Dlocal17mo ago

Compliance Officer - Saudi Arabia

Riyadh · RiyadhRemoteFull Timemid

Legal & ComplianceCompliance SpecialistCompliance Officer

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Quick Summary

Requirements Summary

Implement and enhance transaction monitoring systems to detect and report suspicious activities within the Saudi Arabian context.

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Legal & ComplianceCompliance SpecialistCompliance Officer

Why should you join dLocal?

dLocal enables the biggest companies in the world to collect payments in 40 countries in emerging markets. Global brands rely on us to increase conversion rates and simplify payment expansion effortlessly. As both a payments processor and a merchant of record where we operate, we make it possible for our merchants to make inroads into the world’s fastest-growing, emerging markets.

By joining us you will be a part of an amazing global team that makes it all happen. Being a part of dLocal means working with 1000+ teammates from 30+ different nationalities and developing an international career that impacts millions of people’s daily lives. We are builders, we never run from a challenge, we are customer-centric, and if this sounds like you, we know you will thrive in our team.

We are looking for a Compliance Officer in Saudi Arabia to join our global team. This role will play a crucial role in banking relationships as well as with internal reports.

KYC Onboarding:

Oversee and manage the Know Your Customer (KYC) onboarding process for new customers and update existing ones in Saudi Arabia

Ensure compliance with local and international regulatory requirements related to customer identification and verification.

Transaction Monitoring:

Implement and enhance transaction monitoring systems to detect and report suspicious activities within the Saudi Arabian context.

Conduct periodic reviews and assessments to ensure the effectiveness of transaction monitoring processes.

AML/CFT Compliance:

Serve as the primary point of contact for AML/CFT matters in Saudi Arabia

Possess in-depth knowledge of Anti-Money Laundering (AML) and Counter-Terrorism Financing (CFT) regulations in Saudi Arabia

Develop and enforce AML/CFT policies and procedures tailored to the Saudi Arabian regulatory environment.

Regulatory Compliance:

Stay abreast of the regulatory landscape governing the payments industry in Saudi Arabia

Interpret and communicate regulatory changes, especially those related to AML/CFT requirements, to relevant stakeholders within the organisation.

Establish and maintain strong relationships with regulators in Saudi Arabia

Remittance Compliance:

Develop and implement compliance procedures specific to remittances and cross-border payments in Saudi Arabia.

Ensure adherence to regulatory requirements governing remittance services in the Saudi Arabian market.

Risk Assessments:

Conduct regular risk assessments to identify and mitigate potential compliance risks within the Saudi Arabian context.

Collaborate with other departments to implement risk mitigation strategies.

Reporting:

Report findings and other compliance matters related to AML/CFT to different stakeholders in Saudi Arabia in a clear and understandable manner.

Ensure timely and accurate reporting to internal and external stakeholders as required by Saudi Arabia regulations.

Training and Awareness:

Provide training to staff on compliance policies, procedures, and regulatory requirements, with a specific focus on AML/CFT in the Saudi Arabia market.

Foster a culture of compliance awareness within the organisation.

Bachelor's degree in a relevant field; additional certifications (e.g., CAMS, ACAMS, ICA) are a must.

4-6 years of legal experience in consultancy firms, AML, Transaction Monitoring, and KYC within the banking or fintech sector

Proven experience in a compliance role within the financial services industry, with a focus on payments and remittances.

Hands-on experience in building or implementing compliance-related automations (e.g., workflows, alerts, reporting systems)

In-depth knowledge of KYC processes, transaction monitoring, and AML/CFT regulations in Saudi Arabia

Familiarity with Saudi Arabian regulatory frameworks for the payments industry.

Experience in engaging with regulators in Saudi Arabia and maintaining positive relationships.

Strong analytical and problem-solving skills.