Compliance Officer

About Masarat Insurance

Masarat Insurance is seeking a Compliance Officer to join our team in Riyadh, Saudi Arabia. This full-time role is critical in ensuring the company's adherence to regulatory standards and internal policies within the insurance sector.

Role Purpose

The primary purpose of this role is to ensure Masarat Insurance maintains full compliance with all Insurance Authority regulations, Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) requirements, and established internal policies. The Compliance Officer will play a key role in safeguarding the company's operating license and reputation.

Key Responsibilities

• Monitor ongoing compliance with Insurance Authority regulations and intermediaries' bylaws.
• Develop, update, and implement internal compliance policies and procedures.
• Conduct periodic compliance audits and risk assessments to identify potential areas of non-compliance.
• Prepare comprehensive compliance reports for the CEO and relevant regulatory authorities.
• Deliver compliance and AML training programs to employees.
• Follow up on and ensure the implementation of corrective actions for any identified violations or deficiencies.

Qualifications and Experience

• Bachelor's degree in Law, Business Administration, or Insurance.
• A minimum of 5 to 10 years of experience in a compliance role, preferably within the insurance or financial services industry.
• Solid knowledge of Insurance Authority regulations and AML/CTF requirements.
• Professional compliance certification (*, CAMS) is considered an advantage.

Required Skills

• Strong analytical skills for assessing compliance risks and data.
• Excellent reporting skills for preparing clear and concise documentation.
• Effective communication skills, both written and verbal, for interacting with internal teams and external authorities.

Application Process

Candidates who meet the above qualifications are encouraged to apply for this full-time position in Riyadh.