Chief of Compliance & MLRO
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Key skills for this role
About the Role
Soar, a global fintech startup in Saudi Arabia, seeks a Chief of Compliance and MLRO to lead the compliance function. The ideal candidate is a Saudi national with 15+ years in the Saudi banking sector or SAMA-licensed companies, deep knowledge of AML/CFT, and fluency in Arabic and English.
Key Skills for This Role
Responsibilities
- Develop, implement, and manage the company's compliance program in line with SAMA regulations
- Act as primary liaison with SAMA and other regulatory bodies, ensuring timely and accurate reporting
- Oversee and manage all AML/CFT policies, procedures, and controls
- Lead internal audits and compliance reviews to identify risks and implement corrective actions
- Ensure all departments adhere to compliance requirements, offering guidance and training
- Prepare and submit regular compliance and AML reports to senior management and regulators
- Monitor regulatory changes and advise on necessary adjustments to policies and procedures
- Handle suspicious activity reports (SARs) and ensure proper documentation and escalation
- Foster a strong compliance culture across the organization
Requirements
- Saudi national (mandatory)
- Bachelor's degree in Law, Finance, Business Administration, or related field
- 15+ years of experience in compliance or AML roles within the Saudi banking sector or SAMA licensed companies
- Extensive experience working on home loans or mortgage loan products
- In depth knowledge of SAMA regulations, AML laws, and compliance standards in Saudi Arabia
- Strong leadership and communication skills
- Excellent analytical and problem solving skills
- Fluency in both Arabic and English
- Master's degree or professional certifications (e.g., CAMS, CISA) preferred
- Currently working in a Saudi bank or SAMA licensed financial institution preferred
Full Job Posting
About Us
- Soar is a global fintech startup specializing in financing and investment, headquartered in Saudi Arabia.
Role Purpose
- As Chief of Compliance and MLRO, you will lead the compliance function.
Job Duties and Responsibilities
- Develop, implement, and manage the company's compliance program in line with SAMA regulations.
- Act as primary liaison with SAMA and other regulatory bodies, ensuring timely and accurate reporting.
- Oversee and manage all AML/CFT policies, procedures, and controls.
- Lead internal audits and compliance reviews to identify risks and implement corrective actions.
- Ensure all departments adhere to compliance requirements, offering guidance and training.
- Prepare and submit regular compliance and AML reports to senior management and regulators.
- Monitor regulatory changes and advise on necessary adjustments to policies and procedures.
- Handle suspicious activity reports (SARs) and ensure proper documentation and escalation.
- Foster a strong compliance culture across the organization.
Requirements
- Saudi national (mandatory).
- Bachelor's degree in Law, Finance, Business Administration, or related field.
- 15+ years of experience in compliance or AML roles within the Saudi banking sector or SAMA licensed companies.
- Extensive experience working on home loans or mortgage loan products.
- In depth knowledge of SAMA regulations, AML laws, and compliance standards in Saudi Arabia.
- Strong leadership and communication skills.
- Excellent analytical and problem solving skills.
- Fluency in both Arabic and English.
Preferred Qualifications
- Currently working in a Saudi bank or a SAMA licensed financial institution.
- Hands on experience with compliance systems and tools used for AML monitoring and reporting.
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