Compliance Officer

at  Lockton Inc

Working at Lockton
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
About the Position
Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day. At Lockton, we believe in the power of all people. You belong at Lockton. How We Will Support You At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it. Competitive Salary and Benefits Package Professional experience in a truly global company that is reshaping the industry Excellent growth opportunities Benefit from a collaborative approach with in-country specialists to assist you in driving growth Support, coaching and development to help you to be the best you can be Hybrid working model, offering you flexibility and a great working environment
Business unit
Dubai
Schedule
Full Time Permanent
Job type
Experienced Professional
Workplace
Hybrid
Your Responsibilities
At Lockton, we’re passionate about helping our people achieve their ultimate potential. Our people are curious, action-oriented, and always striving to make ourselves and those around us better. We’re active listeners working to ensure understanding and problem solvers developing innovative solutions. If you can see yourself delivering excellent service to clients, giving back to our communities and being a part of our caring culture, you belong here.
The Compliance Officer will play a key part in the Lockton Insurance Brokers office in Dubai Hills. The primary objective of this role is to take a proactive stance in devising solutions for business challenges, offering strategic advice, training, and guidance in the formulation of Lockton policies and procedures. This position demands maintaining exemplary professional standards that comply with legal and regulatory mandates, as well as upholding our ethical obligations and responsibilities towards our clientele, ensuring equitable treatment and effective management of conflicts of interest.
The role encompasses the provision, oversight, and assurance of the organization’s ability to equip itself with the necessary procedures, competencies, and tools essential for the delivery of its services and the achievement of its strategic goals. Furthermore, it involves extending comprehensive support across all operational facets within the Legal & Compliance Unit, fostering an environment of compliance excellence and strategic alignment.
This is a fantastic opportunity for a seasoned Compliance Officer to join the world’s largest privately owned insurance brokerage firm in the world, working as part of the UAE Operations function.

QUALIFICATIONS

• Bachelor’s degree in law, business or finance.
• ACAMS Certification
  Equal Opportunity Statement
  Lockton Companies is proud to provide everyone an equal opportunity to grow and advance. We are committed to an inclusive culture and environment where our people, clients and communities are treated with respect and dignity.
  At Lockton, supporting diversity, equity and inclusion is ingrained in our values, and we believe that we are at our best when we fully embrace everyone. We strive to cultivate a caring culture that learns from, celebrates and thrives because of our breadth of differences. As such, we recognize that recruiting, developing and retaining people with diverse backgrounds and experiences is vital and enabling our people to thrive personally and professionally is critical to our long-term success.
  About Lockton
  Lockton is the largest privately held independent insurance brokerage in the world. Since 1966, our independence has allowed us to serve our clients, take care of our people and give back to our communities. As such, our 10,000+ Associates doing business in over 100 countries are empowered to do what’s right every day.
  At Lockton, we believe in the power of all people. You belong at Lockton.
  How We Will Support You
  At Lockton, we empower you to be true to yourself in all that you do. Your success is our success, and we provide opportunities to help you grow and create a rewarding career path, however you envision it.
  We are ready to meet you where you are today, and as your needs change over time. In addition to industry-leading health insurance, we offer additional options to support your overall health and wellbeing.
  No Agencies Please
  Any Employment Agency, person or entity that submits an unsolicited resume to this site does so with the understanding that the applicant’s resume will become the property of Lockton Companies, Inc. Lockton Companies will have the right to hire that applicant at its discretion and without any fee owed to the submitting Employment Agency, person or entity. Employment Agencies, who have fee Agreements with Lockton Companies must submit applicants to the designated Lockton Companies Employment Coordinator to be eligible for placement fees

Qualifications

• An understanding of or a working knowledge of the regulatory framework within the insurance sector, particularly CBUAE regulations.
• Relevant operating experience of working in a risk and compliance environment.
• A legal background or past experience in reviewing contractual agreements.
• Willingness and ability to continue to develop knowledge of the insurance industry and enrol through formal and informal learning.An understanding of the insurance broking business, and general knowledge of insurance products and services

• Engaging in communication with the CBUAE and various governmental entities concerning regulatory compliance issues.
• Facilitating coordination for ADHICS Audits and quarterly reports to HAAD
• Crafting and executing sophisticated internal compliance training initiatives.
• Contributing to the compliance team’s efforts in fulfilling departmental goals and upholding standards.
• Establishing connections with peers across different locations on compliance and AML topics.
• Instituting robust procedures to minimize the risks associated with financial crimes, money laundering, bribery, and corruption within our operations.
• Overseeing the onboarding of new clients and the continuous scrutiny of existing accounts.
• Conducting ongoing assessments of client status changes, including the establishment of controls for account openings and transactions.
• Guaranteeing the comprehensive documentation of case notes, especially for exceptional approvals and risk evaluations.
• Elevating irregularities and sanctioning decisions to the upper management.
• Managing complaints that escalate to the compliance level, ensuring accurate record-keeping and the derivation of lesson

Qualifications

• An understanding of or a working knowledge of the regulatory framework within the insurance sector, particularly CBUAE regulations.
• Relevant operating experience of working in a risk and compliance environment.
• A legal background or past experience in reviewing contractual agreements.

• Willingness and ability to continue to develop knowledge of the insurance industry and enrol through formal and informal learning.An understanding of the insurance broking business, and general knowledge of insurance products and services.