Specialist Compliance System Fircosoft

4 weeks ago

Abu Dhabi, Abu Dhabi, United Arab Emirates Dicetek LLC Full time
Roles and responsibilities
  • Developing thresholdsetting methodologies based on statistical models (e.g. NormalDistribution or Jump Analysis)
  • Sub-dividingcustomers into segments using statistical tools including conjointanalysis and clustering algorithms
  • Modellingdetection scenarios and testing thresholds with statistical tools(e.g. R, SAS and Python)
  • Verifying that datamapping and thresholds are complete and fit forpurpose
  • Reducing the volume of false andlow-quality alerts using alerts analysis and datamining
  • Tracking, logging and escalating issuesto the senior management
  • Documentingtuning-related activities and presenting correspondingreports
  • Setting up governance around tuningactivities
  • Applying risk based thresholds forall detection scenarios across alllocations
  • Analyzing machine learning modeloutputs and apply corresponding learnings for better qualityalerts

TechnicalSkills

  • Experience building statisticalmodels i.e. classification, regression, clusteringetc
  • Strong knowledge of SAS EnterpriseGuide.
  • Strong data mining and text analyticsskills.
  • Strong data collection and analysisskills.
  • Basic knowledge of SASE-miner
  • Understanding of banking products andprocesses.
  • Experience with FiServ or similarAML Transaction Monitoring tools.
  • Advancedexcel knowledge
  • ComplianceSoftware: There are various software solutionsdesigned to help businesses automate their compliance activities.These tools can track regulatory changes, monitor transactions,generate reports, and maintain audittrails.
  • Data Security and PrivacyTools: Systems like data encryption, access control,and monitoring tools that ensure personal and sensitive data isprotected, especially in industries with strict privacy regulations(e.g., GDPR in theEU).
  • RegTech:Regulatory technology (RegTech) tools, such as compliancemanagement platforms, that automate monitoring, reporting, anddocument management to streamline compliancetasks.
Desired candidate profile

1.Regulatory and LegalFramework

  • Lawsand Regulations: A compliance system must be builtaround the specific laws and regulations relevant to theorganization's industry and geographical location (e.g.,GDPR for data protection, HIPAA for healthcare, SOX for financialreporting, etc.).
  • InternalPolicies: Compliance systems often include internalcompany policies and procedures that define the ethical standardsand behaviors expected ofemployees.

2. RiskAssessment andManagement

  • RiskIdentification: Compliance systems begin withidentifying potential risks, including legal, financial,operational, and reputationalrisks.
  • RiskEvaluation: After identifying risks, complianceteams evaluate the likelihood and potential impact of these riskson the organization.
  • RiskMitigation: Developing and implementing strategiesand controls to minimize or eliminate the identified risks, such asencryption for data protection or employee training on anti-briberylaws.

3. InternalControls andMonitoring

  • InternalControl Framework: An effective compliance systeminvolves robust internal controls designed to ensure that theorganization is adhering to laws, regulations, and internalpolicies.
  • OngoingMonitoring: Continuous monitoring of businessprocesses, transactions, and operations to detect anynon-compliance issues in real time. This may include automatedtools for monitoring transactions, audits, andreporting.
  • Auditing andReporting: Regular internal audits and externalreviews to ensure compliance with relevant laws and companypolicies. Reports are generated to inform stakeholders aboutcompliance status.

4.Documentation and RecordKeeping

  • RecordsManagement: Keeping accurate and up-to-date recordsof compliance-related activities, including audits, trainingsessions, risk assessments, and compliancereports.
  • Document RetentionPolicies: Ensuring that records are retained for thenecessary period in line with legal or regulatoryrequirements.
  • Traceability:Maintaining traceability of actions, such as approvals or actionstaken to address compliance issues, in case of futureinvestigations.

5.Training andAwareness

  • EmployeeTraining: Regular training programs to ensureemployees understand the organization's compliancepolicies, ethical standards, and legalobligations.
  • OngoingAwareness: Ongoing communication and awarenesscampaigns to keep employees informed about changes in regulationsand compliance procedures.
Key Skills
CompletionOperations,Legal & Compliance,Risk and Compliance
Employment Type : Full-time
Department / Functional Area: Compliance
Experience: NotMentioned years
Gender: Male
Vacancy: 1
Joining Date: Tue, 18 Feb 2025

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