Head of Compliance - United Arab Emirates

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Location : Dubai
Post Date :

Description :

The Company

My Client a leading bank in the UAE is looking for a Head of Compliance who will ensure that the activities and businesses (such as Corporate and Investment Banking) are carried out in accordance with local rules and regulations and to provide update on compliance matters to the related Compliance units in the Legal & Compliance Division (Head Office).

The Role

  • Manage all compliance activities ensuring alignment with local regulatory requirements for activities and business (Corporate & Investment Banking) via concise, accurate and relevant compliance reporting including whistle blowing activities, breach reporting and reporting of suspicious activities, and complaints handling.
  • Responsible for maintaining a robust compliance framework including implementing new rules and regulations
  • Governance - ensure an adequate structural framework to meet regulatory expectations and internal guidelines
  • Leadership position ensuring that compliance policies and procedures are rolled out to the business
  • Ensure an effective AML and CTF policy in place and to manage the due diligence on customers including on-going CDD and ensuring that it is maintained up-to-date.
  • Develop and manage a risk-based Compliance Monitoring Programme (CMP) and ensure reviews are in alignment with the best practices and properly implemented.
  • Manage reports from the CMP reviews and ensure timely and effective reporting highlighting regulatory weaknesses and areas of non-compliance for management together with recommendations for corrective action. Ensure periodic reporting of compliance reviews are made to the Board of Directors, where applicable, especially on critical matters such as AML.

The Candidate

  • 7to 10 years of experience in multinational Banking Compliance function
  • Good understanding and knowledge of local laws and international practices (DIFC & Central Bank)
  • Excellent knowledge of Global Markets/Capital Markets Compliance.
  • Strong analytical, interpersonal, communication and facilitation skills with good leadership skills
  • Proactive, with the ability to generate ideas, think creatively and develop innovative solution
  • Good communicative skills, Arabic will be an advantage
  • Analyse comprehensive regulatory impact of Sanctions matters on the bank's business and its operations.
  • Experience in a European or Developed jurisdiction is preferred.
  • Advise business on compliance & regulatory matters relating to Sanctions/AML/ABC as well as financial services industry-related practices.
  • Evaluate products, services, geographies and customer segments of the bank that might be vulnerable to Sanction/AML/ABC and regulatory risks.
  • Implement and follow up on strong recommendations to address high risk situations (such as dropping a long-standing client/product line/country).
  • Participate in regulatory and supervisory meetings and consultations.
  • Partner with legal counsels for matters regarding individual and country liability
  • Resolve conflicts of interest arising from regulations and information security
  • Partner with regulators locally or globally
  • Influence and help develop global standards

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Dubai International Financial Centre (DIFC)
Gate Village 1, Level 1
Phone : +971 (0) 4 382 6700

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