5 Regulatory Reporting jobs in Saudi Arabia

Senior Manager - Financial Crime Compliance and MLRO

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About the business area, Group Compliance & Governance:

function at ADCB which takes an active approach to risk management and monitoring, ensuring the Bank complies with applicable laws, regulations, rules and market standards. The Group creates, implements and monitors policies and procedures designed to prevent or detect financial crime and any compliance breaches of the Bank, its employees and clients. It also monitors and measures the impact of conduct risk and compliance on the Bank's risk appetite and profile.

In this role, your key responsibilities include
:

• Develop and implement regular monitoring procedures and practices in order to assess the adequacy and effectiveness of internal systems of control and measures in combatting AML/CFT
• Drive the coordination and execution of the financial crime compliance work-streams to ensure alignment with the SAMA guidelines
• Review and approve new products and services from an AML/CFT perspective to ensure any risks are identified and mitigated
• Maintain knowledge of changes in SAMA laws and regulations in order to provide guidance on proposed regulatory changes
• Assist management in developing and maintaining an effective AML/CFT compliance culture to ensure compliance with Banks guidelines
• Act as the interface between the Bank and external regulators/law enforcement on financial crime compliance customer related enquiries/investigations and oversee the provision of relevant/requested information to ensure requests for information are responded to within agreed timelines
• Engage and coordinate with SAMA on the Bank's overarching AML/CFT and Sanctions risk policies, risk assessment procedures and controls, and the risk mitigation framework, including its Customer Due Diligence (CDD) measures to ensure the quality, strength and effectiveness of the Bank's AML/CFT and Sanctions programme
• Work with senior management and other internal/external stakeholders to ensure employees are qualified, trained, equipped and aware of their responsibility to combat the threat posed by financial crimes in order to establish and maintain a strong and effective compliance culture within the Bank
• Develop an AML/CFT and Sanctions programme commensurate with the volume and nature of the business of the ADCB KSA branch and the AML/CFT and Sanctions risks it has identified in order to reduce and effectively manage these risks
• Manage the implementation and management of systems, controls, and change initiatives, identifying and developing new or improved delivery mechanisms in order to remain in line with changing legislation and expanding business
• Set and implement the financial crime risk appetite and associated metrics as well as policies and procedures for AML/CFT in order to comply with SAMA standards and also aligned to ADCB Group's standards and global best practice
• Regularly review the effectiveness of AML/CFT and Sanctions compliance policies and procedures in order to prevent money laundering and counter the financing of terrorism
• Provide client acceptance advice to business units and propose de-risking/exits in order to minimise risks associated with client on-boarding
• Develop and manage a comprehensive sanctions programme to ensure effective implementation through adequate systems and controls
• Implement systems and controls that focus on the prevention and detection of transactions related to the crimes of money laundering, the financing of terrorism and of illegal organisations, reporting suspicions to KSA FIU, and cooperating with the competent authorities to ensure the Bank is adequately protected
• Develop and update regulatory and statutory reporting programmes, such as Suspicious Activity Report (SAR), liaising with key stakeholders and third party service providers to ensure timely and accurate regulatory reporting
• Leverage data analytics and modelling techniques in order to uncover abnormal financial transactions and complex relationships
• Review and investigate all breaches, discrepancies and irregular activities and recommend corrective actions to ensure risks identified are properly mitigated for the Bank
• Report any concerns on financial transactions directly to the KSA FIU in order to advise them of any potential AML/CFT observations
• Produce a semi-annual MLRO report in order to keep the relevant parties updated on the financial crime compliance framework and its effectiveness within the Bank, present the report to the ADCB KSA branch management and Group MLRO, and submit to SAMA as required

The ideal candidate should have the following experience

• At least 6 years of experience in Banking/financial services sector in Branch, Retail or Corporate Banking with exposure to Banking transactions and supervisory responsibilities and at least of 5 years of experience in the compliance environment
• Bachelor's Degree in relevant specialisation
• Compliance or AML diploma/certification
• Knowledge of international Banking best practices and Banking data analysis platforms
• Knowledge of global AML/CFT standards such as Financial Action Task Force (FATF), Wolfsburg, Basel recommendations
• Knowledge of UAE AML and combating the financing of terrorism and illegal organisations guidelines for Financial Institutions
• Microsoft Office Suite

What we offer:

• Competitive Salary & Additionally, all employees are eligible to participate in one of our rewarding variable pay plans.
• Comprehensive Benefits Package: This includes market-leading medical insurance, group life and personal accident insurance, paid leave and leave airfare, employee preferential rates on loans and finance facilities, staff discounts and offers, and children education assistance (for certain job levels).
• Flexible and Remote Working Options: We understand the importance of work-life balance and offer flexible working arrangements, subject to eligibility and job requirements.
• Learning and Development Opportunities: We value and facilitate continuous learning and personal development through a variety of exciting learning opportunities, such as structured instructor-led courses, a comprehensive e-learning catalog, on-the-job training, and professional development programs.

At ADCB, we are dedicated to creating a respectful, caring and disciplined work environment that aligns with your career ambitions.

Overview

The Associate - Statutory Reporting & Compliance will support statutory financial reporting, tax compliance, and regulatory filings in accordance with IFRS. This role ensures accurate bank reconciliations, entity-wise ledger segregation, and adherence to financial policies while streamlining internal and external audits.

• Support statutory financial reporting, tax compliance, and regulatory filings in accordance with IFRS.
• Ensure accurate bank reconciliations and entity-wise ledger segregation.
• Adhere to financial policies and assist with internal and external audits.

• Bachelor’s degree in Accounting, Finance, or a related field.
• 0-3 years of experience in financial reporting, statutory compliance, audit coordination, or regulatory affairs.
• Strong understanding of local and international financial regulations, tax laws, and compliance frameworks.
• Fluent in English.

• Ability to enhance reporting efficiency through process optimization and system automation.
• Ability to identify financial risks, analyze complex data, and propose strategic solutions.
• Strong focus on accuracy, consistency, and compliance in financial reporting.
• Ability to work collaboratively with auditors, regulatory bodies, and internal teams.
• Advocates continuous improvement and adapts to changing conditions and priorities.
• Shows initiative and contributes to problem resolution during change.
• Communicates clearly with colleagues at all levels; maintains performance under pressure.
• Balances multiple projects and maintains required technical and professional skills.
• Demonstrates customer service orientation and professionalism in interactions with internal customers.

We are seeking an experienced
Tax & Zakat Specialist
to support our Tax Department in ensuring compliance with ZATCA regulations and deadlines. The successful candidate will play a key role in managing VAT, WHT, and Zakat compliance, preparing and reviewing tax filings, reconciling tax accounts in ERP systems, and providing advisory support on tax implications of transactions.

This role requires a highly detail-oriented professional with
solid expertise in Saudi tax regulations, ERP reporting, and stakeholder communication.

Key Responsibilities

• Prepare, review, and file
  VAT, WHT, and Zakat returns
  in compliance with ZATCA requirements.
• Reconcile VAT and WHT accounts within the ERP system (Oracle).
• Manage tax-related accounting records and ensure accuracy in tax reporting.
• Review contracts, invoices, and cross-border transactions to assess
  tax implications
  .
• Provide support and timely responses to
  tax enquiries
  from internal and external stakeholders.
• Coordinate with
  Finance, Legal, and Procurement
  departments to ensure compliance in business transactions.
• Support
  external audits
  and liaise with consultants and tax authorities when required.
• Stay updated with changes in Saudi tax regulations and apply them effectively in day-to-day operations.
• Assist in
  tax planning initiatives
  to optimize the company's tax position.

Requirements

• Bachelor's degree in Accounting, Finance, or related field.
• 4–6 years of proven experience
  in Saudi taxation, particularly VAT, WHT, and Zakat.
• Strong understanding of
  ZATCA regulations and filing processes
  .
• Hands-on experience with
  ERP systems (preferably Oracle)
  for tax reporting and reconciliation.
• Excellent knowledge of
  Saudi accounting and tax practices
  .
• Strong analytical, problem-solving, and communication skills.
• Ability to work independently and meet strict deadlines.
• Arabic native speaker
  , with strong written and verbal communication skills.
• Immediate availability is preferred.

Overview:

Sukna Capital is a dynamic financial institution specializing in alternative asset investments. We leverage data-driven insights and a technology-forward approach to drive superior returns across venture capital, private equity, debt, and real estate. Our commitment to excellence, combined with a global network of partners and experts, empowers us to unlock potential and deliver long-term value for our investors.

Position Summary:

Sukna Capital seeks a seasoned Compliance Officer and MLRO who will report directly to the Board. This role is responsible for monitoring the organization's overall compliance program, ensuring that the company meets its obligations under regulatory and statutory requirements, set forth by the Capital Market Authority (CMA) of Saudi Arabia. The role demands a deep understanding of regulatory compliance within the financial services industry and expertise in managing anti-money laundering (AML) procedures.

Key Responsibilities:

1. Regulatory Reporting and Liaison:

• Serve as the primary point of contact for all regulatory inquiries and examinations related to compliance and AML issues.
• Ensure accurate and timely reporting of compliance and AML matters to the Capital Market Authority (CMA) and other regulatory bodies as required.
• Maintain a proactive relationship with the CMA, ensuring that all regulatory reports are submitted in accordance with statutory timelines and formats.

2. Risk Management and Compliance Monitoring:

• Identify, evaluate, and report on compliance risks associated with the company's activities.
• . Implement strategic solutions to manage identified risks, ensuring they are mitigated in a timely and effective manner.
• Monitor the effectiveness of the compliance program, reporting findings and providing recommendations directly to the Board.

3. Regulatory Compliance Management:

• Develop and enhance the compliance framework to integrate with the latest regulatory developments and industry best practices.
• Continuously review and update compliance policies and procedures to align with changes in laws and regulations.
• Conduct regular compliance audits and risk assessments to ensure all areas of the business adhere to legal standards and internal policies.
• Develop compliance training materials and programs; conduct training sessions to ensure staff awareness and adherence to compliance and regulatory requirements.

4. AML Oversight:

• Act as the Money Laundering Reporting Officer (MLRO), managing all aspects of the anti-money laundering compliance program.
• Design and implement effective AML policies and controls to prevent, detect, and report potentially suspicious activities.
• Regularly review and update the AML strategy to incorporate new trends in financial crime and money laundering tactics.
• Prepare and submit timely AML reports to regulatory bodies; handle all external communications concerning AML matters.

5. Stakeholder Engagement
:

• Collaborate with internal departments to embed compliance considerations into business processes and decision-making.
• Engage and consult with external experts, including legal advisors and compliance consultants, to ensure the compliance framework remains robust and comprehensive.

Qualifications:

• Minimum of 7 years of proven experience in a compliance role within the financial services industry, with significant exposure to AML duties.
• All required CME certifications (CME-1, CME-2)
• Bachelor's degree in Finance, Economics, Business Administration, or related field; Master's degree or relevant professional certifications is preferred.
• Comprehensive knowledge of the regulatory environment in Saudi Arabia, especially regulations pertaining to the Capital Market Authority.
• Demonstrated ability to design and implement compliance and AML programs.
• Strong leadership skills with experience in managing direct reports and influencing senior management.
• Exceptional analytical and strategic thinking abilities.
• Excellent communication skills, capable of effectively managing relationships with regulators, senior executives, and team members.

Employment Type:

Full-time

Job Location:

Riyadh, Saudi