Alternative Compliance Offier

Job Title: Alternative Compliance Officer (ACO)
Department: Compliance / AML
Location: UAE
Reporting To: Compliance Officer (CO)

Job Purpose

The Alternative Compliance Officer (ACO) supports the Compliance Officer in managing and maintaining the organization’s AML/CFT framework in line with UAE laws, Central Bank of the UAE (CBUAE) standards, and international best practices. The ACO ensures effective implementation of policies, transaction monitoring, reporting, training, and continuity of the compliance function, especially during the absence of the CO.

Key ResponsibilitiesPolicy & Program Support

• Support the CO in designing, implementing, and maintaining the AML/CFT compliance program in line with UAE laws, CBUAE standards, and international best practices.
• Assist in establishing and maintaining AML/CFT policies, procedures, processes, and internal controls.
• Ensure day-to-day business compliance with internal AML/CFT/PF policies.
• Support in developing and updating the institution’s AML/CFT/PF risk assessment.
• Conduct gap analyses and propose corrective actions to align procedures with current laws, regulations, and standards.

Transaction Monitoring & Reporting Support

• Support ongoing monitoring of transactions to identify high-risk, unusual, or suspicious customers and activities.
• Receive and review transaction alerts and provide analysis to the CO.
• Assist in preparing Suspicious Transaction Reports (STRs)/SARs and other regulatory reports for submission by the CO.
• Ensure transaction monitoring systems (TMS) are appropriate and functioning as designed.
• Escalate critical or urgent compliance matters to the CO in a timely manner.

Regulatory & Documentation Support

• Act as the point of contact for AML/CFT matters during the absence of the CO.
• Maintain supporting documentation for transactions, KYC, monitoring, STR/SAR reporting, and AML training.
• Maintain trackers for CBUAE notices, regulatory updates, and TMS changes under CO supervision.
• Support preparation of AML Management Reports, Monthly MIS, Compliance Committee materials, and Bi-Annual Compliance Reports.
• Should be able to draft policy and other compliance related documents.

Training & Awareness

• Assist in developing and executing AML/CFT training programs for staff.
• Support induction and refresher training, including updates on new CBUAE notices, guidance, and typologies.
• Maintain training records and ensure staff awareness of regulatory changes.
• Complete a minimum of 48 hours of external AML/CFT training annually as part of Continuous Professional Development (CPD).

Continuity of Compliance Function

• Ensure seamless continuation of AML/CFT operations during the CO’s absence, including monitoring, reporting, and governance activities.
• Support execution of corrective actions recommended by the CO, internal audit, or regulators.
• Assist in implementing changes to the TMS in coordination with the CO.

Qualifications & Experience

• Bachelor’s degree in Finance, Accounting, Business, Law, or a related field.
• Prior experience in AML/CFT, compliance, or risk management within financial services/exchange houses preferred.
• Knowledge of UAE AML/CFT regulations and CBUAE guidelines.

Skills & Competencies

• Strong analytical and investigation skills.
• High attention to detail and accuracy.
• Good communication and reporting skills.
• Ability to handle confidential information with integrity.
• Strong organizational and time-management abilities.
• Team-oriented with the ability to work independently.

Job Type: Full-time

Pay: AED5,000.00 - AED7,000.00 per month