Chief of Compliance & MLRO
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Key skills for this role
About the Role
Soar, a global fintech startup, seeks a Chief of Compliance and MLRO to lead the compliance function. The ideal candidate must be a Saudi national with 15+ years of compliance/AML experience in the Saudi banking sector or SAMA-licensed companies, and deep knowledge of SAMA regulations.
Key Skills for This Role
Responsibilities
- Develop, implement, and manage the company's compliance program in line with SAMA regulations and other relevant regulatory authorities
- Act as the 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 potential risks and implement corrective actions
- Ensure all departments adhere to compliance requirements, offering guidance and training where necessary
- 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 a related field
- 15+ years of experience in compliance or AML roles within the Saudi banking sector or in companies licensed by SAMA
- 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, with the ability to influence at all levels of the organization
- Excellent analytical and problem solving skills
- Fluency in both Arabic and English
- Master's degree or professional certifications (e.g., CAMS, CISA) are preferred
- Currently working in a Saudi bank or a SAMA licensed financial institution preferred
Full Job Posting
About Us
- Soar is a global fintech startup that specializes in financing and investment.
- Currently headquartered in Saudi Arabia, Soar is growing throughout the region with a mission to help people achieve their financial goals with innovative financial and property investment solutions and tools through its multi purpose platform, designed to offer a simple and seamless user experience
Role Purpose
- As a Chief of Compliance and Money Laundering Reporting Officer (MLRO) you will lead our compliance function.
- The ideal MLRO must be a Saudi national with extensive experience in the Saudi banking sector or in companies licensed by the Saudi Central Bank (SAMA).
- This role requires deep knowledge of regulatory frameworks, risk management, and anti money laundering (AML) practices in Saudi Arabia.
Job Duties and Responsibilities
- Develop, implement, and manage the company's compliance program in line with SAMA regulations and other relevant regulatory authorities.
- Act as the primary liaison with SAMA and other regulatory bodies, ensuring timely and accurate reporting.
- Oversee and manage all AML/CFT (Anti Money Laundering/Combating the Financing of Terrorism) policies, procedures, and controls.
- Lead internal audits and compliance reviews to identify potential risks and implement corrective actions.
- Ensure all departments adhere to compliance requirements, offering guidance and training where necessary.
- 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 a related field. Master's degree or professional certifications (e.g., CAMS, CISA) are preferred.
- 15+ years of experience in compliance or AML roles within the Saudi banking sector or in companies licensed by SAMA.
- 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, with the ability to influence at all levels of the organization.
- 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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