Description:
The incumbent will ensure compliance with all rules and regulations within the Company. Review and provide guidance and evaluation on all matters with regards to rules and regulations of SCA, ADSM and DFM. Review compliance with internal policies and procedures and review of all Business Units, assess internal controls and risk management system and provide recommendations to management on any weaknesses noted. To identify any risks associated with the investment business of Al Ramz and suggest mitigation measures to be implemented.
The candidate will also provide expertise to bring about continuous improvement by promoting best practice learning and transfer to the Company. To develop and implement a comprehensive system for Anti-Money Laundering. Coordinate new relationships with third parties such as business partners.
Key Responsibilities:
- Provide advice and recommendation on all matters relating to SCA, ADSM and DFM rules and regulations.
- Keep abreast on all development and changes in the regulatory environment and provide for a mechanism to ensure compliance with rules and regulations within the Organization.
- Develop and periodically review and update the Company’s Code of Conduct to ensure continuing currency and relevance in providing guidance to management and employees.
- Collaborate with other departments to direct compliance issues to appropriate existing channels for investigation and resolution.
- Ensure no fines are given to the company by safeguarding and guaranteeing compliance of the rules and regulations of all entities.
- Continuously monitor and track Brokers’ orders in order reduce backlogs.
- Actively identify any risks associated with the investment business of Al Ramz and provide mitigation strategies.
- Ensure that errors are controlled, and frauds or any other breaches are prevented or detected and reportedly immediately to the relevant authorities.
- conduct investigations on operational tickets raised by employees and and communicate finding to the executive management.
- Respond to alleged violations of rules, regulations, policies, procedures and Code of Conduct by evaluating or recommending the initiation of investigative procedures.
- Act as an independent review and evaluation body to ensure that compliance issues/concerns within the organization are being appropriately evaluated, investigated and resolved.
- Identify potential areas of compliance vulnerability and risk; develop/implement corrective action plans for resolution of problematic issues and provide general guidance on how to avoid or deal with similar situations in the future.
- Lead and manage the risk assurance process and develop organizational understanding about risk and controls.
- Maintain advisory relationship with business units. Act as consultant to management and coach to staff in the techniques of Compliance and best practice adoption.
- Develop and set-up Anti-Money Laundering Compliance Program for the Company that is at par with global and SCA standards on Anti-Money Laundering. Will be responsible in monitoring and reporting potential money laundering activities and ensure that strong and risk-based Customer Due Diligence process is in place and is implemented within the Company.
- Provide reports on a regular basis, and as directed or requested, to keep the Board of Directors and Executive Management informed of the operation and progress of compliance activities.
- Coordinate the registration of employees on the regulator’s portals and ensure adherence by employees of the minimum requirements.
- Keep abreast of the latest development in Business Management, legal and SCA, ADSM and DFM rules and regulations. Stays informed of latest developments in Finance and Securities Brokerage industry and requirements as set by professional bodies.