Managing Director KSA (General Manager)

About This Role

About the Role:

We are a fast-growing wealth-tech company seeking an experienced Managing Director in Riyadh with proven fintech/wealth-tech experience in the KSA. This is a CMA-registrable senior executive role (equivalent to CEO/General Manager under CMIR Articles 19-20), requiring CMA approval and fit and proper status. You will serve as the company’s primary representative in the Kingdom, acting as the main point of contact with the CMA and overseeing day-to-day operations. You will report to the board of directors, collaborate closely with the Compliance Officer, MLRO, operations teams, and external advisors, and ensure full alignment with CMA regulatory requirements, client protection principles, and legal compliance for arranging and advising activities.

Key Responsibilities

• Strategy & Vision : Develop and execute the market entry plan, including strategic alignment with CMA-authorized activities (arranging introductions and advising on investments) and long-term business objectives.
• Operations Management & Licensing : Lead company setup, obtain all necessary CMA licenses and approvals (including nomination of registered persons), establish head office in the Kingdom, and ensure efficient, compliant operations with robust systems and controls.
• Financial Oversight : Oversee financial planning, budgeting, and reporting for the KSA entity, ensuring accuracy, transparency, and compliance with CMA disclosure standards.
• Leadership & Team Management : Lead hiring, onboarding, and development of the local team; foster company culture; implement training programs on CMA regulations, ethics, and compliance.
• Stakeholder Relations : Build and maintain relationships with partners, suppliers, clients, investors, and local regulators (primarily CMA).
• Compliance & Governance : Ensure adherence to CMA regulations, including client classification, suitability assessments for advice, risk disclosures, conflicts of interest management, fair treatment, and fiduciary duties. Appoint, resource, and supervise the Compliance Officer and MLRO (or oversee outsourced roles); promote ethical standards and a compliance culture.
• Risk Management & Internal Controls : Oversee establishment and regular review of risk management frameworks, AML/CTF procedures, business continuity plans, and internal controls; ensure timely CMA notifications (e.g., material changes, breaches).
• Regulatory Engagement : Act as primary liaison with the CMA, including supporting audits, inquiries, license renewals/variations, and submissions.
• Client Protection & Licensed Activities : Oversee processes for KYC, client due diligence, suitability reports (where required), and use of technology in advice delivery (with CMA approval if needed).
• Performance & Reporting : Provide regular reports to the board on operations, compliance, risks, and regulatory matters; participate in board meetings and committee work as required.

Authorities and Reporting Lines

• Delegated Authorities : Full authority for day-to-day management, operational decisions, team leadership, budget execution (within board-approved limits), contract signing for ordinary business, and representation of the company in KSA (subject to board oversight and CMA restrictions).
• Key Collaborations :
• Report directly to the Board of Directors (ultimate responsibility for governance).
• Supervise and support the Compliance Officer (independent reporting to board on compliance matters) and MLRO.
• Work with external advisors and outsourced functions (if applicable for limited activities).
• Engage directly with CMA as primary contact.

Essential Skills & Qualifications

• Proven senior leadership experience in fintech/wealth-tech or regulated financial services in KSA, ideally with CMA-licensed entities.
• Deep knowledge of CMA regulations (CMIR, conduct principles, suitability rules) and experience in licensing/market entry.
• Strong strategic thinking, analytical, decision-making, and crisis management abilities.
• Excellent communication, interpersonal, and stakeholder management skills, including regulator engagement.
• Financial acumen, business development, and operational setup expertise.
• Relevant degree (e.g., MBA, finance/law); professional qualifications preferred.
• Fit and proper status per CMA criteria: professional experience, integrity, no disqualifying history (e.g., bankruptcy, violations).
• English fluency; Arabic is a must