Overview
AML & Compliance Manager Jobs in Riyadh, Saudi Arabia at Trivers
Title: AML & Compliance Manager
Company: Trivers
Location: Riyadh, Saudi Arabia
AML/Compliance ManagerA key senior member of the team, who will develop, implement, and manage our compliance and risk management programs, with particular emphasis on AML, Fraud Prevention, and SAMA's regulatory requirements.Key Responsibilities:1. Develop and Implement Compliance Programs:o Create and maintain a comprehensive compliance and AML framework aligned with global best practices and SAMA’s regulatory requirements.o Ensure full adherence to KYC/AML guidelines, keeping company ahead of compliance challenges.2. KYC/AML Compliance Oversight:o Oversee client onboarding, transaction monitoring, and ongoing compliance checks.o Ensure the integrity of KYC/AML processes and lead continuous improvements across the organization.3. Transaction Monitoring:o Establish and enhance transaction monitoring systems to detect and report suspicious activities, including large or unusual transactions.o Ensure compliance with AML and SAMA standards.4. Risk Identification and Escalation: o Collaborate with internal stakeholders to assess risks related to client onboarding, transaction monitoring, and compliance processes.o Escalate potential compliance risks for timely intervention.5. Data Management and Integrity:o Ensure accurate collection, documentation, and maintenance of KYC/AML data (both electronic and physical) in compliance with regulatory standards.6. SAMA Liaison for AML Requirements:o Act as the primary liaison with SAMA, handling AML-related inquiries, fulfilling reporting obligations, and ensuring compliance with any updates.7. Collaboration and Relationship Building:o Work closely with internal teams (testing, risk, and remediation) to enhance compliance processes and improve fraud detection capabilities.8. AML Systems and Controls: o Assist in refining AML systems and internal controls to support compliance with AML/CFT regulations and SAMA directives.9. Regular Risk Assessments: o Conduct periodic risk assessments to identify vulnerabilities and ensure company policies remain aligned with evolving risks.10. Employee Training and Guidance:o Develop and deliver training programs to educate employees on compliance, AML requirements, transaction monitoring, and fraud prevention.11. Regulatory Monitoring and Reporting:o Stay informed about regulatory changes, especially from SAMA, and update compliance programs accordingly. o Ensure timely submission of regulatory reports and Suspicious Activity Reports (SARs).12. Money Laundering Reporting Officer (MLRO):o Serve as the MLRO, responsible for reporting suspicious activities to SAMA and relevant authorities, ensuring full AML compliance.13. Fraud Prevention and Detection: o Implement fraud prevention strategies by analyzing transaction patterns and identifying suspicious activities using advanced tools.14. Audit and Regulatory Coordination: o Coordinate with external auditors and regulators, including SAMA, ensuring full transparency and compliance during inspections and audits.15. Complaint and Regulatory Inquiry Management: o Investigate and respond to customer complaints or regulatory requests related to compliance matters, ensuring swift and accurate resolutions.