Compliance & MLRO Officer (Bahraini)

Job Description

CompanyOur client is one of the leading insurance companies in Bahrain. They are currently looking to hire a Compliance & MLRO Officer to be based in Bahrain.Duties & Responsibilities:

• Support the Companys business in Bahrain to maintain a strong Compliance Culture and ensuring compliance with all regulatory requirements.
• Responsible for supporting the Compliance department in managing the level of compliance risk within the business within tolerances agreed by the Board and ensuring that the Company has adequate processed for managing the Compliance and AMLICFT risk.
• As necessary, develop and maintain effective relationships with all Regulators and keep up to date with the regulatory and legislative environment.
• Support the delivery of the Compliance Plan to provide a coherent strategic framework, a consistent development programme and to meet the Company requirements.
• Enforcing, maintaining and reviewing the Companys AML/CFT policies and procedures as necessary.
• Ensuring that the licensee complies with the AML Law and any other applicable legislations and Financial Crime Module of CBB Insurance Rulebook (Volume 3) and AML CFT Rules.
• Ensuring day-to-day compliance with the Companys Framework for Combating Financial Crime.
• Handle requests for AMLCFT, Sanctions and other related infonnation from relevant authorities as necessary.
• Statutory responsibilities under the CBB regulations to act as the MLRO.
• When necessary acting as the Companys main point of contact in respect of handling internal suspicious transactions reports from the staff and as the main contact for the Financial Intelligence Unit. he CBB, and other concerned bodies regarding AML CFT when making extemal suspicious transactions reports to the Financial Intelligence Unit and Compliance Directorate
• Taking reasonable steps to establish and maintain adequate arrangements for staff awareness and training on AML/CFT matters. Plan and deliver compliance and AML training as necessary.
• Supporting the Compliance department in producing the necessary reports on the effectiveness of the Companys AML/CFT controls, for consideration by senior management.
• On-going monitoring of high-risk customer accounts.
• Ensuring that the Company maintains all necessary CDD, transactions, STR and staff training records for the required periods.
• Advise staff on AMLICFT, Fraud, Sanctions, Anti-Bribery and other Conduct related matters

• Bachelors degree
• Prior years of experience in the insurance industry is helpful.
• Good conceptual understanding of insurance, compliance, AMLCFT and Sanctions aspects.
• Insurance/controlling/operations background.
• Good analytical and organizational skills.
• Insurance/Takaful business know-how.
• Self-motivated performer and excellent communicator.
• Broad knowledge of applicable laws and regulations in the jurisdictions where the Company operates
• Commercial acumen
• Influencing and Negotiation skills
• Good communication skills
• Committed team player with enthusiasm and drive who is stress resilient and result oriented.

Keyskills :
Compliance Negotiation analytical Fraud Influencing takaful communication Organizational Commercial

About Company

Propel Consult was established in 2009 in the Kingdom of Bahrain by Jamie Groom and Barry Prost to provide high quality recruitment and management consultancy services to employers in the Middle East. The company’s original focus was on the Construction & Engineering and Oil & Gas sectors. Due to client demand, this has grown to include the professional services disciplines of Banking & Finance, Legal, Technology and Human Resources.