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Compliance Officer at RAKBANK | Dubai

On-site Full-time

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Experience Level

Mid to Senior

Qualifications

Minimum Qualification:Bachelor’s degree in Law, Finance, Business Administration, or a related field is mandatory. Professional certifications such as CAMS, ICA, CFE, or equivalents are preferred. Minimum Experience:3 to 5 years of relevant experience in compliance, audit, or risk management within the banking or financial services sector. Demonstrated experience in compliance monitoring, control testing, or internal audits. Strong understanding of regulatory frameworks, especially CBUAE, FATF, and international financial crime compliance standards. Experience in preparing compliance reports, conducting risk assessments, and tracking issues.

About the job

Join RAKBANK as a Compliance Officer and play a vital role in enhancing our Compliance Monitoring function. You will independently conduct thorough reviews that encompass regulatory compliance, financial crime compliance (FCC), and conduct risks, as outlined in our Compliance Monitoring Plan (CMP). Your efforts will ensure the efficiency and effectiveness of our internal controls and compliance frameworks across the organization.

  • Implement the approved compliance monitoring plan to evaluate the robustness of internal controls within various business units through thematic reviews.
  • Document monitoring findings and promptly escalate any issues to the appropriate stakeholders.
  • Assist in the creation and execution of corrective action plans to remediate identified gaps.
  • Maintain comprehensive records of monitoring activities, including risk registers and issue logs.
  • Prepare and present compliance monitoring reports and insights for both the business unit and management.
  • Contribute to the improvement of compliance policies, procedures, and training based on monitoring results.
  • Help identify emerging risk typologies or patterns through continuous reviews and data analysis.
  • Ensure full compliance with internal policies, procedures, and standards in line with applicable regulatory and statutory requirements.
  • Monitor and interpret updates from the Central Bank of the UAE (CBUAE) and other relevant regulatory authorities.
  • Support the bank’s readiness for regulatory inspections and audits by keeping compliance documentation current and accurate.
  • Conduct scheduled desktop and thematic reviews as per the compliance monitoring agenda.
  • Aggregate and assess monitoring results using a pre-defined risk-rating matrix for management reporting.
  • Track the resolution of identified control gaps and ensure timely follow-up.
  • Prepare monitoring reports and dashboards for review by the Assistant Vice President and senior management.
  • Maintain and update the issue tracker repository of identified risks and provide regular updates to senior management.
  • Engage in team meetings, knowledge-sharing sessions, and training programs.
  • Ensure adherence to CMA charter and methodology, along with other internal policies, procedures, standards, and all relevant regulatory/statutory requirements.
  • Stay abreast of CBUAE regulations, guidelines, and international best practices in Financial Crime Compliance.

About RAK Bank

At RAKBANK, we are committed to nurturing a culture of innovation, growth, and excellence. As more than just a bank, we are a community that thrives on collaboration, cutting-edge solutions, and the highest standards of governance. We are currently seeking a Compliance Officer who will be integral in ensuring our compliance standards meet and exceed regulatory expectations.

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