Sanctions Officer📣 Job Ad

About the Role

FNRCO is seeking a dedicated and experienced Sanctions Officer to join its team in Riyadh, Saudi Arabia. This full-time role is central to ensuring the bank's adherence to all applicable sanctions regulations and Anti-Money Laundering (AML) requirements. The Sanctions Officer will provide critical sanctions-related advice to business units, actively manage sanctions risks, and oversee the review of customer and transaction screening results to maintain compliance with both local and international regulatory frameworks.

Key Responsibilities

• Ensure comprehensive compliance with local and international sanctions regulations, including those from SAMA, FATF, OFAC, and the UN.
• Implement and maintain the bank's sanctions policies and controls, supporting the Head of AML in managing the sanctions function and monitoring related risks across the institution.
• Conduct screening of new and existing customers (NTB/ETB), suppliers, vendors, owners, and related parties against various sanctions lists, including SAMA, OFAC, United Nations (UN), and other international watchlists.
• Review and validate sanctions alerts generated during account opening processes and investigate suspicious payment alerts, ensuring no sanctioned or grey-listed individuals are involved in transactions.
• Monitor and review flagged wire transfers and samples of released payments for compliance with sanctions requirements.
• Provide sanctions guidance and advisory support to business units and operational teams, contributing to awareness and training programs, and ensuring KYC policies incorporate sanctions requirements.

Sanctions Systems Management and Regulatory Oversight

• Manage and maintain sanctions screening systems such as FircoSoft, OWS, World-Check, and other relevant tools.
• Responsibilities include updating sanctions lists, maintaining "Good Guy" and "Bad Guy" lists, and continuously monitoring the effectiveness of screening processes.
• Monitor changes in sanctions regulations and ensure compliance with FATF recommendations.
• Update the Financial Crime Compliance Risk Model (FCCRM), participate in sanctions implementation reviews across business units, and coordinate with regulators on sanctions-related matters.

Qualifications and Experience

• A Bachelor's degree or equivalent in a relevant discipline is required.
• Candidates should possess 5–7 years of experience in banking or financial services, with a strong background in AML, sanctions, compliance, or financial crime.
• A minimum of 3–5 years in an AML management or supervisory role is preferred.
• Preferred certifications include CAMS (Certified Anti-Money Laundering Specialist), CCO, or other recognized AML/Compliance certifications.

Work Location

This is a full-time position based in Riyadh, Saudi Arabia.

Application

Qualified candidates are invited to apply for this role.