Compliance Manager

About Whizmo

Whizmo, a brand under Whizpay Technology LLC licensed by the Central Bank of the UAE, offers an all-encompassing mobile money solution in the UAE. Combining multiple financial services into a single user-friendly application, Whizmo facilitates smooth and integrated daily financial transactions.

Role Overview

The Compliance Manager will play a pivotal role in designing, overseeing, and maintaining the company’s compliance framework to ensure all activities align with regulatory requirements, particularly those set by the Central Bank of the UAE (CBUAE) and AML/CFT regulations. Acting as the organization's Money Laundering Reporting Officer (MLRO), this position involves close liaison with regulators including the CBUAE and the Financial Intelligence Unit (FIU). The role also entails managing the Sanctions Compliance Program (SCP) to comply fully with relevant legal obligations.

Key Responsibilities

• Serve as the subject matter expert on current and evolving legislation impacting the organization and advise senior management and the board accordingly.
• Develop, implement, and regularly update compliance policies, frameworks including the Three Lines of Defense, matrices, and procedures covering all applicable laws including AML/CFT.
• Promote and embed a strong compliance culture across the organization by collaborating with leadership and ensuring employee adherence to regulatory expectations.
• Provide ongoing and ad-hoc compliance training to employees to keep them informed of their responsibilities.
• Design and maintain regulatory reporting programs, coordinating with various departments and external service providers for accurate and timely submission.
• Engage with relevant industry bodies to share knowledge and enhance coordination pertaining to financial crime issues.
• Implement compliance monitoring activities, establish control systems, and manage responses to any violations of legal, regulatory, or internal policies.
• Conduct regular assessments of company operations and reporting compliance status, highlighting risks and non-compliance to senior management and the board’s risk and compliance committee.
• Oversee the Transaction Monitoring System (TMS) and Know Your Customer (KYC) frameworks, reviewing and updating system rules to align with compliance objectives.
• Analyze alerts generated by KYC and TMS, manage customer lists, and prepare required reports in a timely fashion.
• Prepare and submit Suspicious Transaction and Activity Reports (STR/SAR) to internal committees and regulatory authorities, including through the CBUAE’s GoAML portal.
• Continuously monitor and update Customer Risk Ratings (CRR) based on compliance findings.

Education & Certifications

• Bachelor’s degree in Law, Finance, Accounting, Business Administration, Risk Management, or related discipline.
• Professional compliance or risk certifications such as CAMS, ICA Diploma in AML, CRCM, or equivalents are strongly preferred.

Experience Requirements

• 5 to 8 years of experience in compliance, AML/CFT, financial crime, or regulatory compliance within banking, fintech, payment institutions, digital wallets, or related financial services.
• Proven track record of managing compliance programs within regulated environments, ideally under CBUAE or comparable regulatory bodies.
• Experience developing AML/CFT policies, procedures, and monitoring systems.
• Practical experience working with transaction monitoring and KYC systems, sanctions screening, and customer risk assessment.
• Familiarity with preparing regulatory reports including STR/SAR via GoAML and fulfilling reporting obligations.

Technical Knowledge

• In-depth understanding of AML/CFT laws, customer due diligence (CDD), enhanced due diligence (EDD), sanctions, and financial crime prevention.
• Comprehensive knowledge of transaction monitoring, financial crime investigations, and compliance governance.
• Effective application of risk-based compliance frameworks and the Three Lines of Defense model.

Skills & Competencies

• Excellent analytical and investigative capabilities to identify suspicious financial activities and associated risks.
• Strong aptitude for interpreting regulations and translating them into actionable business controls.
• Proficient in report writing and maintaining thorough documentation.
• Exceptional stakeholder communication skills, including interactions with senior management, auditors, regulators, and cross-functional teams.
• Leadership capability to spearhead compliance projects and foster a robust culture of compliance within the organization.

Preferred Background

• Experience within fintech, payment service providers, mobile wallets, or digital banking sectors.
• Prior engagement with UAE regulatory authorities including CBUAE and FIU.
• Track record of mentoring or managing compliance teams.

Core Competencies

• Expertise in AML/CFT compliance, financial crime risk management, sanctions adherence, and customer due diligence processes.
• Comprehensive regulatory knowledge specific to CBUAE and UAE financial regulations.
• Management of transaction monitoring and KYC operations, including alert review and sanctions screening.
• Preparation and submission of regulatory reports such as STR/SAR through designated platforms like GoAML.
• Development and oversight of compliance frameworks, policies, and internal controls, including implementation of the Three Lines of Defense.

Additional Information

The position is permanent and based at Whizmo’s Silicon Oasis headquarters in Dubai. Reporting directly to the CEO, the Compliance Manager is instrumental in upholding the integrity and regulatory compliance of the organization.

About Joining Whizmo

This role offers the chance to be part of an innovative and collaborative workplace committed to impactful financial solutions. Candidates eager to contribute to a forward-thinking environment are encouraged to apply and engage in building transformative financial services.