Head of Compliance & AML

Position Overview

Allied Cooperative Insurance Group (ACIG) is actively seeking a seasoned professional to fill the role of Head of Compliance & AML. This leadership position demands a profound knowledge of regulatory compliance, anti-money laundering (AML), and financial crime prevention strategies. The successful candidate will be responsible for steering the compliance function, enhancing the regulatory framework, and championing a culture rooted in ethics, integrity, and thorough compliance throughout the business.

Primary Duties

• Design and execute the company’s overall Compliance and AML strategies, frameworks, and yearly initiatives.
• Ensure the company aligns with all relevant laws, regulatory standards, and compliance requirements.
• Direct programs focused on AML, Counter-Terrorist Financing (CTF), and sanctions adherence.
• Stay updated on regulatory changes and discern their implications on the organization.
• Perform compliance risk evaluations and suggest viable risk mitigation strategies.
• Manage activities related to compliance monitoring, auditing, and reporting.
• Offer compliance-related consultations and directives to various business units and senior leadership.
• Act as the main point of contact with regulators, auditors, and external parties concerning compliance matters.
• Lead investigations into compliance violations and supervise the creation and implementation of corrective plans.
• Develop and deliver organization-wide compliance and AML awareness training programs.
• Compile and present reports for executive management, board committees, and regulatory bodies.
• Oversee, mentor, and grow the Compliance & AML team.

Qualifications and Experience

• Bachelor’s degree in Law, Finance, Business Administration, Risk Management, or closely related disciplines.
• Preferred professional accreditations include CAMS, ICA, CRCM, or comparable compliance certifications.
• Over 10 years of relevant experience within compliance, AML, financial crime prevention, or regulatory roles.
• At least 3 years experience in a managerial or leadership capacity.
• Prior work experience in the insurance sector is highly desirable.
• Comprehensive understanding of Saudi Insurance Authority regulations and AML/CFT standards.

Essential Skills & Competencies

• Expertise in regulatory policies and frameworks.
• Strategic and analytical thinking capabilities.
• Proven leadership and team management skills.
• High ethical standards and sound judgment.
• Risk assessment and mitigation proficiency.
• Decisive decision-making abilities.
• Effective stakeholder engagement and relationship management.
• Excellent communication and persuasive influence.
• Results-driven and goal-oriented approach.