Summary
Malaa is hiring a Compliance & AML Specialist in Riyadh to support day-to-day compliance and AML/CTF activities for its payment operations. The role includes monitoring SAMA requirements, conducting compliance reviews and control testing, and supporting regulatory submissions and correspondence. Responsibilities also include overseeing KYC, sanctions screening and transaction monitoring, preparing suspicious activity assessments, and coordinating financial-crime matters with internal teams. Applicants need a bachelor’s degree and 1–2 years of experience; experience in a similar sector is preferred if possible.
The posting
As published on malaa.tech. Pulled from the employer's site and shown as they wrote it.
The Compliance & AML Specialist supports the Company’s day-to-day Compliance and AML/CTF activities and helps ensure compliance with applicable SAMA requirements, internal policies, and regulatory obligations relating to its payment activities.
Compliance
- Monitor compliance with applicable SAMA regulations, circulars, license conditions and internal policies.
- Monitor compliance with applicable SAMA regulations, circulars, license conditions, and internal policies, and maintain the regulatory obligations register.
- Support the Compliance Monitoring Plan, conduct reviews and control testing, and follow up on corrective actions until closure.
- Review new products, services, customer journeys, operational changes, customer agreements, disclosures, policies, procedures, and marketing materials.
- Support SAMA regulatory reports, responses, and information requests, and manage submissions and correspondence through eSAMA, RMS, SAMA Care, and other applicable portals.
- Support SAMA NOC requirements, including identifying when an NOC is required, preparing submissions, and following up until closure.
- Monitor customer protection, complaints handling, outsourcing, and third-party compliance.
- Escalate material breaches, incidents, and regulatory risks to the Compliance and AML/CTF Manager.
AML/CTF
- Support the implementation and maintenance of the AML/CTF and sanctions framework.
- Oversee KYC, customer due diligence, enhanced due diligence and customer risk classification.
- Monitor sanctions, targeted financial sanctions and PEP screening controls.
- Oversee transaction-monitoring alerts, investigations and unusual activity escalations.
- Prepare suspicious activity assessments for review by the Compliance and AML/CTF Manager.
- Support the Compliance and AML/CTF Manager in regulatory reporting and communication with the Saudi Financial Intelligence Unit.
- Conduct quality assurance reviews over KYC, screening and transaction-monitoring processes.
- Coordinate with Fraud, Risk, Cybersecurity, Operations and Customer Care on financial crime matters.
- Support periodic AML/CTF risk assessments and follow up on identified actions.
Management and Reporting
- Coordinate day-to-day Compliance and AML activities.
- Prepare periodic reports for the Compliance and AML/CTF Manager and relevant committees.
- Support Compliance and AML training and awareness.
- Maintain complete Compliance and AML records and supporting evidence.
Bachelor’s degree.
1–2 years of experience.
Experience in a similar sector (if possible)