Compliance Associate - Quality Assurance And Monitoring

At RAKBANK, we believe in fostering a culture of innovation, growth, and excellence. We are not just a bank, we are a community that thrives on teamwork, customer-centric solutions, and the highest standards of governance.

The AML/CFT Quality Assurance & Framework Specialist plays a critical role in strengthening the Banks Anti-Money Laundering (AML) and Counter Financing of Terrorism (CFT) framework. The role is responsible for assessing the effectiveness of AML/CFT controls, identifying gaps and weaknesses, implementing remedial actions, and ensuring compliance with regulatory requirements and internal policies. The position also supports continuous improvement initiatives to enhance the Banks financial crime compliance framework and risk management practices.

What You Will Be Doing:

• Implement and maintain the Banks AML/CFT framework in line with regulatory requirements and industry best practices.
• Conduct quality assurance reviews to assess the effectiveness of AML/CFT policies, procedures, controls, and monitoring programs.
• Identify weaknesses, deficiencies, and control gaps within AML/CFT processes and recommend corrective actions.
• Develop and execute remediation plans to enhance the overall effectiveness of the AML/CFT framework.
• Perform AML/CFT risk assessments to identify, evaluate, and monitor emerging financial crime risks.
• Support the implementation of risk mitigation strategies and ensure timely resolution of identified issues.
• Monitor compliance with internal AML/CFT policies, procedures, and regulatory obligations.
• Assist in the development, review, and enhancement of AML/CFT policies, procedures, and governance frameworks.
• Ensure AML/CFT policies and procedures are effectively communicated and consistently applied across the organization.
• Support the escalation and reporting of suspicious activities to relevant stakeholders and regulatory authorities where required.
• Develop and deliver AML/CFT awareness and training programs to employees across the Bank.
• Promote a strong culture of compliance, ethical conduct, and financial crime risk awareness.
• Monitor regulatory developments, industry trends, and emerging AML/CFT risks, recommending enhancements where necessary.
• Provide management with periodic reports and insights on AML/CFT framework effectiveness, quality assurance findings, and remediation progress.
• Collaborate with internal stakeholders, business units, and control functions to strengthen compliance and governance standards.
• Support continuous improvement initiatives by implementing best practices, process enhancements, and innovative compliance solutions.

What You Should Have:

• Bachelors Degree in Finance, Business Administration, Law, Compliance, Risk Management, or a related discipline.
• Minimum 3 years of experience in Compliance, AML, Financial Crime, or Risk Management.
• Prior experience in AML, KYC, Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), Transaction Monitoring, or Financial Crime Compliance preferred.
• Professional certifications in AML, Compliance, Risk Management, or related disciplines will be an added advantage.
• Strong English communication and computer literacy skills.

What We Are Looking For:

• Strong understanding of AML/CFT laws, regulations, regulatory expectations, and financial crime risk management practices.
• Excellent analytical and problem-solving skills with the ability to assess complex situations and recommend practical solutions.
• Strong quality assurance, control testing, and compliance monitoring capabilities.
• Ability to interpret regulatory requirements and translate them into effective operational controls.
• Excellent stakeholder management and relationship-building skills.
• Strong planning, prioritization, and organizational abilities.
• Ability to work collaboratively across multiple functions and support organizational objectives.
• High attention to detail with a strong focus on accuracy, governance, and compliance.
• Proactive, solutions-oriented mindset with a commitment to continuous improvement.
• Strong written and verbal communication skills with the ability to influence stakeholders at all levels.

Whats In It For You

• Opportunity to play a key role in protecting the Bank from financial crime and regulatory risk.
• Exposure to regulatory, compliance, and financial crime governance initiatives.
• Career growth and development opportunities within a leading UAE banking institution.
• Collaborative and inclusive work environment that values integrity, accountability, and innovation.
• Opportunity to work alongside experienced compliance and risk professionals.
• Competitive compensation and benefits aligned with performance and contribution.