Compliance and Money Laundering Reporting Officer

Overview:

Sukna Capital is a dynamic financial institution specializing in alternative asset investments. We leverage data-driven insights and a technology-forward approach to drive superior returns across venture capital, private equity, debt, and real estate. Our commitment to excellence, combined with a global network of partners and experts, empowers us to unlock potential and deliver long-term value for our investors.

Position Summary:

Sukna Capital seeks a seasoned Compliance Officer and MLRO who will report directly to the Board. This role is responsible for monitoring the organization's overall compliance program, ensuring that the company meets its obligations under regulatory and statutory requirements, set forth by the Capital Market Authority (CMA) of Saudi Arabia. The role demands a deep understanding of regulatory compliance within the financial services industry and expertise in managing anti-money laundering (AML) procedures.

Key Responsibilities:

1. Regulatory Reporting and Liaison:

• Serve as the primary point of contact for all regulatory inquiries and examinations related to compliance and AML issues.
• Ensure accurate and timely reporting of compliance and AML matters to the Capital Market Authority (CMA) and other regulatory bodies as required.
• Maintain a proactive relationship with the CMA, ensuring that all regulatory reports are submitted in accordance with statutory timelines and formats.

2. Risk Management and Compliance Monitoring:

• Identify, evaluate, and report on compliance risks associated with the company’s activities.
• . Implement strategic solutions to manage identified risks, ensuring they are mitigated in a timely and effective manner.
• Monitor the effectiveness of the compliance program, reporting findings and providing recommendations directly to the Board.

3. Regulatory Compliance Management:

• Develop and enhance the compliance framework to integrate with the latest regulatory developments and industry best practices.
• Continuously review and update compliance policies and procedures to align with changes in laws and regulations.
• Conduct regular compliance audits and risk assessments to ensure all areas of the business adhere to legal standards and internal policies.
• Develop compliance training materials and programs; conduct training sessions to ensure staff awareness and adherence to compliance and regulatory requirements.

4. AML Oversight:

• Act as the Money Laundering Reporting Officer (MLRO), managing all aspects of the anti-money laundering compliance program.
• Design and implement effective AML policies and controls to prevent, detect, and report potentially suspicious activities.
• Regularly review and update the AML strategy to incorporate new trends in financial crime and money laundering tactics.
• Prepare and submit timely AML reports to regulatory bodies; handle all external communications concerning AML matters.

5. Stakeholder Engagement :

• Collaborate with internal departments to embed compliance considerations into business processes and decision-making.
• Engage and consult with external experts, including legal advisors and compliance consultants, to ensure the compliance framework remains robust and comprehensive.

Qualifications:

• Minimum of 7 years of proven experience in a compliance role within the financial services industry, with significant exposure to AML duties.
• All required CME certifications (CME-1, CME-2)
• Bachelor’s degree in Finance, Economics, Business Administration, or related field; Master’s degree or relevant professional certifications is preferred.
• Comprehensive knowledge of the regulatory environment in Saudi Arabia, especially regulations pertaining to the Capital Market Authority.
• Demonstrated ability to design and implement compliance and AML programs.
• Strong leadership skills with experience in managing direct reports and influencing senior management.
• Exceptional analytical and strategic thinking abilities.
• Excellent communication skills, capable of effectively managing relationships with regulators, senior executives, and team members.

Employment Type:

Full-time

Job Location:

Riyadh, Saudi