Job title: Money Laundering Specialist
Company: Innovations Group
Job description: Responsibilities:Support in providing effective oversight of the process and controls deployed to monitor, and mitigate compliance related risks under the AML/CFT Framework ProgramEnsure a robust level of the quality, strength and effectiveness of the AML/CFT ProgramImplement a risk-based approach based on the national risk evaluation outputs and reflect the same on all internal policies and proceduresImplement regular awareness-raising and training programs for relevant staff members of the department in relation to any matters concerned with the application of anti-money laundering and counter terrorism finance requirements, and understand the risks of abuse of money laundering and terrorism financing by corporate personsSupport the creation of compliance related awareness so that the employees are educated and well-positioned to meet their compliance obligations, which includes the identification, escalation and reporting of suspicious transactions and activitiesShall be able to prioritize tasks and be able to deliver before deadlinesSupport Free Zone Operations by conducting KYC and CDD in line with AML Policy and ProceduresOversight over process of identifying potential PEP relationships of all licenseesImplement the Cabinet Resolution no. (109) of 2023 Regulating Beneficial Owner Procedures, and update the beneficial owner data with the department’s registration systemOversight of the overall responsibility of the Operational Compliance, AML and inspection unit related to:Risk assessment in line with AML policy for all new company applications, amendments and renewals and provide report to FZ operations in a timely mannerDetailed background/sanction screening process (WorldCheck, Internet search) for all new company applications, amendments and renewals in a timely mannerInspection to ensure that the customers/licensees follow the Cabinet Resolution number (109) of 2023 Regulating the Beneficial Owner ProceduresIdentification of the beneficial owner by validating the documents received for all new company applications, amendments, adhoc requests and renewals and provide report and finding to FZ operationsNotification of suspicions to the Financial Intelligence Unit of the Central Bank of the UAE (referred to as “FIU”)Required SkillsBachelor’s Degree or HigherProfessional Certification (Highly recommended) – (CAMS), ICA, or other relevant certificationsMinimum 5 years of business experience (preferably in UAE) in a compliance functionWell-equipped with the understanding and application of the relevant laws, regulations and guidelines related to anti-money laundering and combating the financing of terrorismAbility to generate ideas, think creatively, develop innovative solutions and build effective business relationships quicklyTeam player, able to meet stringent deadlines and manage challenging workload.Excellent communication skillsFluent in both Arabic and English, with strong written and verbal skills.Focused on driving tasks to completion with pace, whilst retaining a high level of attention to details and accuracyDiscrete and has sense for integrity and handles highly sensitive information with absolute confidentiality
Expected salary: 12000 per month
Location: Dubai
Job date: Wed, 07 May 2025 23:35:08 GMT
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Money Laundering Specialist
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