and regulations including ensuring KYC and AML checks.
- Monitoring departmental objectives and economics.
- Ensuring compliance with Internal policies and procedures including performing reviews on code of conduct and best practices.
- Ensuring effective training is delivered to Compliance staff annually.
- Developing and maintaining an understanding of the Firms internal standards of conduct and procedures as well as applicable laws and regulations.
- Identifying potential areas of compliance vulnerability and risk and assessing the severity of potential Compliance Risks.
- Devising, and if need be updating, a process/risk-based written Compliance Monitoring Program to provide a reasonable assurance that prevents the Firm from illegal, unethical, or improper conduct.
- Working with HR and other departments to develop an affective compliance training program, including introductory AML training for new employees and ongoing training for all employees and managers.
- Effectively implementing day-to-day monitoring and periodic testing (including spot checks) of the Firms actual compliance with policies and procedures including ensuring compliance with the compliance registers provided by compliance partners for satellite offices. Responding to alleged violations of rules, regulations, policies, procedures and Code of Conduct or Ethics by evaluating or recommending the initiation of investigative procedures in conjunction with the CEO. Ensuring proper reporting of violations to the CEO and the Audit Committee of the Board.
- Providing reports to management periodically which evaluates the Firms compliance with the Applicable Regulations and contain proposals for improvement and correction whenever required.
- Recommending to the CEO any warranted changes in the Compliance Policy. Maintaining and updating the Compliance Departments Procedures Manual and Risk framework.
- Review the marketing and other material sent to clients and ensuring that Client document review process is complied with.
- Act as the Person in Charge for the Personal Account Dealing policy to control Insider Trading.
- Reporting to the Audit & Risk Committee of the Board and administratively to Chief Executive Officer.

Requirements

- You must have a Bachelors in accounting from a recognized university,
- You must have a professional qualification such as CA, CPA, ACCA, CIA etc.
- You must have a minimum 10 years of experience, at least 5 years of which is in a position of management.
- You must have experience with and knowledge of rules and regulations governing the investment firms, finance & investments.
- You must have experience with and knowledge of rules and regulations governing the Anti- money Laundering and Countering Financing for Terrorism.
- You must have experience with and an in-depth understanding of Liquidity management, Capital Adequacy, SPV Funding, Operational risks management.
- You must be fluent and well versed in English and have excellent communication and interpersonal skills.
- Keep the CBB Compliance manual updated at least semi-annually.
- Timely reports are submitted to management and Board relating to Compliance matters.
- Providing appropriate guidance/consultation to the companys employees relating to compliance issues.
- Recruit and train compliance staff.
- Effective management of compliance department and external Compliance vendors.

About the Company

Propel Consult delivers a service in step with the needs of both our client companies and candidates. Our ability to add value to all levels of recruitment stems from our wholehearted belief in providing a professional service to both parties. We have built relationships with many leading indigenous and mulitnational organisations throughout the Middle East and internationally in countries such as UAE, Qatar, Saudi Arabia, Oman, Bahrain, Kuwait, Egypt and many more. Concentrating our resources has created 5 distinct specialist divisions:

  • Banking & Finance
  • Human Resources
  • Oil & Gas
  • Construction
  • Architecture & Engineering

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