Senior Compliance Officer

Overview

Key Responsibilities

• The Senior Compliance Officer will help and assist the Head of Compliance in the following:
• Monitoring and interpreting regulatory changes, laws, and guidelines affecting the insurance sector in Saudi Arabia.
• Designing and executing the annual compliance plan.
• Reviewing and updating company policies and procedures to ensure ongoing compliance.
• Providing regulatory advice to business units, projects, and committees.
• Representing the compliance function in internal and external meetings, committees, and with regulators.
• Leading or participating in internal audits and regulatory inspections.
• Managing and supporting the compliance team.
• Coordinating with Legal, HR, and other departments on compliance-related matters.
• Supporting regulatory inspections, audits, and supervisory visits.
• Maintaining and updating the compliance database and obligation register.
• Tracking regulatory deadlines and coordinating regulatory submissions.
• Conducting compliance risk assessments and self-assessment validations.
• Preparing and delivering compliance reports (quarterly/annual) for management.
• Developing and delivering compliance training and awareness campaigns for staff.
• Supporting data privacy compliance, including breach management and data subject access requests.
• Assisting in implementing AML requirements, including maintaining and updating AML/CFT policies and procedures, conducting transaction monitoring, name screening, filing suspicious transaction reports, coordinating AML training, responding to regulator AML requests, and conducting internal AML risk assessments.
• Assisting in implementing Anti-Fraud requirements, including maintaining and updating anti-fraud policies and procedures, managing confidential whistleblowing channels, investigating fraud cases, preparing fraud investigation reports, and coordinating with Legal/HR on disciplinary actions.
• Managing compliance files, registers, and logs, ensuring accuracy and confidentiality.
• Acting as a point of contact for compliance-related queries from business units.
• Participating in investigations of compliance breaches, fraud, or whistleblowing cases.
• Assisting in preparing reports and presentations for internal and external stakeholders.