Usman Butt

Head of Compliance and MLRO for payment services business.

Managing, delivering and coordinating policy work cross-sector / redress-based and relating to BREXIT.
 Leading a project on high risk investments and product intervention.
 Implementing the FCA Mission framework for all policy work.
 Using technical knowledge and project management skills for preparation of policy papers and to attain approval at all internal regulatory policy governance committees - e.g. PS18/22: Authorised Push Payment Fraud - extending the jurisdiction of the Financial Ombudsman Service.

DFSA-registered Compliance Officer:
 Providing compliance oversight for the Bank in accordance with the expectations of the regulatory requirements of the DFSA. Overseeing of the Bank's compliance obligations and being the key point contact with the DFSA.
 Preparation and implementation of the Annual Compliance Plan; and responsibility for implementing and updating the Bank's Compliance Manual.
 Undertake the periodic Compliance & Risk Monitoring Programme.
 Responsibility for ensuring relevant KTPB Group Compliance procedures are complied with.
 Ensuring that staff knowledge is kept up to date on compliance matters in respect of the DFSA Rulebook.
DFSA-registered Money Laundering Reporting Officer (MLRO):
 Providing oversight in respect of the Bank's AML systems and controls; and responsibility for implementing and updating the Bank's AML Policy.
 Monitoring the systems in place to ensure adequate KYC due diligence and to meet the relevant CTF and sanctions obligations; and approving KYC Compliance Checklists and overseeing and approving on-going customer due diligence.
 Reviewing AML compliance screening results for all inward and outgoing remittances, and ultimately to provide compliance approval through the BOA banking system; and resolving all alerts generated by the Transaction Monitoring System (TMS) module of BOA.
 Performing an annual review of the AML systems and controls in place. Working closely with IT to recommend continual improvements/enhancements to the AML Risk Assessment module and TMS module of BOA.
 Reporting to senior management periodically, but at least once each year on the AML/CTF systems and processes in place within the Bank.
 Coordinating training programs; to include, at least, delivery of annual AML awareness training.
 Acting as the contact point for the receipt of internal suspicious activity/transactions reports.
 Assessment of internally reported suspicious transactions/activities, and making external STR filings to the AMLSCU of the UAE Central Bank.
 Responsibility for ensuring relevant KTPB Group AML procedures are complied with.
Compliance Officer (CO) & MLRO Reporting:
 Direct reporting line to the Board Audit & Risk Committee and a dotted reporting line to the Chief Executive Officer (authorised as the Senior Executive Officer by the DFSA).
 Preparation of Monthly Business Outlook report for Board Member.
 Preparation of Quarterly Compliance Dashboard for the Board Audit & Risk Committee.
Company Secretary:
 Secretary to Board of Directors meetings, and Shareholder meetings (AGM's/EGM's). Setting agendas, calling meetings as required, drafting minutes, written resolutions and other corporate/company registration documentation.
 Leading the company secretarial function and ensuring compliance with the DIFC Registrar of Companies' corporate filing obligations.
 As Company Secretary, reporting to the Board and the Chief Executive Officer.

Regulatory Compliance Advisory:
1) Assisting clients to set-up regulated operations in the DIFC.
2) Undertaking independent compliance and AML/KYC reviews for clients.
3) Assisting Shari’ah Supervisory Boards conduct independent Shari’ah compliance reviews.
4) Assisting clients fulfil their prudential/capital adequacy reporting requirements - in line with Basel III.

Jan 2010 - Present The Emirates Capital Ltd DIFC, U.A.E.
Chief Compliance Officer & Company Secretary
* A European merchant bank and corporate finance boutique, whose primary focus is providing financial advisory and capital raising services to middle market clients in the Middle East, Europe, North America and Southeast Asia. Emirates Capital's services include investment management activities.
* Responsible for all company secretarial work including the establishment and maintenance of compliance and AML arrangements, including processes and procedures that ensure and evidence compliance with all legislation applicable in the Dubai International Financial Centre (DIFC)
* Reporting to the CEO, CFO and Board of Directors.

Jan 09 - Jan 2010 Global Commodity Finance DIFC, U.A.E.
Head of Compliance Officer & Company Secretary
* A DIFC Islamic Financial Services Company whose goal is the installation of complete electronic capital markets and treasury/liquidity management platforms for the Islamic banking industry.
* Responsible for the establishment and maintenance of compliance and AML arrangements, including processes and procedures that ensure and evidence compliance with all legislation applicable in the DIFC.
* Reporting to the Board of Directors, Shari'a Supervisory Board, Executive Committee and General Counsel.

Apr 08 - Aug 2008 Oasis Crescent Capital DIFC, U.A.E.
Head of Compliance
* An Islamic Financial Institution operating Shari'a-compliant funds with a focus on asset growth through securing investments in the Oasis Crescent Global Income Fund, Oasis Crescent Global Equity Feeder Fund and Oasis Crescent South African Equity Feeder Fund.
* Responsible for ensuring that procedure manuals, compliance and AML monitoring programmes and check lists are maintained and updated regularly when there are changes in the regulatory and/or legislative framework applicable in the DIFC.
* Responsible for ensuring that Shari'a reviews are conducted in accordance with Governance Standards mandated by the Accounting & Auditing Organisation for Islamic Financial Institutions (AAOIFI)
* Reporting to the Oasis Group Head Legal & Compliance; CEO of the Oasis Group; and Chairman of the Oasis Group.

Feb 03 - Mar 2008 Dubai Financial Services Authority DIFC, U.A.E.
Senior Manager
* Senior Case Manager responsible for processing applications in a timely manner in accordance with agreed "risk-based" procedures.
* Assessed applications with reference to the Authorisation Module and, in particular, against the "fit and proper criteria" affecting Authorised Firms and Authorised Individuals.
* Demonstrated expertise in considering business models of banking, brokerage, asset management, insurance and Islamic finance.
* Undertook clear and informed analysis of an applicant's business and quality of its corporate governance, compliance and anti money laundering, and internal control/audit environment.
* Made sound and timely recommendations to the Authorisation Approvals Committee based on an assessment of risks posed to the DFSA objectives.

1998 - Jan 2003 Financial Services Authority UK
Policy Associate
Researched, analysed and developed the investor protection standards relating to business conduct in the securities and derivatives markets. Prepared papers for senior management and Board approval, and discussion/consultation papers for public consultation. Highlights and achievements include:
* Initiated and managed a project on conflicts of interest and analyst research. Author of FSA Discussion Paper 15 - "Investment Research: Conflicts & Other Issues".
* Devised and implemented a regulatory regime (SFA Board Notice 585) for Energy Market Participants, which took account of developments in the energy derivatives markets.
* Prepared a guidance note (SFA Board Notice 578) on the conduct of business obligations in the LME metals derivatives market.
Supervision Associate
* Supervised and managed the relationship of a portfolio of firms in the Institutional Derivatives Sector. The range of firms included fund management firms, stockbrokers, corporate finance boutiques, investment banks and LME firms.
* Executed risk mitigation programmes. Conducted on-site inspection visits to review corporate governance, risk management and internal control structures.

1997 - 1998 Credit Suisse Financial Products UK
Regulatory Reporting Accountant

1996 - 1997 Barclays de Zoete Wedd UK
Treasury & Futures Settlements Analyst