Head Of Compliance - KSA

Responsibilities

• Participates in setting the annual compliance objectives for the affiliated units/Saudi branches, approved by the Executive Director - Compliance Department / General Administration and with the CEO / Saudi Branches, and implements the annual objectives of the department approved by the Executive Director - Compliance Department / General Administration and with the CEO / Saudi Branches. Provides the Compliance Department / General Administration periodically with updates on the achievement of the planned goals.
• Sets the objectives for subordinate employees based on the approved annual plan, supervises the department’s and employees’ work administratively and operationally, ensures work is carried out with the required efficiency and accuracy, evaluates employee performance, and develops them to enhance the service level provided.
• Monitors activities related to evaluating the bank’s compliance with policies and legislations approved by the Saudi Central Bank, supervisory instructions, and other legal requirements. Ensures adherence to all regulations and laws related to banking operations in Saudi Arabia and takes appropriate actions based on evaluation results. Verifies the absence of any conflicts with instructions issued by the regulatory authorities in the home country and immediately informs the Executive Director - Compliance Department / General Administration if any conflicts arise.
• Reviews the Code of Professional Conduct, work ethics, and banking profession ethics and ensures compliance.
• Reviews and evaluates policies, procedures, work mechanisms, and recommendations regarding launching new products in coordination with concerned entities to prevent any obstacles, mitigate non-compliance risks—especially systemic risks, reputational risks, and financial penalty risks—and establishes principles of management approach and sound governance within the bank.
• Oversees the issuance of circulars and guidance manuals related to regulatory instructions for the bank’s operations to concerned parties based on work changes and updates, coordinating with the direct supervisor.
• Develops/updates compliance programs to verify the bank’s adherence to regulatory instructions and ensure compliance with all regulations and laws related to banking in Saudi Arabia. Updates this program according to developments and submits it to the direct supervisor for approval by the Compliance Committee/Board of Directors.
• Conducts periodic compliance audits based on the pre-prepared compliance program, prepares necessary verification matrices, evaluates control procedures addressing compliance risks, and reports findings and recommendations to the direct manager.
• Prepares matrices related to periodic disclosures, follows up on concerned entities' compliance with disclosure issuance within specified time frames, supervises continuous updating of the periodic disclosures manual according to updates throughout the year, and informs the direct manager of any potential cases that might cause disclosure delays or data inaccuracies.
• Supervises/responds to inquiries from branches and bank departments in coordination with the direct supervisor concerning approved instructions, laws, and regulations. Provides advice and guidance on compliance-related matters to enhance the regulatory environment.
• Reviews/manages incoming and outgoing correspondence from the Saudi Central Bank and supervises outgoing communications, templates, and responses sent by regional management departments to various regulatory authorities, ensuring compliance with the approved issuance mechanism and verifying the authority of the individual addressing the regulator.
• Oversees responses to all customer-requested letters from branches and departments that do not have approved templates in the bank. Studies the frequency of such requests and proposes standardizing and distributing templates to branches and departments within the external letters issuance mechanism.
• Reviews bank systems, programs, and work procedures to ensure constant compliance with applicable legislation and instructions, including training programs.
• Monitors all updates issued by…