Compliance Manager

About the role

As a Compliance Manager, your primary responsibility will be to ensure that the company adheres to all relevant laws, regulations, and industry standards set by Central Bank of Iraq. You will play a crucial role in overseeing and implementing compliance policies and procedures to minimize risks and ensure the company's operations align with the local and international regulatory landscape.

Key Responsibilities

Monitor and stay up-to-date with relevant laws, regulations, and guidelines issued by Iraqi regulatory bodies, such as the Central Bank of Iraq and other financial authorities. Ensure the company's operations comply with these requirements.

Develop, update, and implement compliance policies, procedures, and controls to address specific regulatory requirements and mitigate potential risks. Collaborate with cross-functional teams to integrate compliance considerations into business processes.
Conduct regular training sessions for employees to raise awareness of compliance requirements and ensure that all staff members understand their roles in maintaining compliance.
Identify and assess potential compliance risks, such as anti-money laundering (AML) and counter-terrorism financing (CTF), data privacy, and consumer protection. Implement risk management strategies to prevent and address compliance issues.
Establish and maintain a robust monitoring system to track compliance with internal policies and regulatory requirements. Prepare regular compliance reports for senior management and relevant authorities, as necessary.
Coordinate internal and external audits and assist in any compliance-related investigations, working closely with audit firms and regulatory agencies.
Act as the primary point of contact for regulatory inquiries and coordinate responses to regulatory requests.
Perform due diligence on third-party vendors, business partners, and customers to ensure they meet the company's compliance standards.

Requirements

Bachelor's degree in Business, Finance, Law, or a related field. A Master's degree in a relevant discipline will be advantageous.

Proven experience (typically 5+ years) in a compliance role within the financial services industry, preferably in a Fintech company or a bank. Age above 29 years.

In-depth understanding of the regulatory landscape in Iraq, particularly related to financial services and Fintech operations.

Strong knowledge of risk management principles and the ability to assess and mitigate compliance risks effectively.

Experience in developing and implementing compliance policies and procedures tailored to the specific requirements of the organization and the regulatory environment.

Excellent communication and interpersonal skills to effectively collaborate with different teams and present complex compliance issues in a clear manner.

Strong analytical and problem-solving skills to identify compliance gaps and recommend appropriate solutions.

High ethical standards and a commitment to maintaining confidentiality and data privacy.

Relevant certifications such as Certified Regulatory Compliance Manager (CRCM) or Certified Anti-Money Laundering Specialist (CAMS) will be considered a plus.

Please note that the above job description and requirements are general guidelines and may vary depending the operations in Iraq. As the compliance landscape is subject to change, the Compliance Manager must continually update their knowledge and adapt to new regulations and requirements.

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