Compliance & MLRO – Bahrain

Amber Group is a leader in digital asset trading, products and infrastructure. We work with companies ranging from token issuers, banks and fintech firms, to sports teams, game developers, brands and creators. Operating at the center of markets, we act as liquidity providers, miners and validators on all major exchanges, applications, and networks. Across all products and categories, we have turned over >$1T in volumes since inception. Our mission is to make our digital future a reality and shape it to be fair, inclusive, and kind.Our people are both dreamers and doers – a self-driven, entrepreneurial community who are believers in the power of decentralized networks. We collaborate across teams and regions, promoting a culture that is open, transparent, respectful and inclusive.Our businesses1. Institutional financial services, helping 1,000+ asset managers, hedge funds, corporates, and family offices invest in digital assets via API and our OTC desk.2. Consumer financial services with millions of customers investing in digital assets via our award-winning mobile app and web platforms.3. The emerging digital creator economy including gaming tokens, digital art, sports collectibles, and social tokens.At Amber Group, you will have the opportunity to work with innovative and entrepreneurial people, solve meaningful problems, accept challenges, and become experts in frontier fields. We strive to take care of our people, providing competitive incentives, benefits and rewards. Role OverviewThe Compliance Officer and Money Laundering Reporting Officer (COMLRO) is responsible for managing the regulatory and AML/CTF risks of the company.  The COMLRO serves as the main point of contact of the firm with all its regulators, law enforcement, and other competent bodies and authorities and advises the staff, GM, and the Board on relevant regulatory and internal compliance policy matters.  The Board has delegated responsibility for management of compliance and anti-money laundering functions to the COMLRO and they have the authority to carry out these responsibilities, in accordance with the direction and policies established by the Board. 

Role and Responsibilities (Compliance Officer):

    • Develop and maintain a positive and constructive relationship with the Regulators (Financial Intelligence Directorate and CBB)
    • Ensure the effective implementation of the firm’s compliance policies and procedures
    • Perform monitoring and surveillance reviews in line with the compliance monitoring plan
    • Provide support and guidance to staff on regulatory, policy and procedural issues and application
    • Provide the senior management with compliance management information
    • Assist with client enquiries and requests for information
    • Identify, log and resolve compliance issues, client complaints and policy and regulatory breaches
    • Assist with ad hoc projects, monitoring tasks and regulatory change
    • Review and update policies and procedures in line with regulatory changes
    • Provide compliance training to staff
    • Ensure timely completion and filing of regulatory reports to the regulator

Role and Responsibilities (MLRO):

    • Ensure effective implementation of the firm’s AML/CTF policies and procedures and compliance with the regulations of the Central Bank of the UAE, of the Central Bank of Bahrain  and international best practices
    • Promote a culture of compliance with the relevant Anti Money Laundering (AML) and Counter Terrorism Financing (CTF) policies among all team members and business processes
    • Staying up to date with AML/CTF and regulatory developments both locally and internationally
    • Review AML/CTF policies and procedures to make sure they are current with the latest regulations
    • Serve as a point of contact for the CBB, UAE Police Forces, the Central Bank of the UAE and any other competent authorities of the UAE for AML/CTF issues
    • Promptly respond to any request for information made by the CBB or any other competent authorities of the UAE
    • Maintain regular dialogue with the SEO and the Board to ensure their full awareness of all salient matters and to advise on regulatory implications of future business strategies
    • Support the Know Your Customer (KYC) and EDD review process
    • Identify, analyze and report suspicious transactions to the FIU of the Central Bank of the UAE
    • Prepare and provide AML/CTF training to employees
    • Ensure timely completion and submission of the Annual AML Return  to the CBB and any other relevant authorities
    • Act as coordinator between Operations and Operational Risk Management on the development and production of Key Risk Indicators (KRIs)
    • Assist in the selection, creation, testing and implementation of new reports & Compliance related systems

Requirements:

    • Fluent spoken & written Arabic & English is required
    • Proven relevant experience working with; (ideally 5 years experience)
    • (i) a financial institution (payment service provider / e-money) and preferably experience also within the virtual financial assets market; or
    • (ii) a regulatory authority; or
    • (iii) a law firm handling compliance matters relating to AML, and applicable payments services laws and regulations
    • Compliance professional qualification of CISI or ICA is required
    • AML qualifications through ICA, CISI or ACAMS s required
    • Approved Person Status with the CBB
    • Thorough understanding of AML regulations and payments services legislation within the banking/financial services industry
    • Ability to distil and discern important information from regulatory guidance, statutes and regulations, audit findings, and other documents and determine how it impacts the business. The understanding of regulatory requirements vs. best practices in compliance is critical
    • Knowledge of GCC regulatory framework
    • Must be able to perform independently and with minimal supervision
    • Strong organizational skills must be multi-tasked oriented and able to balance pressure and deadlines with constantly changing priorities
    • Ability to prioritise workload in line with tight deadlines and work effectively under pressure
    • Experience interacting with local regulators a benefit
    • Knowledge of virtual financial assets and fintech products is preferred
    • Ability to work within a matrixed environment and cross functionally with operations and technology functions

Amber Group opens its doors to the curious problem solver empowered to make an impact in shaping tomorrow. As a hyper-growth company since day 1, we continually invite talent to join our diverse, nimble and digitally-native teams. If this sounds like you, apply now, or get in touch with us today at .