VP, Quality Assurance and Governance; KSA

To drive and coordinate a holistic Compliance framework across FAB KSA, encompassing both regulatory and financial crime elements. Ensure that the end-to-end framework is comprehensively deployed for FAB KSA, thereby to ensure that regulatory and financial crime risks are identified, managed, escalated and reported through a self-sustaining Compliance Program, encompassing regulatory change and control management, regulatory and financial crime risk assessments, management and business reporting, assurance activities and training delivered to business staff.

Provide superior advice to FAB KSA business lines based on inputs from KSA Compliance’s Regulatory and Financial Crime teams. Provide thought leadership and support to business senior management in order to ensure that the business acts in a safe and sound manner in terms of the regulations to which it is subject, and that staff ensure compliance with prevailing rules, regulations and best practices, as well as embedding a strong culture of compliance within the business.

To manage compliance-related matters and support the KSA Head of Compliance to ensure that compliance programs are effective.

• Manage the creation, implementation and monitoring of end-to-end Compliance framework for FAB KSA, encompassing:
• A dynamic Compliance business strategy.
• Annual Compliance Plans that properly address Compliance needs and requirements in line with applicable laws, rules and regulations.
• Strong engagement with Regulatory Compliance colleagues to provide regulatory change management, as well as regulatory intelligence and horizon-scanning.
• Sponsoring, initiation of, and engagement in key regulatory projects designed to secure ongoing compliance with laws, rules and regulations.
• Advocating key Compliance policies and ensuring that they are syndicated with business staff and embedded in key business processes as appropriate.
• Execution of independent regulatory and financial crime Compliance Risk Assessments and ensuring that businesses’ own risk and control self-assessments (RCSAs) are duly reflective of regulatory risks and controls.
• Preparation of key business and management reporting as a tool to provide KSA and Group Senior Management with visibility of crystallized and emerging regulatory and financial crime risks
• Provide superior advice to business lines, senior management and FAB KSA staff in general
• Develop a dynamic and relevant suite of reports designed to apprise Business Senior Management and Group Compliance Management of real and emerging threats to the business in terms of regulatory and financial crime risks
• Provide compliance advice to the business on regulatory developments and trends
• Provide regulatory second line of defense assurance, working with counterparts in all lines of defense to provide an end-to-end oversight mechanism, and engaging specifically with Compliance Monitoring colleagues to commission risk-based monitoring and testing reviews targeted at inherent and residual risks and vulnerabilities to the businesses
• Liaise with Head Office Compliance teams, including International Compliance, Financial Crime Compliance and Compliance Technology, Regulatory Compliance, and Compliance Assurance and Business Management, and Business Advisory Compliance specialists to ensure the KSA business is following the latest regulations and international best practice
• Maintain and build an effective relationship with the business so that effective and proactive escalation of issues is achieved and risk is managed; ensure maintenance of a dynamic issues log within the Compliance Issues Management System (CIMS) to ensure that regulatory issues, risk assessment issues, Compliance Monitoring issues, and self-identified issues are managed to timely closure.
• Assist the KSA Head of Compliance and Regional MENA Head of Compliance with other tasks and in the embedding of a superior compliance risk management culture across FAB KSA.
• Execute other duties as directed by Compliance Senior Management, including the Head of International Compliance, engaging with the KSA Heads of Regulatory Compliance, Financial Crime Compliance and Monitoring and Testing to build a collaborative and flexible approach to managing risks and adopting best practice as standard.