Compliance Officer

Job Summary:

The Compliance Officer plays a key role in ensuring the company operates within the regulatory framework. This position is responsible for developing, implementing, and maintaining compliance programs, policies, and procedures, as well as providing expert guidance to management and staff. The role ensures all business activities align with applicable laws and regulations. Additionally, the Senior Compliance Officer supports the Compliance Manager by overseeing regulatory compliance, ensuring policies are current, managing risk oversight processes, and ensuring full compliance with Qatar Central Bank (QCB) guidelines.

Minimum Qualifications / Requirement:

• Bachelor / master’s degree in law, Business Administration, Audit & Risk Management from a reputable university. A background in insurance and risk management preferably from an insurance company
• Certification/Training in Compliance disciplines
• 5-10 years minimum of progressive experience in Compliance

KEY ACCOUNTABILITIES:

• Responsible in the establishment and monitoring of compliance policies and procedures for all departments and assisting the Compliance Manager on Compliance issue for Al Koot with QCB and any other regulator as applicable.
• Provide training to the employees on compliance issues as and when necessary.
• Coordinate with Compliance Manager to provide relevant compliance updates to the competent departments.
• Ensure compliance of Al Koot’s insurance products and policies with the legal and regulatory requirements.
• Assist Compliance Manager to, identify the actual and potential conflicts of interest and manage them legally and effectively.
• Responsible for the formulation and implementation of Compliance program & Compliance plan
• Receive, review and close all circulars / letters received from QCB or any other regulator.
• Coordinate with Compliance champions for Compliance review meetings and QCB requirements
• Identify and measure regulatory risks and assess its impact on business and ensure compliance with legal aspects and requirements.
• Continuously monitor compliance with statutory obligations and advise management accordingly.
• Formulate compliance checklists to be used for the purpose of ensuring that all information required is provided accordingly.
• Prepare monthly and quarterly reports for executive management meetings.