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Compliance Manager

Saudi Arabia

Job ID SNS-0288

Posted On
(1909 days ago)

Job type

Banking & Finance

  • Development of Regulatory Compliance Matrix (“RCM”)
  • Compliance Checklist
  • Independent Compliance check programs. RCM captures all the regulatory requirements based on which the compliance checklist is prepared for conducting self-assessments of regulatory compliance.
  • Apprising local management and staff of SAMAy & CBK regulations and other applicable laws, regulations and regulatory directives communicated by IBG management, Central Compliance
  • Division and other Group-level functions (Financial Control Division, Legal Division, Risk Management, etc.).
  • Monitoring compliance with local regulatory requirements, and applicable official Group requirements as aforesaid, by implementing the regulatory compliance framework, in co-ordination with Central Compliance Division.
  • Reporting of all regulatory non-compliance issues to GM or equivalent of the Operating Unit and “escalation” of all material issues to the Central Compliance Division and IBG management as warranted.
  • Follow-up with relevant divisions in the operating unit to address and rectify all non-compliance issues, in co-operation with the GM or the equivalent.
  • Verification of compliance with all local regulatory and internal Group requirements in relation to KYC aspects.
  • Escalation of all “suspicious” transactions reported to local government authorities SAMA to Central Compliance Division.
  • Recruit, train and manage staff capable of accomplishing responsibilities related to the compliance function.
  • Maintain awareness of trends and development in internal policies and procedures.
  • Watch the progress of other institutions regarding Compliance functions, market trends and to benchmark the progress.
  • Ensure that all Compliance policies and Code of Conduct are adhered to the organization’s Code of Conduct.
  • Assists in evaluating processes with a view to ensuring compliance with regulations and improving operational standards. Assists in implementing new polices, process, bank structure and control to strengthen compliance and operational standards
  • Prepares, executes and maintains documentary records and evidence of periodic control, review on a random basis to insure compliance including timely monitoring of reports and other submissions to the regulatory authorities.
  • Establish an independent and dedicated Money Laundering Control Unit (MLCU) under The Compliance Function with sufficient authority and accountability to detect and combat money laundering and terrorist financing activities.
  • Perform independent Monitoring of market risk including counterparty limits approved bICC and coordinate with respected departments to rectify exceeded limits and report observations and exceptions to Risk Management.
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