Chief Compliance Officer and MLRO, FAB Capital KSA

The key responsibility of this role is to support FAB Capital by:

• Ensuring compliance with related rules and regulations, Group policies and international best practice;
• Providing adequate timely advice to the Board of Directors, management and various lines of Business; and
• Liaising with and reporting key information and metrics to Group Head Office.

Chief Compliance Officer FAB Capital must be able to build and maintain productive business relationships across the regions and must have the ability to work cross-functionally to effectively deliver added value to the Business.

Chief Compliance Officer FAB Capital must be able to build and maintain productive business relationships across the regions and must have the ability to work cross-functionally to effectively deliver added value to the Business.

• Advise the Board of Directors, Senior Management and line of Business on all Compliance matters.
• Advise the Board of Directors, senior management and business on compliance laws, rules and standards on a country, region and international level.
• Keeping the Board of Directors, senior management and business informed about any recent changes to regulations/laws.
• Establish a Compliance program for FAB Capital including a reporting and governance framework.
• Establish a compliance program based on the risk profile of FAB. The program shall define the role and responsibilities of the board of directors, the senior management and all employees with respect to AML / CFT risks.
• The compliance program should have appropriate coverage across businesses and act in coordination with risk management and FAB Head Office.
• Providing guidance and educating staff.
• Assist senior management in educating staff on compliance management and develop a training program.
• Train employees and enhance their understanding of Due Diligence, KYC principles, money laundering and terrorist financing risks, trends and preventive methods.
• Establish policies and procedures, compliance manuals, internal codes of conduct and practice guidelines.
• Identifying, measuring and assessing Compliance risks.
• Identify, document and assess compliance risks faced by FAB Capital.
• Measure compliance risks posed by all departments and lines of business of the entity.
• Assess the appropriateness of FAB’s compliance procedures and guidelines.
• Follow-up on any identified deficiencies and formulate proposals for remediation.
• Adequately manage conflicts of interest and Chinese walls.
• Compliance monitoring, testing and reporting.
• Perform sufficient and representative compliance testing to monitor, test and submit reports on quality and appropriateness of controls in place to manage risk.
• Identify and assess the main compliance risks facing the entity and develop corrective plans in case of any shortcomings.
• Report the outcome of the compliance testing to stakeholders as per the FAB’s policy and local regulations.
• The Head of Compliance should report to local Senior Management and FAB Head Office on a regular basis to discuss FAB’s compliance risk profile and present compliance reports.
• If required, reporting all AML concerns to the local MRLO for analysis and potential reporting of STR’s to the local Financial Intelligence Unit.
• Assisting in development of new products and new business practices.
• Review all new product/instrument from a regulatory compliance perspective.
• Ensure any compliance risk posed by the development of new products or changes in business practice is captured and mitigated.
• Assist senior management in opening new business units/branches/offices in new jurisdictions.
• Raise concerns with appropriate business units, committees and head office in case of high risk of non-compliance.
• Manage and resolve all Compliance related…