Senior Officer, AML/CTF

JOB PURPOSE: • To ensure that all AML/CTF activities within FAB KSA are carried out in accordance with the authorized activities licensed by the governing authorities / regulators; and to ensure the handling of the AML system alerts and related inquiries, emails and further communication, this will include applying best international practices regarding AML/CTF and safeguarding the bank’s reputation by complying to the applicable laws and regulations. • To ensure timely escalation of alerts/cases presenting indicators of suspicion, sanctions concerns, or material control exceptions in accordance with internal escalation procedures and regulatory expectations. KEY ACCOUNTABILITIES: Policies, Systems, Processes & Procedures • Follow all relevant departmental policies, processes, standard operating procedures, and instructions so that work is carried out in a controlled and consistent manner. • Follow all relevant rules and regulations issues in regards to the handling of the function and any aiding regulatory instructions. • Demonstrate compliance to organisation’s values and ethics at all times to support the establishment of a value drive culture within the bank. • Oversee and manage Anti-Money Laundering (AML), Counter-Terrorist Financing (CTF), and Counter-Proliferation Financing (CPF) frameworks, ensuring full compliance with regulatory requirements, internal policies, and international best practices. • Handling and treating alerts generated for sanctions (including Targeted Financial Sanctions (UN)) and AML systems. • Handling and treating SAMANET / Tanfeeth requests. • Escalate any STRs/SAR to the MLRO. • Review and approve High risk clients acceptance including PEP relationships. • Maintain complete documentation, supporting evidence and clear rationale for decisions and case closures to ensure a robust audit trail and regulatory defensibility. Continuous Improvement • Contribute to the identification of opportunities for continuous improvement and sustainability of systems, processes and practices considering global standards, productivity improvement and cost reduction. Reporting • Assist in the preparation of timely and accurate statements and reports to meet department requirements, policies and quality standards (internally and externally). • Generating and Monitoring reports generated from the bank AML system to monitor customers’ transactions to detect unusual or potential suspicious activity. • Support periodic AML/CTF MIS preparation by ensuring accuracy and completeness of information related to alerts/cases (e.g., volumes, ageing, outcomes), as assigned. Additional Accountabilities • Ensure AB&C Policy & Framework are implemented and maintained in line with Group and local regulatory requirements. • Provide advisory to business on AB&C matters. • Develop and deliver AB&C training to employees and relevant stakeholders. • Support the investigations team in any potential bribery or corruption incident review and ensure appropriate reporting of any breaches to senior management. • Handling Anti-commercial concealment role which is under the AML function to combating commercial concealment as required by SAMA. • Perform any other duties and responsibilities as assigned by the line manager or senior management in support of departmental and organizational objectives. JOB CONTEXT • Support MLRO in implementing bank’s strategy and business expansion • Receive and execute SAMANET / Tanfeeth instructions / queries • Align SAMANET / Tanfeeth processes with back-office systems • Ensure to maintain strict confidentiality and privacy of the customer information & sanctioned names • Assist MLRO in investigation of issues • Perform record management of documents • Comply with bank’s policies • Participate in AML-CTF activities to identify customer breaches if any • Perform systems testing • Comply with regulations from SAMA, other applicable laws and bank’s policies • Implement SAMA standard controls and monitor daily transactional activities • Prepare and submit MIS to MLRO for capacity planning • Conduct frequent daily screenings against SAMA lists QUALIFICATIONS & EXPERIENCE: • Bachelor’s degree in Business, Finance, Accounting or equivalent. • Awareness and knowledge of international best practice in relation to AML and Compliance policies and procedures. • Good knowledge of the regulator roles and regulatory requirements. • Relevant Professional Qualifications, particularly AML. • Enjoying an independent character enabling him/ her to perform his task objectively. • Fluent in Arabic and English. • Must be a Saudi National. Minimum Experience Minimum of 0–4+ years experience in a reputed bank or financial institution, with exposure to compliance frameworks, governance, policies/procedures, assurance / quality review, or related risk and control activities. Show more Show less