We are seeking a highly experienced Head of Compliance & MLRO to join our leadership team. The successful candidate will be responsible for leading the compliance and AML functions, ensuring adherence to UAE SCA regulations and global AML/CFT standards, managing regulatory relationships, and embedding a culture of compliance, ethics, and governance throughout the organization.
Key Responsibilities:
1) Regulatory accountability & independence
- Serve as the SCA-approved Compliance Officer & MLRO, with adequate seniority and decision rights to act independently.
- Maintain open, timely, and accurate communications with the SCA; disclose information the SCA would reasonably expect to be notified of.
- Provide regular written reports to the Board and management on compliance risks, issues, inspections, breaches, remediation status, and training completion.
2) AML/CFT & sanctions (MLRO)
- Own the firm's compliance with UAE AML/CFT legislation and SCA AML Module.
- Operate the end-to-end SAR/STR process: receive internal reports, investigate and document decisions, and file SAR/STRs to the UAE FIU; notify the SCA where required.
- Act as primary contact for competent UAE authorities (SCA, FIU/CBUAE, law enforcement) and international bodies directives (e.g., UN Security Council).
- Oversee customer due diligence, KYC, EDD, screening (sanctions, PEPs, adverse media), and ongoing monitoring; prevent ML/TF/PF risks (including WMD-related financing).
- Maintain the AML/CFT Business Risk Assessment (BRA) and customer/product risk assessments, review annually or upon trigger events.
- Design and deliver AML/CFT and sanctions training; maintain evidence and effectiveness metrics.
3) Policies, governance & culture
- Develop, review, and update compliance and AML/CFT policies, procedures, and standards to reflect regulatory change and industry best practice.
- Ensure clear governance over complaints, conflicts of interest, gifts & entertainment, personal account dealing, financial promotions, whistleblowing, outsourcing, and record-keeping.
4) Monitoring, surveillance & reporting
- Build and execute a risk-based Compliance Monitoring Plan covering onboarding, suitability/appropriateness, market conduct, best execution, client money, financial promotions, and trade surveillance for potential market abuse.
- Implement surveillance/monitoring tools and MI; track remediation to closure.
- Prepare and submit accurate, timely regulatory filings/returns and responses to information requests and examinations.
5) Risk management & controls
- Conduct periodic compliance risk assessments across business lines; define mitigation plans, control testing, and key risk indicators.
- Oversee internal controls to ensure integrity of transactions and regulatory compliance; coordinate with Internal Audit and External Audit on reviews and follow-ups.
6) Regulatory liaison & horizon scanning
- Lead regulatory inspections, onsite reviews, thematic requests, and ad-hoc inquiries.
- Proactively horizon-scan for regulatory developments (SCA, CBUAE/FIU, FATF, UN) and translate into impact assessments and implementation plans.
7) People leadership
- Build and lead a capable compliance team; set objectives, coach, and ensure continuous development.
- Champion a culture of ethics and fair customer outcomes across the firm.
Requirements:
- Bachelor's degree in finance, Law, Business, or related field; advanced degree preferred.
- 10+ years in financial-services compliance with forex/CFD/online brokerage exposure; 3–5+ years in a senior/MLRO or head-of-function role.
- Deep knowledge of the SCA Rulebook, UAE AML/CFT laws and guidance, KYC/EDD, sanctions, and market-conduct standards.
- Certifications: CISI UAE Rules & Regulations and CISI Compliance (required); ACAMS/ICA (preferred).
- Strong analytical judgement, independence, stakeholder management, and clear regulatory writing.
- Technology familiarity with screening, trade surveillance, case-management, and regulatory-reporting systems.
- Arabic fluency and professional English (written & spoken)
