Compliance & AML Manager

About Malaa

Malaa is seeking a Compliance & AML Manager to join its team in Riyadh, Saudi Arabia. This full-time role is critical for managing the company's daily compliance and Anti-Money Laundering (AML)/Counter-Terrorist Financing (CTF) activities, ensuring the effective implementation of regulatory frameworks.

Role Overview

The Compliance & AML Manager will support Malaa in maintaining adherence to applicable Capital Market Authority (CMA) requirements, license conditions, internal policies, procedures, and regulatory obligations. This includes oversight of securities business activities, products, services, and client relationships. The role requires 5-10 years of relevant experience.

Key Responsibilities: Compliance

• Monitor compliance with CMA regulations, rules, circulars, license conditions, and internal policies.
• Maintain and update the regulatory obligations register, assessing the impact of new requirements.
• Manage the preparation and execution of the annual Compliance Monitoring Plan.
• Conduct compliance monitoring reviews, control testing, and thematic reviews, identifying gaps and tracking corrective actions.
• Review new products, services, investment journeys, client journeys, systems, and material business changes from a compliance perspective.
• Examine client agreements, terms and conditions, disclosures, policies, procedures, and marketing materials for regulatory compliance.
• Support the assessment and ongoing monitoring of outsourcing arrangements, third-party service providers, brokers, custodians, and fund managers.
• Monitor compliance with client protection, conduct of business, disclosure, suitability, conflicts of interest, and complaint-handling requirements.
• Coordinate the preparation of regulatory reports, filings, responses, and notifications for the CMA.
• Support regulatory inspections and information requests, including coordinating responses and follow-up on observations.
• Maintain records and evidence of compliance monitoring, reviews, and regulatory communications.

Key Responsibilities: AML/CTF

• Manage the implementation and maintenance of the Company's AML/CTF and targeted financial sanctions framework.
• Oversee Know Your Customer (KYC), customer due diligence, enhanced due diligence, risk classification, and ongoing customer due diligence processes.
• Oversee AML/CTF controls for individual and legal-person clients.
• Monitor sanctions, targeted financial sanctions, proliferation-financing controls, and politically exposed person screening processes.
• Oversee transaction-monitoring activities, alerts, investigations, and unusual activity escalations.
• Review potentially suspicious activity and prepare documented assessments for escalation to the Money Laundering Reporting Officer (MLRO).
• Support the MLRO in regulatory reporting and communication with authorities on AML/CTF and suspicious activity matters.
• Conduct or oversee quality assurance reviews of KYC, customer risk classification, screening, and transaction monitoring.
• Support periodic AML/CTF risk assessments and ensure documentation and monitoring of identified risks and remediation actions.
• Monitor regulatory developments related to AML/CTF, targeted financial sanctions, proliferation financing, and financial crime.
• Coordinate with Operations, Risk Management, Cybersecurity, Legal, Investment, Technology, and other functions on AML/CTF matters.

Management and Reporting

• Prepare periodic Compliance and AML/CTF reports for senior management, the Board, and relevant committees.
• Provide compliance and AML/CTF advice and guidance to business and support functions.
• Maintain complete, accurate, and retrievable records of Compliance and AML/CTF activities.
• Support the development, review, and update of Compliance and AML/CTF policies, procedures, and monitoring tools.