Deputy Head of Compliance & MLRO

Job Title: Deputy Head of Compliance & MLRO (Saudi Nationals Only)

Location: Riyadh, Saudi Arabia

Contract Type: Permanent

Reporting Line: Head of Compliance / Chief Compliance Officer – Riyadh Branch

About the Role

A global tier 1 investment bank is seeking a Deputy Head of Compliance & MLRO to join its Riyadh branch. This senior leadership role supports the Chief Compliance Officer (CCO) and acts as MLRO, ensuring the branch operates in full alignment with local regulatory expectations and global compliance standards.

This position is reserved for Saudi nationals, as mandated by regulatory requirements for MLRO appointments in the Kingdom.

Key Responsibilities

Deputy Head of Compliance

• Represent Compliance in internal committees (TACs/NACs, Internal Control, Senior Management) and external regulatory forums with SAMA.
• Support and deputize for the CCO in governance, reporting, audits, and stakeholder engagement.
• Manage and mentor Compliance & AML staff, review leave and expense approvals, and oversee training initiatives.
• Validate internal and regulatory reporting, supervise onboarding and recertification reviews (CAC), and oversee whistleblowing mechanisms.

MLRO Duties

• Serve as the central point of contact for AML/CTF/ABC compliance matters, liaising with SAMA and regulatory authorities.
• Oversee day-to-day AML operations, including suspicious activity detection, investigation, and reporting.
• Monitor transactions, sanctions screening, and KYC compliance; maintain AML/CTF/ABC programs and training initiatives.
• Ensure full compliance with the SAMA Rulebook and internal Group policies.

Functional Oversight

• Maintain regulatory compliance framework, policies, and procedures in line with Saudi law and global standards.
• Lead annual compliance risk assessments, internal control plans, and training programs.
• Participate in the review of new products, services, and client onboarding to ensure regulatory alignment.
• Coordinate with internal/external auditors and regulators; manage audit responses and inspections.

Key Contributions

• Chair or contribute to Client Acceptance Committees, Ethics investigations, and Protection of Client Interest (PIC) risk governance.
• Act as the branch’s Anti-Bribery & Corruption (ABC) correspondent, driving ABC governance, training, and framework implementation.
• Lead transaction monitoring, client screening, and implementation of automated compliance systems.

Requirements

• Nationality: Saudi (mandatory, as per SAMA regulations for MLRO roles)
• Education: Bachelor’s or higher in Finance, Law, Economics, Engineering, or related field
• Languages: Fluent in Arabic and English
• Experience:
• Minimum 10+ years in Compliance, with at least 3 years in a senior managerial role
• Prior experience within a G7-headquartered bank operating in Saudi Arabia is a strong plus
• Background in 1LoD roles in corporate banking or transaction banking is desirable

Certifications (Mandatory unless noted otherwise)

• Required:
• Saudi Financial Academy Certified Compliance Officer (or ICA equivalent)
• ACAMS Certified Anti-Money Laundering Specialist (or ICA equivalent)
• Preferred (strongly valued):
• ACAMS Global Sanctions Specialist
• Advanced Regulatory & Financial Crime Compliance (SFA or ICA)
• Anti-Fraud & Anti-Corruption certifications (SFA, ACAMS, or ICA)