Head of Compliance Controls

Job description / Role

DMCC is looking for a risk management and control expert to be the new Head of Compliance Controls. In this role, you will oversee the creation of regulatory policy framework and risk horizon planning for DMCC Free Zone and DMCC Commodities, Financial Services and other businesses. You will have primary responsibility for design, development, implementation and monitoring of regulatory frameworks and strategic planning for regulatory risk management framework to ensure DMCCA achieves and maintains status as the global leader in free zone regulation.

Job Responsibilities:

Ensuring identification, implementation and updating of strategic policy for effective governance and regulation of DMCC Free Zone and DMCC Commodities, Financial Services and other businesses.

Designing and developing a regulatory policy framework that incorporates local and international law and best practices (as applicable) for regulation and compliance, in particular, AML / CFT, sanction regimes, supply chain risks, anti-bribery and corruption, corporate and financial crime, cyber security and data protection.

Designing and developing a revised assurance function framework to tackle critical strategic issues or crisis management matters. Direct oversight and management of Approved Auditor Rules (AAR) and framework.

Designing, developing and direct management of a revised control function framework to tackle relevant control areas.

Collaboration with Director of Compliance, Head of Compliance Operations and other senior managers and team leaders in the Compliance Department as well as liaising with relevant regulators and government authorities and departments in collaboration with Director of Government and Legal Affairs.

Requirements

Bachelor, honours or masters degree from international university
Degree in law or business / commerce preferred
Compliance and risk certifications mandatory
Minimum 15 years post-qualification experience in risk management and control, compliance and/or strategic operational role, preferably with Regulatory Authorities / Financial Institutions
Minimum 8 years in head of compliance / management position
Experience in AMLRO role
Familiarity with UAE laws, customs and practices (knowledge of multiple jurisdictions beneficial)
AML / CFT and applicable international sanction regimes
FACTA, CRS and other emerging trends
Knowledge of international developments and their applicability
UAE Government structures, processes & regulatory landscape
Fluent in English (Arabic beneficial)

About the Company

Dubai has historically been an international hub for the physical trade of not only gold, but also many other commodities and so the establishment of the Dubai Gold & Commodities Exchange (DGCX) was the next logical step for the region and the local economy. DGCX commenced trading in November 2005 as the regions first commodity derivatives exchange and has become today, the leading derivatives exchange in the Middle East.

DGCX is a subsidiary of Dubai Multi Commodities Centre (DMCC), a strategic initiative of the Government of Dubai, with a mandate to enhance commodity trade flows through the Emirate by providing the appropriate physical, market, financial infrastructure and services required. The Management team of DGCX comprises senior personnel from the commodities, securities and financial services industries bringing a wealth of experience and expertise to ensure the success of DGCX.