Head of Compliance & AML

Job description / Role

Objectives:
- Identify and assess the non-Compliance risk, monitor and report non-Compliance issues that may expose an organization to legal and administrative penalties, financial loss or undermine reputation due to failure to comply with the applicable laws and regulations, policies, code of conduct and standard business practices.

Main responsibilities:
- Set and monitor Compliance & AML Program.
- Identify areas of business where there is risk of non-compliance.
- Oversee Compliance with laws and regulations.
- Plan communication and training programs to help employees understand compliance, AML, Code of Conduct, data confidentiality…etc.
- Maintain records of compliance activities, including any complaints or investigation or reports.
- Act as the main point of contact between regulatory bodies and SOLC.
- Renew SOLC’s SAMA license.
- Monitor the validity of SOLC’s CRs & Licenses.
- Ensure that employees are in compliance with applicable laws and regulations.
- Develop policies and programs that encourage SOLC’s managers & employees to report suspected & unethical activities and other improprieties without fear of retaliation.
- Analyze new procedures, policies and operations, and recommended procedures to address relevant compliance risks.
- Review compliance-related complaints and prepare written instructions for employees, when necessary.
- Set internal policies and procedures to combat financial crimes, such as money laundering and terrorism financing.
- Monitor compliance with money laundering and terrorism financing laws, regulations, and rules.
- Promote awareness of compliance issues and train employees on compliance-related matters through periodic programs.
- Report promptly any irregularities or violations to SAMA, audit committee, and management
- Consolidate relation with regulatory bodies
- Identify and manage all compliance risks and monitor developments
- Follow a risk – based compliance program and include its findings in the report referred to in Article 44 of this Regulation
- Reviewing the result of the regulatory bodies’ reports and verifying the necessary measures taken by the company.
- Verifying the company’s compliance with relevant laws, regulations, policies and instructions.
- Reviewing the proposed contracts and transactions that will be done by the company with relevant parties and submit their views to the Board of Directors.
- Submitting issues and recommendations considered necessary to be taken to the Board of Directors
- Manage Cyber Security to:
- Ensure that appropriate Cyber Security controls are available to secure the system from unauthorized access;
- Select the appropriate Cyber Security controls that should be evaluated and decided in conjunction with the Cyber Security Manager;
- Identify data to be backed up and the IT Head should approve it.
- Ensure that adequate and approved procedures are in place for the data backup.
- Provide at least one personnel who will co-ordinate with the Cyber Security team for creating/maintaining the system procedures with in their department and also take part in the incident response process.
- Be the owner of the procedures developed for the systems within the department.
- Responsible for monitoring fraud in the work and shall report any suspicious cases of fraud immediately by using the suspicion form attached in the Circular send by the Compliance Department on 10-Apr-2018.
- Reporting to: CEO
- Number required: 1
- Probation: 90 dyas

Requirements

University Qualifications:
- Bachelor Degree Law , Business Administration , finance etc.
- Other certifications obtained:
- CCO and other professional training in compliance , AML

Nature and length of previous experience:
- 10 Years

Specialist knowledge:
- SAMA rules and regulations

Soft Skills and Personality traits:
- Creative Thinking.
- Decision Making.
- Conflict Management.
- Stress Management.
- Problem solving

Nationality Preference:
- Saudi

Language Fluency:
- English and Arabic

Current Location:
- Riyadh - Saudi Arabia

About the Company

YANAL is a Leading Finance Company in the Kingdom of Saudi Arabia.

We offer one of the best and most-competitive financial services with our superior market knowledge and unmatched financial services expertise. Moreover, YANAL is backed by some of the most reputable local and international partners.