Head of Compliance & MLRO
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Key skills for this role
About the Role
A DFSA-regulated financial services firm seeks a Head of Compliance & MLRO to oversee the compliance framework, ensuring adherence to legal and regulatory standards. Responsibilities include developing AML/CFT controls, regulatory reporting, and advising senior management.
Key Skills for This Role
Responsibilities
- Oversee the firm's compliance framework, ensuring adherence to DFSA and other regulatory standards
- Develop and maintain AML/CFT policies, including onboarding, EDD, and transaction monitoring
- Serve as the firm's Money Laundering Reporting Officer (MLRO), handling SARs and liaising with authorities
- Prepare and submit regulatory filings and reports to DFSA
- Lead compliance training programs across the firm
- Advise the board and senior management on compliance matters
Requirements
- Bachelor’s degree/Certification in business, Finance, Law, or a related field
- Professional certifications in compliance, risk management, or regulatory affairs (e.g., ICA, ACAMS, or similar)
- 8 10 years of experience in a compliance or regulatory role, with a focus on financial services
- Strong experience in a DFSA regulated financial services organization, ideally in a leadership capacity
- In depth understanding of regulatory frameworks and compliance requirements
Full Job Posting
Role Overview
- The Head of Compliance & MLRO is responsible for the oversight and management of the firm's compliance framework, ensuring the business adheres to all relevant legal, regulatory, and ethical standards set by the DFSA and other applicable regulatory bodies.
Regulatory Compliance & Reporting
- Stay abreast of changes to regulatory requirements (DFSA, FATF, UAE Central Bank) and ensure the firm’s policies and practices are up to date.
- Ensure compliance with the DFSA Rulebook, particularly relevant to DIFC firms.
- Prepare, manage, and submit all regulatory filings, notifications, and reports to DFSA, ensuring deadlines are met.
- Act as the primary point of contact for all regulatory audits, inspections, and correspondence with the DFSA and other regulatory bodies.
Anti Money Laundering (AML) & Counter Terrorism Financing (CTF)
- Oversee the firm’s AML/CTF framework, including onboarding, enhanced due diligence (EDD), client profiling, and ongoing transaction monitoring.
- Ensure the firm’s AML/CFT policies are up to date and reflective of the latest regulatory requirements.
- Conduct regular risk assessments, client profiling, and enhanced due diligence for high risk clients.
- Conduct ongoing risk based assessments aligned with DFSA and UAE Central Bank guidelines.
- Serve as the firm’s Money Laundering Reporting Officer (MLRO), handling suspicious activity reporting (SAR), and liaising with relevant authorities.
Internal Compliance Policies & Procedures
- Develop, implement, and maintain the firm’s internal compliance policies, ensuring they align with DFSA regulations and industry best practices.
- Lead compliance training programs across all levels of the firm.
- Monitor and test the effectiveness of the compliance controls through regular reviews and audits.
- Ensure effective handling and investigation of any compliance related breaches.
Compliance Risk Management
- Identify, monitor, and mitigate regulatory and compliance risks, working closely with risk, finance, operations, client services and technology teams.
- Coordinate with internal and external auditors on compliance and regulatory risk assessments.
- Oversee the firm’s data protection policies, ensuring compliance with local data privacy laws.
Corporate Governance
- Advise the board of directors and senior management on compliance related matters.
- Attend board and committee meetings, presenting compliance reports and updates on regulatory obligations.
- Ensure proper documentation of all compliance activities.
- Ensure management reporting on compliance matters and highlight any concerns and exceptions identified.
- Adhere to the principles for Authorised Individuals.
Qualifications
- Bachelor’s degree/Certification in business, Finance, Law, or a related field.
- Professional certifications in compliance, risk management, or regulatory affairs (e.g., ICA, ACAMS, or similar).
- 8 10 years of experience in a compliance or regulatory role, with a focus on financial services.
- Strong experience in a DFSA regulated financial services organization, ideally in a leadership capacity.
Required Skills
- Resourceful, analytical, and capable of strategic thinking.
- Team player who works with senior management to balance business needs with required controls.
- In depth understanding of regulatory frameworks and compliance requirements.
- Strong decision making and problem solving abilities.
- Proficient in developing and implementing compliance monitoring and reporting programs.
- Familiarity with analytics, and performance metrics to enhance compliance oversight.
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