Head of Financial Crime Compliance - MLRO

Job Overview To ensure that Al Fardan Exchange has implemented effective AML / CTF Program as per the CBUAE expectation and Correspondent banks requirements. Key Responsibilities Ensure Al Fardan Exchange compliance with Chapter 16 of the Standards for the Regulations Regarding Licensing and Monitoring of Exchange Business by the Central Bank of the UAE, Retail Payment Service and Card Schemes & SVF regulation issued by the CBUAE from Financial Crime Compliance point of view Design an appropriate AML, CFT, & CPF Program for Al Fardan Exchange to remain compliant with applicable AML, CFT, & CPF laws, regulations, notices, standards, and international best practices at all times. Develop or oversee the development of Al Fardan Exchange’s AML, CFT, & CPF risk assessment methodology and complete the ML/TF, PF, and Sanction Risk assessment on a yearly basis. Establish and maintain appropriate AML, CFT, & CPF policies, procedures, processes, and controls; ensure that all such policies and SOPs are updated annually. Ensure day-to-day compliance of the business with internal AML, CFT, & CPF policies and procedures. Act as the key contact point regarding all AML, CFT, & CPF-related matters/queries from the Central Bank, FIU, and any other competent authorities. Receive suspicious transaction or activity alerts from employees, analyze them, and take appropriate decisions to report all suspicious cases to the FIU. Continuously monitor transactions to identify high-risk, unusual, and suspicious customers/transactions, ensuring that transaction monitoring systems are appropriate and functioning as designed. Submit Suspicious Transaction Reports (STRs), Suspicious Activity Reports (SARs), or other report types to the FIU without delay. Cooperate with and provide the FIU with all information it requires to fulfil its obligations. Develop and execute AML, CFT, & CPF training programs, considering all relevant risks of ML/FT and financing illicit organizations, including ways/means for addressing them. Provide necessary reports to the Board of Directors on all AML, CFT & CPF issues, on a quarterly basis at a minimum. Ensure the retention of all necessary supporting documents for transactions, KYC, monitoring, Suspicious Transaction Reporting, and AML training for the minimum period required for record retention as per CBUAE regulations. Conduct regular gap analyses between Al Fardan Exchange’s existing AML, CFT, & CPF procedures and the most current laws, regulations, notices, and standards of the UAE to determine the extent of compliance. Propose actions required to address any gaps. Prepare Semi-Annual MLRO Reports in accordance with CBUAE regulations. Ensure that Typology Assessments, TMS rule optimization, TMS model validation, Sanction model validation, and CRR model validation are completed in a timely manner. Prepare the FCRA Methodology including PF and Sanctions and conduct FCRA risk assessment on yearly basis. Ensure that all external, internal, and CBUAE AML/CFT observations are closed in a timely manner. Ensure that the AUP audit is completed as per Chapter 16 requirements. Ensure that RFI related CBUAE AML-CTF Examination is submitted on timely Manner. Ensure that AFEX maintains well accepted Risk Rating in the CBUAE records Provide necessary reports to the Board & the Chief Risk & Compliance Officer on all AML, CFT, & CPF issues on a regular basis. Qualification & Experience A minimum of 10 years of experience in AML, CFT & CPF compliance, within any financial institutions(s): or A minimum of five (4) years of experience as MLRO in AML,CFT & CPF compliance within any financial institutions(s) and possess a specific certification related to AML,CFT & CPF compliance. Bachelor's or Master's Degree in Banking, Finance, Economics, Law CAMS, CGSS, ICA - International AML Diploma Language Proficiency Proficient in English language, Arabic would be an advantage. Competencies Report Writing Skills Regulatory Knowledge Investigating Skills Sanctions Due Diligence AML Surveillance Data and Statistics Leadership / Behavioral Competencies Deciding and Initiating action Working with People Presenting and Communicating information Applying Expertise and Technology Planning and Organizing Adopting and Agil