Job description / Role
Designing and implementing an overall risk management process for the company, which includes an analysis of the financial impact on the company when risks occur.
Overall responsibility for ensuring compliance with all rules and regulations within the Company.
Risk Management & Compliance:
- Provide advice and recommendation on all matters relating to SCA and ADX rules and regulations.
- Provides advice to the internal audit function on the best practices in governance & risk management and ensure that risks are managed effectively
- Develop a system to assess, define, monitor, and reduce relevant risk that could interfere with the company’s goals and objectives.
- Ensure that RAKP is following the policies and internal operations or any legal, regulatory, or external contractual requirements.
- Stay informed about the regular updates and new trends and development in the risk management and ensure that all updates are communicated to the relevant stakeholders.
- Provide recommendations on the business transactions matters.
- Determine the necessary level of knowledge about the organization’s existing and potential regulatory compliance requirements.
- Set yearly plan for the compliance program that reflects the unique characteristics of the organization
- Provide mentoring, counseling, coaching, or training to improve the understanding of relevant laws and regulatory requirements.
- Advise and strategically mentor the senior management on compliance activities.
- Prepare briefing reports to the board of director about the compliance program.
- Coordinate with the external regulators in compliance matters
- Conduct investigations if any compliance issues arise and act upon them.
- Performing a risk assessment: Analyzing current risks and identifying potential risks that are affecting the company
- Performing a risk evaluation: Evaluating the company’s previous handling of risks, and comparing potential risks with criteria set out by the company such as costs and legal requirements
- Establishing the level of risk the company are willing to take
- Preparing risk management budgets
- Explaining the external risk posed by corporate governance to stakeholders
- Creating business continuity plans to limit risks
- Identifying and assessing ML/FT risks
- Establishing, documenting, and updating policies and procedures to mitigate the identified ML/FT risks
- Maintaining adequate risk-based customer due-diligence (CDD) and ongoing monitoring procedures
- Identifying and reporting suspicious transactions
- Putting in place an adequate governance framework for AML/CFT
- Handle all Regulatory Audits
- Responsible for Mitigation of points raised by regulatory Inspectors
- Provide Training to all Employees on AML/CFT Awareness
- Prepare Monthly/Quarterly and Annual Reports and MIS on AML/CFT Findings
- Responsible for Submission of Annual/Biannual MLRO Report to the Authority
- Any additional tasks assigned by Line Manager .
Follow any new tasks or responsibilities updated or added related to Risk & Compliance as per the resolution of the Authority’s Board Chairman No. (03 / M) of 2010 regarding the approved Governance Manual for Public Joint Stock Companies and as per the management approval
- Minimum Bachelor’s degree in business, finance, or accounting
- MBA or master’s degree preferable
- Preferable Certified Internal Auditor / Certified Fraud Examiner /ACAMS / ICA – Compliance Certified
- Expat - Minimum 07-10 years’ experience in relevant area, 5 years in real estate industry ,preferable in AML/CFT Function or Financial Crime Assessment
- UAE National - 05-8 years’ experience in relevant area , preferable in AML/CFT Function or Financial Crime Assessment
- Sound Understanding of risk management principles and practices
- Strategic thinking and the ability to communicate at all levels
- Ability to motivate and lead others in higher level
- Problem solving
- excellent & Strong communication skills, both verbal and written (English & Arabic)
- An analytical mind, and the ability to manage and prioritize work.
- Excellent business partnering and relationship building skills.
About the Company
RAK Properties is one of the leading property development and tourism infrastructure firms in the UAE.
With proven excellence in a wide range of projects including mixed-use community developments, strategically placed retail shops, health spas and hotels, RAK Properties Public Joint Stock Company (PJSC) plays a central role in shaping the lifestyle of residents of the United Arab Emirates.
Founded in 2005 from the vision of His Highness Sheikh Saud Bin Saqr Al Qasimi, Ruler of Ras Al Khaimah, RAK Properties delivers high-quality and professionally managed projects that provides its customers with the highest level of service, while maximizing the value of their investments.
RAK Properties has sound capital of AED 2 Billion. The Initial Public Offering (IPO) of RAK Properties in early 2005 was over subscribed by almost 57 times. In its mission to lead the development of real estate and tourism infrastructure in Ras Al Khaimah. RAK Properties aims to attract foreign investors of repute to launch state of the art projects, including luxurious hotels, resorts and malls. In doing so, RAK Properties serves as a catalyst for a dynamic property market in both Ras Al Khaimah and the wider United Arab Emirates.
SFM Corporate Services
Client Onboarding, KYC and Compliance Lead
|Abu Dhabi||4 Mar|