Overview

Compliance

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The Company:

A diversified, multi-line investment institution licensed and regulated by the Central Bank of the United Arab Emirates based in Dubai

 

The Role:

Head the Risk Management function of the company and manage all Risk related activities for The Company and identify existing or potential risks to the company in order to develop plans for mitigating and managing risks. The role will also be responsible for compliance oversight.

 

Major Responsibilities:

  • This role will also oversee centralization and coordination of all outsourced legal activities and internal audit activities in the company.
  • Develop a corporate Risk Management Strategy and Risk Appetite Framework for The Company in line with corporate goals and objectives. Establishing the level of risk the company are willing to take through the Risk Appetite and Risk Tolerance limits.
  • Develop and responsible for the implementation of the Enterprise Risk Management across the company, including the identification, measurement and reporting of all types of risks. 
  • Regularly review the Risk Management Strategy and Risk Appetite Framework to make recommendations for changes or amendments on various operations i.e. credit limits, products, levels of exposure etc. as required.
  • Provide compliance advisory support and ensure that the organization complies with regulatory requirements in AML, financial crime, sanctions, fraud
  • Develop and implement processes which enhance service quality standards i.e. SLA’s with business units with an efficient TAT.
  • Conduct regular risk evaluations on The Company’s portfolio exposure and make recommendations that enable the company to position itself optimally in the market and to mitigate risk.
  • Effectively manage the Compliance function in line with applicable government regulatory requirements.
  • Develop and implement an annual compliance plan for all activities.
  • Act as the key point of contact for regulatory authorities in the company and maintain positive relationships with such entities.
  • Coordinate with outsourced Internal Audit service provider to ensure all internal audits of the company’s processes are conducted in compliance with corporate policies and procedures and legal regulations in order to mitigate risk to the company. Coordinate and manage the implementation schedule of all agreed recommendations.
  • Coordinate and centralize legal function in the company managing legal service providers coordination and procurement of legal services and coordination between various departments on legal matters.
  • Drive the implementation of risk management, compliance, legal policies procedures and processes to ensure that the operations of the company are carried out in a risk averse manner.
  • Adopt initiatives to establish and continuously promote a culture of risk and compliance in the company i.e. training and development.
  • Manage regulatory inspections to ensure effectiveness of the inspection process and support satisfactory outcomes.
  • Ensure regular preparation of management reports and various other reports to fulfil statutory requirements.
  • Ensure that the department’s activities are carried out in adherence to policies and procedures and in line with applicable legal regulations and corporate guidelines.
  • Keep abreast with all changes in government regulations and guidelines where applicable and ensure adherence by the company.
  • Develop management reports for the Board, Audit Risk and Committee (ARC). Risk and Compliance Committee (R&C) and CEO on Risk related, Compliance, Audit and Legal findings and root cause of issues which include recommendations for corrective actions on any observed exceptions.
  • Coordinating and responsible for risk reporting to parent company as part of the Group ERM Framework of parent company
  • Conduct AML Risk Assessment on The Company counterparties and clients, monitor high risk clients and transactions, and conduct enhanced due diligence where required.
  • Responsible for the Operational Risk Incident preparation and reporting and coordination with various stakeholders of the company to ensure that action plans are implemented.
  • Responsible for the complaint management of the company and ensure all action plans are resolved.
  • Act as an independent second line risk control function, execute the relevant aspects of the Risk and
  • Compliance framework through robust independent risk control.
  • Act a ‘trusted advisor’ to different Businesses of The Company and provide timely advice to ensure compliance with all relevant laws and regulations.
  • Proactively challenge the businesses to exhibit appropriate conduct, comply with regulatory and compliance requirements.
  • Develop and recommend appropriate risk and compliance policies and procedures, as well as any related manual document in agreement with Senior Management.
  • Disseminate regulatory changes/practices and associated risks, and proactive engagement in regulatory reform.

Qualifications & Desired Skills:

  • Bachelors and/or Masters Degree (preferably specializing in Finance) with some legal background
  • Legal, Risk and Compliance Certification
  • 5+ Years of experience in Investment or Commercial Banking
  • Must have full knowledge of Brokerage terms (margin trading, leverage etc)
  • Proven track record on implementing Enterprise Risk Management (ERM) framework with previous employer
  • Experience of working in an international environment preferred
  • Market and Regional Knowledge
  • Knowledge and experience of Investment Banking activities (equities, fixed income, real estate, funds, private equity, corporate advisory)

 

 

 

 

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