Chief Compliance Officer and MLRO FAB Capital

About the Role: Chief Compliance Officer and MLRO

First Abu Dhabi Bank (FAB) is seeking a Chief Compliance Officer and MLRO for FAB Capital in Riyadh, Saudi Arabia. This full-time role requires over 10 years of experience and is central to ensuring compliance with regulatory standards and internal policies within FAB Capital. The successful candidate will provide critical advice to leadership and manage the financial crime compliance framework.

Purpose of the Position

The primary purpose of this role is to support FAB Capital by ensuring adherence to relevant rules, regulations, Group policies, and international best practices. This includes providing timely and adequate advice to the Board of Directors, senior management, and various lines of business, as well as liaising with and reporting key information and metrics to Group Head Office. The Chief Compliance Officer must build and maintain productive business relationships across regions and work cross-functionally to deliver value to the business.

Key Responsibilities

• Advise the Board of Directors, Senior Management, and lines of Business on all Compliance matters, including laws, rules, and standards at country, regional, and international levels.
• Keep stakeholders informed about recent changes to regulations and laws.
• Establish and manage a comprehensive Compliance program for FAB Capital, including a reporting and governance framework tailored to FAB's risk profile, defining roles and responsibilities for AML/CFT risks.
• Provide guidance and develop training programs to educate staff on compliance management, Due Diligence, KYC principles, money laundering, and terrorist financing risks.
• Establish policies, procedures, compliance manuals, internal codes of conduct, and practice guidelines.
• Identify, measure, and assess compliance risks across all departments and lines of business, following up on deficiencies and formulating remediation proposals.
• Manage conflicts of interest and Chinese walls effectively.
• Perform compliance monitoring, testing, and reporting to assess control effectiveness and identify shortcomings, reporting outcomes to stakeholders and Head Office.
• Act as the nominated Money Laundering Reporting Officer (MLRO) for FAB Capital, ensuring compliance with Saudi regulatory authorities, particularly the CMA, regarding Financial Crime Compliance, Counter-Terrorist Financing, and Anti-Money Laundering.
• Assist in the development of new products and business practices, ensuring compliance risks are captured and mitigated.
• Manage and resolve all Compliance-related findings from Regulatory and Internal Audit reviews.
• Perform statutory duties, liaise with external stakeholders such as regulators, manage regulatory inspections, and provide timely key information metrics to local management and UAE Head Office Compliance.
• Monitor global, regional, and local financial crime compliance trends and advise business management to enhance prevention capabilities.

Authorities and Relationships

The role holds the authority to manage the Compliance and AML function for FAB Capital and engage with all bank stakeholders to deliver a value-adding Compliance model. Internal contacts include the Head of Compliance – International, SVP & Head of Compliance - Middle East & Africa, Business Heads, and FAB Capital Senior Management. External contacts involve external and internal auditors, as well as regulators.

Qualifications and Experience

• A minimum of 10 years of experience in a relevant field.
• Demonstrated ability to build and maintain productive business relationships across regions.
• Strong understanding of compliance laws, rules, and standards at country, regional, and international levels.
• Experience in establishing and managing compliance programs, including financial crime compliance frameworks.
• Proficiency in identifying, measuring, and assessing compliance risks.
• Ability to perform compliance monitoring, testing, and reporting.

Work Environment

This is a full-time position based in Riyadh, Saudi Arabia, requiring regular interaction with various internal and external stakeholders through meetings, phone calls, and emails to report progress, address risks, and support project delivery plans.