Job description
Role Overview
Chief of Compliance & Money Laundering Reporting Officer (MLRO) at Soar Software Development, a global fintech startup headquartered in Saudi Arabia specializing in financing and investment solutions.
Company Overview
Soar is a global fintech startup specializing in financing and investment. Currently headquartered in Saudi Arabia, Soar is growing throughout the region with a mission to help people achieve their financial goals with innovative financial and property investment solutions and tools through its multi-purpose platform, designed to offer a simple and seamless user experience.
Role Purpose
As Chief of Compliance and Money Laundering Reporting Officer, you will lead the company's compliance function, ensuring adherence to Saudi Central Bank (SAMA) regulations and anti-money laundering frameworks across the organization.
Key Responsibilities
Compliance Program & Regulatory Strategy
- Develop, implement, and manage the company's compliance program in line with SAMA regulations and other relevant regulatory authorities.
- Monitor regulatory changes and advise on necessary adjustments to policies and procedures.
- Act as the primary liaison with SAMA and other regulatory bodies, ensuring timely and accurate reporting.
AML/CFT Oversight
- Oversee and manage all AML/CFT (Anti-Money Laundering/Combating the Financing of Terrorism) policies, procedures, and controls.
- Handle suspicious activity reports (SARs) and ensure proper documentation and escalation.
Audit & Risk Management
- Lead internal audits and compliance reviews to identify potential risks and implement corrective actions.
- Prepare and submit regular compliance and AML reports to senior management and regulators.
Organizational Compliance
- Ensure all departments adhere to compliance requirements, offering guidance and training where necessary.
- Foster a strong compliance culture across the organization.
Qualifications & Experience
- Saudi national (mandatory).
- Bachelor's degree in Law, Finance, Business Administration, or a related field.
- 15+ years of experience in compliance or AML roles within the Saudi banking sector or in companies licensed by SAMA.
- Extensive experience working on home loans or mortgage loan products.
- In-depth knowledge of SAMA regulations, AML laws, and compliance standards in Saudi Arabia.
- Master's degree or professional certifications such as CAMS or CISA are preferred.
Skills & Competencies
- Strong leadership and communication skills, with the ability to influence at all levels of the organization.
- Excellent analytical and problem-solving skills.
- Fluency in both Arabic and English.
- Hands-on experience with compliance systems and tools used for AML monitoring and reporting (preferred).
Additional Information
- Currently working in a Saudi bank or a SAMA-licensed financial institution is preferred.