Head of Compliance (JAP Client)

J. Awan & Partners; Riyadh; On-site; USD 80,000 - 120,000; Full time

Job summary

A leading banking firm is seeking a Head of Compliance to oversee compliance with regulatory requirements and ensure a robust compliance culture. The ideal candidate will have substantial experience in compliance roles, particularly with investment products, coupled with strong communication skills in English and Arabic, and a solid understanding of regulatory procedures.

Qualifications

• 8 years+ experience in Compliance or closely related function.
• Knowledge of CMA objectives/principles for business.
• Excellent verbal and written communication skills in English and Arabic.

Responsibilities

• Monitor compliance with CMA regulations and internal policies.
• Oversee AML, CFT, and KYC activities.
• Work with senior management for regulatory guidance.

Skills

Compliance

Regulatory Guidance

Analytical Skills

Interpersonal Skills

Problem Solving

Education

Bachelor's degree in banking finance or accounting

ACAMs certification

Tools

MS Office

Job description

Job Purpose
The role holder is responsible for monitoring the Firm s compliance with the requirements and regulations of Capital Markets Authority (CMA) including those of international regulators and the Group s internal policies and procedures. Support the development of a strong and consistent compliance culture across all areas of the Firm s operations.

Duties and responsibilities
Your specific duties and responsibilities will include:
Support the Firm s line of business and focus on the development of new products and platforms, providing regulatory guidance and executing on deliverables to ensure compliance with regulatory requirements.
Document, track and follow-up on the development of new projects, collaborating and coordinating across different Line of Business, Group Compliance and Legal department.
Overseeing all AML, CFT and KYC activities and compliance with CMA s Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) Rules.
Ensuring compliance with all Islamic Banking activities, Sharia a principals, labour and commercial law.
Develop and conduct in-house AML, CFT and KYC training courses.
Provide compliance advice and regulatory guidance to senior management across the Group, liaising where appropriate over regulatory inspections/investigations, interpretation of applicable rules, amendments to the existing rules.
Implement key regulatory guidelines such as Corporate Governance, Disclosure Standards, Annual Reports, Insider Trading, etc.
Act as the Firm s prime point of contact in respect of handling internal suspicious transaction reports from staff members, as well as a prime contact for the Financial Intelligence Unit (FIU) of Saudi Arabia, the CMA and any other concerned bodies regarding AML.
Undertake compliance monitoring and surveillance tasks.
Ensure compliance with CMA rules and regulations including dealing with breaches.
Monitor and co-ordinate responses to proposed regulatory changes and consultation papers issued by CMA.
Review management information including information provided by Internal Audit Reports,
departmental self-assessments, complaints, errors and omissions.
Assist in identifying operational and regulatory risks.
Develop policies and guidance to ensure the Firm meets its regulatory requirements and effectively disseminate compliance bulletins and produce summaries.
Assist other compliance and internal audit team members where necessary.
Manage compliance matters related to regulators and relevant authorities.
Handling correspondence related matters with all relevant regulators and authorities.
Review investment progress reports and Private Placement Memorandums (PPM).
Review the PPM and other investment documentation for the process of obtaining CMA approvals.
Review of KYCs, transaction monitoring, and financial crime related correspondence.
Reporting of CRS and FATCA to Saudi Authorities in coordination to Group s FATCA/CRS function.
Reviewing and updating the relevant compliance policies.
Support the Group compliance with ad hoc initiatives as required.
Take into consideration and incorporate Enterprise-wide Compliance initiatives.
Keep abreast of changes to regulatory and legislative rules and principles including attending lectures, seminars and training courses (where necessary).
Conduct other duties and special project as required by the General Manager of GCSA and Group Compliance.
Skills and Experience
Bachelor s degree in banking finance or accounting from a reputable higher education institute.
Preferably have ACAMs certification.
8 years+ experience in increasingly responsible positions in Compliance or closely related function with exposure to Investment products control or administration.
Knowledge and understanding of CMA objectives/principles for business.
Knowledge and understanding of the Islamic Sharia a Principals.
Good understanding of legal/regulatory procedures, specifically CMA Law and manuals.
A strong Compliance background and the ability to work with and generate complex spreadsheets and other analytical tools.
Comfortable and mature in dealing with professional staff, business unit heads, traders, senior
management and clients.
Proficient in MS Office (Excel, PowerPoint, Word, Outlook, Explorer, Project).
Superb interpersonal skills with the ability to instill confidence and build collaborative work
relationships.
Excellent verbal and written communication skills in both English and Arabic.
Strong organizational and problem-solving skills; able to manage priorities, workflow and own time; strong interpersonal skills.
Ability to deal effectively with a diversity of individuals at all organizational levels.
Direct experience in dealing with regulatory authorities such as the CMA.

Company Industry

• Banking
• Broking

Department / Functional Area

• Finance
• Treasury

Keywords

• Head Of Compliance (JAP Client)

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