Senior Compliance Officer

The position of Senior Compliance Officer is located in Bahrain and reports directly to the Regional MEA Head of Compliance. The ideal candidate will be responsible for supporting Bahrain business in their regulatory licensing application(s) with the Central Bank of Bahrain, compliance obligations, including daily management of the Bahrain Compliance Program, management of independent reviews/external audits, preparing and submitting regulatory reports, maintaining program documentation tracking, and providing recommendations in program improvements.

The successful candidate will also support the Regional MEA Head of Compliance in other Middle East markets.

• Develop and maintain an appropriate compliance culture within the organization in Bahrain.
• Evaluate and ensure that robust policies and controls are in place and align with regulatory requirements in Bahrain.
• Provide regular updates to senior management on the state of the Compliance Program in Bahrain and escalate any significant risks as soon as necessary.
• Act as the Money Laundering Reporting Officer (MLRO) for the Bahrain operations.
• Monitor, review, and communicate significant regulatory developments within the business environment in Bahrain to all relevant stakeholders, developing technical knowledge in relation to the regulatory framework governing card issuance activities.
• Support regulatory license applications and act as a liaison with regulatory bodies in Bahrain.
• Maintain relationships with regulators such as the Central Bank of Bahrain and other relevant authorities in Bahrain.
• Oversee the effective implementation of internal compliance policies and procedures for card issuance in Bahrain.
• Liaise with internal (e.g., Legal, Compliance, Finance, IT, Security, etc.) and external (external counsel, consultants, etc.) stakeholders to ensure accurate reporting to regulatory bodies in Bahrain.
• Respond to law enforcement requests and inquiries in Bahrain as necessary.
• Perform regular internal reviews to ensure full compliance with all regulatory requirements in Bahrain.
• Prepare and implement action plans to remedy any identified regulatory compliance shortfalls for the Bahrain market and escalate recommendations to senior leadership on required actions.
• Perform other duties and responsibilities as needed from time to time to ensure compliance with regulatory requirements in Bahrain in accordance with global standards.

• A minimum of eight years of relevant experience working within a regulated financial institution; or a regulatory authority; or a law firm handling compliance matters relating to AML and applicable payments services and other traditional finance laws and regulations.
• Locally recognized qualification/s related to the role in Bahrain.
• Experience within the digital assets industry (cryptocurrency) is strongly preferred and advantageous.
• An understanding of AML regulations and payments services legislation within the banking/financial services industry in Bahrain, particularly concerning card issuance.
• Demonstrating an understanding of regulatory requirements vs. best practices in compliance is critical, coupled with the ability to distill and discern important information from regulatory guidance, statutes and regulations, audit findings, and determine how it impacts the business in Bahrain.
• Excellent written, verbal, and interpersonal communication skills and a proven history of working effectively with people at all levels across a decentralized international and matrixed environment.
• Motivated and solution-oriented, with the ability to work successfully across multiple cultures and with demonstrated success working closely within a team as well as independently.
• High standard performance and execution.