We are looking for a Compliance Officer in Saudi Arabia to join our global team. This role will play a crucial role in banking relationships as well as with internal reports.
What I will be doing ?
KYC Onboarding:
Oversee and manage the Know Your Customer (KYC) onboarding process for new customers and update existing ones in Saudi Arabia
Ensure compliance with local and international regulatory requirements related to customer identification and verification.
Transaction Monitoring:
Implement and enhance transaction monitoring systems to detect and report suspicious activities within the Saudi Arabian context.
Conduct periodic reviews and assessments to ensure the effectiveness of transaction monitoring processes.
AML/CFT Compliance:
Serve as the primary point of contact for AML/CFT matters in Saudi Arabia
Possess in-depth knowledge of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations in Saudi Arabia
Develop and enforce AML/CFT policies and procedures tailored to the Saudi Arabian regulatory environment.
Regulatory Compliance:
Stay abreast of the regulatory landscape governing the payments industry in Saudi Arabia
Interpret and communicate regulatory changes, especially those related to AML/CFT requirements, to relevant stakeholders within the organisation.
Establish and maintain strong relationships with regulators in Saudi Arabia
Remittance Compliance:
Develop and implement compliance procedures specific to remittances and cross-border payments in Saudi Arabia.
Ensure adherence to regulatory requirements governing remittance services in the Saudi Arabian market.
Risk Assessments:
Conduct regular risk assessments to identify and mitigate potential compliance risks within the Saudi Arabian context.
Collaborate with other departments to implement risk mitigation strategies.
Reporting:
Report findings and other compliance matters related to AML/CFT to different stakeholders in Saudi Arabia in a clear and understandable manner.
Ensure timely and accurate reporting to internal and external stakeholders as required by Saudi Arabia regulations.
Training and Awareness:
Provide training to staff on compliance policies, procedures, and regulatory requirements, with a specific focus on AML/CFT in the Saudi Arabia market.
Foster a culture of compliance awareness within the organisation.
What skills and qualifications do I need?
Bachelor's degree in a relevant field; additional certifications (e.g., CAMS, ACAMS, ICA) are a must.
4-6 years of legal experience in consultancy firms, AML, Transaction Monitoring, and KYC within the banking or fintech sector
Proven experience in a compliance role within the financial services industry, with a focus on payments and remittances.
Hands-on experience in building or implementing compliance-related automations (e.g., workflows, alerts, reporting systems)
In-depth knowledge of KYC processes, transaction monitoring, and AML/CFT regulations in Saudi Arabia
Familiarity with Saudi Arabian regulatory frameworks for the payments industry.
Experience in engaging with regulators in Saudi Arabia and maintaining positive relationships.
