Control and Compliance Manager
Venture Search is hiring for a Control and Compliance Manager for our client who are an international commodities firm based in the DIFC. As the Control and Compliance Manager, you will play a pivotal role in ensuring that the operations adhere to industry regulations, internal policies, and ethical standards. Your expertise will help them maintain a strong reputation for transparency, integrity, and responsible business practices within the highly regulated oil and gas trading sector.
- Stay up-to-date with relevant laws, regulations, and industry standards impacting trading operations.
- Develop and implement compliance policies, procedures, and controls to mitigate risks and ensure adherence to applicable regulations.
- Identify and execute new business onboarding process that addresses all business needs.
- Collaborate with legal teams to interpret and implement compliance requirements, ensuring the company's activities remain compliant at all times.
- Overseeing the process of customer identification and verification to ensure the accuracy and authenticity of customer
- Ensuring that CDD is performed for all customers, including enhanced due diligence (EDD) for high-risk customers or transactions.
- Make sure that Company is conducting its business in full compliance with all national and international laws and regulations that pertain to its industry as well as professional standards.
- Conduct thorough risk assessments to identify potential compliance and operational risks related to oil and gas trading activities.
- Design and implement risk mitigation strategies, including the development of contingency plans and crisis management procedures.
- Monitor and assess the effectiveness of risk mitigation efforts and adjust strategies as needed.
· Conducting risk assessments on customers and transactions to identify potential risks and determine the appropriate level of due diligence required.
Internal Policies and Procedures:
- Develop, update, and communicate internal policies and procedures related to trading, finance, and operations.
- Educate employees and stakeholders on compliance-related matters, providing training and guidance as necessary.
Audits and Assessments:
- Plan, coordinate, and execute regular internal audits to evaluate compliance with established policies and procedures.
- Liaise with external auditors and regulatory bodies during audits, providing necessary documentation and explanations.
Ethics and Integrity:
- Foster a culture of ethics and integrity throughout the organization, promoting a zero-tolerance approach to unethical behavior.
- Investigate and address instances of non-compliance, unethical conduct, or potential violations promptly and effectively.
Reporting and Documentation:
- Prepare accurate and timely compliance reports for senior management, highlighting areas of concern and recommending corrective actions.
- Maintain organized documentation of compliance efforts, audit findings, and remediation measures.
· Identifying opportunities for using technology to enhance KYC processes and improve efficiency.
Training and Awareness:
- Develop and deliver compliance training programs to employees at all levels to enhance understanding of compliance requirements and responsibilities.
- Bachelor’s degree in business, Law, Finance, or a related field. Advanced degree or professional certifications (e.g., CCEP, CFE) is a plus.
- Proven experience (7 years plus) in compliance management within the oil and gas trading or related industry.
- Solid understanding of global regulatory frameworks and industry standards applicable to oil and gas trading.
- Strong analytical skills with the ability to identify potential risks and develop effective risk mitigation strategies.
- Excellent communication and interpersonal skills to interact with diverse stakeholders and convey complex compliance concepts clearly.
- Detail-oriented with exceptional organizational abilities to manage documentation, audits, and reporting.
- Ability to lead and collaborate effectively within a team and across departments.
- High ethical standards and a commitment to promoting a culture of compliance and integrity.
- Nice to have Compliance - Registration knowledge pertaining to Oil & Gas or trading house Industry