Senior Vice President Compliance - Emirati Talent Job Sharjah area,UAE/Dubai,Finance & Banking

Job Purpose:

Organizing the compliance function and fulfilling compliance requirements to provide reasonable assurance that the Bank complies with all applicable laws and regulations- international, national and banking practices.

Reporting Relationships:
Reports directly to:

Chief Executive Officer

Reported to by:

Vice President
- Financial Crime Compliance / Vice President
- Regulatory Compliance

Duties and Responsibilities:

To monitor on a going basis the quality of compliance in the areas under responsibility, compliance deficiencies and the status of corrective actions.

To prepare the annual compliance program that includes identification of principal compliance risks, objectives and action plans to achieve those objectives.

To work as an interface between the business lines and support divisions concerned, and Compliance in order to:

Communicate on an ongoing basis compliance policies, procedures, information and requirements to employees.

Provide appropriate consultations and guidance to employees on compliance questions, issues and queries.

Update the CEO regarding state of compliance in the business lines and support divisions concerned.

To compile compliance grids and ensure meticulous implementation thereof in the areas of responsibility.

To draft compliance procedures and help the units to implement rules of the Central Bank and/or any other applicable regulations. To ensure deficiencies are identified and alternative controls are implemented.

To provide compliance guidance to the line management in developing business strategies, planning and day-to-day operations, and to assist them in developing solutions to potential issues involving compliance and regulatory risk.

To work with line management to determine the impact of new/changed laws and regulations and if necessary to distribute appropriate compliance guidance to employees and ensure that Compliance Grids are amended.

Ensure that the relevant procedure manuals are amended accordingly.

To participate in compliance risk self-assessment process.

To support in review of new or revised product programs. Ensure that operating procedures are in place to meet all compliance requirements.

To act as a liaison with internal and external audit(s) for matters relating to compliance, and to monitor corrective action that relates to compliance weaknesses or gaps in the areas under responsibility.

To help in developing compliance training programs and coordinate to provide compliance training in line with the unit's assessment of training needs.

To ensure that anti-money laundering monitoring and KYC procedures are performed as required, which includes:

Review of exception-based AML reports.

Annual review of customer and transaction profiles.

Reporting of suspicious activity.

To review all enquiries from the Central Bank and/or other regulatory bodies/authorities and co-ordinate with the areas under responsibility to ensure that all enquiries are handled properly and in a timely manner.

If required, to participate in the work of any compliance related committees.

If required, to participate in the work of regulatory committees formed by the Central Bank or other authorities for the purpose of AML and Combating Terrorist Financing, implementation of Rules and Regulations or other Compliance matters.

Perform any other duties or responsibilities consistent with the role as assigned by management.

Education Level

Required:

Postgraduate in Accounting, Business Administration or related discipline.

Professional / Technical Qualifications / Diplomas:

Advanced knowledge of all compliance, MLRO, AML related rules and regulations.

Experience:

Minimum of 10 years hands-on experience in compliance in the banking industry, which encompasses end-to-end expertise in all related activities.

Other Skills Required for the Job:

Solid knowledge of compliance regulation, market practices, industry trends
Proven ability to lead compliance functions, develop high-performing teams
Expertise in assessing regulatory risks, strengthening compliance frameworks
Strong negotiation skills with the ability to manage complex business situations
Proven ability to drive compliance culture through effective leadership, communication and accountability.