Summary
Al Rostamani International Exchange, part of Al Rostamani Group, is seeking an Assistant Manager, Compliance in Dubai. The role supports the Head of Compliance in implementing and supervising the AML compliance framework, assessing risks, maintaining system controls and sanctions lists, and preparing compliance reports. Duties also include supporting regulatory inspections and external audits, reviewing suspicious transactions and bank queries, and delivering AML training. Applicants need a bachelor’s degree, 10 years of financial services experience including at least 5 years in compliance, and AML certification from a reputable institution.
The posting
As published on alrostamanigroup.ae. Pulled from the employer's site and shown as they wrote it.
Every employee at Al Rostamani Group plays a role in making a real difference to the business and our customers. We care for our employees by offering them meaningful and purposeful work and an opportunity to grow, learn, contribute and succeed. Today, the Al Rostamani Group has come a long way since its birth in 1957. Our group has grown steadfastly with the guiding principles of Commitment, Care & Vision, alongside a strong sense of active involvement in the community. We are a well-diversified group, with a key presence in industries such as General Trading, Automobiles and Heavy Equipment, Travel, Foreign Exchange, Financial Services, Property Management, Construction, Infrastructure Development and Information Technology Services. Our Group employs approximately 2000 people from 41 different nationalities, which contributes to our multicultural and multi-national environment.
Al Rostamani International Exchange is a leader in providing currency exchange and international remittance services in the UAE. It is an ISO 9001:2000 certified company having a wide range of products and services catering to all income groups for both nationals and expatriates.
Job Purpose
Compliance to the regulatory requirements related to the Anti-Money Laundering laws, regulations & standards by developing a proper framework including the policies, procedures, identification of AML risk and developing controls in order to mitigate the risk and thereby ensuring an effective compliance program.
Job Responsibilities
Anti-Money Laundering (AML)
- Assume the duties of the Head of Compliance in his/her absence
- Assist the Head of Compliance in implementing and supervising the AML Compliance framework across the organization in line with the regulatory requirements of Central Bank (CB) and correspondent banks
- Conduct AML committee meeting and to take actions based on the decisions along with the Head of Compliance
- Attend seminars and workshops conducted by regulatory authorities (CB) and correspondent banks/service providers
- Assist Central bank (CB) inspection team during their compliance audit
- In the absence of head of Compliance; raise suspicious transactions report to CB of UAE
- Analyse the queries/rejections coming from the banks/service providers and take necessary actions
- Enhance the awareness of employees on AML by developing and delivering effective training materials and test the knowledge level of the staff regularly
- Liaise and assist the AML external auditors
- Ensure periodic testing of new processes and systems and provide report to Head of Compliance
Internal Compliance
- Develop system controls and review the effectiveness periodically provide report to Head of Compliance
- Ensure the sanctions lists are updated as per the changes notified by the authorities provide report to Head of Compliance
- Review and Develop rules in the system for conducting analysis
- Report any non-conformances to the Head of Compliance
Risk Management relating to AML
- Review the AML risk management process
- Identify AML risks in various areas of operations and accordingly propose controls (system/manual) to mitigate it to Head of Compliance
Others relating to AML
- Prepare and consolidate the following reports
Compliance reports
- Leadership Responsibilities
- Ensure the effective achievement of functional objectives through the leadership of function - setting individual objectives, managing performance, developing and motivating staff, provision of formal and informal feedback and appraisal - in order to ensure that the highest level of performance is achieved
Job Requirements
Qualifications
- Bachelor degree in related field
Experience
- 10 years’ experience financial services and at least 5 years in Compliance
Certification
- AML certification from a reputed institution
Knowledge & Skills
- Excellent communication skills
- Effective investigation skills
- Knowledge of international regulatory requirements
- Strong knowledge of AML
- Organization skills
- People management skills
At Al Rostamani Group, we seek talented people who work hard to achieve great things. We consider not only your skills and experience, but also your passion for the role, your desire to learn and how well you align with our core values of care, commitment and vision. If this position represents an opportunity you wish to pursue, we invite you to apply.