Department :- Compliance Department
Location :- Sharjah, UAE
Email :- hr@staffconnect.ae
Whats App :- +971 529421270
Job Summary
The role supports the Head of Regulatory Compliance in ensuring the bank’s compliance with all regulatory requirements beyond Financial Crime (AML, KYC, CTF, Sanctions). The position is responsible for conducting bank-wide assurance reviews, including CBUAE regulatory assessments via the RMS system, analyzing evidence, identifying gaps, and following up with stakeholders. The role also manages non-regulatory assurance activities as required, coordinates internal MIS and dashboards, and reviews regulatory notices to ensure accuracy, clarity of actions, ownership, and deadlines before circulation.
Duties and Responsibilities
1) CBUAE Communication
- Cooperating and assisting during regulatory examinations, inspections or requests.
- Assist the Head of Regulatory Compliance in facilitating correspondence (including approvals and returns) between Organisation and the CBUAE. This pertains to all aspects, whilst maintaining positive relationships with the CBUAE and other applicable authorities on related matters.
- Provide assurance that CBUAE ongoing reporting and submission are met and completed in a timely manner.
- Responsible for conducting Regulatory Compliance assessments through the RMS in line with the defined frequency of the assessment, this includes communicating and following up with respective owners on any open items or relevant discussions and ensuring that breach registers are updated accordingly.
- Continue building and updating the internal Regulatory library which contains the list of key CBUAE regulations (on article by articles basis)
- Responsible for updating the breach registers continuously.
- Follow up with respective stakeholders on the open non-compliance items under assessment/ gap analysis exercise
- Assist in preparing the report and reporting the identified “non-compliance” items (regulations) to the senior management and/or internal committees and the material breaches to the CBUAE
2) Regulatory Compliance
- Managing regulatory correspondences, including circulating Notices/Regulations, analyzing their subsequent impact (if any) and follow-ups with stakeholders on open action items, leasing with Head of Regulatory Compliance in submitting the required feedback to the regulators where required.
- Provide proper regulatory advisory to the internal stakeholders when required in a timely manner.
- Ensuring that the regulatory tracker sheets are updated on a daily basis (Registration of all Regulatory Notices accurately) and do the required follow-ups.
- Ensure that the weekly dashboard of regulations/ Notices received from CBUAE over the previous working week has been prepared by Regulatory officers and shared with EMC and/or identified other stakeholders.
- Assisting with FATCA/CRS obligations to ensure appropriate guidance and advice, monitoring, reporting and training is undertaken, and deadlines are met (as required). This includes being responsible for the FATCA/CRS annual reporting, including the preparation (and validation) of the customer data to be reported.
- Reviewing product programs, policies, procedures to ensure all regulatory requirements are sufficiently addressed, including highlighting risks and suggesting appropriate controls.
- Ensuring that all the Internal Regulatory registers are updated on a daily basis.
- Preparation of regulatory compliance submissions to various governance committees (including the Compliance Committee, and Board Risk Committee).
- Assisting in developing training material on regulatory matters, in accordance with the annual Training & Awareness Plan and ad hoc training (if required on a ‘trigger event’-basis).
- Performing any other duties or responsibilities consistent with the role as assigned by the Head of Regulatory Compliance/ Head of Compliance.
- When ordinarily carrying out his/ her duties each employee must be extremely vigilant and follow the applicable policies which include, but are not limited to, management of bribery-corruption risk, conflicts of interest, market abuse, and more generally, ethical conduct as described in Bank’s Code of Conduct and Ethics
3) Independence of Operation
- Reports to Head of Regulatory Compliance. Head of Regulatory Compliance reports to the Head of Compliance, who has unrestricted access to the Board
4) Accountability / Decision Making
- Needs to understand accountability for key tasks which are required to be conducted in terms of internal procedures. Must take and make decisions in line with internal processes/mandates
5) Communication with
- Head of Department/ Department Staff – Assignment planning, regulatory updates, training; reporting, product reviews and MI.
- Regulators/ Government Agencies – Lead liaison with CBUAE on branch and product related requests and submissions. Co-ordination of internal and external inspections as and when required.
Required Skills & Qualifications
- Tertiary education with a Bachelor’s degree as a minimum.
- Any Compliance qualification or certification, such as ACAMS and/or topped up with a diploma, course in regulatory compliance. Such qualifications should be from an internationally recognized body will be considered as an advantage
- Minimum 8 years’ experience in a banking / financial institution environment of which (hard requirement) 5 years’ experience should have been in Regulatory Compliance or similar
- Preferably experience in Audit or Legal department for not less than 2 years
- In depth knowledge of CBUAE regulations and other related AML / CTF regulations
- Proficiency written and oral communication skills
- Audit or Legal background is of added value
- Analytical, problem solving and decision-making skills
- Attention to details
- Independent and self-starter
- Organizing skills
- Strong team player