JOB PURPOSE / ROLE:
Provides regulatory advice and compliance support to the division as part of Compliance Culture & Advisory. The scope of activities to be conducted covers circular implementation and regulatory compliance related assessments, interpretation of regulatory requirements and policy & procedure reviews, and training & awareness to facilitate a compliance culture within the bank.
JOB RESPONSIBILITY:
Policies, Processes & Procedures - Develops approved departmental policies, processes, procedures and to subordinates directs the implementation of procedures and controls that work is carried out in a controlled manner, so that all relevant procedural/legislative requirements are fulfilled while delivering a quality, cost-effective service to customers
- Circulars Implementation and Assessment Section - Communicate, interpretate, and gap analyze of SAMA circulars related to the division, ensuring timely and effective implementation across the bank.
- Support the Head of Compliance Culture & Advisory Section in informing the CCO/CEO/Senior Management on key SAMA circulars.
- Review change requests to assess alignment with regulations and identify potential compliance risks, including those related to new or amended products, services, and outsourcing arrangements
- Provide regulatory compliance inputs into risk assessments for products and services, outsourcing contracts, and change requests, and ensure outsourcing contracts, products and services, and changes comply with applicable regulatory requirements.
- Provide guidance on obtaining SAMA Non-Objection and support submissions for new product launches, material changes, or third-party outsourcing in coordination with the division.
- Provide regulatory compliance advice and the review of inquiries, marketing campaigns, and specific transactions as required in the account opening rules for the division, ensuring alignment with laws, regulations, and where applicable, support the submission of obtaining SAMA non-objection.
- Review new or updated SAMA regulations and assess the level of compliance across division processes. Coordinate with the Division to address gaps and implement necessary actions, including updates to policies and procedures
Minimum Qualifications:
- Bachelor's degree in Law, Finance, Business Administration or any other relevant field.
- Desirable: Certification in Compliance, such as CCEP (Certified Compliance & Ethics Professional) and CCO (Certified Compliance Officer).
Minimum Experience:
- 4-6 years of relevant experience in Regulatory Compliance
Language:
Arabic / English: Advanced.
