Global Compliance Leader & MLRO

First Abu Dhabi Bank (FAB); Riyadh; On-site; SAR 420,000 - 650,000; Full time

Job summary

FAB Capital is seeking a Chief Compliance Officer to lead the bank's regional and international compliance program, ensuring adherence to laws, policies, and best practices across FAB Capital's operations.

The role requires advising the Board and senior management on all compliance matters, developing a robust risk-based program, and coordinating with Group Head Office to maintain effective controls and reporting.

Qualifications

• Relevant professional qualifications in Compliance.
• Good knowledge of regulator roles and regulatory requirements.
• Ability to work independently and objectively.

Responsibilities

• Advise the Board of Directors, Senior Management and line of Business on all Compliance matters.
• Advise the Board of Directors, senior management and business on compliance laws, rules and standards on a country, region and international level.
• Keeping the Board of Directors, senior management and business informed about any recent changes to regulations/laws.
• Establish a Compliance program for FAB Capital including a reporting and governance framework.
• Establish a compliance program based on the risk profile of FAB.
• The program shall define the role and responsibilities of the board of directors, the senior management and all employees with respect to AML / CFT risks.
• Providing guidance and educating staff.
• Assist senior management in educating staff on compliance management and develop a training program.
• Train employees and enhance their understanding of Due Diligence, KYC principles, money laundering and terrorist financing risks, trends and preventive methods.
• Establish policies and procedures, compliance manuals, internal codes of conduct and practice guidelines.
• Identifying, measuring and assessing Compliance risks.
• Identify, document and assess compliance risks faced by FAB Capital.
• Measure compliance risks posed by all departments and lines of business of the entity.
• Assess the appropriateness of FAB’s compliance procedures and guidelines.
• Follow-up on any identified deficiencies and formulate proposals for remediation.
• Adequately manage conflicts of interest and Chinese walls.
• Compliance monitoring, testing and reporting.
• Perform sufficient and representative compliance testing to monitor, test and submit reports on quality and appropriateness of controls in place to manage risk.
• Identify and assess the main compliance risks facing the entity and develop corrective plans in case of any shortcomings.
• Report the outcome of the compliance testing to stakeholders as per the FAB’s policy and local regulations.
• The Head of Compliance should report to local Senior Management and FAB Head Office on a regular basis to discuss FAB’s compliance risk profile and present compliance reports.
• If required, reporting all AML concerns to the local MRLO for analysis and potential reporting of STR’s to the local Financial Intelligence Unit.
• Assisting in development of new products and new business practices.
• Review all new product/instrument from a regulatory compliance perspective.
• Ensure any compliance risk posed by the development of new products or changes in business practice is captured and mitigated.
• Assist senior management in opening new business units/branches/offices in new jurisdictions.
• Raise concerns with appropriate business units, committees and head office in case of high risk of non-compliance.
• Manage and resolve all Compliance related findings from Regulatory and Internal Audit reviews.
• Statutory responsibilities and liaison.
• Perform statutory duties as required by the relevant regulators.
• Liaise with external stakeholders such as regulators. Manage regulatory inspections.
• Provide adequate and timely key information metrics to both local management and Head Office Compliance in UAE.
• Keep abreast of related rules, regulations and best practices pertaining to FAB Capital, assess its impact on the Company, and update the business functions to take the necessary steps accordingly.
• Execute other Compliance related duties as directed by local management or FAB Head Office.
• Complete all training and other request in a timely manner.
• Perform the role of nominated Money Laundering Reporting Officer for FAB Capital, a role regulated by the Saudi Capital Markets Authority.
• Manage the creation, implementation and monitoring of a Financial Crime Compliance framework pertaining to FAB Capital, and with respect to the business lines seeking to do business through the entity, working with Group Financial Crime Compliance to ensure application of the Group Program and consistency with Group Policy
• Act as nominated Money Laundering Reporting Officer (MLRO) for FAB Capital, ensuring that the specific Financial Crime Compliance, Counter-Terrorist Financing and Anti-Money Laundering precepts of the Saudi regulatory authorities and CMA in particular are met, and that all regulated activities within the MLRO role are undertaken
• Build and maintain productive relationships with partners across FAB, especially with respect to the FAB MLRO and Group Financial Crime Compliance team, to ensure the adoption of Group best practices within FAB Capital and at all levels of the organization
• Monitor global, regional and local financial crime compliance trends and themes, and advise business management with a view to building best-in-class financial crime prevention capabilities
• Advise on the rollout and implementation of Group-wide Financial Crime Compliance policies and procedures, developing bespoke policies for FAB Capital as required.

Job description

FAB Capital is seeking a Chief Compliance Officer to lead the bank's regional and international compliance program, ensuring adherence to laws, policies, and best practices across FAB Capital's operations.

The role requires advising the Board and senior management on all compliance matters, developing a robust risk-based program, and coordinating with Group Head Office to maintain effective controls and reporting.