Associate Director - Regulatory Compliance Manager
Job Description
Job Purpose:
The Regulatory Compliance Manager will oversee Regulatory Compliance in accordance with UAE Central Bank and UAE Securities and Commodities Authority (SCA) regulations. The role involves ensuring adherence to a number of Regulations, including consumer protection, outsourcing, corporate governance, licensing, client classification, suitability, and capital adequacy requirements.
The Compliance Manager will be responsible for monitoring regulatory developments, implementing compliance frameworks, conducting compliance reviews, and engaging with regulators.
Key Accountabilities:
- UAE Central Bank Regulatory Compliance
Consumer Protection Compliance:
Ensure the firm complies with UAE Central Bank Consumer Protection Regulations.
Oversee complaint-handling mechanisms and ensure fair treatment of customers.
Conduct reviews of customer-facing policies, contracts, and disclosures to ensure compliance.
Outsourcing Regulation Compliance:
Ensure adherence to outsourcing regulations, including due diligence, contractual compliance, and risk assessment of service providers.
Monitor the firms outsourcing arrangements and ensure regulatory reporting requirements are met.
Corporate Governance & Employment Compliance:
Oversee compliance with corporate governance requirements, ensuring board and management decisions align with regulatory expectations.
Monitor adherence to employment regulations, including fit and proper requirements for senior management and staff.
Conduct periodic training on corporate governance and compliance obligations.- UAE Securities and Commodities Authority (SCA) Compliance
Licensing & Regulatory Approvals:
Ensure the firm maintains valid SCA licenses and meets all regulatory obligations.
Oversee licensing applications, renewals, and regulatory approvals for new business activities.
Liaise with SCA on regulatory queries and ensure timely submission of required reports.
Client Classification & Suitability:
Ensure compliance with client classification regulations, including high-net-worth individual (CB UAE) and professional/ordinary investor (SCA).
Monitor adherence to suitability and appropriateness assessments for investment products and financial services.
Conduct periodic internal audits and controls to verify compliance with client categorization rules.
Capital Adequacy & Financial Requirements:
Oversee compliance with capital adequacy requirements (as a LOD2 in collaboration with the Risks Management Team which holds primary technical compliance responsibility.