Compliance Specialist

Job DescriptionThe Compliance and AML Specialist is responsible for supporting the organization's adherence to all regulatory requirements, with a special focus on SAMA regulations and Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF) framework. This entry-level role involves assisting with regulatory submissions, conducting initial customer due diligence, monitoring transactions, and supporting various compliance and AML programs.The specialist will work closely with the compliance team to ensure the organization maintains high standards of integrity and adheres to all applicable laws and regulations.Key ResponsibilitiesRegulatory Reporting: Assist in preparing and submitting regular (annual, quarterly) and ad-hoc reports to SAMA, ensuring accuracy and timeliness.SAMA Communications: Help manage communications with SAMA by preparing draft responses to inquiries and organizing required documentation.Customer Due Diligence (CDD/KYC): Conduct initial Customer Due Diligence (CDD) and Know Your Customer (KYC) checks for new clients, ensuring all required documentation is collected and verified according to policy.Transaction Monitoring: Review and analyze alerts from the transaction monitoring system to identify potentially suspicious activity, escalating cases for further investigation as needed.Sanctions Screening: Perform screening of customers against local and international sanctions lists, as well as Politically Exposed Persons (PEP) lists, and document the results.Regulatory Database: Assist in maintaining an up-to-date database of relevant laws, regulations, and circulars, particularly those issued by SAMA related to compliance and AML/CTF.Internal Reporting: Help compile data for quarterly compliance and AML reports for senior management.Investigations Support: Provide support in gathering information for investigations into suspicious cases and assist in drafting Suspicious Activity Reports (SARs).Program Support: Support the development and implementation of the overall compliance and AML program and initiatives.Training & Awareness: Assist in preparing materials for compliance and AML training and awareness campaigns for employees.On-site Inspections: Support the team in preparing for on-site inspections by SAMA or other regulatory bodies by organizing files and information.General Tasks: Perform any other assignments as entrusted by the manager of Compliance.QualificationsEducation: Bachelor’s degree in business administration, law, or a related field.Experience: 0-2 years of experience in a compliance, AML, or a related role, preferably within the financial services sector.Knowledge: Basic understanding of SAMA regulations and Saudi Arabian AML/CTF laws is a plus.Skills:Strong attention to detail and accuracy.Good analytical and problem-solving skills.Excellent communication skills in both Arabic and English.Ability to handle confidential information with discretion.Proficient in Microsoft Office Suite (Word, Excel, PowerPoint).