Compliance Officer - DIFC

Job Description

Engagement details:

• Job Title: Branch Compliance Officer & MLRO
• Client: Leading Reinsurance firm
• Employment type: Permanent role
• Location: Onsite in Dubai, UAE
• Experience level: 3-5 years

Role Overview:

Our client, a leading reinsurance firm and DFSA-regulated entity, is seeking to appoint a Compliance Officer/MLRO to join its Dubai-based team. This role will play a critical part in the effective implementation and day-to-day management of the compliance framework, including AML policies, procedures, and controls, ensuring full adherence to the DFSA Rulebook and applicable DIFC regulations.

Key Responsibilities:

• Counsell and support the branch and its business activities complying with the provisions of applicable laws and regulations as well as related regulatory directions and internal policies.
• Implement recommendations, guidance, and directives as set out in the DFSA Rulebook.
• Develop and maintain monitoring and reporting procedures to identify, report, and address compliance breaches promptly.
• Prepare and submit Suspicious Activity Reports as required by Federal AML legislation.
• Contribute to the creation, implementation, and review of compliance policies and procedures in line with local and international standards.
• Conduct thorough due diligence and identify any potential compliance risks.
• Prepare and execute the annual branch compliance plan.
• Manage compliance inspections and audits.
• Inform and train local employees on compliance matters material to the branch
• Assist in responding to regulatory, auditor, and external authority queries and information requests from UAE authorities and the DFSA concerning relevant regulatory and money laundering matters.
• Participate in the design and testing of internal compliance frameworks and conduct routine monitoring activities, including preparing quarterly compliance reports.
• Collaborate with internal teams to ensure business operations adhere to compliance requirements.

Requirements:

• Understanding of DFSA or FSRA regulation (or equivalent e.g. FCA)
• 3+ years of experience in Compliance within the reinsurance/insurance sector.
• Proficiency in written and spoken English
• Excellent communication and interpersonal skills
• Comfortable working independently and equally effective as part of a collaborative team.