Anti-Money Laundering Officer

Job description / Role

Job Type
Full Time

Job Location
Dubai, UAE

Nationality
Any Nationality

Salary
Not Specified

Gender
Not Specified

Arabic Fluency

Not Specified

Job Function
Accounting & Audit

Company Industry
Audit & Accountancy

Description

We are looking for a meticulous and proactive AML (Anti-Money Laundering) Officer to join our compliance team. The ideal candidate will be responsible for developing and implementing AML policies, procedures, and practices to ensure the organization meets all regulatory requirements. This role involves monitoring financial transactions, identifying suspicious activities, and collaborating with various departments to mitigate risks associated with money laundering and financial crime.

Key responsibilities:

• Policy development: Develop and implement AML policies, procedures, and controls to ensure compliance with local and international regulations.
• Transaction monitoring: Monitor and analyze transactions to identify unusual or suspicious activities, ensuring timely reporting of potential money laundering or terrorist financing activities.
• Customer due diligence (CDD): Conduct thorough due diligence on new and existing clients, including KYC (Know Your Customer) checks, risk assessments, and ongoing monitoring.
• Suspicious activity reporting (SAR): Prepare and file Suspicious Activity Reports (SARs) with relevant regulatory bodies in compliance with legal requirements.
• Regulatory compliance:

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  Stay updated on AML regulations, ensuring that the organization complies with all applicable laws, including FATF guidelines, OFAC, FinCEN, and other relevant bodies.
• Training and awareness: Provide regular training and updates to staff on AML compliance, including best practices and emerging trends in financial crime.
• Internal audits: Conduct regular audits and assessments of the AML program, identifying gaps or weaknesses, and recommending improvements.
• Collaboration: Work closely with legal, compliance, and other relevant departments to address AML-related issues and ensure alignment with overall compliance strategy.
• Reporting: Prepare detailed reports on AML activities, trends, and program effectiveness for senior management and regulatory authorities.
• Investigations: Lead and assist in investigations related to potential money laundering activities, coordinating with law enforcement as necessary.

Requirements

• Education: Bachelors degree in Finance, Law, Business, or a related field.
• Experience: 2-3 years of experience in AML, compliance, or a related role within financial services. Preferable to have experience in the real estate industry.
• Skills: Strong understanding of AML regulations and financial crime prevention. Proficiency in AML software and tools for monitoring and reporting. Excellent analytical and investigative skills and strong communication and report-writing skills.
• Certifications: Optional - e.g., CAMS (Certified Anti-Money Laundering Specialist), CFE (Certified Fraud Examiner).