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UAE Compliance Officer, MLRO



Dubai - United Arab Emirates
Posted on Wednesday, March 22, 2023

Remitly is on a mission to transform the lives of immigrants and their families by providing the most trusted financial products and services on the planet. Since 2011, we have been tirelessly delivering on our promises to immigrants sending their hard earned money home. Today, we are reimagining international payments at scale and building new products to create deeper relationships with our customers and their loved ones across the globe. Join over 2,700 employees across 10 offices who are growing their careers while having a positive impact on people globally.

Remitly is registered as a Money Services Business in the U.S., Canada, EU, United Kingdom, Singapore and Australia. Each of these jurisdictions require, among other items, that Remitly maintain a comprehensive Risk and Compliance Program.

About the Role
An exciting opportunity has just opened to join as a Compliance Officer and Anti-Money Laundering Reporting Officer (MLRO). You will be responsible for overseeing the compliance program for Remitly UAE and ensuring compliance with its regulatory and reputational risk. You will contribute to Remitly's mission by ensuring that Remitly's UAE business maintains full compliance with applicable laws and regulations. You will manage legal and regulatory risks, using your strong analytical skills and keen eye for detail to adapt Remitly's services and controls to new business opportunities and changing regulatory requirements. You will ensure Remitly manages the Compliance risks that it faces.

You Will:

  • Document the procedures of the compliance function and maintain and update (as necessary) compliance manuals and related documentation;
  • Act as the point of contact for the DFSA and other competent UAE authorities;
  • Provide regular and timely compliance reporting and management information to the Board, Management and Group;
  • Establish and maintain compliance monitoring and reporting program to ensure that any compliance breaches are readily identified, reported and acted on;
  • Defining the necessary level of knowledge on existing and emerging regulatory compliance requirements;
  • Maintain an appropriate regulatory training program and adequate awareness arrangements and ensure that employees receive appropriate training on compliance with their regulatory obligations;
  • Record keeping, including in relation to compliance breaches, conflicts identification and management, authorized individuals and regulatory returns;
  • Liaise with the DFSA and other authorities (as required) in relation to regulatory compliance issues.
  • Oversee day-to-day operations with respect to the compliance with its AML policies, procedures, systems and controls;
  • Act as the point of contact to receive notifications from employees and take appropriate action under the Anti-Money Laundering, Counter—Terrorist Financing and Sanctions Module (AML) of the DFSA Rulebook;
  • Make suspicious activity reports in accordance with federal UAE AML legislation;
  • Collaborate and liaise with regulatory authorities and other external parties as well as with internal stakeholders as relevant;
  • Identify potential areas of compliance vulnerability, suggesting action plans for resolution and providing guidance to mitigate risk;
  • Review and interrogating technical solutions to support existing and new initiatives;
  • Monitor changes in applicable laws and regulations and providing guidance to the business in relation to implementation;
  • Undertake any ad hoc duties as and when required.

You Have:

  • 8+ years of working experience within the compliance & AML Sector, ideally within the financial services industry
  • Experience with DFSA and excellent knowledge of DFSA regulatory obligations
  • Some licensing and expansion experience
  • Strong alignment to our mission and values
  • Proven analytical and data-driven approach
  • Proven problem solving and analytical skills with a data-driven mindset
  • Ability to partner effectively and able to communicate with a variety of both internal and external stakeholders
  • Extreme attention to detail, operates with a high degree of discretion
  • Strong written and verbal communication skills

We are committed to nondiscrimination across our global organization and in all of our business operations. Employment is determined based upon personal capabilities and qualifications without discrimination on the basis of race, creed, color, religion, sex, gender identification and expression, marital status, military status or status as an honorably discharge/veteran, pregnancy (including a woman's potential to get pregnant, pregnancy-related conditions, and childbearing), sexual orientation, age (40 and over), national origin, ancestry, citizenship or immigration status, physical, mental, or sensory disability (including the use of a trained dog guide or service animal), HIV/AIDS or hepatitis C status, genetic information, status as an actual or perceived victim of domestic violence, sexual assault, or stalking, or any other protected class as established by law.

Remitly is an E-Verify Employer