Role Overview
The Legal & Compliance Manager is responsible for ensuring that the company's gold trading operations fully comply with UAE laws, DMCC regulations, AML/CFT requirements, and applicable virtual asset regulations (if any). The role acts as the primary liaison with regulators, auditors, banks, vault operators, and internal stakeholders.
This position is critical for maintaining regulatory compliance, protecting the company's licence, and supporting safe, transparent gold trading activities.
Key Responsibilities
1. Regulatory Compliance
- Ensure ongoing compliance with DMCC Rules & Regulations, UAE Commercial Companies Law, and relevant federal laws.
- Interpret and implement UAE AML/CFT laws, including Cabinet Resolution No. 10 of 2019 and subsequent updates.
- If applicable, manage compliance with VARA regulations for digital or tokenised gold certificates.
- Monitor regulatory changes and advise management on compliance impact.
2. AML / KYC / Sanctions
- Design, implement, and maintain AML, KYC, and CDD frameworks for individual and corporate clients.
- Oversee client onboarding, risk profiling, enhanced due diligence (EDD), and ongoing monitoring.
- Ensure sanctions and PEP screening in line with UN, OFAC, EU, and UAE requirements.
- Review transactions for suspicious activity and prepare STR/SAR filings when required.
3. Legal Documentation & Contracts
- Draft, review, and negotiate:
- Gold trading agreements
- Client terms & conditions
- Gold certificate documentation
- Vaulting and custody agreements
- Supplier and refinery contracts
- Ensure legal clarity on ownership, allocation, redemption, and liability related to stored gold.
4. Vaulting, Custody & Audits
- Oversee compliance related to DMCC-approved vaults and allocated gold storage.
- Coordinate proof-of-reserve audits, vault reconciliations, and insurance documentation.
- Ensure segregation of client assets from company assets.
5. Regulatory & External Liaison
- Act as the main point of contact with:
- DMCC
- VARA (if applicable)
- Banks and financial institutions
- External auditors and compliance consultants
- Support regulatory inspections, licence renewals, and reporting obligations.
6. Internal Controls & Governance
- Establish internal compliance controls and policies.
- Conduct periodic internal compliance reviews and risk assessments.
- Train staff on compliance, AML, and regulatory obligations.
- Report compliance issues and risks to senior management.
Qualifications & Experience
Mandatory
- Bachelor's degree in Law, Compliance, Finance, or related field
- 510 years of experience in legal and/or compliance roles
- Strong knowledge of DMCC regulations and UAE AML/CFT framework
- Experience in gold trading, commodities, bullion, or financial services
Preferred
- Experience with vaulting, custody, or precious metals trading
- Exposure to VARA or digital asset regulations
- Professional certifications:
- CAMS
- ICA Diploma in Compliance / AML
- Relevant UAE compliance certifications
Skills & Competencies
- Strong regulatory interpretation skills
- Excellent drafting and contract review ability
- High attention to detail and integrity
- Ability to communicate effectively with regulators and banks
- Risk-based, practical compliance mindset
Key Performance Indicators (KPIs)
- Zero regulatory breaches or licence violations
- Timely regulatory filings and licence renewals
- Successful audits with minimal findings
- Effective AML/KYC onboarding and monitoring
- Positive regulator and banking relationships
