About the Role
In this pivotal role, you will be responsible for managing the risk, control, and fraud policies of the company, ensuring compliance with regulatory requirements. You will lead the Risk activity, establishing and supervising the Risk & Compliance functions while implementing the approved Risk Management Policy and other related procedures. Your leadership will help shape the risk strategy and appetite for the company while liaising with the Board and the Board Risk and Compliance Committee (BRCC).
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Key Responsibilities
- Manage the Risk, Control, and Fraud Policy for the company, ensuring effective regulatory communication and compliance.
- Head the Risk and Compliance functions, including:
- Establishing and supervising risk management policies and procedures.
- Overseeing the development of Enterprise Risk Management policies and showcasing risk management initiatives.
- Implementing sound management principles across the company.
- Elaborating on the risk strategy and risk appetite.
- Reviewing and assessing material risks associated with existing and new products/activities.
- Liaising with the Board and BRCC for the approval of risk-related policies, procedures, and frameworks.
- Reviewing overall risk parameters, limits, and tolerances for the approval of the BRCC.
- Endorsing risk management initiatives and reports for BRCC's approval.
- Monitoring adherence to risk appetite limits and reviewing corrective actions for breaches.
- Providing strategic guidance to the CEO and Board regarding governance, systems, controls, compliance risks, and remediation priorities.
- Conducting regular monitoring, thematic reviews, and complaint data analysis to ensure adherence to consumer protection regulations and company standards.
- Identifying and assessing money laundering risks and overseeing compliance with anti-money laundering regulations.
- Ensuring all internal controls are well-developed and implemented.
- Managing relationships with regulators and supervisors and reporting relevant information to the Central Bank of UAE and the Board.
Qualifications, Experience and Skills
- Degree in Risks, Audit, Law, or a related field.
- Minimum of 12 years of experience within Risks and Compliance teams.
- Proven understanding and experience in the fintech or banking industry.
- Experience in dealings with regulatory bodies, particularly the Central Bank.
- Strong knowledge of UAE Regulations, focusing on Customer Protection, SVF, and RPSCS.
- Familiarity with international financial regulations and best practices, including GDPR.
- Understanding of payments, e-money, wallet products/services, banking functions, and merchant processing.
- Ability to analyze business priorities and communicate relevant information to the Board regarding regulatory updates.
- Skills in promoting company culture, values, and behaviors, ensuring a strong understanding of Risks and Compliance.
- Capability to lead and influence change, reducing risks and enhancing compliance organization-wide.
- Excellent presentation and communication skills, both written and verbal.
- High level of personal drive, ethical attitude, and initiative.
