Compliance Manager Reports to Chief Compliance Officer
- Implements, co-ordinates, and ensure that the organization adheres to regulatory requirements, by ensuring systems, processes and documentation meet requirements of governing regulations, and ensure that applicable laws, regulations, circulars, etc. are implemented in timely basis.
- Assists in the development and implementation of department policies, processes, and procedures to ensure all relevant procedural / legislative requirements are fulfilled.
- Ensures that related business policies and procedures incorporate regulatory requirements and that mitigating controls are in place to manage regulatory risks.
- Recognized participation in and impact on formulation of departmental policies, processes and procedures.
- Effective communication of policies and procedures. Identification, assessment of reporting of risks.Day-to-day Operations.
- Applies the day-to-day operations assigned for the Compliance department to ensure compliance with the established standards, and procedures, and that compliance related activities are running smoothly particularly with respect to Saudi Arabian Monetary Authority (SAMA), and other regulators.
- Smooth flow of day-to-day operations.
- Develops, reviews and update policies and procedures governing regulations to mitigate the risks applicable to AESA to ensure compliance with applicable laws, rules, regulations and Amex global Compliance requirements.
- Stays informed and abreast of regulatory environment and developments and ensures that the organization operates within those requirements and standards.
- Primarily responsible for overseeing SAMA communications, correspondences and ensure that SAMA requests, queries, follow ups and periodic submissions are made in timely basis. Also, ensure that correspondence records are retained in line with the policy and procedures.
- Conducts impact assessment for new laws, regulations, circulars, etc. in line with internal policy and procedures, and ensure timely implementation.
- Assists in conducting Monitoring and Testing on functions based on the risk posed by those.
- Coordinates with other departments and attend meetings with SAMA (if applicable) to ensure new SAMA rules, circulars or regulations are implemented in timely basis.
- Assists in projects related to Compliance and AML activities.
- Conducts ad-hoc investigations / internal reviews as requested by the Head of Department to ensure all internal controls are implemented.
- Assists in the development & implementation of a risk based compliance program in general, as per the defined lifecycle. Develops, conducts and updates Compliance self-assessment.
- Policies and Procedures are being developed, updated in timely fashion and comprehensively incorporates regulatory aspects.
- Abreast of regulatory developments and regulatory environment Proper SAMA communications, solid relation, and timely SAMA submissions.
- Impact Assessments as and when required and implementation of regulations.
- Adequate and timely reviews/ testing in line with the Monitoring and Testing program/ plan.
- Line Manager’s feedback and other departments’ feedback.
- Smooth completion of the project with line manager’s feedback Relevant stakeholders are advised of associated risks and issues are resolved in timely basis
- Risk based approach in managing compliance risks in accordance with the programs
- provides management with reasonable assurance that key controls are in place and operating in compliance with their design and intended purpose.Reporting
- Ensures regulatory annual, quarterly and other periodic reports are submitted to SAMA in timely manner.
- Provides proper reporting to the Chief Compliance Officer on a periodic and regular basis regarding violation or potential violation and/ or key compliance/AML risks.
- Maintains all reports in an orderly manner as per the Data/ Record Retention Policy and internal procedures.
- All reports are prepared in a timely and accurate manner and meet company policies and requirements.Safety, Health & Environment
- Complies with all relevant safety, quality and environmental procedures to ensure a safe and healthy work environment.
- Safe and healthy work environment.Related Assignments Performs other related duties or assignments as directed.
- Completes all related compliance mandatory course assignments as assigned by Training & Development department.
- Line manager’s feedback.
COMMUNICATIONS & WORKING RELATIONSHIPS
- Staff, superior levels and departmental managers with regards to Compliance activities, policies, procedures etc.External:
- Oversee the communication with SAMA for issues related to Compliance (as requested by Chief Compliance Officer).
- GNS Compliance (Group Compliance) team for compliance related issues.
- Finance Companies Compliance Committee (as requested by Chief Compliance officer).
QUALIFICATIONS, EXPERIENCE, SKILLS & COMPETENCIES
- Bachelor degree or equivalent, preferably in legal, Business administration or similar fields.
- At least 5 to 6 years of experience in Compliance/ AML field.
- Knowledgeable in applicable regulatory requirements (including AML/CFT)
- Familiar with applicable regulatory requirements in general
- Familiar with relevant AESA systems, policies and procedures as well as risk management principles.
- General understanding of both Issuing and Acquiring businesses
- Microsoft Office skills, in particularl Excell
- Self motivated individual with proven track record and a team player.
- Good inter-personnel skills to deal with senior management and representatives from group Compliance (GNS), SAMA and other regulatory bodies.