MEACA's "The Ethical Explorer"

Dear members,

Wow, November really flew by, didn't it? It sounds like it was a whirlwind of events and excitement! Splitting the highlights into two newsletters is a brilliant move—after all, why rush through the fun when you can savor every moment? 🥳

And can you believe it? Only 24 days until Christmas! 🎄 The countdown has officially begun, and the holiday spirit is in the air. But hold on to your Santa hats, because MEACA isn't ready to wrap up the year just yet. Oh no, there's one more incredible event waiting for our members!

Please have a look at the summary of last month events organised by Middle East & Africa Compliance Association and the latest edition of "The Ethical Explorer".

First of all we would like to share with you the recently launched MEACA WhatsApp group. It is growing day by day!. Stay up to date with the latest events and news around Middle East & Africa Compliance Association. Within this group, you always will be the first one to hear about upcoming events, new job posts and further interesting news around the region.

If you did not join yet, feel free to click or scan the barcode to join the MEACA networking group.

Highlights of November

SCCE Conference

On November 7th, Dubai hosted the annual Society of Corporate Compliance and Ethics (SCCE) conference, and what an event it was! The conference was featuring an impressive lineup of guest speakers from a variety of industries. Each speaker brought their unique insights and expertise, making for a truly engaging and enlightening experience.

One of the highlights was the presentation shared by Umut Turan, CCEP-I, who discussed the risk of sponsored travels, which is a particularly relevant issue in the post-COVID era. Sergey Konov spoke about whether compliance is a strategic asset or a legal necessity. He pointed out that companies often seek a return on investment (ROI), yet there remains significant confusion about the monetary value of Compliance and how it can be measured.

Further one of our board member was talking about the mitigation of third party risks before and after onboarding. Stephan Lutz CAMS, CFE, focused on the critical issue of third-party risk management. The Foreign Corrupt Practices Act (FCPA) highlights that companies can be held liable for the wrongdoing of their third parties. He raised the question: Is Due Diligence and a written contracts enough to fulfil your supervisory obligation for third parties?

Further the board member Sabrine Mekkes was able to present Middle East & Africa Compliance Association to the audience and highlighted what acitivites we organize for our members.

Great event and we are looking forward to the Society of Corporate Compliance and Ethics (SCCE) conference in 2025!

For sure one of the Middle East & Africa Compliance Association highlights of 2024 the panel discussion featuring Richard Bistrong, Ronald Machen, John Torres and Elvis Angyiembe.

A dream comes true. Elvis Angyiembe had the unique opportunity to moderate this incredible panel and ask question around Richard Bistrong life story and how his previous sales job gone wrong. Ronald Machen pointed out several times that he never prosecuted a more cooperative person in his career and that he was happy to see how Richard turned around his life after.

The panellist continuously pointed out the importance of a Compliance Management System and the role of the Compliance Officer within the company. Taking critical decision under pressure but respecting Compliance rules is not easy and therefore a key function within each entity.

Everyone who came down and hoped for a "clash in the desert" or a "rumble in Dubai" 😊 between Ronald and Richard got disappointed but it was for sure the most interesting and engaging panel of the year.

Hope many of you attended the event!

The Ethics Corner

Ask the Ethics Guy! By Bruce Weinstein, Ph.D.

Another great article by Dr. Bruce Weinstein, The Ethics Guy®.

How to Avoid Spreading Misinformation with AI

AI can be a powerful ally or a risky gamble, depending on how you use it. If

you’re relying on AI for research, taking shortcuts can backfire—and cost

you your credibility. To avoid AI misinformation, follow these two essential

steps:

1. Ask for references.

2. Verify those references yourself.

Click here to read why these steps are critical.

Stories from our members

Our member Jacquelyn Pruet had the great opportunity to get inteviewed by Bill Coffin for his phenomenal series hashtag#Ethicast (for Ethisphere ). One point she made within the video was that you cannot effect change without the support of your leadership. In that spirit she took a moment to acknowledge some of the phenomenal leaders from her past who educated, enabled, and empowered her.

Please check out the whole video here.

Upcoming Events

We have one last event for you in 2024

U.S. DOJ Guidance on Compliance Programs

Date: December 12th, 2024

Duration: 7:00 PM - 10:30 PM

Location: The Lana - Dorchester Collection, Marasi Drive, Business Bay, Dubai

Register: here

Free Drinks and snacks are provided at this incredible location!

In case you are interested to organize a Compliance Event together with MEACA, please reach out to Tomell deSilva Ceasar and Elvis Angyiembe.

Job Openings

Senior-level Financial Crime professionals looking to relocate to the UAE

Conor Lees is currently supporting a top-tier Private Equity firm in hiring for a VP - Financial Crime position in which they are specifically looking for a strong compliance professional with direct experience in the UK, wider European, or Singapore markets.

The company is a hugely impressive global PE firm with a large base in the heart of Abu Dhabi's Financial Centre, ADGM. They have hired some of the very best talent from the global talent pool and are now looking to bring in a senior-level expert to lead all aspects of AML/Investment Due Diligence/KYC/System Surveillance.

On offer is an extremely lucrative tax-free package, as well as additional allowances and relocation support. If you fit the above description and would be interested to discuss further, please reach out to conorlees@michaelpage.ae.

Head of Compliance - Asset Management - ADGM, Abu Dhabi

Conor Lees exclusively partnering with one of the region's largest and most recognizable Asset Management firms to support them in hiring for a senior compliance professional to lead their compliance function out of their office in ADGM.

The firm is a multi-billion $ global alternative asset manager with multiple offices located in the key global financial centres. Due to continued investment and growth in their Abu Dhabi office, they are looking to further build out their compliance function and have a dedicated compliance leader based out of the ADGM.

On offer is an excellent salary and market-leading benefits package as well as a flexible working policy. To be considered for this role, you should have 5-7+ years experience operating in an authorized position within either ADGM or the DIFC, as well as experience within Asset Management. If you are interested to discuss further, please contact conorlees@michaelpage.ae.

Thank you to everyone for reading The Ethical Explorer, we hope you liked one of the topics.

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Further visit our LinkedIn page or website to stay up to date about upcoming events and exciting career opportunities. Become a member of MEACA and share best practice with other members or just join our events for some interesting compliance insights. Click here to become a member or just contact us under stephan@me-aca.com.