Engagement details:
- Job Title: Branch Compliance Officer & MLRO
- Client: Leading Reinsurance firm
- Employment type: Permanent role
- Location: Onsite in Dubai, UAE
- Experience level: 3-5 years
Role Overview:
Our client, a leading reinsurance firm and DFSA-regulated entity, is seeking to appoint a Compliance Officer/MLRO to join its Dubai-based team. This role will play a critical part in the effective implementation and day-to-day management of the compliance framework, including AML policies, procedures, and controls, ensuring full adherence to the DFSA Rulebook and applicable DIFC regulations.
Key Responsibilities:
- Counsell and support the branch and its business activities complying with the provisions of applicable laws and regulations as well as related regulatory directions and internal policies.
- Implement recommendations, guidance, and directives as set out in the DFSA Rulebook.
- Develop and maintain monitoring and reporting procedures to identify, report, and address compliance breaches promptly.
- Prepare and submit Suspicious Activity Reports as required by Federal AML legislation.
- Contribute to the creation, implementation, and review of compliance policies and procedures in line with local and international standards.
- Conduct thorough due diligence and identify any potential compliance risks.
- Prepare and execute the annual branch compliance plan.
- Manage compliance inspections and audits.
- Inform and train local employees on compliance matters material to the branch
- Assist in responding to regulatory, auditor, and external authority queries and information requests from UAE authorities and the DFSA concerning relevant regulatory and money laundering matters.
- Participate in the design and testing of internal compliance frameworks and conduct routine monitoring activities, including preparing quarterly compliance reports.
- Collaborate with internal teams to ensure business operations adhere to compliance requirements.
Requirements:
- Understanding of DFSA or FSRA regulation (or equivalent e.g. FCA)
- 3+ years of experience in Compliance within the reinsurance/insurance sector.
- Proficiency in written and spoken English
- Excellent communication and interpersonal skills
- Comfortable working independently and equally effective as part of a collaborative team.
