Compliance Officer

JOB DESCRIPTION

1. ROLE DETAILS:

Position title: Compliance Officer (MC/2)

Reports to: Compliance Manager

Department: Governance & Control

2. ROLE PURPOSE:

The Compliance Officer plays a key role in ensuring the company operates within the regulatory framework.

This position is responsible for developing implementing and maintaining compliance programs policies

and procedures as well as providing expert guidance to management and staff. The role ensures all business

activities align with applicable laws and regulations. Additionally the Compliance Officer supports the

Compliance Manager by overseeing regulatory compliance ensuring policies are current managing risk

oversight processes and ensuring full compliance with Qatar Central Bank (QCB) guidelines.

3. KEY ACCOUNTABILITIES:

Description

Compliance Management

Responsible in the establishment and monitoring of compliance policies and procedures for all departments and

assisting the Compliance Manager on Compliance issue for client with QCB and any other regulator as

applicable.

Provide training to the employees on compliance issues as and when necessary.

Coordinate with Compliance Manager to provide relevant compliance updates to the competent departments.

Ensure compliance of clients insurance products and policies with the legal and regulatory requirements.

Assist Compliance Manager to identify the actual and potential conflicts of interest and manage them legally and

effectively.

Responsible for the formulation and implementation of Compliance program & Compliance plan

Receive review and close all circulars / letters received from QCB or any other regulator.

Coordinate with Compliance champions for Compliance review meetings and QCB requirements

Identify and measure regulatory risks and assess its impact on business and ensure compliance with legal aspects

and requirements.

Continuously monitor compliance with statutory obligations and advise management accordingly.

Formulate compliance checklists to be used for the purpose of ensuring that all information required is provided

accordingly.

Prepare monthly and quarterly reports for executive management meetings.

Assisting the BOD Secretary:

Assist the BOD secretary in preparing presentations.

Support the preparation of minutes of meetings (MOM) and ensure their accuracy.

Manage and organize the filing and documentation related to the Board of Directors.

Ensure documents are organized and easily accessible.

Provide logistical support during Board meetings ensuring all materials are prepared in advance.

Follow up on action items from Board meetings and coordinate with relevant departments.

Regulatory Compliance

Review and monitor changes in the regulatory environment in respect to regulations

Ensure that client is in compliance with regulations and guidelines

The Compliance Officer reports to the Compliance Manager

The jobholder exercises financial authority as per the level established by clients Management.

Always review Compliance requirements and be Compliant to QCB and other regulations.

5. FRAMEWORKS BOUNDARIES & DECISION MAKING AUTHORITY:

JOB DESCRIPTION

Meet with regulators on an ad-hoc basis to clarify new regulations and make sure client meets the requirements

and deadlines for implementation

Policies Systems Processes & Procedures

Develop and oversee the implementation of department policies procedures and controls covering all areas of

Compliance department activity so that all relevant procedural/legislative requirements are fulfilled while delivering

a quality cost-effective service.

Leadership

Assist Compliance Manager to manage the effective achievement of clients objectives through the leadership

Compliance department setting individual objectives recruiting qualified staff managing performance

developing and motivating staff provision of formal and informal feedback and appraisal in order to maximise

subordinate and departmental performance.

4. KEY PERFORMANCE INDICATORS:

Ensure the company complies with all regulatory requirements.

Timely submission of regulatory reports and documents.

Successful coordination and execution of governance processes and meetings.

Compliance with all legal and regulatory requirements ensuring no breaches.

Effectiveness of compliance training programs and the completion of required training by employees.

Timely resolution of identified compliance issues.

6. COMMUNICATIONS & WORKING RELATIONSHIPS:

Internal:

All department managers and staff

External:

Regulator(s)

External Consultants

7. KNOWLEDGE & EXPERIENCE:

Knowledge & Experience:

Bachelor / masters degree in law Business Administration Audit & Risk Management from a reputable university.

A background in insurance and risk management preferably from an insurance company

Certification/Training in Compliance disciplines

10-12 years minimum of progressive experience in Compliance

8. SKILLS & COMPETENCIES:

Principals and leading standards of best practice

Use of Compliance Tools and techniques

Policies Procedures and Work Methods Knowledge

Communication Skills

Coordination skills

Training skills

Facilitation skills

Negotiation Skills

JOB DESCRIPTION

Presentation skills

Planning and Organizing Skills

Business Understanding Skills

Proficient Report Writing and Drafting Skills

Administration/ Planning / Managerial Skills.

Strong Leadership skills