Regulatory Compliance Officer
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Key skills for this role
About the Role
A leading reinsurance firm seeks a Regulatory Compliance Officer to manage the compliance framework, including AML policies and DFSA regulations. The role involves monitoring compliance, conducting due diligence, and preparing reports.
Key Skills for This Role
Responsibilities
- Counsell and support the branch and its business activities complying with applicable laws and regulations
- Implement recommendations, guidance, and directives as set out in the DFSA Rulebook
- Develop and maintain monitoring and reporting procedures to identify and address compliance breaches
- Prepare and submit Suspicious Activity Reports as required by Federal AML legislation
- Contribute to the creation, implementation, and review of compliance policies and procedures
- Conduct thorough due diligence and identify potential compliance risks
- Prepare and execute the annual branch compliance plan
- Manage compliance inspections and audits
- Inform and train local employees on compliance matters
- Assist in responding to regulatory, auditor, and external authority queries
Requirements
- 5+ years of experience in Regulatory Compliance within financial services
- Understanding of DFSA or FSRA regulation (or equivalent e.g. FCA) preferred
- Proficiency in written and spoken English
- Excellent communication and interpersonal skills
Full Job Posting
Role Overview
- Our client, a leading reinsurance firm and DFSA regulated entity, is seeking to appoint a Regulatory Compliance Officer to join its Dubai based team.
- This role will play a critical part in the effective implementation and day to day management of the compliance framework, including AML policies, procedures, and controls, ensuring full adherence to the DFSA Rulebook and applicable DIFC regulations.
Key Responsibilities
- Counsell and support the branch and its business activities complying with the provisions of applicable laws and regulations as well as related regulatory directions and internal policies.
- Implement recommendations, guidance, and directives as set out in the DFSA Rulebook.
- Develop and maintain monitoring and reporting procedures to identify, report, and address compliance breaches promptly.
- Prepare and submit Suspicious Activity Reports as required by Federal AML legislation.
- Contribute to the creation, implementation, and review of compliance policies and procedures in line with local and international standards.
- Conduct thorough due diligence and identify any potential compliance risks.
- Prepare and execute the annual branch compliance plan.
- Manage compliance inspections and audits.
- Inform and train local employees on compliance matters material to the branch
- Assist in responding to regulatory, auditor, and external authority queries and information requests from UAE authorities and the DFSA concerning relevant regulatory and money laundering matters.
- Participate in the design and testing of internal compliance frameworks and conduct routine monitoring activities, including preparing quarterly compliance reports.
- Collaborate with internal teams to ensure business operations adhere to compliance requirements.
Requirements
- 5+ years of experience in Regulatory Compliance within the financial services industry
- Understanding of DFSA or FSRA regulation (or equivalent e.g. FCA) is preferred
- Prior experience of working with global firms
- Proficiency in written and spoken English
- Excellent communication and interpersonal skills
- Comfortable working independently and equally effective as part of a collaborative team.
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