You will be the registered compliance officer and money laundering reporting officer for SCB DIFC with the Dubai Financial Services Authority (DFSA).
Provide team leadership and have responsibility for and oversight of the management of regulatory product risks in SCB DIFC and provides advice to ensure that the business is meeting the bank's and the DFSA's expectations.
To work closely with the Business Compliance Officers in the region to understand regulatory product risks within those business in the DIFC and non presence countries and, when required, partner with Business Compliance to provide advice and assurance to ensure that the bank is meeting the relevant Regulators' expectations.
To proactively develop regulatory relationships with the DFSA through a structured engagement programme and consistent adherence to regulatory expectations.
Responsible for overseeing SCB DIFC Branch management of its regulatory and reputational risk from the perspective of the DIFC and the SCB footprint in non presence.
Regulatory and Product Risk Identification and Policy Setting in SCB DIFC Branch
DIFC compliance officer:
* Act and be registered as the DIFC compliance officer and money laundering reporting officer for SCB DIFC.
* Maintains a strong and proactive relationship with the DFSA including maintaining the regulatory relationship plan.
* Provides proactive monitoring and oversight of the DIFC branch activities and businesses and to ensure SCB DIFC is meeting the requirements of the DFSA rules and regulation.
* Support DIFC Senior Executive Officer in the increased governance requirements in the DIFC including attending the DIFC MANCO, UAE CORC, maintaining a separate DIFC regulatory compliance issues/risk register, monitoring location of individuals within the DIFC.
* Monitor changes/developments in DIFC/DFSA law/regulation and cascade to business and to coordinate lobbying/thought leadership efforts with the DFSA.
* Member of UAE CORC, DIFC MANCO, Dubai Offshore Booking location Governance Committee and UAE Compliance top team meeting.
* Support private bank in DFSA regulatory matters.
* Deal with non-routine correspondence to the DFSA (e.g. product approvals, notifications, licence applications/variations)
Partnership with Business Compliance for DIFC
* Acts as the point of contact between Business compliance MENA and DIFC Country Compliance with respect to the DIFC.
* In close partnership with Business Compliance, to provide advice to business on regulatory compliance queries affecting the DIFC businesses including advice on local regulations and Group/Business compliance policies.
* Work closely with the business compliance product/functional specialists including private banking compliance, International banking compliance, financial markets compliance, transaction banking compliance, private side compliance, control room and FCR to ensure that integrated and consistent advice is delivered.
* Responsible for assisting Business Compliance so that Country Compliance can assess, defend and report on the full range of SCB compliance issues and their handing in the DIFC.
Non- Presence Countries
* Provide compliance advice and support both to the non-presence countries (e.g. Kuwait) and rep office countries (e.g. Egypt, Libya, Iraq) where there is currently either no or limited local compliance support.
Regulatory Relationship Management
* In partnership with the SEO develop and maintain excellent relationships with the DFSA, DIFC and other regulatory bodies through the execution of a structured regulatory relationship plan.
Responsible for ensuring the business is properly prepared for regulatory inspections.
Regulatory Advice
* Provide timely local regulatory advice and recommendations to the business (including on Prudential Regulation, in partnership with Finance and Risk Functions) on DFSA/DIFC regulatory matters and proactively monitors business specific regulatory developments.
* P
Job Details
| Date Posted: | 2013-03-04 |
| Job Location: | Dubai, United Arab Emirates |
| Job Role: | Other |
| Company Industry: | Other |
Preferred Candidate
| Career Level: | Entry Level |
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