Manager Compliance & AML - Subsidiaries

Role Objective

This incumbent will be responsible for assisting in managing the company’s subsidiaries in Qatar. The individual will assist the Head of Compliance in dealing with compliance and AML related matters. Services provided by the incumbent for the company’s subsidiaries will be governed by the Service Level Agreement (SLA) entered into by the subsidiary with the company. These compliance related activities include actively providing AML/CFT related services to prevent the organization from being exposed to the risk of legal/ regulatory sanctions and the associated financial / reputation loss that the subsidiary may incur/ suffer as a result of failure to comply with the applicable laws, regulations, codes of conduct and standards of good practice relevant to the subsidiary’s activities, including but not limited to measures for the prevention/ detection of money laundering and terrorist financing.
The individual will assist in the organizing, planning, directing and monitoring of the implementation of the approved compliance annual plans as well as the associated reviews and consulting services. The incumbent will also ensure that officers and employees of other subsidiaries of the company in Qatar, comply with the requirements of the AML/CFT Law and the regulations, policies, procedures, systems and controls. In the context of the applicability in another jurisdiction, it may be applied to the extent that local law of that jurisdiction’s applicable laws and regulations permit.
The individual will also perform oversight over the compliance and AML functions of the Company’s Brokerage and will be required to carry out similar tasks with regards to the compliance and AML/CFT of the company.

Detailed Roles and Responsibilities

FINANCIAL

• Ensure the proactive identification and assessment of the compliance risks faced by the subsidiary (and other Company’s Subsidiaries to the extent allowed by their regulators), and take steps to mitigate all risks of regulatory sanctions, minimizing the threat of financial sanctions and loss of reputation.

CUSTOMER

• Build strong relationships with the following, responding to queries on a timely basis and resolving all issue satisfactorily;
i. QFC (QFCA and QFCRA)
ii. Officials from other Qatari Government Bodies
iii. QFMA
iv. QE
v. QCSD
vi. Other company subsidiaries regulators
• Draft and update all such compliance and AML policies and procedures required by the applicable laws and provide the subsidiary with regular reports and drafts of the updated policies and procedures.
• Maintain the subsidiary’s compliance and AML documents and files in a proper form as required by the applicable laws.
• Prepare and file the required compliance and AML reports with the QFCRA and other regulators.
• Provide the subsidiary with a schedule of due dates of all compliance and AML reports that are needed to be filed with the QFCRA and other regulators and proof that such report has been duly filed.
• Conduct periodic compliance monitoring program and promptly provide the subsidiary with the results of such monitoring.
• Prepare, conduct and respond to all audits, visits, and inspections performed by the QFCRA and other regulators, and inform the subsidiary of the findings and recommendations and follow up on implementations.
• Perform all remedial actions in response to any findings and recommendations of the QFCRA or other regulators in relation to the compliance and AML functions and monitor the implementation of other findings.

INTERNAL

• Perform all remedial actions in response to any findings from the QFCRA and other regulators.
• Liaise with the QFCRA and other regulators regarding all compliance and AML related matters.
• Monitor the implementation of any remedial actions to any findings on other Company Subsidiaries to the extent allowed by their regulators.

LEARNING AND DEVELOPMENT

• Build, lead and develop an effective team through communication, performance management, development plans, timely feedback and reward recognition practices.
• Arrange or perform regular compliance / AML training for the staff of the subsidiary