Home Saudi Arabia Compliance and Money Laundering Reporting Officer - Vice President - Saudi Nationals Only

Home Saudi Arabia Compliance and Money Laundering Reporting Officer - Vice President - Saudi Nationals Only

Compliance and Money Laundering Reporting Officer - Vice President - Saudi Nationals Only

Full time at JPMorgan Chase & Co. in Saudi Arabia
Posted on March 27, 2024

Job details

Join our Riyadh Compliance team as Vice president and provide support to Corporate & Investment Bank businesses conducted in the jurisdiction. The role will report locally to the CEO and functionally to the Head of Compliance for the Middle East & North Africa.  As a Compliance and Money Laundering Reporting Officer in Riyadh Compliance team you will conduct compliance monitoring activities, formulate regulatory and control policies, assist in risk assessments, provide guidance with new product developments and implementations as well as educate staff in regard to compliance policies and procedures. Job responsibilities

  • Performs the role of Compliance and Money Laundering Reporting Officer, registered with CMA,  maintaining the regulatory relationship for JPMSA and responding to regulatory notices and request
  • Provides pro-active advice to business management in the development of policies and procedures for JPMSA office, designed to achieve and ensure compliance with corporate and regulatory requirements, specifically CMA and US rules (where applicable) and corporate policies such as the Code of Conduct 
  • Promotes a strong Compliance culture throughout the JPMSA office, establishing Compliance priorities with senior management and communicating these priorities effectively, assisting in the preparation and delivery of the compliance training and awareness programme
  • Conducts regular reviews to verify policies and procedures conform with the latest regulations, specifically ensuring the Compliance Manuals for Saudi Arabia is kept up to date
  • Manages the Compliance Committee, represents Compliance on Local Management Committee, Local Risk Committee and Local Operating Committee reporting on Compliance priorities and issues
  • Conducts an annual Compliance monitoring programme to verify policies and procedures conform with the latest regulations 
  • Identifies and investigates potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required. In relation to the role of MLRO, receiving suspicious activity reports from JPMSA personnel and reporting to SAFIU, where appropriate, and preparing and submitting periodic reports on anti-money laundering and terrorist financing activities
Required qualifications, capabilities, and skills 
  • Strong written and verbal communication skills. Proficient in written and spoken English
  • Exceptional research and analytical skills. Independent decision maker, able to make time-sensitive assessments and to discuss complex regulatory issues with senior management
  • Experience working with internal groups including Legal, Audit, or Risk to ensure consistent understanding of requirements
  • Excellent understanding of CMA/Tadawul /Edaa regulations and as well understanding of all lines of business and products
  • Highly collaborative with a strong emphasis on team work and fostering a positive team spirit
  • Proactive attitude with strong commitment to go above and beyond
  • Proficient in MS Office (Outlook/Word/Excel/Access/PowerPoint)
  • University's degree or equivalent experience required
  • CME1, CME2 and the Advanced Compliance and AML certificates
Preferred qualifications, capabilities, and skills
  • Experience having worked in a CMA regulated environment
  • Legal/Business education would be highly considered
  • Professional certificates such as CAMS or ICA
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