Sanctions & Customer Acceptances Associate Manager

Job Brief:

• Oversee the implementation of local and international sanctions compliance requirements in accordance with the instructions of Saudi Central Bank (SAMA) including the Targeted Financial Sanctions (TFS) Rules and related sanctions list instructions, ensure adherence to approved sanctions lists, and manage related screening, freezing, and reporting processes.

Job Responsibilities:

• Monitor and implement regulatory requirements and rules issued by supervisory authorities, including (for example) the Targeted Financial Sanctions (TFS), AML and Counter terrorism Rules and related sanctions list instructions and customer acceptances.
• Ensure that automated screening systems are updated with the latest local and international sanctions lists (including lists issued by competent authorities such as the UN Security Council Sanctions Committees).
• Conduct periodic reviews and effectiveness testing of screening systems across customers, transactions, venders, merchant and beneficiaries covering the Company’s entire portfolio.
• Enhance and develop project management efforts and coordinate with system developers to ensure the readiness and adequacy of required systems.
• Ensure of screening all customer, merchant, venders including Entities UBOs, directors, authorized signatories on behalf of customers in accordance with the TFS rules and AML guidelines.
• Review automated screening results for potential matches.
• Analyse matching results and distinguish true matches from false positives.
• Take immediate regulatory action upon confirmation of a true match, including freezing without prior notice to the customer, in accordance with applicable instructions.
• Ensuring proper identification and verification of the Source of Funds and Source of Wealth for high‑risk and PEP customers.
• Ensuring that onboarding high‑risk and PEP customers is subject to mandatory senior management approval.
• Ensuring full compliance with SAMA record‑keeping guidelines pertaining to sanctions and customer acceptance processes
• Execute the immediate freezing of assets or transactions related to individuals or entities listed on sanctions lists.
• Coordinate with relevant departments to ensure prompt and effective implementation of freezing measures.
• Prepare and submit required reports and notifications to SAMA and FIU within the specified regulatory timelines.
• Develop and update sanctions compliance policies and procedures in alignment with SAMA instructions.
• Ensure sanctions requirements are incorporated within the AML/CFT framework.
• Conduct periodic reviews of procedures to ensure efficiency and regulatory compliance.
• Provide technical support and advisory guidance to various departments regarding sanctions requirements.
• Contribute to the development of internal training materials to enhance awareness of sanctions risks and regulatory obligations.
• Assess sanctions exposure risks within the overall AML/CFT risk assessment framework.
• Submit periodic reports to the AML Manager regarding the level of compliance and any material cases.
• Support internal and external audit activities and regulatory requirements related to sanctions.

Qualification and Experience:

• Bachelor’s degree in Finance, Law, Business Administration, or related field.
• Professional certifications preferred (CAMS, CGSS, or other sanctions/AML-related certifications).
• 5–8 years of experience in AML/CFT or Sanctions Compliance within financial institutions or financing companies.
• Hands-on experience with sanctions screening systems and alert handling