Head Of Compliance - KSA
Full-time
Company Description
Our main aim in starting our business in the Kingdom of Saudi Arabia is to encourage and facilitate trading between Iraq and Saudi Arabia in light of the increasing growth of exports between the two countries. This will give the bank an opportunity to expand the scope of services it provides to the clients in the corporate sector located in Jordan, Iraq, the UAE, and Saudi Arabia by directly providing them with commercial services and all banking services and facilities. The National Bank of Iraq will also be given the opportunity to increase its market share from the total commercial transactions between Saudi Arabia and Iraq, by providing services to strategic corporate clients and facilitating their commercial transactions. The bank will also be able to cover the untapped sectors of the Saudi trade market. It is worth noting that the bank has signed important agreements to finance trade between Iraq and Saudi Arabia; the most important among them is the financing agreement signed with the Saudi Fund for Development (SFD), in which the Saudi fund has granted credit ceilings through which financial facilities are granted to Iraqi investors wishing to import products and services from Saudi companies. The Bank and Capital Bank also signed a credit ceiling agreement with the Saudi Exim Bank with the aim of supporting importers of Saudi goods and products in Jordan and Iraq.
Services and financing solutions provided by the bank’s branch in the Kingdom of Saudi Arabia:
Remittance services inside and outside Saudi Arabia Issued and received letters of credit Issuance of letters of guarantee Direct financial facilities with short-term financing Corporate Fixed Deposit Accounts
Job Description
Position Overview:
The Head of Compliance in KSA is responsible for managing and directing activities related to compliance, anti-money laundering (AML), and counter-terrorism financing (CTF). This role ensures adherence to all applicable laws, regulations, and internal policies, while providing guidance and oversight to maintain effective compliance programs.
Key Responsibilities:
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Regulatory Compliance: Ensure the organization complies with local and international laws, regulations, and directives related to AML and CTF.
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Policy Development: Develop and implement compliance policies and procedures that align with best practices and regulatory requirements.
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Risk Assessment: Identify, assess, and mitigate compliance risks; conduct regular audits and assessments of compliance programs.
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Training and Awareness: Design and deliver training programs to enhance staff awareness and understanding of compliance issues and regulations.
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Monitoring and Reporting: Monitor compliance activities and prepare reports for the Board of Directors, highlighting key issues and recommendations.
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Liaison with Authorities: Serve as the primary point of contact for regulatory authorities; respond to inquiries and participate in regulatory examinations.
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Advisory Role: Provide advice and guidance to senior management on compliance matters, ensuring that business practices align with regulatory expectations.
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Continuous Improvement: Stay updated on changes in laws and regulations; recommend improvements to compliance practices as needed.
Qualifications
Education: Bachelor’s degree in Law, Finance, Business Administration, or a related field; advanced degree or certifications (e.g., CAMS, ICA) preferred.
Experience: Minimum of 7-10 years of experience in compliance, risk management, or a related field, with a focus on AML/CTF in the financial services sector.
Knowledge: In-depth understanding of local and international regulatory frameworks, particularly in KSA.
Skills: Strong analytical, communication, and interpersonal skills; ability to lead and influence across various levels of the organization.
Additional Information
Job Location
