Job Summary

Responsible for managing and enhancing the transaction monitoring framework to ensure timely detection, investigation, and escalation of suspicious activities in line with SAMA regulations and internal AML policies. The role oversees monitoring controls, alert management, quality assurance, and team performance to mitigate money laundering and terrorist financing risks

JOB-SPECIFIC Responsibilities:

• Own and operate the AML/CTF monitoring function end to end, including customer acceptance, KYC, CDD, EDD, transaction monitoring, investigations, escalation, and ongoing risk management.
• Review customer onboarding and periodic KYC updates and obtain the required approvals for high-risk customers, PEPs, complex ownership structures, UBOs, and source of funds/source of wealth assessments, with clear documentation and audit-ready records.
• Design, maintain, review, test, and enhance transaction monitoring scenarios, rules, thresholds, and logic to ensure effective detection of money laundering and terrorist financing risks and continuous improvement of monitoring quality.
• Oversee alert handling and investigations lifecycle, ensuring timely review, sound analysis, proper documentation, and structured escalation of suspicious cases to the AML/CTF reporting function for submission to the FIU.
• Review and update customer risk ratings (low, medium, high) based on relevant internal and external risk factors, changes in customer profile or behavior, regulatory or legal developments, and other material risk indicators, ensuring appropriate approvals, governance, and documentation.
• Lead AML/CTF risk assessments covering customers, products, services, delivery channels, geographic exposure, and the size and nature of Hala’s activities, and ensure that monitoring, due diligence, and control measures remain aligned with the identified risk levels.
• Act as the primary AML/CTF advisor to relevant internal stakeholders, including Business, Product, Operations, Technology, Risk, Legal, Compliance, Finance, Customer care, and senior governance committees, providing guidance on initiatives, changes, and AML/CTF risk mitigation measures.
• Lead AML-related systems enhancements and data quality improvements in coordination with technology and operations teams, including automation, optimization of workflows, and reduction of false positives.
• Prepare and oversee periodic AML/CTF reports, including weekly, monthly, quarterly, semi-annual, and annual reports, ensuring meaningful metrics, trends, and management information.
• Represent the organization in AML/CTF matters with regulators, internal audit, and external reviewers, including inspections, information requests, and follow-up actions.
• Develop and execute the annual AML/CTF plan for the unit, including objectives, initiatives, KPIs, and ongoing performance monitoring.
• Lead, manage, and develop the AML/CTF team by allocating tasks, managing workloads, evaluating performance, and delivering targeted training and awareness programs.
• Continuously monitor regulatory developments and industry typologies, translating them into practical enhancements to AML/CTF policies, controls, monitoring, and investigations.
• Perform any additional AML/CTF-related duties assigned by the Head of AML/CTF or MLRO.