Money Laundering Reporting Officer (MLRO)

Who We Are

Stake is the MENA region’s most exciting real estate fintech company, combining real estate expertise and innovative financial technology to deliver products that empower everyone to own and build wealth through Real Estate. Launched in 2021 we have grown rapidly, leveraging decades of experience in technology, financial services and global real estate, to launch the MENA region’s first mobile app for fractional real estate investing.

This is just the beginning and we’re currently searching for highly talented individuals to join and help lead our expansion into international markets and new business lines

The Compliance Team

Safeguarding Standards: Our Compliance team ensures every transaction is transparent, legal, and aligned with Regulatory Guidelines, giving customers peace of mind in every Investment decision

We are looking for a proactive and experienced Money Laundering Reporting Officer (“MLRO”) who will report to the Group Head of Compliance to take responsibility for managing the Firm’s AML risk. The MLRO will assume responsibility in managing AML risk and cross functional collaboration. This role requires strong collaboration with all teams within the Firm.

What You’ll Do

The MLRO resident in the UAE and has responsibility for the implementation of the Firm’s anti money laundering policies, procedures, systems and controls and day to day oversight of its compliance with the Rules in AML and any relevant anti money laundering legislation applicable in the UAE and enforced by the Central Bank of the UAE.

The responsibilities of the MLRO include, but not limited to, the following:

• Establish and implement a Compliance Monitoring Program (CMP) related to financial crime.
• Assist the Compliance Officer in meeting applicable requirements set out in Federal AML Laws, and UAE Cabinet Decisions.
• Retain oversight and approve due diligence processes and ongoing AML reviews for existing clients and business partners.
• Carry out day to day tasks in relation to customer due diligence (KYC), client onboarding process, risk assessment for crowdfunding operations.
• Suspicious Activity Reporting in accordance with Federal AML legislation.
• Respond to any request for information or data reporting made by the UAE authorities.
• Act as the point of contact within the Relevant Person for competent UAE authorities related to money laundering.
• Identify and assess the financial crime risk associated with the company’s current and proposed future business activities.
• Act as key person who is responsible for the oversight of all AML/CFT and sanctions matters, including implementation of effective controls.
• Oversee systems and controls to identify and mitigate potential areas of financial crime vulnerability and risks/gaps and develop/implement corrective action plans.
• Conduct product risk assessments.
• Prepare reports for senior management, auditors, and external regulatory bodies as appropriate.
• Establish and maintain an appropriate AML/ Compliance training program and adequate awareness arrangements.
• Establish and maintain monitoring and reporting processes and procedures to ensure that any AML/Compliance breaches are readily identified, reported and promptly acted upon.
• Ensure that the monitoring and reporting processes and procedures are documented and that records of breaches of any legislation applicable are maintained.
• Ensure completion of at least 15 hours of structured continuing professional development (‘CPD’) hours per year relevant to [his/her] role (including any anticipated changes in the role), professional skill and knowledge and ensure that appropriate records of such CPD activities are maintained.
  
  

What We’re Looking For

• Education: ACAMs qualified candidates will be preferred or any other relevant AML experience.
• Experience: 8+ years of AML experience, with a strong acumen for attention to detail, leadership, complex problem solving and AML systems tuning experience.
• Regulatory authorisation: Currently or previously authorised by the DFSA, FSRA or CBUAE as an MLRO, would be preferred.
• Skills: Proactive, detail-oriented, excellent communicator, and capable of managing multiple tasks efficiently. The preferred candidate should have excellent stakeholder management skills.
  
  

Preferred Languages: English and Arabic

Why You Should Join Stake

• Hybrid work environment
• Work directly with senior leadership in one of the region’s fastest growing start-ups; you will get exposure to all functions at Stake and have the chance to learn from the very best in the space!
• Generous equity compensation; this aims to bring a high degree of ownership into your work. As Stake grows, you grow with it!
• Budget for learning and development; we want Stakers to constantly strive for personal and professional growth
• Best in class end of service savings scheme; through DIFC-sponsored DEWS programme
• Off-sites and regular team events
  
  

Stake has a high performance culture where the bar is always rising. We bring on brilliant, ambitious and curious people who see the value in Stake and want to grow with us.