Compliance Officer

Company not disclosed

Dubai, United Arab Emirates
Salary not specified
Posted
Full-time
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Job Description

Job Description: The Compliance Officer is responsible for ensuring the organization's adherence to internal policies and external regulatory requirements. This role involves monitoring, analyzing, and reporting on compliance-related activities, conducting risk assessments, and supporting the development and implementation of compliance programs. Responsibilities Regulatory Compliance · Monitor and analyze regulatory changes and assess their impact on the organization. · Ensure compliance with applicable laws, regulations, and internal policies. · Transaction Monitoring · Conduct ongoing transaction monitoring to identify and report suspicious activities. · Use AML software and other tools to detect potential money laundering, fraud, and other financial crimes. Risk Assessments · Conduct compliance risk assessments and evaluate the effectiveness of controls. · Identify and recommend improvements to mitigate compliance risks. · Customer Due Diligence (CDD) and KYC · Perform customer due diligence (CDD) and know your customer (KYC) checks on new and existing clients. · Conduct enhanced due diligence (EDD) for high-risk clients and activities. Sanction Screening · Conduct sanction screenings to ensure compliance with international sanctions regulations. · Monitor and screen transactions, clients, and counterparties against sanctions lists. · Investigate and escalate any potential sanctions violations to the appropriate authorities. Investigations and Reporting · Investigate suspicious transactions and prepare detailed reports for management and regulatory authorities. · Prepare and submit regulatory filings such as Suspicious Activity Reports (SARs) and Currency Transaction Reports (CTRs). Collaboration and Support · Provide compliance-related advice and support to other departments and management. · Work closely with internal and external stakeholders to address compliance issues and implement solutions. · Implementing new strategies and tactics to improve collections and recovery performance, training and coaching staff to improve performance. · Liaising with collection agencies regarding collection and claim pay activities and further developing strong, sustainable relationships. · Identification, assessment and quantification of the credit risk through the debt/outstanding portfolio analysis. · Analyzing and interpretation of data. · Interpersonal skills to effectively communicate with and manage expectations of customers and other stakeholders · Knowledge and effective application of all relevant banking policies, processes, procedures and guidance to consistently achieve required compliance standards or benchmarks in UAE. Qualifications and Experience - Bachelor’s degree in Finance, Accounting, Law, Business Administration, or a related field. - Relevant certifications (e.g., CAMS, CRCM) are a plus. Experience - 2-4 years of experience in compliance, risk management, or a related field. - Experience in the financial services industry is preferred. Essential Requirements · In-depth knowledge of compliance regulations and best practices. · Ability to work independently and as part of a team. · High ethical standards and integrity

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