Senior Compliance Specialist

Company Description

Property Shop Investment (PSI), established in 2007, is the No. 1 largest private real estate company in Abu Dhabi and Dubai. Known as a platinum real estate company, PSI has created prominent brand recognition with esteemed developers in the UAE. We provide a wide range of real estate services aimed at exceeding expectations and inspiring people while ensuring a hassle-free real estate experience. Our commitment to sustainable and dynamic performance has fueled our continuous success and impactful milestones.

Role Description

• Develop, implement, and maintain an effective AML/CFT compliance program that includes policies, procedures, and controls to ensure operational compliance.
• Ensure that the AML/CFT compliance program effectively prevents, detects, and responds to compliance risks related to money laundering and terrorist financing.
• Update the AML/CFT program to reflect changes in the law, regulatory requirements, and emerging risks. - Conduct and oversee the compliance risk assessment process to identify areas of potential vulnerability and risk; develop and implement corrective action plans for resolution of problematic issues.
• Regularly conduct risk assessments to identify the potential AML/CFT risks associated with customer behaviors, product offerings, and the geographies in which the company operates
• Train employees on regulations and industry practices and the adoption of internal policies and procedures.
• Provide guidance on the proper application and interpretation of laws, regulations, and policies applicable to AML and CFT.
• Manage and maintain the compliance monitoring and testing program, ensuring that audit and review findings are resolved in a timely manner
• Oversee the due diligence processes for high-risk clients, including enhanced due diligence for politically exposed persons (PEPs), high-net-worth individuals, and complex corporate structures.
• Ensure that due diligence practices are thorough and adhere to legal and regulatory standards to protect the company from potential exposure to financial crime.
• Train, mentor, and oversee the compliance team to ensure that they are knowledgeable about applicable AML/CFT laws and regulations, and that they perform their duties effectively.
• Conducting the MLRO report for the compliance performance and provide key updates to the board and senior management, including reporting on compliance breaches and corrective actions.
• Liaise with regulatory bodies and law enforcement agencies as required, and ensure timely submissions of required AML/CFT reports and disclosures.
• Ensure comprehensive, timely, and accurate reporting of suspicious activities and transactions to the appropriate authorities. - Stay abreast of new regulatory developments and enforcement actions in the AML/CFT arena and adjust compliance programs as necessary.
• Develop and deliver training programs that ensure all employees are aware of AML/CFT laws, regulations, and company policies, and understand their role in maintaining compliance.
• Act as the primary compliance advisor to senior management and the board of directors, providing regular updates on compliance initiatives, issues, and trends.
• Engage with law enforcement and regulatory bodies as needed, representing the organization in matters related to AML/CFT compliance.
• Lead investigations into AML/CFT breaches and ensure appropriate corrective measures are taken.
• Leverage technology solutions to enhance the efficiency and effectiveness of the AML/CFT compliance program.
• Oversee the implementation of technological tools and systems that aid in monitoring, reporting, and analyzing transactions for suspicious activities.

Qualifications

• Compliance Management, Regulatory Compliance, and Compliance Auditing skills
• Experience in developing and implementing compliance policies and procedures
• Strong understanding of local real estate laws and regulations in the UAE
• Excellent written and verbal communication skills in Arabic and English
• Analytical thinking and problem-solving skills
• Ability to work independently and as part of a team
• Bachelor's degree in Law, Finance, Business Administration, or a related field
• Experience in the real estate industry is a plus

Job Type: Full-time