Local Compliance Officer

Allianz Trade in Middle East

About Us

Allianz Group is a global leader in insurance and asset management, renowned for its trustworthiness and reliability. We are committed to fostering an environment where our employees can pursue their aspirations and navigate challenges with confidence. By working together, we aim to empower each individual to grow and contribute positively to the future of our customers and the communities we serve.

We are recruiting for a Local Compliance Officer to join our team in Dubai. This role reports directly to CEO GCC with matrix reporting to the Regional Compliance Officer MMEA Region

The Role

This role manages and monitors the local compliance activities and local compliance function. Provides advice and assistance to the business on compliance issues/topics. Ensures OE remains compliant with all applicable regulatory obligations and best practices. Fulfils a coordinating role across the OE to ensure that compliance responsibilities are duly understood and carried out. Fulfil the tasks of the Local compliance function under the companys Solvency II Compliance Policy

Responsibilities

• Monitor and oversee Solvency II compliance
• Manage relationship with and reporting to the Regional Management Team (which acts also as Italian Board)
• Lead locally the global topic responsibilities: conflict of interest, communication & training
• Liaise with and support the Regional & Italian management to ensure promotion of a culture of integrity and compliance throughout the business
• Provide input for risk analysis
• Interface with Regional and Local functions, peers, trade associations and compliance forums
• Manage relationship with Group and Regional Compliance
• Overall Reporting: compliance related reports
• Tasks expected from the compliance functions relating to the Solvency 2
• Implement relevant local compliance policies and procedures to mitigate risk of DFSA rule breaches
• Foster good relationships with the DFSA and any other relevant regulator and/or stakeholder in the MENA region
• Provide independently of local senior management, a reporting mechanism for all local employees of the Firm
• Responsibility for drafting an Annual Compliance Plan that should address the key objectives to mitigating compliance risk
• Responsibility for compliance matters in relation to the Firm s services per applicable DFSA GEN rules
• Responsibility for the implementation of the Firm s anti money laundering policies, procedures, systems and controls and day-to-day oversight of its compliance with the rules in AML and any relevant anti money laundering legislation applicable in the DIFC
• Responsibility for the following matters per DFSA AML rule:
• The day-to-day operations for compliance by the Firm with its AML policies,procedures, systems and controls
• Acting as the point of contact to receive notifications from the Firm s employees under DFSA AML rule 13.2.2
• Taking appropriate action under DFSA AML rule 13.3.1 following the receipt of a notification from an employee of the Firm
• Making, in accordance with Federal Law No. 4 of 2002, suspicious activity reports Acting as the point of contact within the Firm for competent UAE authorities and the DFSA regarding money laundering issues
• Responding promptly to any request for information made by competent UAE authorities for the DFSA
• Receiving and acting upon any relevant findings, recommendations, guidance, directives, resolutions, sanctions, notices, or other conclusions described in DFSA AML Chapter 10
• Establishing and maintaining an appropriate money laundering training programme and adequate awareness arrangements under DFSA AML Chapter
  
  

Responsibilities

Market knowledge

• Know own market basics and regulatory environment
• Work experience in DIFC based organisation
  
  

Business expertise

• Strong arbitration skills
  
  

Ability to implement Group standard at local level

• Strong skills in follow-up of multiple related projects
• Ability to build a professional network
  
  

Internal leadership behaviour

• Ability to implement Legal and Compliance Solvency II Policies and guidelines
• Conflict management: arbitrage, independence
  
  

Minimum Group Compliance Know-how

• Ability to anticipate compliance risk
• Compliance advisory, risk identification and assessment, monitoring, and early warning
  
  

Interpersonal skills

• Business partner having acquired business knowledge
• Master degree or comparable diploma
• Clear sense of the priorities and key deliverable
• Capacity to work in a team across the Regio
• Basic understanding of commonly used Generative AI / GenAI / Generative Artificial Intelligence platforms, as well as an awareness of best practices and the potential risks associated with AI in the workplace to apply.
• Fluent in English
  
  

Allianz Group is one of the most trusted insurance and asset management companies in the world. Caring for our employees, their ambitions, dreams and challenges, is what makes us a unique employer. Together we can build an environment where everyone feels empowered and has the confidence to explore, to grow and to shape a better future for our customers and the world around us.

We at Allianz believe in an inclusive workforce and are proud to be an equal opportunity employer. We encourage you to bring your whole self to work, embracing your unique identity and experiences.

Join us. Lets care for tomorrow.

#GCC

#MMEA

#Dubai

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