About the Role
We are seeking a knowledgeable and detail-oriented Compliance & AML Specialist to ensure the company's full adherence to SAMA regulations, Anti-Money Laundering (AML) laws, and Counter-Terrorist Financing (CTF)requirements. The role involves developing, implementing, and maintaining internal compliance programs, performing ongoing risk assessments, and ensuring the company's operations, products, and partners remain compliant with all relevant regulatory frameworks.
Compliance & AML Specialist
Key Responsibilities
Regulatory Compliance
- Ensure compliance with SAMA regulatory frameworks, circulars, and guidelines relevant to fintech and payment institutions.
- Monitor and interpret changes in local and international regulations (e.g., SAMA, FATF, AML laws, KYC, CTF).
- Prepare and submit required regulatory reports and notifications to SAMA and other authorities.
- Support internal and external audits and regulatory inspections.
- Act as the primary point of contact with SAMA for compliance and AML matters.
- Ensure timely resolution of regulatory observations, violations, or audit findings.
Anti-Money Laundering (AML) / Counter-Terrorism Financing (CTF)
- Develop, maintain, and update the company's AML/CTF policies, Customer Due Diligence (CDD), and Enhanced Due Diligence (EDD) procedures.
- Monitor transactions for suspicious activity and ensure timely filing of Suspicious Transaction Reports (STRs) to the Saudi Financial Investigation Unit (SAFIU).
- Conduct ongoing AML risk assessments of customers, products, and services.
- Maintain effective transaction monitoring and screening systems aligned with SAMA and FATF recommendations.
- Oversee high-risk customer reviews and ensure appropriate EDD measures are applied.
- Ensure accurate record-keeping for AML, CDD/EDD files, and STR submissions for regulatory retrieval.
Compliance Operations
- Perform KYC reviews for onboarding and ongoing monitoring of customers.
- Support sanctions screening and name-matching processes (UN, OFAC, local lists).
- Participate in product reviews and launch assessments to ensure regulatory compliance.
- Develop and deliver compliance training to employees and relevant stakeholders.
- Assist in developing compliance dashboards, reports, and key risk indicators (KRIs) for management.
- Handle customer complaints related to compliance and ensure alignment with SAMA Customer Protection guidelines.
- Participate in new vendor onboarding and outsourcing reviews to ensure compliance with SAMA outsourcing and cybersecurity requirements.
Governance & Reporting
- Provide periodic compliance and AML reports to senior management and the Audit or Risk Committees.
- Maintain internal policies, manuals, and control frameworks, ensuring periodic updates and staff acknowledgment.
Key Competencies
- Strong ethical judgment and integrity.
- Ability to interpret and apply complex regulations to practical business operations.
- Excellent organizational and time management skills.
- Proactive, independent, and collaborative working style.
- Familiarity with fintech technologies, digital payments, and eKYC processes.
Qualifications & Experience
- Bachelor's degree in Law, Finance, Business Administration, or related field (Master's degree preferred).
- 3+ years of experience in Compliance and/or AML functions, preferably within fintech, banking, or payment services.
- In-depth understanding of SAMA regulations, AML/CTF frameworks, and FATF recommendations.
- Knowledge of Saudi AML Law and Implementing Regulations, Data Privacy, and Consumer Protection guidelines.
- Professional certifications are a plus (e.g., CAMS, ICA, CCO, Compliance Certification for Finance Sector ,or SAMA Compliance Officer certification).
- Strong analytical and investigative skills with high attention to detail.
- Excellent communication skills in Arabic and English (written and verbal).
