Head of Compliance📣 Job Ad

About Foodics and the Head of Compliance Role

Foodics, a leading restaurant management ecosystem and payment tech provider, is seeking a Head of Compliance for a full-time position based in Riyadh, Riyadh Province. Founded in 2014 with headquarters in Riyadh and offices across 5 countries, Foodics serves customers and partners in over 35 different countries worldwide. The company's innovative products have successfully processed over 6 billion orders, establishing Foodics as a rapidly evolving SaaS company in the MENA region.

Role Overview and Objectives

The Head of Compliance will guarantee that all business processes and transactions adhere to relevant guidelines, complying with KSA and SAMA regulations and internal standards. This role involves conducting risk assessments, advising management, and providing a link between specialist departments and the management team. The individual will regulate the flow of information while respecting different responsibilities and confidentiality requirements, participating in the development of compliance programs, reviewing company policies, and advising on potential risks.

Core Responsibilities

• Oversee the implementation of the company’s compliance program and lead the rollout of associated compliance policies and procedures.
• Lead efforts in identifying and assessing compliance risks to the organization, ensuring proper evaluation of their potential impacts.
• Ensure the organization consistently meets regulatory and compliance obligations, while ensuring policies and procedures are robust and aligned with applicable laws and SAMA regulations.
• Manage the scope of key compliance areas including KYC, client relations procedures, client complaints, code of conduct and ethics, incident and complaint reporting, as well as relevant legislation related to payment institutions and local laws.
• Review and approve all documentation submitted to SAMA for new product formations related to the payments business.
• Oversee follow-up actions on SAMA’s inspection reports, preparing comprehensive action plans in collaboration with relevant departments to ensure timely and effective resolution.
• Act as the Money Laundering Reporting Officer (MLRO). Oversee the company’s AML/CFT framework, identify and assess financial crime risks, monitor suspicious activities, ensure appropriate escalation and reporting, and maintain effective controls in line with SAMA and KSA regulations.
• Lead and oversee KYC/CDD processes, including customer identification and verification, risk classification, enhanced due diligence for high-risk customers, and ongoing monitoring, ensuring compliance with SAMA, AML/CFT requirements, and internal policies.

Candidate Profile and Requirements

The ideal candidate will possess the following qualifications and attributes:

• 5-10 years of relevant experience in compliance or governance.
• Demonstrated flexibility to work effectively in a fast-paced and evolving environment.

Benefits and Growth Opportunities

Foodics offers a supportive environment for professional development and career growth, including:

• Highly competitive compensation packages, including bonuses and the potential for shares.
• Prioritized personal development with regular training and an annual learning stipend to support career growth in a hyper-growth environment.
• The opportunity to join a talented team of over 30 nationalities working in 14 countries, gaining valuable experience in the industry.
• Autonomy, mentoring, and challenging goals that create opportunities for both individual and company advancement.

Application Information

Candidates interested in this Head of Compliance position are encouraged to apply. Foodics is committed to building a strong team to support its continued growth and innovation in the payment technology sector.