Head of Compliance/MLRO (SCA Authorised)

Job Description:

Based in Dubai, the Compliance Officer will be responsible for the effective implementation of the Company's compliance programme, policies, and procedures. The ideal candidate will have the ability to provide expert compliance advice in a dynamic environment, assisting compliance and business partners in the identification and mitigation of compliance risks and delivering strategic, practical and business-focused compliance solutions, while adhering to both external and internal regulations imposed upon the Company to ensure that it meets all regulatory requirements. The role will include, but is not limited to, the following (under the overall oversight and supervision of the Country Manager and the Board):

• Developing the compliance programme of the Company and fulfilling the relevant compliance requirements for the Company, including drafting and reviewing application documents, policies and procedures and advising on related regulatory compliance matters;
• Working closely with the parent company in executing and further developing the local compliance manual and other policies and procedures;
• Maintaining the Company's overall compliance with the relevant regulatory framework, monitoring and assessing the level of compliance risk, taking into account the services provided, as well as the financial instruments traded;
• Monitoring relevant legislation, internal rules and policies impacting the business, including wider legislative, regulatory, Company and industry standards, notifying the senior management as appropriate, and proactively assisting the business in implementing new and/or amended regulatory requirements;
• Developing, designing and drafting appropriate policies, procedures and controls for the operation of various organizational units in accordance with the Company's compliance manual, including procedures to prevent, record, resolve or disclose situations of conflicts of interest;
• Monitoring the services and activities undertaken by the outsourced functions or services for compliance with the relevant provisions of the internal procedures and manuals;
• Reviewing and approving the Companys website content and all information, including marketing communications, to prospective and current clients, in accordance with applicable rules and regulations and the Companys compliance policies and procedures;
• Reviewing and approving all marketing materials, including all promotional materials used to generate new accounts or actual trading activity, in accordance with applicable rules and regulations and the Companys compliance policies and procedures;
• Report relevant monitoring findings and recommendations for compliance or correction of any deficiencies to the senior management and actively managing the mitigation of compliance breaches;
• Receiving and following up on client complaints and monitoring the work performed by the complaints handling team;
• Monitoring the Companys execution arrangements and performing best execution monitoring tests to ensure compliance with the obligation to obtain the best possible results for clients;
• Tracking instances of non-compliance until resolved;
• Preparing compliance reports to senior management and/or the board of directors, various committees, as well as preparing and submitting reports, including suspicious transaction reports, to regulatory authorities per regulatory requirements;
• Interacting closely with regulators, industry bodies and other external stakeholders;
• Reviewing training programmes and ensuring that they are compliant with regulatory requirements, as well as training and educating the Companys in-house and outsourced staff including, where necessary, provision of day-to-day assistance;
• Keeping abreast with new regulatory and legislative updates and alerting the senior management as necessary;
• Drafting and submitting written reports to the senior management and the board of directors including reports regarding operational matters and regulatory developments, and key achievements in various areas towards compliance with the applicable regulatory framework, making recommendations and indicating in particular whether appropriate remedial measures have been taken in the event of any deficiencies;
• Cultivating constructive relationships which results in the business proactively seeking compliance involvement; and
• Setting and leading an exemplary culture of compliance standard for the Company.

Qualifications and Experience:

• University degree, or diploma or lesser degree, in a relevant field such as law, business administration or equivalent university degree/diploma;
• Alternatively (in the absence of a degree/diploma), any of the following qualifications: (1) Master Financial; (2) ICA Certificate in Compliance; (3) ICA International Advanced Certificate in Regulatory Compliance; (4) ICA Advanced Certificate in Legal Compliance; (5) ICA Certificate in Regulatory; (6) ICA International Advanced Certificate in Anti Money Laundering; (7) ICA Advanced Certificate in Partial Customer Due Diligence; (8) ICA Advanced Certificate in Managing Fraud; (9) ICA Advanced Certificate in Managing Sanctions Risk; (10) ICA Specialist Certificate in Financial Crime Risk in Global Banking and Markets; (11) ICA Specialist Certificate in Money Laundering Risk in New Technology; or (12) Certified Anti-Money Laundering Specialist (ACAMS);
• External compliance-related trainings are an advantage;
• At least 5 years of relevant work experience in compliance in the financial sector (at least 10 years of relevant work experience would be expected where a diploma or lesser degree is held). Experience may have been gained at a regulated financial institution in the compliance and/or AML department;
• Experience at a brokerage or CFD firm will be highly advantageous;
• Strong working knowledge of the applicable UAE/SCA regulatory regime, and familiarity with the relevant, regulatory framework applicable to outsourcing arrangements, anti-money laundering regulations, sanctions and compliance reporting requirements;
• Excellent communicator and team player in an international environment; and
• Highly fluent in both English and Arabic. Additional languages an advantage.