Assistant Manager- Compliance
Role Overview
Develop and maintain a framework for compliance with anti-money laundering laws, regulations, and standards.
Identify AML risks and develop controls to mitigate them and maintain an effective compliance program.
Key Skills for This Role
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About the employer
Al Rostamani International Exchange provides currency exchange and international remittance services in the UAE.
Job purpose
Develop and maintain a framework for compliance with anti-money laundering laws, regulations, and standards.
Identify AML risks and develop controls to mitigate them and maintain an effective compliance program.
AML responsibilities
- Assume the Head of Compliance's duties in their absence and assist in implementing and supervising the AML framework.
- Conduct AML committee meetings and follow up on decisions with the Head of Compliance.
- Attend regulatory and correspondent-bank seminars and workshops, and assist Central Bank inspection teams during compliance audits.
- Raise suspicious transaction reports to the UAE Central Bank when acting in the Head of Compliance's absence.
- Analyze bank and service-provider queries and rejections and take necessary action.
- Develop AML training materials, raise staff awareness, and test staff knowledge regularly.
- Liaise with external AML auditors and ensure periodic testing of new processes and systems.
Internal compliance and risk
- Develop system controls, periodically assess their effectiveness, and report findings to the Head of Compliance.
- Keep sanctions lists updated according to authority notices; review and develop system rules for analysis.
- Report non-conformances to the Head of Compliance.
- Review the AML risk-management process, identify operational AML risks, and propose system or manual controls to mitigate them.
Leadership and reporting
- Prepare and consolidate compliance reports.
- Lead the function by setting objectives, managing performance, developing and motivating staff, and providing feedback and appraisals.
Qualifications and experience
- Bachelor's degree in a related field.
- 10 years of financial-services experience, including at least 5 years in compliance.
- AML certification from a reputed institution.
- Knowledge of international regulatory requirements and strong knowledge of AML.
- Excellent communication, investigation, organizational, and people-management skills.
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