About Us: Baraka’s mission is to help millions of young people across the Middle East find financial empowerment. Our app helps young professionals in the GCC region trade stocks, buy index funds, discover financial news, and do much more. We’re here to educate and empower the Middle East’s next generation of investors. We’re a world class team of ambitious, young professionals. Baraka was part of Y Combinator’s Summer 2021 cohort. Shortly after, we raised Seed funding from a host of top tier VCs that have backed iconic companies like Facebook, Alibaba, Slack and many more. Our team includes pros who have worked at Barclays, Trade Republic, Microsoft, Accenture, Klarna, Tamara, Revolut, the FCA, and a number of other leading global companies. But our real secret is hiring people who care about their colleagues and are excited to build something big. This culture helps fuel a high-trust workplace, which allows us to do fun things, like offer work from home days and other flexible work arrangements. Our team is constantly looking to improve and works hard to build each other up. We win and lose together and we’re all seriously committed to your growth. About the role: This is a strategic senior level role, reporting directly to the CEO and Board of Directors. You will be leading Baraka’s compliance function and so the role requires strong leadership, as well as sound, technical competencies to handle complex matters and work with colleagues at all levels. As this is an ‘authorised role’, upon joining the company, you will be required to be authorised by the Dubai Financial Services Authority (“DFSA”) for the licensed, senior management functions of Compliance Officer and Money Laundering Reporting Officer (together, “CMLRO”). You will be a regulatory expert, with strong knowledge of the DFSA Rulebook, the UAE’s AML framework, and be familiar with FATF standards, as well as other international standards relating to AML and KYC.You will be leading Baraka’s regulatory licensing applications and the associated engagement with the DFSA. You will be responsible for protecting Baraka’s brand and ensuring that any financial promotions are signed off and are clear, fair, and not misleading.
Key Responsibilities:

• Main point of contact with the regulator. Leading Baraka’s licensing application/s and responding to regulatory requests.
• Horizon scanning - keep abreast of regulatory developments and changes and assess impact on the business.
• Compliance monitoring
• Interpreting regulation and being the key regulatory adviser to the business.
• Preparing for and leading any regulator-led risk assessments on the business.
• You will work closely with various business lines (engineering, product, business, customer services, etc) and provide expert guidance on interpretation of regulation. During product development, you will be responsible for traceability throughout product development, and then provide compliance assurance throughout the product development cycle.
• Filing regulatory returns, keeping policies/procedures updated (AML manual, Risk Policy, Compliance Procedures Manual, Regulatory Business Plan, etc). Developing, establishing and implementing additional compliance policy and procedures, where required.
• Protecting and enhancing the organisation’s reputation and brand value.
• Maintaining the effective systems and controls to monitor compliance.
• Ensuring that procedures are in place in respect to DFSA’s regulatory requirements for the prevention of financial crime.
• Ensure the Risk Management Framework and AML Business Risk Assessment are periodically reviewed and updated in light of the business’s development of new products and services.
• Provide quarterly updates to the Board of Directors.
• Provide AML training to staff and all new joiners.
• Updating Baraka’s policies/procedures.

Requirements

• 8+ years for a FinTech, start-up, financial services, compliance consultancy, or a FS regulator.
• CAMS or equivalent certification/familiarity with AML/CFT, licensing requirements, and industry best practices (FATF, etc).
• CISI certificates: (1) DIFC Rules and Regulations; and (2) UAE Financial Rules and Regulations.
• Bachelors degree in Law or equivalent.
• Well versed in the DFSA Rulebook and general marketing and financial promotions law and regulation.
• Analytical dexterity, ability to interpret law and regulation and provide clear guidance based on their interpretation.
• Strong process and project management skills with attention to detail, proactive, and well-organised.
• Self-motivated, critical thinker, and adept at working independently, covering multiple and varied tasks.
• Intuitive, highly ethical, and comfortable to question and challenge/
• Strong analytical and research skills, and desire to create documentation and reporting.
• Strong experience in leading regulatory licensing applications and preparing the business for the license upgrades (pre and post implementation).

Benefits

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• Competitive Tax-Free Salary + Equity in one of the fastest growing fintech's in MENA
• Comprehensive Health Insurance
• Generous annual paid vacation days
• Relocation package and visa sponsorship to welcome you wherever you are currently based
• Get $100 USD credit with Baraka to get started in your investing journey