Job Description
Established in the 1930s as a trading business, Al-Futtaim Group today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Structured into five operating divisions; automotive, financial services, real estate, retail and healthcare; employing more than 35,000 employees across more than 20 countries in the Middle East, Asia and Africa, Al-Futtaim Group partners with over 200 of the world's most admired and innovative brands. Al-Futtaim Group’s entrepreneurship and relentless customer focus enables the organization to continue to grow and expand; responding to the changing needs of our customers within the societies in which we operate.
By upholding our values of respect, excellence, collaboration and integrity; Al-Futtaim Group continues to enrich the lives and aspirations of our customers each and every day.
Job Responsibilities:
We are currently seeking an Assistant Manager to join our Compliance department. The Assistant Manager Compliance will be responsible for ensuring Orient's strict adherence to all relevant laws, regulations, and internal policies. This role involves developing and implementing comprehensive compliance programs and frameworks, as well as proactively identifying and mitigating potential risks of non-compliance.
What you will do:
- Provide comprehensive compliance oversight for the entire organization
- Develop and maintain comprehensive policies, guidelines, procedures, and internal controls aligned with all applicable laws and regulations
- Create and implement a robust compliance framework
- Stay informed about all current internal and external compliance regulations and identify any potential risks to the institution, taking proactive measures to mitigate non-compliance
- Responsible for seeking compliance Advice from the compliance committee, organize and participate in the compliance committee meeting
- Conduct due diligence activities in accordance with established processes and regulatory guidelines
- Conduct comprehensive enterprise-wide AML/CFT risk assessments and client risk assessment
- Track and manage all relevant documents in accordance with the record retention policy
- Evaluate and deploy effective screening and transaction monitoring systems to mitigate risks
- Proactively detect potential red flags and control deficiencies in KYC and client onboarding procedures
- Investigate and prepare suspicious activity reports (SARs) and suspicious transaction reports (STRs) as required
- Collaborate closely with Internal Audit, Operations, Finance, Business Development, and other stakeholders to ensure effective implementation of the compliance program
- Work closely with department heads to address compliance-related challenges in a timely and efficient manner
- Evaluate high-risk relationships, especially those requiring Senior Management attention, and ensure that all potential risks are clearly communicated and approved
- Ensure the timely submission of all regulatory reports to the relevant authorities
- Develop and deliver comprehensive training programs to raise awareness and understanding of AML/CFT and other relevant legal and regulatory obligations
- Collaborate diligently with the Supervisory Authority and external auditors to ensure the timely provision of necessary requirements for the examination
Required skills to be successful:
- Excellent communication skills, both verbal and written
- Excellent organizational skills, having the ability to prioritize workload whilst being resilient and being able to cope well under pressure
- Strong interpersonal skills and an ability to converse confidently with various levels of management
- Working knowledge of transaction monitoring software and screening tools
- A strong understanding of applicable laws and regulations
What equips you for the role:
- Bachelor’s degree in law, Finance, Commerce, Business Administration, or a similar field
- A minimum of 4 years of relevant compliance experience in the banking or insurance industry
- In-depth knowledge of industry best practices, internal controls, and regulatory requirements, combined with strong analytical skills in compliance
About Orient Insurance PJSC:
Orient Insurance Company commenced operations in 1982 as a part of the reputed Al-Futtaim Group and has since recorded a progressively steady growth. The Company is counted among the leaders in the UAE insurance market. Orient Insurance Company has a paid-up capital of AED 500 Million which is the highest in the insurance industry in UAE. With head office in Dubai, the company serves its clientele through an extensive branch network in Jebel Ali, Abu Dhabi, Al Ain, Sharjah and Ras Al Khaimah in UAE, Muscat in Sultanate of Oman and Bahrain.
