Assistant Manager- Compliance
Role Overview
Ensure compliance with AML laws, regulations, and standards by developing policies, procedures, risk identification, and controls for 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.
Al Rostamani Group operates across trading, automobiles, travel, foreign exchange, financial services, property, construction, infrastructure, and IT services.
Job purpose
Ensure compliance with AML laws, regulations, and standards by developing policies, procedures, risk identification, and controls for an effective compliance program.
AML and compliance duties
- Assume the Head of Compliance's duties in their absence and help implement and supervise the AML framework in line with Central Bank and correspondent bank requirements.
- Conduct AML committee meetings and follow up on decisions; attend regulatory and service provider seminars and workshops.
- Assist Central Bank inspection teams during compliance audits and raise suspicious transaction reports to the UAE Central Bank when acting for the Head of Compliance.
- Analyze queries and rejections from banks and service providers and take necessary action.
- Develop and deliver AML training; test staff knowledge regularly.
- Liaise with external AML auditors and ensure periodic testing of new processes and systems, reporting findings to the Head of Compliance.
- Develop system controls and periodically review their effectiveness; keep sanctions lists updated and review or develop system analysis rules.
- Report non-conformances, review AML risk processes, identify operational risks, and propose mitigating system or manual controls.
- Prepare and consolidate compliance reports.
- Set objectives, manage performance, develop and motivate staff, and provide feedback and appraisal.
Qualifications and experience
- Bachelor's degree in a related field.
- 10 years' financial services experience, including at least 5 years in compliance.
- AML certification from a reputed institution.
- Knowledge of international regulatory requirements and strong AML knowledge.
- Excellent communication, effective investigation, organizational, and people management skills.
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