AML Officer

Role Overview

AML Officer at Tamara, a leading fintech platform in Saudi Arabia and the GCC region, based in the region.

Company Overview

Tamara is a fintech platform with a mission to help people own their dreams through simple, trusted, and accessible financial solutions. The platform serves more than 25 million customers and over 130,000 partner merchants across retail, travel, education, healthcare, and beyond. Tamara is backed by Sanabil Investments, a wholly owned company of the Public Investment Fund (PIF), and SNB Capital, among others.

Role Purpose

As AML Officer, you will ensure compliance with anti-money laundering regulations by effectively applying them in daily operations, monitoring company units through compliance testing, reporting findings, and escalating non-compliance to maintain the integrity of Tamara's financial operations.

Key Responsibilities

Regulatory Interpretation & Framework

• Read and understand the rules and regulations that govern the business and translate them into practice.

Merchant Compliance

• Verify merchants KYC as a second line of defense before granting approval for onboarding.
• Log all verified merchants for reporting purposes.
• Ensure that all merchants have been assigned the appropriate MCC code and risk level from an AML perspective, considering jurisdiction, products, channels, and legal form of the company.

Customer Due Diligence

• Ensure that all consumer KYCs are obtained by conducting periodic sampling.
• Report any shortcomings identified during consumer KYC reviews.

Monitoring & Testing

• Ensure that all transactions are monitored and all AML and fraud scenarios are in place and updated periodically.
• Monitor and inspect company divisions and units through compliance testing to ensure compliance with regulations and requirements.

Reporting & Escalation

• Prepare a report of findings and observations.
• Escalate in case of breaches.

Remediation & Prevention

• Set an action plan with the concerned department to resolve the breach and find a solution to prevent future violations.

Marketing Oversight

• Review marketing and promotional materials and share feedback with the Director of Compliance.

Qualifications & Experience

• Bachelor Degree in Law, Business Administration, or a related field.
• 2+ years in a similar field under SAMA.
• Fintech and payments-related experience is highly preferred.

Skills & Competencies

• Proficiency in compliance testing and monitoring.
• Ability to read, understand, and translate rules and regulations into practice.
• Excellent communication and presentation skills.
• Excellent organizational and time management skills.
• Customer oriented with strong negotiation skills.
• Analytical and data-driven problem solver.