Chief Compliance Officer

Overview

Position Summary

3.1 CMA Licensing & Regulatory Affairs

• Lead and manage all compliance-related workstreams in support of the organization s CMA license application, including preparation, review, and submission of all required regulatory documentation.
• Serve as the designated compliance contact and primary liaison with the Capital Markets Authority (CMA) throughout the licensing process and on an ongoing basis post-licensing.
• Ensure the organization meets all CMA conditions precedent, fit and proper requirements, and ongoing regulatory obligations under the Capital Market Law and its implementing regulations, including the Securities Business Regulations.
• Support the establishment of the Saudi entity s legal, operational, and governance infrastructure in a manner consistent with CMA requirements, drawing on the parent organization’s international brokerage experience while ensuring full local regulatory compliance.
• Monitor and respond to CMA circulars, directives, and regulatory updates, ensuring timely assessment and implementation within the organization.
• Prepare and submit all periodic regulatory reports, notifications, disclosures, and filings to the CMA as required under the applicable regulatory framework.

3.2 Compliance Framework & Policies

• Design, implement, and maintain a comprehensive compliance management framework for the Saudi entity, aligned with CMA regulations, the Capital Market Law, and applicable Saudi laws, while leveraging the parent organization2019s international brokerage compliance standards and best practices.
• Develop, review, and update compliance policies, procedures, and manuals covering all activities of the Saudi retail brokerage operation, ensuring they remain current, effective, and consistent with CMA requirements.
• Establish and oversee a compliance monitoring and testing program to proactively identify, assess, and remediate compliance risks across retail client-facing and back-office functions.
• Develop and maintain a robust Anti-Money Laundering (AML), Know Your Customer (KYC), and Customer Due Diligence (CDD) compliance program in line with CMA/SAMA requirements and FATF standards, with particular attention to onboarding Saudi retail clients.
• Implement and oversee a conflicts of interest policy, insider trading prevention program, market conduct standards, and suitability/appropriateness frameworks applicable to a retail securities dealing business.
• Ensure compliance with the CMA2019s client asset protection and segregation requirements applicable to a securities dealing license.
• Establish and oversee a compliance monitoring and testing program to proactively identify, assess, and remediate compliance risks.

3.3 Risk Management & Internal Controls

• Identify, assess, and prioritize compliance risks across business lines, products, and operational functions, and develop risk mitigation strategies.
• 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, including data protection, information barriers, and client asset protection requirements.

3.4 Governance & Board Reporting

• Report directly and regularly to the Board of Directors and/or the Board Audit & Compliance Committee on the state of compliance, material breaches, and regulatory developments.
• 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 and business plans.
• Maintain and update the compliance risk register, escalating material issues to the Board promptly.
• Ensure proper record-keeping and documentation of all compliance activities, regulatory correspondence, and board decisions.

3.5 Training, Culture & Awareness

• Develop and deliver a compliance training and awareness program for all staff, tailored to roles and responsibilities.
• Foster a culture of compliance and ethical conduct throughout the organization, embedding compliance into day-to-day business operations.
• Advise and guide business units and employees on compliance matters, providing practical guidance on regulatory requirements.
• Oversee the organization’s whistleblowing framework, ensuring confidentiality and proper investigation of reported concerns.

3.6 Investigations & Breach Management

• Investigate potential compliance breaches, suspicious activities, and regulatory violations, and manage the remediation process.
• Report material breaches and regulatory incidents to the CMA within the timeframes prescribed by regulation.
• Maintain a breach register and ensure corrective actions are tracked and completed.
• Manage relationships with external legal counsel and compliance advisors as necessary.

4.1 Nationality & Regulatory Requirements

• Must be approved or eligible for approval by the CMA as the designated Chief Compliance Officer.

4.2 Education

• Bachelor s degree (minimum) in Finance, Law, Business Administration, Economics, or a closely related field from a recognized university.