Compliance Manager

Full Job Description

The Compliance Manager ensures that the financial institution complies with all laws, regulations, publications, professional, and ethical standards issued by the competent authorities, the Financial Company's Management, and the regulatory authorities in the country and makes recommendations regarding the necessary procedures.

Roles and Responsibilities:

• Prepare the compliance policy and procedures that include all the institution's activities, related systems, controls, and make proposals for any necessary changes.
• Examine the reports of the external auditor and the inspection reports of the Saudi Arabian Monetary Agency.
• Identify and evaluate the risks associated with the company's activities.
• Review the company's updated policies and procedures to ensure their compliance with applicable laws, regulations, and publications.
• Ensure adherence to the approved compliance policy and review it periodically.
• Work to spread Compliance culture in the company, and raise awareness of Compliance importance.
• Submit periodic reports to the Board of Directors and the Executive Management regarding the Compliance Department.
• Ensure that all written and approved policies and procedures of the company are consistent with the applicable compliance rules.
• Ensure receipt of all laws, regulations and circulars issued by the supervisory authorities and follow up on all company departments in their implementation.
• Send responses to the supervisory authorities on the circulars and letters.
• Follow-up and respond to complaints received by the company.
• Prepare policies and procedures for anti-money laundering and combating terrorist financing.
• Review the company's management reports sent to the regulatory authorities.
• Update compliance policies and procedures.
• Review and approve all existing and new products to ensure compliance with regulatory requirements.
• Identify and deal with all compliance risks and monitor their evolvement.
• Understand the rules and regulations related to corporate governance in the Kingdom of Saudi Arabia.

Requirements and Qualifications:

• Bachelor's degree in a major related to compliance.
• Certified Compliance Officer (CCO).
• Experience: 3+ years in the banking sector or financial institutions in compliance management, control, review, evaluation, and preparation and implementation of policies and procedures.
• To be familiar with all relevant local and international laws, regulations, publications, and standards.
• Full knowledge of and keeping pace with anti-money laundering and combating terrorist financing mechanisms.
• Effective planning.
• Forecasting and observational skills.
• Ability to formulate and set goals.
• Take responsibility and face the consequences of the decision firmly.