Director Compliance And Risk Middle East And Turkiye
Dubai, United Arab Emirates
Job Description
Key accountabilities
- Identify and facilitate the management of Regulatory and Business Risks in the Middle East & Turkiye region.
- Ensure the Middle East & Turkiye region meet Group Compliance and Risk requirements.
- Establishing practical policies and procedures to interpret the above in the Middle East & Turkiye region.
- Establish and maintaining KYC/KYB procedures
- Conduct monitoring and oversight to identify and treat potential money laundering and other breaches of regulations.
- Submitting regulatory filings and reports to the Board and risk committees.
- Managing regulatory inspections and relationships with regulators
- Identifying new regulatory developments and reviewing their impact on Travelex Middle East & Turkiye entities
- Assisting management in enforcing regulations and Group policy
- Developing robust and sustainable AML toolkits that deliver legal compliance for the Travelex Middle East & Turkiye entities.
- Maintaining the effectiveness of the AML/CTF program, Privacy Policy (including Data Breach Response Plan), Complaints Resolution Policy and all compliance procedures
- Identifying and addressing compliance challenges/risks relating to new business initiatives and work with business heads and senior managers to mitigate the risks.
- Working closely with L&D around development of compliance training programs and ensure training to all staff.
- Delivering Projects assigned by the Chief Risk and Compliance Officer
- Oversight of the firm\xe2\x80\x99s compliance with the regulatory rules on systems and controls
- Acting as a focal point for the business on all regulatory compliance and business risk matters with the Directors/Senior Management and the MET Compliance & Risk team.
- Advising the business on regulatory requirements prior to new product launch, or in response to queries generated by the business.
- Monitoring the day \xe2\x80\x93 to \xe2\x80\x93 day compliance and risk operations of Travelex Middle East & Turkiye entities and respond promptly to any reasonable request for information made by the regulator or law enforcement agency.
- Be involved in establishing the basis on which a risk-based approach to the prevention of money laundering/terrorist financing is put into practice.
- Responsible for the development and implementation of policies, procedures and programs designed to minimize potential money laundering and terrorism financing risks.
The Director Compliance & Risk is responsible for day-to-day management of compliance and risk activities including:
- Monitor internal Compliance and AML activities across the business
- Ensure AML systems and controls are working, and that reporting is adequate
- Ensuring all transactions are reported where necessary and/or recorded where appropriate
- Ensure local accreditation process meets the latest group policy requirements and that all required items in the group policy are contained within the local processes/manuals
- Sample check the accreditation files for customers, ensure all required documents are present and have been validated as appropriate
- Prepare an annual inspection plan and site visits of relevant customers if deemed appropriate with the implementation of the risk-based approach
- Completion and submission of Monthly Reporting in a timely fashion (and subsequent follow up);
- Sample review transactions, investigate and report those deemed suspicious if appropriate
- Implement annual training plan and monitor the AML Training register to ensure all staff have received AML awareness training relevant to their role in the business
- Ensure a process of recording and producing the training register is thorough, that staff are correctly categorized and that all staff have been included
- Liaise with Law enforcement agencies and regulatory bodies
- MET Compliance & Risk Director or a delegate will receive and review internal suspect reports and finalise those for regulatory reporting as appropriate
- MET Compliance & Risk Head submits an annual compliance report to the regulator
- Active participation and involvement in Group Compliance and AML forums
- Ensure processes around compulsory reporting comply with local regulatory requirements and that all items are being correctly reported within legislated timescale
- Ensuring accurate record keeping in line with regulatory requirements; and
- Work in partnership with country leadership teams to enable better business performance
Acting as the custodian of the Business risk profile in the region by ensuring Risk management processes are in place to enable risk to be identified, managed and reported
- Any other reasonable instructions as required by the business
Key interface/ relationships
- Group and MET Compliance & Risk team
- HR and L&D
- Wholesale, Partners, Retail, Marketing, Legal and Operations teams
- Other department heads
Role-specific experience and skills
- Relevant tertiary qualifications in Law, Business, Finance or Accounting
- At least 15+ years of compliance and risk management experience within the financial services sector, or from a professional services background focusing on financial services
- Ability to effectively interact with senior/executive management and regulators
- Self-motivated with a focus on delivering demonstratable outcomes that support the overall company strategy
- Comfortable with managing multiple priorities and deadlines with strong attention to detail and excellent analytics skills
- Strong oral and written communication skills with an ability to write concise reports for board meetings and senior executives.
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Job Detail
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Job IdJD1606713
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IndustryNot mentioned
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Total Positions1
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Job Type:Full Time
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Salary:Not mentioned
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Employment StatusPermanent
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Job LocationDubai, United Arab Emirates
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EducationNot mentioned