The following roles are in relation to AML/CFT, Economic substance, GoAML, UBO resolutions, and any other compliance & inspection regulation in the United Arab Emirates.

Compliance

• Overseeing the implementation of the Registrar\xe2\x80\x99s AML/CTF policies, procedures, system, and controls
• Ensuring that appropriate policies, procedures, systems, and controls are developed, established, and maintained across the Registrar to monitor day-to-day operations
• Assess and regularly review the effectiveness of the policies, procedures, systems, and controls in preventing money laundering and terrorism financing
• Being the Registrar\xe2\x80\x99s key person in implementing the AML/CTF strategies
• Supporting and coordinating senior management focuses on managing the Registrar\xe2\x80\x99s ML, TF, and sanctions risks
• Collaborate with the Law Enforcement Agencies (LEA), Financial Intelligence Unit (FIU), or other State Authorities, provide them with all requested data, and allow their authorized employees to view the necessary records and documents that will allow them to perform their duties
• Detect activity relating to money laundering crime and related predicate offenses and the financing of terrorism or illegal organizations
• Review, scrutinize and study records, receive data concerning Suspicious Activity, and take decisions to either notify the FIU or maintain the company registration with the reasons for maintaining while maintaining complete confidentiality
• Review and approve or decline company registration, renewals, or amendments
• Prepare, execute, and document ongoing training and development programmes and plans for employees on Money Laundering and the Financing of Terrorism and Financing of Illegal Organizations and the means to combat them
• Ensure all staff employed in the AML/CTF environment (including the Head of Compliance / Compliance Manager) go through the \'fit and proper\' test
• Evaluates team members\xe2\x80\x99 knowledge, educate and train them on related laws, procedures and federal regulations.
• Coordinating gap assessments with impacted departments. Follow-up to ensure any gap is subject to a clear action plan and is completed within required timelines.
• Carry out periodic risk assessments to identify current and new risk type, level, significance and scope and take the necessary mitigation action.
• Carry out compliance training programs to relevant and impacted departments, individuals and third parties impacted and subject to compliance regulations.

Inspection

• The principal monitoring objective is to prevent and deter conduct that may cause reputational damage to Registrar and the UAE.
• Overseeing the implementation of the Registrar\xe2\x80\x99s inspection policies, procedures, system, and controls
• Ensuring that appropriate policies, procedures, systems, and controls are developed, established, and maintained across the Registrar to monitor day-to-day operations
• Assess and regularly review the effectiveness of the policies, procedures, systems, and controls in preventing any suspicious activities
• Being the Registrar\xe2\x80\x99s key person in implementing the inspection strategies and key performance indicators
• Review and approve the inspection plan and ensure inspections are being conducted as per scheduled plans
• Review and scrutinize inspection results/reports,
• Ensure a proper remediation plan is communicated to the client wherever applicable.
• Prepare, execute, and document ongoing training and development programs and plans for employees on inspection
• Ensure all staff employed in the inspection environment (including the Head of Inspection / Inspection Manager) go through the \'fit and proper test
• Act decisively and ensure procedural fairness, proportionality, and transparency when assessing and taking regulatory actions
• Review and make detailed recommendations for proportionate enforcement action where appropriate
• Supporting the conduct of civil and administrative enforcement proceedings

Bayt