Compliance Officer (Riyadh)

Full time at a Laimoon Verified Company in Saudi Arabia

Posted on January 3, 2025

Job details

Mission: The Compliance Officer will ensure the financial transactions, business activities and general operations adhere to the principles of Shariah law, including compliance oversight, policy development, auditing and risk management, stakeholder communication and ethical advocacy.

Core Competencies:

Regulatory Knowledge & Ethical Conduct

Risk Management & Compliance

Auditing & Monitoring

Communication & Interpersonal Skills

Key Performance Indicators:

The % of the organization's assets that comply with Sharia principles, including investments, financing activities, and other financial instruments that align with Islamic finance guidelines.

The amount of time taken to obtain approval from authorities for new financial products, contracts, or business activities.

Drafting, implementing and training of business operations procedures for new staff within 60 days of onboarding.

The # of findings from compliance audits or assessments and the % time taken to remediate any issues identified.

The accuracy and timeliness of regulatory reports submitted by the organization.

Responsibilities:

Ensures that the organization complies with all relevant laws, regulations, and industry standards applicable to its operations including AML, KYC requirements

Acts as primary liaison between the organization and regulatory authorities, industry associations, and other external stakeholders.

Scrutinizes contracts, agreements, and business practices to ensure they are free from interest (riba), uncertainty (gharar), speculation (maisir), and unethical investments.

Develops and implements policies and procedures that align with Shariah principles and regulatory requirements. This will involve creating guidelines for permissible investments, ethical business practices, and customer interactions that adhere to Islamic finance principles.

Monitors the organization's activities to detect any violations of laws, regulations, or internal policies. Investigates potential breaches, documenting findings, and reporting them to senior management and regulatory authorities as required.

Provides training and educational sessions to employees to ensure they understand Shariah compliance requirements and their implications for business operations.

Audits and monitoring activities to assess the organization's compliance with Sharia principles. This involves reviewing financial records, conducting on-site inspections, and investigating any potential breaches of Sharia compliance.

Qualifications:

Bachelor's degree in Business, Finance, or a related field. Master's degree preferred.

Professional Certificate in Islamic Finance (PCIF) Certification

Proven experience in a similar leadership role, with a track record of successfully implementing technology strategies.

Strong technical compliance and lending knowledge and understanding of legal requirements, regulations and Sharia Lending practices

Excellent leadership and management skills, with the ability to motivate and inspire a team.

Strong business acumen and the ability to align technology initiatives with organizational goals.

Exceptional problem-solving and decision-making skills, with a strong attention to detail.

Excellent communication and interpersonal skills, with the ability to effectively collaborate and communicate with stakeholders at all levels.

Proven ability to manage multiple projects and priorities in a fast-paced, dynamic environment.

Strong strategic thinking and planning skills, with the ability to anticipate and mitigate potential risks and challenges.

Note: This job description is not intended to be all-inclusive. The Compliance Officer may be required to perform other related duties as requested by the management team.

#J-18808-Ljbffr Corporate Law

Apply safely

To stay safe in your job search, information on common scams and to get free expert advice, we recommend that you visit SAFERjobs, a non-profit, joint industry and law enforcement organization working to combat job scams.

Hiring company

Confidential

Improve your chance to get this job. Do an online course on Anti Money Laundering starting now.

Anti-Money Laundering Alpha Academy

AED 110
~~AED 2,204~~

Duration: Upto 13 Hours

Enrol
Countering the Financing of Terrorism (CFT) Vskills

AED 180

Duration: 1 To 2 Months

Enrol

See all courses

See All Compliance Jobs

Compliance Officer (Riyadh)

Job details

Apply safely

Hiring company

Confidential

Sr Counsel Corporate Compliance - Investigations

Sr Counsel Corporate Compliance - Investigations

Regulatory & Compliance

HSE Officer (Onshore HDD) - Saudi Arabia

Sr Counsel - Corporate Compliance Department (abac)

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Accounting Officer

Contracts Management Department Manager - Head office

Sr Counsel Intl. Trade Controls & Sanctions

Sr Counsel Intl. Trade Controls & Sanctions

Senior Facilities Engineer

Electrical Engineer

Jobs

Courses

Location

Follow us

Home Saudi Arabia Compliance Officer (Riyadh)

Home Saudi Arabia Compliance Officer (Riyadh)

Compliance Officer (Riyadh)

Job details

Apply safely

Hiring company

Confidential

Similiar Jobs that might interest you

Sr Counsel Corporate Compliance - Investigations

Sr Counsel Corporate Compliance - Investigations

Regulatory & Compliance

HSE Officer (Onshore HDD) - Saudi Arabia

Sr Counsel - Corporate Compliance Department (abac)

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Field Compliance Coordinator

Accounting Officer

Contracts Management Department Manager - Head office

Sr Counsel Intl. Trade Controls & Sanctions

Sr Counsel Intl. Trade Controls & Sanctions

Senior Facilities Engineer

Electrical Engineer

Why are you reporting this job?

Laimoon Job Alert fresh jobs directly from websites*

Jobs

Courses

Location

Follow us