Head of Compliance

Overview

Job :

Head of Compliance Location :

Riyadh - KSA Industry :

Banking Job Objective :

To provide administrative and executive oversight of compliance activities and related units, and implement plans approved by the Executive Director of the Compliance Department / Head Office. This includes preparing, developing, and enforcing compliance procedures and policies, addressing customer complaints, and ensuring the bank’s adherence to applicable laws and regulations in Saudi Arabia at all times. Responsibilities also include ensuring alignment with international standards and agreements to mitigate risks and prevent financial or reputational losses, maintaining alignment between Saudi regulations and those issued by Jordanian regulatory bodies, and reporting conflicts or updates to the Executive Director and the CEO – Saudi Branches. The role also supervises Anti-Money Laundering (AML) and financial crime-related activities. Key Responsibilities

Participate in setting annual compliance goals for Saudi branches, aligned with Head Office, and provide regular updates. Set goals for team members, supervise staff work, evaluate performance, and support professional development. Monitor compliance with Saudi Central Bank policies, regulations, and legal requirements, and ensure no conflict with Jordan’s regulations. Report any conflict immediately. Review the Code of Conduct and ensure adherence. Evaluate compliance procedures for new product launches, mitigate regulatory and reputational risks, and support sound governance. Oversee issuance of internal circulars and guidance based on operational updates, in coordination with direct supervisor. Develop / update the Compliance Program to ensure adherence to regulatory requirements; submit for board-level approval. Conduct regular compliance reviews and assess control measures; report findings and recommendations. Maintain disclosure matrices, ensure timely reporting, and update disclosure manuals. Respond to branch and department inquiries, offering guidance on compliance matters. Review correspondence with Saudi Central Bank and ensure proper authority and format in all regulatory communications. Respond to non-standard client letters, suggest standardized templates, and coordinate approvals. Review internal systems and procedures for compliance with all relevant regulations. Monitor updates from regulators, including IRS / CRS directives, and incorporate into procedures. Evaluate non-compliance incidents, identify root causes, and recommend improvements. Participate in operational risk workshops and recommend control enhancements. Ensure accurate data collection and reporting for FFI / CRS / IRS requirements; monitor certification collection from relevant staff. Review and assess compliance risk files and conduct routine control testing. Promptly notify the Executive Director / Compliance Committee of any significant failures or violations. Prepare periodic compliance reports for executive review and board-level reporting. Oversee the Implementation Section to ensure prompt regulatory response and data accuracy. Supervise the Self-Monitoring Unit and ensure adherence to updated self-monitoring policies. Review internal / external audit and regulatory reports, address noted issues, and prevent recurrence. Ensure daily operations are conducted per approved policies and delegated authorities. Provide support on FATCA and CRS compliance inquiries. Skills & Qualifications

Bachelor’s degree in business, banking, or related field Minimum 10 years of banking experience, including 5 years in a managerial role Holds a relevant professional certification per Saudi Central Bank requirements Proficiency in written and spoken English Strong supervisory and administrative skills In-depth knowledge of banking regulations, products, operations, and risks Familiarity with Saudi Central Bank laws and systems Strong decision-making, analytical, planning, and problem-solving skills Ability to work under pressure and in a team

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