Head of Compliance

  • Competitive
  • Dubai, United Arab Emirates
  • Permanent, Full time
  • Al Futtaim Group
  • 24 Feb 18 2018-02-24

Head of Compliance

No two days are the same at Al-Futtaim, no matter what role you have. Our work is driven by the desire to make a difference and to have a meaningful impact with the goal of enriching everyday lives . Take our engaging and supportive work environment and couple it with a company culture that recognises and rewards quality performance, and what do you get? The chance to push the limits every single day.

As a humble family business that started on the banks of the Dubai Creek in the 1930s, Al-Futtaim has expanded to a presence in 31 countries, a portfolio of over 200 companies, and 42,000 employees. You'll find us in industries ranging from automotive and retail, to finance and real estate, and connecting people with international names like Lexus, Ikea, Robinsons, and Adidas. Our team is proudly multicultural and multinational because that kind of diverse representation gives us the global mindset to grow and impact the people, markets, and trends around us.

Come join us to live well, work better, and be the best.

Job Title: Head of Compliance (part-time 20 hours a week)

Location: Dubai, UAE

Division and Company: Automotive - Al Futtaim Finance

Regions: UAE & overseas (currently Egypt, Qatar, Oman, Saudi Arabia, Sri Lanka, East Africa (Kenya, Uganda, Tanzania)

Reporting Manager: Managing Director / Board Committee

Al-Futtaim Finance provides finance and insurance solutions to Al-Futtaim's automotive companies to assist customers with the purchase of vehicles and construction equipment. As a financial services company, it is regulated by the UAE Central Bank with a consumer finance license allowing the provision of automotive and personal loans.

Al-Futtaim is seeking a Head of Compliance, which is a part-time position, responsible for overseeing and managing compliance within the organization, ensuring that the company and its employees are complying with regulatory requirements and internal policies and procedures. As the compliance leader and subject matter expert, the Head of Compliance is responsible for the Management of Regulatory Compliance of UAE Central Bank regulations / Anti-money Laundering & adherence to the Central Bank's policies, procedures, rules & regulations, also act as a trusted advisor to senior line management on all compliance matters; to ensure a keen understanding of the business so as to implement strategies & practices that support robust business growth.

The Head of Compliance is responsible for establishing standards and implementing procedures to ensure that the compliance programs throughout the organization are effective and efficient in identifying, preventing, detecting and correcting noncompliance with applicable rules and regulations.

Key Duties & Responsibilities:

  • Ensure Business Units/Functions meet the Firm's and the relevant Regulators' expectations in the responsibility of the management of regulatory relationship;
  • Comply with UAE Central Bank & all UAE local & Federal Government Authorities' regulatory & compliance requirements. Assist with developing an understanding of regulatory compliance & support all departments in compliance & Central Bank Regulations.
  • Manages and develops the relationship with the Central Bank
  • Maintain current knowledge of laws and regulations, keeping abreast of recent changes
  • Anticipate, assess and communicate key regulatory risk trends in-country, for management consideration, and drive the development and implementation of appropriate mitigation control measures
  • Assists in overseeing relevant administration and licensing as required by the local regulatory requirements.
  • Provides timely regulatory advice and recommendations on key issues and proactively monitors regulatory developments.
  • Provides guidance on proper application and interpretation of CB laws, regulations and policies applicable to the country.
  • Consult/support team members regarding compliance by designing, developing & improving processes
  • Report any compliance breaches to MD
  • Maintain Quarterly Regulatory Compliance Report
  • Work collaboratively with Management, CB Auditors, Internal and External auditors, Group Legal, Government Departments to assist with Solutions to maintain necessary consumer license.
  • Developing policies and programs that encourage managers and employees to report suspected fraud and other improprieties without fear of retaliation.
  • Prepare regular and accurate reports that demonstrate understanding, provide clear analysis and are escalated to the relevant business and risk managers.
  • Periodically revising the program in light of changes in the needs of the organization, and in the law and policies and procedures of Regulators.
  • Developing, coordinating, and participating in a multifaceted educational and training program that focuses on the elements of the compliance program, and seeks to ensure that all appropriate employees and management are knowledgeable of, and comply with, pertinent laws and regulations.
  • Developing materials at an institutional level for distribution to all employees to enhance awareness of compliance activities
  • Coordinating internal compliance review and monitoring activities, including periodic reviews of departments
  • Responding to internal and external investigations and queries as the principal point of contact
  • Independently investigating and acting on matters related to compliance, including the flexibility to design and coordinate internal investigations (e.g., responding to reports of problems, 'hot-line' calls, or suspected violations) and any resulting corrective actions


Minimum Qualifications & Knowledge:

Degree-holder preferred; Professional Certificate in Compliance preferred (examples include ICA certificate in Compliance, or ACAMS certificate)

Minimum Experience:

Eight years of experience, Five year in financial services, automotive industry, compliance

Job-Specific Skills:

Regulatory Compliance Management, Strategic Management, Change Management, good communication skills & problem solving skills

Behavioural Competencies:

Achievement Orientated, strategic thinking skills, solution orientated & team working skills.

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