Since launching in 1989, CMC Markets has become one of the world’s leading online financial trading businesses. CMC is listed on the London Stock Exchange and serves retail and institutional clients through 15 offices in 12 countries across four continents.
CMC offers an award-winning online and mobile trading platform, enabling clients to trade over 10,000 financial instruments across shares, indices, foreign currencies, commodities and treasuries through contracts for difference. In Australia, the Group also offers stockbroking services.
CMC is committed to recruiting, developing, retaining and motivating exceptional people who are talented, innovative and focused on delivering excellence. The Group’s values centre on:
More information about the Group can be found at www.cmcmarkets.com.
Background and Purpose of the Role
The Senior Compliance Analyst will support the Compliance Officer/MLRO in operating and maintaining the compliance framework of CMC Markets Middle East Limited, ensuring that the business operates in accordance with the DFSA Rulebook, DIFC laws, applicable UAE federal requirements and Group policies.
This is a hands-on generalist role for an experienced compliance professional who can work independently from day one. The role acts as deputy to the CO/MLRO, providing cover across compliance and financial crime matters, and supports the day-to-day work of the AML/KYC Associate.
Role Overview
The Senior Compliance Analyst takes ownership of core second-line activities, including compliance monitoring, regulatory reporting, financial promotions, client classification oversight, complaints, training and regulatory change. Within delegated authority, the role approves routine financial promotions and prepares DFSA returns and notifications for final review and submission by the CO/MLRO. CMCME serves Professional Clients, including corporate clients, and the role requires a sound understanding of the DFSA conduct and financial crime requirements that apply to that client base.
Key Responsibilities
Compliance Advisory and Business Support
- Act as the first point of contact for compliance queries from the business, providing clear, practical advice and escalating matters requiring CO/MLRO judgement.
- Advise on the application of the DFSA Rulebook, in particular the GEN, COB and AML modules, and CMCME’s policies and procedures.
- Identify, record and escalate breaches, errors, control weaknesses and regulatory risks, and support root-cause analysis and remediation.
- Maintain CMCME’s compliance registers, including the breach, conflicts of interest, gifts and hospitality, personal account dealing and outside business interest registers.
- Review new products, services, counterparties and business initiatives from a compliance perspective.
- Maintain effective communication with the UK Head Office and global Compliance teams.
Deputising for the CO/MLRO
- Act as deputy to the CO/MLRO, providing cover for compliance and financial crime matters during absence, within agreed authority and escalation arrangements.
- Provide day-to-day guidance to the AML/KYC Associate and carry out quality assurance reviews of onboarding and screening files.
- Where cover for onboarding or screening is provided, do not carry out quality assurance or monitoring of files you have processed yourself. Such reviews will be reassigned or completed by the CO/MLRO.
- Support the CO/MLRO in reporting to senior management and the Board, and in meetings with the DFSA, auditors and Group functions when delegated.
Compliance Monitoring and Testing
- Contribute to the design of the annual risk-based Compliance Monitoring Programme and deliver reviews in line with the approved plan.
- Carry out monitoring reviews and control testing, documenting work papers, findings and recommendations to a consistent standard.
- Agree remediation actions with the business and track them to completion.
- Oversee client classification, including Professional Client assessments and supporting evidence, client agreements and required disclosures.
- Carry out periodic reviews of client money and client asset arrangements, reconciliations and related controls, where applicable to CMCME’s licence.
Regulatory Reporting and Notifications
- Own the regulatory reporting calendar and prepare DFSA returns, notifications and submissions for final review and submission by the CO/MLRO.
- Prepare monthly and quarterly compliance management information and reports for the CO/MLRO, senior management and the Board.
- Maintain CMCME’s regulatory records, including Authorised Individual and Licensed Function records, and identify changes requiring DFSA notification or approval.
- Coordinate responses to DFSA supervisory requests, risk assessments and onsite visits, and to internal and external audits.
Regulatory Change and Policies
- Monitor DFSA consultation papers, Rulebook updates, Dear CEO letters, enforcement outcomes and other regulatory publications.
- Assess the impact of regulatory developments on CMCME and recommend changes to policies, procedures and controls.
- Draft and maintain compliance policies, procedures and the compliance manual.
Financial Promotions and Client Communications
- Review and approve routine financial promotions, website content, social media posts and client communications within delegated authority, checking they comply with DFSA requirements and are clear, fair and not misleading.
- Check that promotions are directed only at the client types CMCME is permitted to deal with, and that required risk warnings and disclosures are included.
- Escalate non-routine or higher-risk materials to the CO/MLRO for approval.
- Maintain the financial promotions approval log and records of sign-off.
Complaints and Conduct
- Manage the complaints-handling process, including investigation, documentation and resolution within required timeframes.
- Maintain the complaints register, identify recurring themes and root causes, and recommend improvements to controls, processes or client communications.
Training and Awareness
- Deliver compliance and AML training, including induction and annual refresher training, and maintain training records.
- Identify training needs and prepare compliance updates and briefings for staff.
Experience
Essential
- Approximately 3–5 years’ compliance experience within a firm regulated by the DFSA, FSRA, SCA or FCA.
- Working knowledge of the relevant regulatory rulebook (DFSA, FSRA, SCA or FCA), including conduct of business, financial promotions, client classification and AML requirements.
- Experience of compliance monitoring and testing, preparing regulatory returns and reviewing financial promotions.
- Sound understanding of AML/CFT and sanctions requirements, sufficient to deputise for the MLRO.
- Degree in law, finance, business, economics or a related subject, or equivalent professional experience.
- Strong written and verbal communication skills, with the ability to give clear, practical advice and constructive challenge.
- Ability to work independently, manage competing priorities and meet regulatory deadlines.
- Professional integrity and sound judgement.
Desirable
- Direct experience of the DFSA Rulebook and DFSA supervisory processes.
- Experience in online trading, CFDs, brokerage or investment services, particularly with Professional and corporate clients.
- A professional compliance or AML qualification, such as the ICA Diploma in Compliance, ICA Diploma in AML or CAMS.
- Previous approval by the DFSA or another regulator for a Licensed Function or equivalent role, such as Compliance Officer or MLRO.
- Experience of supervising or guiding junior team members.
- Experience working in the DIFC and existing UAE residency.
