Senior Manager Regulatory Compliance Retail

Job Description & Accountabilities

• Senior Manager Regulatory Compliance leads a small group of compliance professionals for Retail Banking Group Compliance areas. This role plans, implements and follows up on Compliance issues is typically the content expert for his area of responsibility.
• This role is responsible for all testing and monitoring mandated under the Compliance control. He/she will also suggest appropriate areas (identified through their testing and monitoring process) to address in order to prevent further breaches of SAMA rules, policies and external regulations and to ensure implementing the controls in the right methods.
• This role is a senior professional with significant compliance and people management capabilities. This position reports directly to the Head of Regulatory Compliance.
• Enhances the effectiveness of the compliance risk by arranging risk assessments and identifies controls in place to mitigate identified risks.
• Works closely with the Businesses on new, existing services, products to analyze the risk elements and advise them on any actions needed.
• Promptly reports any suspicious activity and issues in due diligence standards to the Head of Compliance.
• Supports the Manager in any ad-hoc projects to promote the compliance culture within the BSF, during inspection visits (internal and external) to the bank or to fulfil any compliance reporting requirement from the senior management.
• Responsible to entertain the Internal and External Auditors and the regulator’s Inspectors professionally and tactfully during their inspection visits.
• Provides direction, guidance to his team on delivering the department’s responsibilities and arranges appropriate control self-assessment meetings and trainings for Compliance team.
• Ensures that all testing and monitoring are undertaken effectively and ensures all reports are submitted complete, accurately and on time.
• Develops and maintains comprehensive procedures to avoid any misunderstanding for the staff members involved.
• Responsible for keeping detailed records of all compliance testing and reviews, and provides timely and professional responses to all requests.
• Supervises Compliance officers work closely with the Businesses on new and existing services and products to analyze the risk elements and advises them on any actions needed.
• Ensures that all BSF standards and requirements are met by each member of the department.
• Reviewing related policies and procedures, documents, agreements, forms, terms and conditions, marketing materials and contracts.
• Provide advice to business line from regulatory prospective.

Validating implementation of related SAMA circulars and collected evidences as per compliance procedure manual.

Qualifications & Experience:

• Bachelor Degree in Finance or Business
• 8-10 years banking experience in related field
• 5-7 years within Compliance/Audit areas of the bank

Knowledge & Skills:

• Excellent understanding of the Retail, Wealth Management and High Net Work areas and products/services
• Excellent analytical and investigative skills
• Seasoned experience of writing policies and departmental documents in compliance with regulations
• Excellent analytical skills to interpret the regulations/banking laws of the Kingdom
• Good understanding of all the compliance fields
• Sound experience of meeting tight deadlines and working under pressure
• Excellent computer/Microsoft skills
• Sound experience of leading teams
• Good Project management skills