LawSikho

Deadline Open Deadline

Location Mumbai, India

Salary Compensation details will be finalized during the interview process with the selected candidate.

Details of the Organization

GCC Exchange is a fast-growing money transfer and foreign exchange brand for individuals and businesses having its presence in four continents such as Europe, Africa, Oceania and Asia besides the flagship entity in the UAE.

Details of the Job/Internship

GCC Exchange is hiring a Senior Compliance Manager to join them in Mumbai office.

Role and Responsibilities

Policy Development & Maintenance: Develop, maintain, and revise policies and procedures in accordance with AML/CFT Guidelines, Risk Management Methodology, Anti-Bribery and Anti-Corruption regulations, Data Protection, and Privacy Policies to ensure a streamlined and effective compliance program.
Risk & Compliance Review: Develop policies and conduct enhanced due diligence and regular risk and compliance reviews for regulated international banks and exchange houses, especially regarding import/export arrangements.
Compliance Training Program: Design and implement an effective compliance training program, both online and in-person, for new and existing employees, including workshops for senior management and key awareness programs tailored to job profiles.
AML Workstream Oversight: Manage quality control testing across AML workstreams, ensuring accurate and effective monitoring and reporting procedures are in place.
Audit Program Development: Create and manage an audit program and charter for GCC Exchange group companies to ensure a rigorous quality assurance and testing process.
System & Process Coordination: Liaise with IT and cross-functional teams for system enhancements related to sanction screening and transaction monitoring. Conduct scenario optimization, rules validation, and pre/post-implementation testing to ensure quality alerts for investigation.
Risk Identification & Mitigation: Lead efforts to identify and moderate AML, CTF, and fraud risks associated with the development of new products. Partner with digital and associated product teams to address compliance challenges.
Transaction Monitoring & Alert Management: Design and implement rule frameworks for transaction monitoring, alert management, and risk methodologies. Identify opportunities for improvement across AML and sanctions teams and lead impactful changes.
Compliance Culture Development: Establish and nurture a culture of compliance in business areas related to customer due diligence, record-keeping, and reporting requirements.
Risk Assessment & Mitigation Strategies: Support management in conducting comprehensive risk assessments and developing effective strategies to mitigate risks, particularly in relation to money laundering and fraud.
Regulatory Liaison: Act as a key point of contact for the Board of Directors and regulators regarding company licenses, regular reporting, and other legal, compliance, and audit requirements. Oversee regulatory audit needs and ensure timely resolution of any queries.
Ongoing Transaction Monitoring: Ensure the timely and accurate filing of Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs), while coordinating with banking partners for annual reviews.
Regulatory Audit & Compliance Coordination: Manage and lead regulatory audit requirements for the group, ensuring all audit inquiries are addressed within required timelines, whether for internal, external, or regulatory audits.
New Licensing & Regulatory Support: Liaise with regulators for new licensing applications and ensure compliance with regulatory requirements on behalf of the group.

Eligibility

Education: Bachelors degree in Law, Business Administration, Finance, or a related field .
Experience: At least 8 years of experience in compliance management, with a strong focus on AML, CTF, and risk management.
Technical Skills: Proficiency in compliance management systems, transaction monitoring tools, and regulatory reporting requirements.
Analytical Skills: Strong ability to assess and mitigate compliance risks, with a keen eye for detail and problem-solving capabilities.
Communication Skills: Excellent written and verbal communication skills to effectively liaise with internal teams, senior management, regulatory bodies, and external auditors.
Certifications: Certifications such as CAMS (Certified Anti-Money Laundering Specialist), CFE (Certified Fraud Examiner), or other relevant industry certifications are preferred.