Assist the Head of Compliance, and support the local Compliance function as a member of the Dubai Compliance team. PURPOSE OF THE ROLE : a.
To provide Compliance and Anti Financial Crime (collectively, compliance ) support to the various Business Lines of SG Dubai and other operational areas as necessary on a day-
to-day basis and / or as directed by the Head of Compliance & Financial Crime, Middle East. b. To assist in the identification, assessment, monitoring, reporting and risk mitigation of compliance risks, including compliance assurance with respect to local regulatory and SG Group requirements, concerning regulated activities undertaken both in, and from, the DIFC.
c. To foster a positive compliance culture and promote high standards of conduct and culture. d. To have primary day-to-
day responsibility for certain areas and tasks identified by the Regional Head of Compliance as well as have secondary responsibility for other areas and tasks on an ad hoc, interim or permanent basis in support of, or as coverage for, other Compliance colleagues as well as for any new or ad hoc tasks, projects, initiatives and themes as may arise from time to time.
e. To provide additional support and expertise for the local Compliance function as SG’s Middle East growth plans continue to progress, and its Business Lines continue to broaden, deepen and become more complex (and therefore SG Dubai’s inherent risk profile increases), leading to an expected increase in the frequency and intensity of local regulatory oversight and supervision.
Broad classification of work tasks : Aside from general Compliance team support, core or primary areas of responsibility will include :
Provision of cross-border compliance advisory services to SG Middle East employees undertaking cross border business in the Middle East (currently 11 countries / jurisdictions);
Advisory support on the Middle East Cross-Border Guidelines as necessary or appropriate to Compliance Officers in other offices of SG around the world where their employees propose to visit one or more of the 11 jurisdictions concerned;
Tracking of relevant regulatory changes in the above jurisdictions on an ongoing basis and working with internal and external legal counsel in updating Cross-
Border Guidelines in relation to the above jurisdictions for those Business Lines within the GBIS (Global Banking & Investor Services) division of the SG Group;
Assisting in educating staff with respect to any changes in Cross-Border Policies in a pragmatic and user-friendly manner, and monitoring (as the 2nd Line of Defence ) Business Lines’ compliance with the Cross-
Border Guidelines; and
Assist in the design, provision and implementation of more tailored local AML / CFT face-to-face training that accommodates employees’ differing levels of experience and seniority and the different Business Lines in which they work.
Secondary areas where the role holder will work alongside other team members will involve :
General upgrading in terms of the range, quality and timeliness of induction and face-to-face training materials used by SG Dubai, and ongoing maintenance thereafter;
anticipated increase in the range and volume of Internal Audit reviews and continuous monitoring of SG Dubai by Internal Audit as SG Dubai’s inherent risk profile increases as its activities expand;
Participation in supporting business initiatives that may involve the preparation of applications to regulators for licences, licence changes, approved individuals and notifications (both routine and ad hoc);
Updating and maintaining of DIFC / Dubai / UAE specific AML / CFT eLearning modules tailored for SG Dubai (and SG Saudi) through a third-
party vendor (Thomson Reuters), due for renewal and update in 2018-2019; and
In conjunction with HR and all Business Lines and support functions, implement a more robust, comprehensive and documented approach to employee competency assessments, both forward looking and retrospectively.
Financial To support the Business Lines in the achievement of their financial objectives within the available resources of the Compliance function.
Customer Act as a high quality internal service provider for all Business Lines represented locally. Be a point of reference for all other SG Business Lines and central teams within SG (such as Risk, GBIS FCU, SG Global FCU, Business Line COOs, client onboarding teams, central senior management, etc) regarding compliance issues including issues with local clients.
Process Become familiar with the SG GBIS / Corporate & Investment Banking client on-boarding process in relation to SG Group and local DFSA regulatory requirements, from start to end, whilst adopting a pragmatic and flexible approach in addressing urgent or prioritised on-
boarding requests by the Business Lines. Support ongoing continuous improvement by maintaining, enhancing, and adapting locally-
owned policies, procedures, systems and controls to new and evolving rules and regulations where they fall within, or where there is a nexus with, the local Compliance perimeter.
Undertake reviews of local regulatory consultation papers and final new rules in a systematic and documented way to demonstrate continued compliance by SG Dubai with those evolving regulatory requirements, including proposing of action plans to ensure ongoing compliance.
Undertake reviews of draft and final internal SG Group Instructions, Policies, Procedures, Guidelines, Best Practices, etc, in a systematic and documented way to demonstrate continued compliance by SG Dubai with any new or evolving regulatory or evolutionary requirements applied across the SG Group globally.
Effective in helping the business achieve its objectives in a client-focussed way whilst being sensitive to actual and potential risks, and fully appreciative of compliance requirements and their underlying rationale.
Anticipative and forward thinking in considering the needs of the Business Lines and the expectations of regulators and Internal Audit.
Able to work effectively, constructively and collaboratively in partnership with other control functions (e.g. Internal Audit, SAFE) to optimise cooperation, mutual understanding and respect.
Supportive of breaking (or working across) silos to facilitate Building Team Spirit in SG Dubai and the SG Group.
Open to new challenges, initiatives, and ways of doing things.
Supportive of the development of the Compliance team through sharing of knowledge and experience and building trust.
Ability to be firm but fair whilst exercising tact and diplomacy.
Strong knowledge of the international regulatory environment and regulatory principles, and the practical application of rules and regulations to different circumstances and businesses.
Strong technical knowledge, and / or ability to quickly grasp technical rules and requirements.
Good knowledge of DIFC and DFSA requirements an advantage, but not essential if willing and able to learn quickly.
Excellent written English and fluent spoken English essential.
Good knowledge and experience of compliance in Corporate & Investment Banking matters, including Global Markets, Global Finance, M&A, DCM, ECM, etc.
Familiarity with Trade Finance an advantage, but not essential.
Familiarity with Islamic Finance at a high level is also useful, but not essential.
5-8 years solid Compliance and AML / CFT experience (including Sanctions at a high level) in one or more global financial institutions.
Some experience of working with, or within, leading regulatory bodies either globally or locally an advantage, but not essential.
Broad-based and rounded knowledge and experience preferable to narrowly focussed or specialist compliance experience.
Familiar with the regional regulatory and institutional landscape desirable.
Adept at reading, understanding and interpreting rules and guidance, although a legal qualification is not a pre-requisite.