Compliance & AML Specialist

About the Role

Malaa is seeking a Compliance & AML Specialist to join its team in Riyadh, Saudi Arabia. This full-time role involves supporting the company's daily Compliance and Anti-Money Laundering (AML) / Counter-Terrorist Financing (CTF) activities. The specialist will help ensure adherence to applicable SAMA requirements, internal policies, and regulatory obligations related to payment activities, with 0-1 years of experience required.

Key Responsibilities in Compliance

• Monitor compliance with SAMA regulations, circulars, license conditions, and internal policies, maintaining the regulatory obligations register.
• Support the Compliance Monitoring Plan, conduct reviews and control testing, and follow up on corrective actions.
• Review new products, services, customer journeys, operational changes, customer agreements, disclosures, policies, procedures, and marketing materials.
• Support SAMA regulatory reports, responses, and information requests, managing submissions and correspondence through eSAMA, RMS, SAMA Care, and other portals.
• Support SAMA NOC requirements, including identifying when an NOC is needed, preparing submissions, and following up until closure.
• Monitor customer protection, complaints handling, outsourcing, and third-party compliance.
• Escalate material breaches, incidents, and regulatory risks to the Compliance and AML/CTF Manager.

Key Responsibilities in AML/CTF

• Support the implementation and maintenance of the AML/CTF and sanctions framework.
• Oversee Know Your Customer (KYC), customer due diligence, enhanced due diligence, and customer risk classification.
• Monitor sanctions, targeted financial sanctions, and Politically Exposed Person (PEP) screening controls.
• Oversee transaction-monitoring alerts, investigations, and unusual activity escalations.
• Prepare suspicious activity assessments for review by the Compliance and AML/CTF Manager.
• Support the Compliance and AML/CTF Manager in regulatory reporting and communication with the Saudi Financial Intelligence Unit.
• Conduct quality assurance reviews over KYC, screening, and transaction-monitoring processes.
• Coordinate with Fraud, Risk, Cybersecurity, Operations, and Customer Care on financial crime matters.
• Support periodic AML/CTF risk assessments and follow up on identified actions.

Management and Reporting

• Coordinate day-to-day Compliance and AML activities.
• Prepare periodic reports for the Compliance and AML/CTF Manager and relevant committees.
• Support Compliance and AML training and awareness initiatives.
• Maintain complete Compliance and AML records and supporting evidence.

Experience and Qualifications

Candidates should possess 0-1 years of relevant experience in compliance and AML/CTF activities, preferably within the financial services or fintech industry. A strong understanding of SAMA regulations and payment activities is essential for this role.