Compliance Officer

1 week ago

Khobar, Eastern Province, Saudi Arabia Ezdaher Financing Company Full time

We are currently looking for a Compliance Officer to be based in Al Khobar, Saudi Arabia.

This role is with our subsidiary company Ezdaher Financing Company.

Job Title: Compliance Officer

Location: Al Khobar, Saudi Arabia

Reports to: Chief Executive Officer

Job Type: Full-Time

Experience: 5+ years

Must have: Saudi National (as per local hiring requirements). Experience in Financial Services / Fintech Sector in the Kingdom of Saudi Arabia.

Shariah compliance is one of the core values of our company and our financing complies with the principles of Shariah financing.

Job Summary:

The Compliance Officer will be responsible for managing and overseeing the compliance function within the organization, with a particular focus on financial regulations and fintech compliance. This individual will work closely with various internal teams, including legal, finance, and operations, to ensure compliance with Saudi Arabian regulations, including the Saudi Arabian Monetary Authority (SAMA) guidelines, Anti-Money Laundering (AML) laws, and other local financial regulations. The ideal candidate will bring at least five years of experience in the financial services or fintech sector and will be well-versed in the regulatory landscape of Saudi Arabia.

Key Responsibilities:

  1. Regulatory Compliance Management: Ensure full compliance with all applicable financial services regulations, including but not limited to SAMA, Anti-Money Laundering (AML) and other local laws and regulations.
  2. Risk Management & Mitigation: Identify, assess, and manage compliance risks within the organization. Develop, implement, and monitor internal controls to mitigate risk in financial operations and ensure adherence to regulatory requirements.
  3. Internal Policies & Procedures: Develop and enforce company policies and procedures to ensure compliance with Saudi regulatory standards. Ensure that internal procedures are up to date with any changes in the legal or regulatory framework.
  4. Training & Awareness: Conduct regular training sessions for employees on compliance-related matters, including AML, KYC (Know Your Customer), and other financial regulations. Promote a strong compliance culture across the organization.
  5. Audit & Monitoring: Lead the internal compliance monitoring program. Perform regular audits of financial transactions, systems, and operations to ensure adherence to internal controls and regulatory requirements.
  6. Regulatory Reporting & Documentation: Prepare and submit compliance reports to relevant regulatory authorities, including SAMA and the Saudi Financial Crimes Unit. Ensure that all necessary compliance documentation is maintained and readily accessible for audits.
  7. Advisory Role: Serve as the primary point of contact for all compliance-related matters within the organization. Advise senior management and other departments on regulatory changes, compliance strategies, and risk mitigation plans.
  8. Investigation & Issue Resolution: Investigate potential compliance violations, address non-compliance incidents, and ensure timely and effective corrective actions. Report any significant compliance breaches to senior management and regulatory bodies as required.

Qualifications:

  1. Education: Bachelors degree in Finance, Business Administration, Law, or a related field. A professional certification such as CCO (Certified Compliance Officer), CAMS (Certified Anti-Money Laundering Specialist), or similar is a plus.
  2. Experience: Minimum of 5 years of experience in compliance within the banking, financial services or fintech domain. Previous experience working in Saudi Arabia's regulatory environment (including SAMA) is essential.

Knowledge:

  • In-depth understanding of Saudi Arabia's financial regulations, including SAMA rules and regulations, AML, KYC, CFT, and other applicable laws.
  • Familiarity with the fintech industry, digital payments, and innovative financial products in the region.
  • Experience in risk management, internal controls, and compliance audits in the financial sector.

What we have to offer:

  • Competitive salary and benefits package
  • Ample opportunities for growth and self-development
  • Opportunities for professional development and advancement
  • Collaborative and inclusive work environment with international exposure.

Skills:

  • Strong analytical and problem-solving skills with a keen eye for detail.
  • Excellent communication skills, both written and verbal, in both Arabic and English.
  • Proficient in compliance management software, financial systems, and Microsoft Office Suite.
  • Strong project management and organizational skills.

Personal Attributes:

  • High ethical standards and integrity, with the ability to handle sensitive information confidentially.
  • Proactive, solutions-oriented mindset with the ability to thrive in a fast-paced and dynamic environment.
  • Strong interpersonal skills with the ability to collaborate effectively with internal teams and regulatory authorities.
  • Ability to work independently and take ownership of compliance-related matters.
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