Head of Aml

4 weeks ago

Dubai, United Arab Emirates Witty Tech Ltd Full time

W1TTY is a fast-growing UK based fintech, setting new standards for digital finance. We’re building a new digital finance platform and a fully mobile-based finance app, offering multicurrency accounts, domestic and international transfers, debit cards, and instant payments. Amongst our platform are components such as core banking, mobile banking, cards systems, and many more.

As Head of AML, you will play a pivotal role in safeguarding our organization against financial crime risks, particularly money laundering and terrorist financing, by designing and implementing effective AML policies, procedures, and controls. You will leverage your digital banking expertise to identify and mitigate emerging risks associated with online financial services, while collaborating closely with regulatory authorities to ensure compliance with local and international regulations.

**Responsibilities**:

- Develop and execute a comprehensive AML strategy, ensuring alignment with the organization's digital banking operations and strategic objectives.
- Lead and manage a high-performing AML team, providing guidance, mentorship, and fostering a culture of continuous improvement.
- Design, implement, and maintain AML policies, procedures, and controls tailored to the unique challenges of digital banking and financial technology.
- Stay abreast of evolving AML regulations and industry best practices, adjusting the organization's approach as necessary to ensure compliance.
- Collaborate with cross-functional teams, including Legal, Risk Management, Compliance, and Technology, to identify and address AML-related concerns.
- Establish strong relationships with regulatory authorities, acting as the primary point of contact for AML-related inquiries and examinations.
- Oversee the organization's customer due diligence (CDD) and enhanced due diligence (EDD) processes, ensuring accurate risk assessments and timely identification of high-risk customers.
- Conduct regular AML risk assessments of the organization's products, services, and digital channels, recommending enhancements to mitigate emerging risks.
- Lead AML training and awareness initiatives for employees, fostering a culture of compliance throughout the organization.
- Assign tasks, set performance goals, and conduct regular employee performance evaluations
- Oversee the development and maintenance of robust transaction monitoring systems and procedures.
- Review and analyze alerts generated by the system and ensure timely and appropriate investigation and reporting of suspicious activities.
- Establish and maintain customer due diligence procedures to verify and document the identity of customers.
- Ensure that enhanced due diligence is conducted for high-risk customers.
- Prepare and submit suspicious activity reports (SARs) to regulatory authorities as required.
- Communicate AML findings and issues to senior management and the board of directors.
- Evaluate, select, and oversee the implementation of AML technology solutions and tools
- Ensure that tools are effectively utilized for monitoring and reporting purposes.
- Coordinate and participate in internal and external AML audits and assessments.
- Address findings and implement corrective actions.
- Monitor regulatory changes and assess their impact on AML operations.

**Qualifications**:

- Bachelor's degree in Finance, Business, Law, or a related field; advanced degree or relevant certification (e.g., CAMS, CFE) is preferred.
- Minimum of 8 years of experience in AML and compliance within the financial services sector, with a focus on digital banking and fintech.
- Proven track record of successfully leading and managing AML teams, ideally in a multicultural and diverse environment.
- Extensive knowledge of AML regulations, including those specific to digital banking, and experience in engaging with regulatory authorities.
- Strong understanding of digital banking operations, emerging technologies, and the associated AML risks and challenges.
- Excellent communication and interpersonal skills, with the ability to build relationships at all levels of the organization and with external stakeholders.
- Analytical mindset with the ability to identify trends, anomalies, and potential AML risks through data analysis.
- Proficiency in implementing and utilizing AML technology solutions for monitoring, detection, and reporting purposes.

**What We offer**:

- Work in an international company.
- Competitive salary.
- Possibility to make an impact on international business success.

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