Chief Compliance Officer
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Key skills for this role
About the Role
POSITION SUMMARY The Chief Compliance Officer (CCO) is a senior executive role responsible for establishing, overseeing, and continuously enhancing the compliance framework o.
Key Skills for This Role
Responsibilities
- Lead and manage all compliance related workstreams for CMA license application.
- Serve as primary liaison with the Capital Markets Authority (CMA).
- Design, implement, and maintain a comprehensive compliance management framework.
- Develop and maintain AML/KYC/CDD compliance program.
- Report to the Board of Directors on compliance status and regulatory developments.
- Develop and deliver compliance training programs for staff.
- Investigate potential compliance breaches and manage remediation.
Requirements
- Must be approved or eligible for approval by the CMA as the designated Chief Compliance Officer.
- Bachelor's degree in Finance, Law, Business Administration, Economics, or a closely related field.
Full Job Posting
Position Summary
- The Chief Compliance Officer (CCO) is a senior executive role responsible for establishing, overseeing, and continuously enhancing the compliance framework of the Saudi entity in accordance with CMA regulations.
- The CCO will play a pivotal role during the CMA licensing phase and serve as the primary point of contact between the organization and the CMA.
Key Duties & Responsibilities
- Lead and manage all compliance related workstreams in support of the organization's CMA license application.
- Serve as the designated compliance contact and primary liaison with the CMA throughout the licensing process and post licensing.
- Ensure the organization meets all CMA conditions precedent, fit and proper requirements, and ongoing regulatory obligations.
- Support the establishment of the Saudi entity's legal, operational, and governance infrastructure.
- Monitor and respond to CMA circulars, directives, and regulatory updates.
- Prepare and submit all periodic regulatory reports, notifications, disclosures, and filings to the CMA.
- Design, implement, and maintain a comprehensive compliance management framework.
- Develop, review, and update compliance policies, procedures, and manuals.
- Establish and oversee a compliance monitoring and testing program.
- Develop and maintain a robust AML/KYC/CDD compliance program.
- Implement and oversee conflicts of interest policy, insider trading prevention program, market conduct standards, and suitability/appropriateness frameworks.
- Ensure compliance with CMA's client asset protection and segregation requirements.
Risk Management & Internal Controls
- Identify, assess, and prioritize compliance risks across business lines, products, and operational functions.
- Collaborate with the internal audit function to ensure alignment between compliance monitoring and audit activities.
- Oversee the compliance aspects of new product approvals, client onboarding, and business initiatives.
- Maintain and test the organization's Business Continuity and Compliance Contingency Plans.
- Ensure controls are in place to prevent breaches of regulatory obligations.
Governance & Board Reporting
- Report directly and regularly to the Board of Directors and/or the Board Audit & Compliance Committee.
- Prepare and present comprehensive compliance reports, dashboards, and risk assessments to senior management and the Board.
- Advise the Board and executive management on regulatory and compliance implications of strategic decisions.
- Maintain and update the compliance risk register, escalating material issues to the Board promptly.
- Ensure proper record keeping and documentation of all compliance activities.
Training, Culture & Awareness
- Develop and deliver a compliance training and awareness program for all staff.
- Foster a culture of compliance and ethical conduct throughout the organization.
- Advise and guide business units and employees on compliance matters.
- Oversee the organization's whistleblowing framework.
Investigations & Breach Management
- Investigate potential compliance breaches, suspicious activities, and regulatory violations.
- Report material breaches and regulatory incidents to the CMA within prescribed timeframes.
- Maintain a breach register and ensure corrective actions are tracked and completed.
- Manage relationships with external legal counsel and compliance advisors as necessary.
Qualifications & Requirements
- Must be approved or eligible for approval by the CMA as the designated Chief Compliance Officer.
- Bachelor's degree (minimum) in Finance, Law, Business Administration, Economics, or a closely related field.
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