Head of Compliance & AML
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Key skills for this role
About the Role
Allied Cooperative Insurance Group (ACIG) is hiring a Head of Compliance & AML to lead the compliance function, strengthen regulatory frameworks, and foster a culture of ethics.
Key Skills for This Role
Responsibilities
- Develop and implement the organization's Compliance and AML strategy, framework, and annual plan
- Ensure compliance with applicable laws, regulations, and regulatory requirements
- Lead the AML, CTF, and sanctions compliance programs
- Monitor regulatory developments and assess their impact on the organization
- Conduct compliance risk assessments and recommend mitigation measures
- Oversee compliance monitoring, testing, and reporting activities
- Provide compliance advice and guidance to business units and senior management
- Liaise with regulators, auditors, and external stakeholders on compliance matters
- Investigate compliance breaches and oversee corrective action plans
- Deliver compliance awareness and AML training across the organization
- Prepare reports for executive management, Board committees, and regulators
- Lead, coach, and develop the Compliance & AML team
Requirements
- Bachelor's degree in Law, Finance, Business Administration, Risk Management, or related field
- Minimum 10+ years of experience in compliance, AML, financial crime, or regulatory affairs
- At least 3 years in a leadership role
- Insurance industry experience highly preferred
- Professional certification such as CAMS, ICA, CRCM, or equivalent preferred
- Strong knowledge of Saudi Insurance Authority regulations and AML/CFT requirements
Full Job Posting
About the Role
- The Head of Compliance & AML is responsible for leading ACIG's compliance and AML programs, ensuring adherence to regulatory requirements, mitigating compliance risks, and providing strategic guidance to senior management and the Board.
- The role serves as the primary liaison with regulators and oversees the implementation of effective compliance monitoring and financial crime prevention frameworks.
Key Responsibilities
- Develop and implement the organization's Compliance and AML strategy, framework, and annual plan.
- Ensure compliance with applicable laws, regulations, and regulatory requirements.
- Lead the AML, Counter Terrorist Financing (CTF), and sanctions compliance programs.
- Monitor regulatory developments and assess their impact on the organization.
- Conduct compliance risk assessments and recommend appropriate mitigation measures.
- Oversee compliance monitoring, testing, and reporting activities.
- Provide compliance advice and guidance to business units and senior management.
- Liaise with regulators, auditors, and external stakeholders on compliance related matters.
- Investigate compliance breaches and oversee corrective action plans.
- Deliver compliance awareness and AML training across the organization.
- Prepare reports and updates for executive management, Board committees, and regulators.
- Lead, coach, and develop the Compliance & AML team.
Qualifications & Experience
- Bachelor's degree in Law, Finance, Business Administration, Risk Management, or a related field.
- Professional certification such as CAMS, ICA, CRCM, or an equivalent compliance qualification is preferred.
- Minimum of 10+ years of experience in compliance, AML, financial crime, or regulatory affairs.
- At least 3 years in a leadership role.
- Insurance industry experience is highly preferred.
- Strong knowledge of Saudi Insurance Authority regulations and AML/CFT requirements.
Key Competencies
- Regulatory Expertise
- Strategic Thinking
- Leadership
- Integrity & Ethical Judgment
- Risk Assessment
- Decision Making
- Stakeholder Management
- Communication & Influence
- Analytical Thinking
- Results Orientation
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