Saudi Nationals Only - Compliance Officer and DMLRO - VP - Riyadh -

Job Description

The Senior Compliance Officer will be based in Riyadh, Saudi Arabia will provide support to Corporate & Investment Bank businesses conducted in the jurisdiction. The role will be at Vice President Level. The individual will report locally to the the Head of Compliance Riyadh Branch and will be responsible for the following:

• Performing the role of Senior Compliance Officer and Deputy Money Laundering Reporting Officer,.
• Support and maintain the regulatory relationship for Riyadh Branch and responding to regulatory notices and requests.
• Provision of pro-active advice to business management in the development of policies and procedures for the Riyadh Branch office, designed to achieve and ensure compliance with corporate and regulatory requirements, specifically SAMA and US rules (where applicable) and corporate policies such as the Code of Conduct.
• Promoting a strong Compliance culture throughout the Riyadh Branch office, assist in establishing Compliance priorities with senior management and communicating these priorities effectively.
• Conducting regular reviews to verify policies and procedures conform with the latest regulations, specifically ensuring the Compliance Manuals for Saudi Arabia is kept up to date.
• Attending the Riyadh Branch Compliance Committee, represent Compliance on Branch Management Committee, Local Risk Committee and Local Operating Committee reporting on Compliance priorities and issues.
• Assist in conducting the annual Compliance monitoring programme to verify policies and procedures conform with the latest regulations.
• Assist in the preparation of an Annual Compliance Report to the Branch Manager and SAMA.
• Assist in the preparation and delivery of a Branch compliance training and awareness programme.
• Identifying and investigating potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required.
• Assist in drafting the monthly Compliance report to Branch Management Committee as well as the monthly Country Scorecard.
• Advice in respect of handling of errors, client complaints, potential rule breaches, etc.
• Input into New Business Initiative Approvals involving business operations in Saudi Arabia, assessing Compliance/Regulatory issues/impact of proposed new products and services.
• Liaison with internal and external auditors and assist in managing responses and actioning compliance issues raised in audit reports & Control Self-Assessment reviews.
• In relation to the role of Deputy MLRO or Deputy Anti Financial Crimes Officer;
  • Support the coverage and coordination of detection and reporting of suspicious activities in relations to ML, TF and Commercial Concealment in line with local requirements.
  • Provide guidance on local Sanctions screening requirements and Oversee sanctions screening escalations. This includes responsibilities stipulated by firm standards for in-country compliance officers
  • Manage and work with relevant local and central teams to meet local requirements concerning Anti- Fraud including regulatory reporting as well as reporting fraud incidents to local authorities
  • Assist in conducting annual AML and Sanctions risk assessment for the legal entity per firmwide standard procedures.
  • Receive suspicious activity reports from Branch personnel and reporting to SAFIU, where appropriate, and preparing and submitting periodic reports on anti-money laundering and terrorist financing activities.
  • Keeping abreast of industry trends and ?hot issues? and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed.
  • Co-ordinating and working as part of the EMEA regional and global Compliance and Financial Crime Compliance teams.

J.P. Morgan is a global leader in financial services, providing strategic advice and products to the world?s most prominent corporations, governments, wealthy individuals and institutional investors. Our first-class business in a first-class way approach to serving clients drives everything we do. We strive to build trusted, long-term partnerships to help our clients achieve their business objectives.We recognize that our people are our strength and the diverse talents they bring to our global workforce are directly linked to our success. We are an equal opportunity employer and place a high value on diversity and inclusion at our company. We do not discriminate on the basis of any protected attribute, including race, religion, color, national origin, gender, sexual orientation, gender identity, gender expression, age, marital or veteran status, pregnancy or disability, or any other basis protected under applicable law. In accordance with applicable law, we make reasonable accommodations for applicants? and employees? religious practices and beliefs, as well as any mental health or physical disability needs.

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