ROLE OVERVIEW
Market Securities (Dubai) Limited is seeking a senior compliance professional to act as its MLRO and DFSA Authorised Individual, with primary responsibility for the Firm's AML, CTF, sanctions and financial crime framework, and to act as Deputy Head of Compliance. The MLRO function is a DFSA Licensed Function and the appointee must be approved by the DFSA before taking up the role.
A legal background is strongly preferred, given the role's requirement to interpret legislation and regulatory requirements, assess complex legal and regulatory issues, and provide clear advice to senior management and the business.
KEY RESPONSIBILITIES
A. MLRO - financial crime
- Act as the Firm's designated MLRO and principal point of contact with the DFSA, the FIU and other authorities on AML, sanctions and financial crime matters.
- Own the AML, CTF, sanctions and financial crime policies, procedures, systems and controls and ensure they remain effective and compliant with DFSA and UAE requirements.
- Maintain financial crime risk assessments at Firm, client and business-line level, including the AML Business Risk Assessment.
- Oversee client risk assessment, CDD, EDD, PEP identification, adverse media and sanctions screening, ongoing monitoring and related escalation processes.
- Provide advice and challenge on higher-risk clients, transactions, jurisdictions and business relationships.
- Review and determine internal suspicious activity reports and submit external reports to the FIU through goAML where appropriate.
- Prepare the MLRO Annual Report, the DFSA Annual AML Return and periodic AML management information for the SEO, Board and group Audit Risk Compliance Committee.
- Monitor regulatory and legislative developments in AML, CTF, proliferation financing and sanctions and implement resulting changes within the Firm.
- Design and deliver AML and financial crime training and maintain training records.
- Lead the Firm's response to regulatory inspections, thematic reviews, information requests and audits relating to financial crime.
- Work alongside other MLROs within the group and the onboarding teams to streamline procedures, and client onboardings across the group.
B. Deputy Head of Compliance
- Deputise for the HOC, as required, on day-to-day compliance approvals, committee representation and DFSA contact on compliance matters.
- Provide independent second review and sign-off on policies, regulatory notifications, applications and variations of permission, and Board papers prepared by the HOC.
- Provide regulatory advice to the business on DFSA requirements, new products and business initiatives, interpreting applicable laws, rules and guidance into practical guidance.
- Review complex contractual, legal and regulatory matters relevant to the Firm's regulated activities.
- Provide guidance on regulatory breaches, incidents and complaints, and contribute to compliance oversight of client onboarding, conduct of business, market conduct, financial promotions and cross-border activity.
- Contribute to the Compliance Monitoring Programme and to Board and management compliance reporting.
ADDITIONAL ASSETS
- French language skills
- Law degree or legal qualification
- CAMS certification or equivalent AML / Compliance qualification
