Recruitment Advertisement (Head of Compliance Department)

Head of Compliance Department

About the Bank:

China construction Bank (DIFC Branch) (CCB DIFC) is a branch of China Construction Bank Corporation. CCB DIFC Branch, holding a Category 1 license, carries out banking business in or from the DIFC. CCB DIFC intend to continue increase its relationships with the Chinese Clients and actively engage in expanding its business offerings in the MENA region to local government, sovereign entities and corporates participating in Sino-UAE economic and trade activities also.

Duties:

1.In charge of Compliance Department and oversee the management Compliance operations to ensure daily jobs are properly completed and delivered and all systems are operating as designed;

2.Take full accountability and responsibility for the entire department management, especially in compliance risk control;

3.Ensure Department comply with the relevant rules, regulations and policies issued by DFSA, DIFC, central bank of UAE, CCB (DIFC Branch)/CCB Group; 

4.Review and formulate policies and procedures for Compliance Department to improve controls, and enhance the work processes in the department. Own the regulatory compliance documentation, policies and procedures as they relate to the branch business;

5.Responsible for ensuring compliance with regulatory requirements and maintaining a robust framework to monitor business activities. This includes managing the AML/CFT program, preparing and implementing policies and procedures, reviewing KYC documentation, monitoring TBML risk, and submitting reports to relevant stakeholders, aiming to avoid any money laundering and terrorist financing incidents and promptly report any suspicious transactions to regulatory authorities;

6.Act as Money Laundering Reporting officer, responsible for receiving notifications of suspicious activity from CCB DIFC employees or monitoring systems and reporting STRs to the FIU or DFSA as required by law and regulation when necessary;

7.Act as Data Protection Officer with responsibility for maintaining the Data Protection Policy; involves monitoring compliance and advising businesses on data protection initiatives, including adhering to relevant policies and procedures, assigning responsibilities, raising awareness and training employees, advising on data protection impact assessments and breaches, cooperating with authorities, reviewing and updating data protection policies and registry information, and reporting any breaches to regulators;

8.Responsible for reviewing internal and external legal documents and opinions, acting as the head office's legal work contact, and providing training to employees on relevant law and local regulations;

9.Act as the main contact to liaise with the DFSA and other stakeholders; manage and coordinate regulatory reporting for the branch business, responding to information requests and proactively communicating product changes and other important events to relevant external parties;

10.Lead the preparation of internal compliance reports to management and Head office;

11.Provide regular compliance training based on regulatory trends to establish and maintain a strong AML/CFT compliance culture within the Bank. This involves developing AML/CFT training, working with senior management and stakeholders, providing appropriate training to every employee, and managing and coaching staff in the department; deliver refresher training annually and ensure the employee's responsibility to combat ML/FT is well-aware;

12.Act as the member of various committees, including Executive Committee, Risk Management & Compliance Committee; Credit Committee; Transaction Sub-Committee; Information Security & Work Safety Management Committee;

13.Continuously improve systems and processes to monitor our regulatory risk, compliance with regulatory requirements and internal policies;

14.Scrutinise and test our compliance programs and overseeing resolution of any issues;

15.Work closely with 3rd line auditors to improve our compliance program and controls;

16.Oversee the due diligence of new partners, new customers and new products;

17.Comply with the letter and spirit of the relevant rules, regulations and policies issued by DFSA, DIFC, CCB (DIFC Branch) / CCB Group;

18.Perform any other duties that may be assigned by Senior Management from time to time.

Requirements:

1.An in-depth understanding of UAE AML/CFT legislation and regulations;

2.15+ years of experience in a regulated financial institution in a compliance or compliance-related role, with strong preference for someone with a background in wholesale bank;

3.JD or LLM with exceptional academic credentials;

4.Experience using technology to solve compliance issues (transaction monitoring, sanction screening, etc);

5.Attention to detail while still seeing the bigger picture;

6.The ability to help create and foster an effective compliance culture;

7.The willingness to solve problems and build systems, sometimes from scratch;

8.Good communication skills and the ability to express opinions and concerns clearly;

9.ACAMS, ICA or a similar qualification;

10.Willingness to relocate, live and work in the UAE;

11.Proficiency in Mandarin Chinese is preferred. 

Work Location

DIFC, Dubai

Apply the Job

The job opening will be valid until 18 March, 2023. If you are interested in this job and have full confidence that you are suitable for this Job, please forward your CV and Salary Expectation (Mandatory) to our email address:

recruitment@ae.ccb.com,

Your CV will be handled confidentially and cautiously.

Please note only shortlisted candidate will receive the call from us.