Our Client is a Category 3A Company in Global Equities, Derivatives, Commodities, Currency Futures Trading, Forex, CFD, Forwards, Fixed Income, Unit Trusts, OTC Products etc. (with a headcount of 1000+ globally spanning over 15+ countries) is looking forward to hiring a Compliance Officer & MLRO.
Duties of the Compliance Officer:
·Initiate, develop, maintain, and revise policies and procedures of the compliance framework and its related activities to prevent illegal, unethical, or improper conduct.
·Oversee the day-to-day implementation and operation of the compliance framework.
·Identify and assess the compliance risk associated with the Company’s current and proposed future business activities, including new products, new business relationships and any extension of operations or network on an international level.
·Collaborate with the management and other departments (e.g., Risk Management, Internal Audit, Legal, etc.) to direct compliance issues to the appropriate channels for investigation and resolution.
·Establish written guidelines to staff and service providers on the appropriate implementation of the laws, regulation, rules and standards through policies and procedures.
·Identify and keep an inventory available to all staff of essential laws and regulation pertinent to the Company and provide advice with regards to legislation.
·Assess the appropriateness of internal policies, procedures and guidelines by performing regular and comprehensive compliance risk assessment, monitoring and testing; report the result on a regular basis and promptly were deemed necessary to executive management and, if necessary, the Board of Directors.
·Establish and/or supervise appropriate compliance checks and controls.
·Complete, check, verify clients’ due diligence and complete sanction screening at client on-boarding.
·Provide guidance to the business on permissible activities, new products, and programs.
·Address any compliance audit remediation activities.
·Liaise with DFSA on compliance matters.
·Centralize all information on compliance-relates issues (breach of regulation, conflict of interest etc.).
·Respond to alleged violations of rules, regulations, and policies, procedures by evaluating or recommending the initiation of investigative procedures.
·Develop and oversee a system for uniform handling of such violations; exercise any specific legal responsibilities such as reporting suspicions transactions related to money laundering and the fight against terrorism financing.
·Generate reports on a quarterly basis to keep the Board and senior management informed of the operation and progress of compliance efforts.
·Maintain an effective compliance communication program for the organization, including promoting understanding of new and existing compliance issues and related policies and procedures.
·Promote compliance culture within the Company.
Duties of the MLRO:
·The day-to-day operations for compliance with the Company’s AML policies, procedures, systems and controls, including assistance with the preparation of client take on document, KYC and AML reports.
·Acting as a point of contact to receive Internal Suspicious Activity Reports (“Internal SAR”) from the employees of the Company.
·Taking appropriate action following the receipt of an Internal SAR.
·Making External Suspicious Activity Reports (“SAR”) to the Anti-Money Laundering Suspicious Cases Unit (“AMLSCU”) of the UAE and informing the DFSA of their submission.
·Acting as a point of contact within the Company for competent UAE authorities and the DFSA regarding any money laundering issues.
·Responding promptly to any request for information made by competent UAE authorities or the DFSA.
·Receiving and acting upon any relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices or other conclusions.
·Establishing and maintaining an appropriate AML training program and adequate awareness arrangements.
·Minimum 8 years of experience in Financial Market as Compliance Officer & MLRO.
·Age between 30-45 is preferable.
·First preference would be given to the people with brokerage experience. As they will understand the business module better.
·Candidate must be well versed with DFSA Regulations.