Overview
Head of Compliance, KSA Branch/Saudized Jobs in Riyadh, Saudi Arabia at First Abu Dhabi Bank (FAB)
Head of Compliance, KSA Branch (Saudized Role)
The Head of Compliance KSA (HoC) will head the Compliance department for FAB KSA Branch and be responsible for all compliance and financial crime compliance matters in the Branch. The HoC will ensure that the activities and businesses of KSA Branch are carried out in compliance with local laws, rules and regulations. The HoC will be responsible for managing regulatory interactions with the Saudi Central Bank (SAMA) and other relevant regulators and authorities.
This role is designated for a Saudi National.
KEY ACCOUNTABILITIES:
Delivery and the ongoing management of a strong Compliance and Financial Crime Risk Management framework and program for FAB KSA.
To provide periodic, regular and accurate reports to theSenior Management, including local Management and governance committees, and with FAB Head Office, notably to the Head of International Compliance, and if necessary, the Board of Directors, on regulatory and compliance matters, AML and CFT matters. These shall include updates to legislation and regulations and steps taken to comply, raising significant regulatory matters, concerns or breaches of regulations, superior business advice and suggested ways to mitigate and manage these risks, and the outcomes of Compliance Assurance activity, including testing and monitoring.
Maintain strong working relationships with country management, and the KSA CEO in particular, to better assist businesses in providing improvements to business controls; ensuring that adequate escalation of issues is achieved to minimize and mitigate risk.
Assume responsibility for the deployment and implementation of the Group Compliance Program, encompassing all regulatory and financial crime-related risks.
Provide oversight withrespectto:
New and emerging regulations
Heightened regulatory risks and industry trends
Risk and control assessment outputs and residual risks
Assurance activities, including monitoring and testing
Reporting to businesses, governance boards, and regulators on key regulatory risks and developments
To ensure that the FAB KSA is complying with the applicable local laws and regulations by providing advice to business and oversight, and advising the business on the gaps identified with the recommendations to fill in these gaps.
To help in delivering a Compliance Training Programme consisting of suitable training activities that educates and encourages the Bank’s Management and Staff to operate in compliance with relevant laws and regulations, and to build a culture of Compliance and awareness amongst the Bank’s Management and staff.
To act as the main point of contact for the Bank with the Saudi Central Bank (SAMA), and other relevant statutory bodies, dealing with their formal and informal requests for information, complaints handling, and other communications matters, and to assist the Bank’sSenior Managementin maintaining a good and proactive relationship.
Design controls and review them periodically to ensure compliance with regulatory requirements and best practices.
To escalate high risk regulatory issues/topics and breaches and report to the management and group Compliance on a regular and proactive basis, reporting risk on an anticipatory basis.
To implement to compliance role as 2nd line of defence by monitoring, advising, guiding the business to conduct their business safely.
To implement adequate governance through local manageme…
Title: Head of Compliance, KSA Branch/Saudized
Company: First Abu Dhabi Bank (FAB)
Location: Riyadh, Saudi Arabia
Category: Finance & Banking, Management
