Associate Director - Regulatory Compliance

About This Role

Job Purpose:

The Regulatory Compliance Manager will oversee Regulatory Compliance in accordance with UAE Central Bank and UAE Securities and Commodities Authority (SCA) regulations. The role involves ensuring adherence to a number of Regulations, including consumer protection, outsourcing, corporate governance, licensing, client classification, suitability, and capital adequacy requirements.

The Compliance Officer will be responsible for monitoring regulatory developments, implementing compliance frameworks, conducting compliance reviews, and engaging with regulators.

Key Responsibilities:

1. UAE Central Bank Regulatory Compliance

• Consumer Protection Compliance:

• Ensure the firm complies with UAE Central Bank Consumer Protection Regulations.

• Oversee complaint-handling mechanisms and ensure fair treatment of customers.

• Conduct reviews of customer-facing policies, contracts, and disclosures to ensure compliance.

• Outsourcing Regulation Compliance:

• Ensure adherence to outsourcing regulations, including due diligence, contractual compliance, and risk assessment of service providers.

• Monitor the firm’s outsourcing arrangements and ensure regulatory reporting requirements are met.

• Corporate Governance & Employment Compliance:

• Oversee compliance with corporate governance requirements, ensuring board and management decisions align with regulatory expectations.

• Monitor adherence to employment regulations, including fit and proper requirements for senior management and staff.

• Conduct periodic training on corporate governance and compliance obligations.

2. UAE Securities and Commodities Authority (SCA) Compliance

• Licensing & Regulatory Approvals:

• Ensure the firm maintains valid SCA licenses and meets all regulatory obligations.

• Oversee licensing applications, renewals, and regulatory approvals for new business activities.

• Liaise with SCA on regulatory queries and ensure timely submission of required reports.

• Client Classification & Suitability:

• Ensure compliance with client classification regulations, including high-net-worth individual (CB UAE) and professional/ordinary investor (SCA)

• Monitor adherence to suitability and appropriateness assessments for investment products and financial services.

• Conduct periodic internal audits and controls to verify compliance with client categorization rules.

• Capital Adequacy & Financial Requirements:

• Oversee compliance with capital adequacy requirements (as a LOD2 in collaboration with the Risks Management Team which holds primary technical compliance responsibility

3. Regulatory Compliance Monitoring & Reporting

• Regulatory Monitoring & Implementation:

• Stay updated on new regulations, circulars, and guidance from UAE regulators and assess their impact on the firm.

• Implement policies and procedures to ensure compliance with evolving regulatory requirements.

• Conduct internal compliance reviews and risk assessments to identify and address regulatory gaps.

• Training & Awareness:

• Develop and conduct training programs for staff on regulatory compliance requirements.

• Promote a culture of compliance within the firm through regular engagement with business units.

• Regulatory Engagement & Reporting:

• Act as the primary liaison with UAE regulators, responding to regulatory inquiries and coordinating audits or inspections.

• Ensure timely submission of regulatory reports to the UAE Central Bank and SCA.

• Prepare compliance reports for senior management and the Board, highlighting key risks and regulatory developments.