Job closed
Ref: OP195-59
Job description / Role
Our client, one of the leading financial institutions in the GCC are looking to bring on board a Compliance Officer for their branch in Abu Dhabi. The role will report to the branch manager.
Responsible for ensuring that the Branch remains fully compliant with all legal and regulatory requirements, thus mitigating the risk of legal / regulatory sanctions or loss of reputation that the Bank may suffer as a result of non-compliance. The job holder should implement processes that enable him to ensure that the Branch complies with applicable laws/ regulations and instances of potential or actual non-compliance are immediately highlighted to him so that the Branch management/ Head Office Compliance Officer can be alerted to initiate timely corrective action.
Job Purpose/Objectives:
- Monitor, review, report and follow up compliance by Riyadh Branch with rules, regulations and laws. Report non-compliance if any, to the General Manager of the Branch and follow up till corrective action completed, keeping the Compliance Officer at Head Office apprised of developments and escalating issues to him for action if necessary. Monitor and manage the anti-money laundering and anti-terrorist financing functions of the Branch.
Dimensions e.g. Targets, budgets, staff numbers:
- Number of Employees in the department: Nil
- Scope of Operation: UAE
Principal Responsibilities:
- Ensure ongoing implementation of the compliance and AML/CFT policies e, framework and procedures relating to the Branch.
- Maintain an updated compliance reporting calendar including reporting formats, periodicity and due dates, and monitor compliance with the requirements, highlighting instances of non-compliance to Branch Management to enable timely corrective action.
- Review and monitor compliance with applicable laws, regulations and reporting requirements by the Branch in respect of existing products and services, investigate instances of actual non-compliance and highlight non-compliance, if any, to Branch Management.
- Review all new country specific products, services, documentation and public customer communication before launch, to ensure compliance with regulatory and legal requirements.
- Serve as the central point of Compliance & MLRO for the Branch. Receive, understand, analyse and respond in time to instructions from the regulatory authorities, in co-ordination with respective units in the Branch / Head Office. Continuously monitor and follow up to ensure timely response to regulators.
- Advise Branch Management (and where necessary, the Head Office Compliance Officer)/MLRO regarding compliance & AML/CFT implications of new laws and regulations in the country and monitor/ follow up to ensure compliance.
- Develop and implement systems and procedures for measuring and monitoring compliance & AML/CFT risks of the Branch in line with compliance policies of the Bank.
- Carry out periodic reviews/ test checking of compliance and AML processes at the Branch and report outcomes to Branch Management.
- Maintain utmost confidentiality with respect to the information obtained during the day-to-day performance of duties/ responsibilities.
- Monitor and manage the anti-money laundering and anti-terrorist financing functions of the Branch including reviewing AML & Watch list alerts, investigating STRs and training of staff on AML regulations.
- Utilize AML& SWIFT Check systems in their daily operations and ensuring that daily AML alerts and all SWIFT check massages are attended on a daily basis.
- Ensure submission of monthly report to Main Office MLRO in respect of suspected transactions either reported to local regulatory authorities or not reported.
- Responding to the queries sent by government & law enforcement agencies and Main Office in timely and accurate manner
Requirements
- Bachelor degree in law or in banking.
- Strong banking operations background.
- Familiarity with AML/CFT regulations.
- 5 years officer level experience in a bank, including 2 to 3 years experience handling a similar assignment.
- Strong verbal and written Arabic & English communication ability with at least 3 years track record in submitting concise but comprehensive reports to senior executives.
- Competent in MS Word, Excel and PowerPoint.
- Good planning, organizational and interpersonal skills.
About the Company
AXIZ Consulting is based in the Dubai International Finance Centre and offers a bespoke, highly consultative recruitment service to local and international organisations across the GCC in both professional services and primary industries. Its founding two members come from a blend of executive search and contingent recruitment and they have taken some of the best practices of executive search and applied this to contingent recruitment in order to produce a service which offers maximum value to clients.
In order for us to build a successful company, we identified a core aim: to offer our clients a service that surpasses that of our competition. In order to do this, we have put into place both internal and external processes that ensure clients receive a consistent and professional service which gets the right results, in the right way.