Anti Money laundering Officer

About Foodics

Foodics is seeking an Anti Money Laundering Officer to join its team in Riyadh, Riyadh Province. This is a full-time position requiring 0-1 years of experience, focusing on ensuring compliance with regulatory requirements in the financial sector.

Role Overview

The Anti Money Laundering Officer will support the AML Lead in daily AML monitoring, customer due diligence, investigations, and regulatory reporting. This role is critical for ensuring adherence to SAMA and FIU requirements, contributing to the company's compliance framework.

Key Responsibilities

• Perform KYC/KYB checks during onboarding and ensure completeness of company documents.
• Validate Commercial Registration (CR), National Address, Merchant Category Code (MCC), Beneficial Ownership, and IBAN ownership.
• Conduct sanctions, Politically Exposed Persons (PEP), and adverse media screening.
• Perform Enhanced Due Diligence (EDD) on high-risk merchants.
• Review unusual patterns in merchant profiles, including transaction volatility, abnormal MCC behavior, and cash-like activities.
• Approve high-risk clients, such as cash-intensive merchants, those with unusual MCCs, or high-volume cross-border activities.
• Review AML alerts, analyze customer behavior, and escalate suspicious activity to the AML Lead.
• Conduct initial AML case investigations and prepare case summaries.
• Assist in preparing Suspicious Transaction Reports (STRs) for submission.

Regulatory Engagement and Reporting

• Act as a primary point of contact with SAMA and FIU regarding AML matters.
• Coordinate regulatory inspections, information requests, and remediation action plans.
• Maintain AML logs, investigation records, and supporting evidence.
• Ensure timely documentation in the case management system.

Training and Awareness

• Support the delivery of AML training to new joiners and operational teams.

Qualifications and Experience

• 0-1 years of experience in Anti Money Laundering or a related compliance field.
• Understanding of SAMA and FIU requirements is essential.
• Strong analytical and investigative skills.
• Ability to manage multiple tasks and prioritize effectively.