Compliance Officer & MLRO

Full Job Description

Only Bahraini National

– Serve as the appointed MLRO; manage all FIU interactions, including timely STR/SAR submissions, responses to RFIs, and record‑keeping

– Maintain and continuously improve the AML/CFT framework: enterprise AML risk assessment, policies/procedures, Customer Due Diligence (CDD/EDD), ongoing monitoring, sanctions screening, and transaction monitoring appropriate for an insurance intermediary

– Oversee sanctions/PEP screening operations: list management, alert triage and escalation, quality assurance, and audit trails

– Design and execute the AML monitoring plan and thematic reviews across sales, policy administration, claims support, and partner onboarding

– Lead AML/CFT training and awareness (induction and annual refreshers); maintain training registers and attestations

– Produce AML MI for leadership and the Board: STR volumes/quality, alert SLAs, KYC defect rates, high‑risk customer trends, remedial action status

– Manage incident/breach logs and remedial actions; ensure timely closure and lessons learned

– Advise on higher‑risk customers, products, geographies, and distribution channels; approve risk‑based exceptions with documented rationale

– Coordinate independent AML reviews and support internal/external audits and regulatory inspections

– Own AML tooling and documentation repositories; ensure evidence is organized and exam‑ready – Own and maintain the Compliance Framework: policies, procedures, monitoring plan, risk assessment (compliance and AML/CFT), and annual compliance program

– Own and maintain compliance tracker and compliance calendar

– Oversee licensing/authorizations and ensure ongoing compliance with CBUAE rules applicable to insurance brokers/intermediaries (including reporting, returns, notifications, and on‑site inspection readiness)

– Lead regulatory reporting and correspondence; manage information requests, exams, remedial action plans, and board/management reporting

– Design and execute second‑line monitoring and thematic reviews across all regulatory requirements

– Maintain sanctions and PEP screening standards; ensure name screening, list updates, alert handling, and audit trails

– Review of all contracts and agreements prior to their signatures

– Analyzing and implementing all Regulatory Updates as and when they are released