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SENIOR COMPLIANCE OFFICER- BUNA

1.00 to 10.00 Years   Abu Dhabi, United Arab Emirates   17 Feb, 2021
Arab Monetary Fund
1 Jobs Openings
Job LocationAbu Dhabi, United Arab Emirates
EducationBachelor's degree / higher diploma
SalaryNot Mentioned
IndustryFinancial Services
Functional AreaNot Mentioned

Job Description

IntroductionAs the implementation phase of Buna, formerly known as the Arab Regional Payment System (ARPS), project picks up momentum, we are looking for a responsible?Senior?Compliance Officer?to join our founding team. Duties of the Senior Compliance Officer include working cross-functionally to lead, develop, execute, monitor, and communicate Buna?s compliance management system. The job holder is also responsible for ensuring that all systems and operations are up-to-date and in line with compliance requirements and industry best practices. This position will report to the?Chief Risk & Compliance Officer.In this context, the following sections detail the main qualifications, skills and responsibilities related to this position:Job ResponsibilitiesCompliance Management and Implementation

  • Develop and implement the Buna Compliance program
  • Review and test the Buna Compliance program with applicable laws and make recommendations to management as necessary to improve/enhance Buna compliance framework
  • Ensure compliance operations and processes are in line with regulatory and stakeholder requirements including Data Protection
  • Carry out the day-to-day administration of the compliance program
  • Manage compliance metrics, reporting and process design
  • Evaluate compliance systems and ensure adequate software is in place
  • Scan the environment to identify issues, recommend and implement processes
  • Assist with monitoring and testing as required
  • Conduct vendor due diligence
  • Liaise with auditors/examiners during compliance audits/examinations as assigned
  • Conduct compliance risk assessment training workshops
  • Follow up on compliance issues that require investigation
  • Identify and interpret new/changed applicable laws relevant to the Buna business
  • Perform impact analysis of new/changed applicable laws
  • Coordinate, communicate and maintain business relationships with internal and external parties on various legal and compliance related matters
  • Reporting
  • Effectively communicate and report out on plans, status, issues, risks, and requirements to all levels of stakeholders
  • Keep up-to-date on industry and regulatory changes
  • Policy/ Process Development
  • Review and/or draft forms, disclosures, agreements, etc. as the need arises
  • Draft, modify and implement Buna policies, procedures and handbooks, as needed, to reflect industry best practices, the evolving regulatory environment and changes to the business
  • Assist with the preparation, organization, and maintenance of corporate documents
  • Draft contracts and related internal compliance materials
  • Assess, in collaboration with the risk management team, money laundering / terrorist financing risk, recommend mitigation plans and controls
  • Research, analyse and provide recommended remediation efforts for clients that present AML and/or reputational risk

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