Compliance Officer

At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank – we are a community that thrives on teamwork, cutting-edge solutions, and the highest standards of governance. Now, we’re looking for a Projects Manager who  will be responsible for delivering all projects activities within agreed constraints of time, budget, and quality. This includes acquiring resources and coordinating the efforts of team members and third-party contractors or consultants to deliver projects according to plan.

To support the Compliance Monitoring function by conducting independent reviews covering regulatory, financial crime compliance (FCC), and conduct risks in accordance with the approved Compliance Monitoring Plan (CMP), and to provide assurance on the efficiency and effectiveness of internal controls and compliance frameworks across the organization.

• Execute the approved compliance monitoring plan to assess the effectiveness of internal controls across business unit’s basis the thematic reviews conducted
• Document monitoring findings and ensure timely escalation of issues to relevant stakeholders.
• Support the development and implementation of corrective action plans to address identified gaps.
• Maintain accurate and up-to-date records of monitoring activities, including risk registers and issue logs.
• Prepare and present compliance monitoring reports and insights to be presented to business as well to management.
• Contribute to the refinement of compliance policies, procedures, and training based on monitoring outcomes
• Assist in identifying new risk typologies or patterns through ongoing reviews and data analysis.
• Ensure full adherence to 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 bodies
• Support the bank’s readiness for regulatory inspections and audits by maintaining accurate and up-to-date compliance documentation.
• Conduct desktop and thematic reviews as per the monitoring schedule.
• Collate and risk-rate monitoring results using a pre-defined matrix for management reporting.
• Track and follow up on the resolution of identified control gaps.
• Prepare monitoring reports and dashboards for review by the AVP and senior management
• Maintain and update the issue tracker repository of identified risks and provide regular updates to senior management.
• Participate in team meetings, knowledge-sharing sessions, and training programs
• Ensure adherence to CMA charter and methodology, other internal policies, procedures, standards, and all relevant regulatory/statutory requirements.
• Stay updated on CBUAE regulations, guidelines, and international best practices in Financial Crime Compliance.

Minimum Qualification:

• Bachelor’s degree in law, Finance, Business Administration, or a related field (mandatory).
• Professional certifications such as CAMS, ICA, CFE, or equivalent (preferred).

Minimum Experience:

• 3 to 5 years of relevant experience in compliance, audit, or risk management within the banking or financial services sector.
• Proven experience in conducting compliance monitoring, control testing, or internal audits.
• Strong understanding of regulatory frameworks, particularly CBUAE, FATF, and international financial crime compliance standards.
• Experience in preparing compliance reports, risk assessments, and issue tracking.

Skills:

• Analytical and Reasoning skills
• Understanding of AML/CFT risks
• Strong understanding of the Banking Operations, products/services
• Effective communication skills (verbal and written)
• Ability to work independently and on a team
• Ability to work under pressure and accomplish tasks assigned within tight deadline
• Strong ability to understand and navigate a complex technological and operational environment