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.
Job role:
Regulatory Compliance:
- 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.
Risk Management:
- 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.
Experience needed:
- 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