AML/Compliance Officer

Full time at VISTA CORPORATE BUSINESS SETUP in UAE

Posted on February 8, 2025

Job details

Job Summary We are seeking a detail-oriented and experienced AML Compliance Officer to ensure compliance with regulatory requirements and combat money laundering and terrorist financing risks within our Designated Non-Financial Business or Profession (DNFBP). The AML Compliance Officer will develop, implement, and maintain the organization's compliance framework in accordance with applicable laws, regulations, and industry best practices. Key Responsibilities

AML Policy Development and Implementation: Develop and update AML/CFT (Combating the Financing of Terrorism) policies and procedures in line with local and international regulatory requirements. Implement risk-based approaches to identify, assess, and mitigate money laundering and terrorism financing risks.
Regulatory Compliance: Monitor and ensure compliance with relevant AML/CFT regulations and guidelines issued by regulatory authorities. Serve as the main point of contact with regulators and law enforcement agencies regarding AML matters.
Customer Due Diligence (CDD): Oversee the onboarding process to ensure proper Know Your Customer (KYC) and Enhanced Due Diligence (EDD) practices are applied. Periodically review and update customer profiles and risk assessments.
Suspicious Activity Monitoring and Reporting: Identify, investigate, and report suspicious transactions or activities to the Financial Intelligence Unit (FIU). Maintain a register of suspicious transaction reports (STRs) and ensure timely submissions.
Training and Awareness: Provide AML/CFT training programs to employees, including identifying red flags and understanding reporting obligations. Promote a culture of compliance within the organization.
Risk Assessment: Conduct regular AML/CFT risk assessments and ensure the findings are addressed appropriately. Maintain an updated risk register for the business.
Auditing and Reporting: Conduct internal AML audits to evaluate the effectiveness of the compliance program. Prepare periodic AML/CFT compliance reports for senior management.
Record Keeping: Ensure accurate and secure record-keeping of all AML-related documents and reports in compliance with retention requirements.

Qualifications and Skills

Bachelor’s degree in Law, Business, Finance, or a related field (Master’s preferred).
Minimum [X years] of experience in AML compliance, preferably within a DNFBP environment (e.g., real estate, precious metals, accounting, law firms).
Certified AML specialist (CAMS, ICA Diploma, or equivalent) is a strong advantage.
In-depth knowledge of AML/CFT regulations, FATF recommendations, and local laws governing DNFBPs.
Excellent analytical skills with the ability to identify and mitigate risks effectively.
Strong communication and interpersonal skills.
Proficiency in compliance software and tools for transaction monitoring and record-keeping.
High ethical standards and attention to detail.

Preferred Experience

Familiarity with risk-based approaches specific to DNFBP sectors.
Experience with regulatory examinations or audits.

Job Type: Full-time Pay: AED3,000.00 - AED7,500.00 per month #J-18808-Ljbffr

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