Head of Compliance

Wise

Key Responsibilities:

• Oversight of all regulatory developments in scope of Wise s operations in Saudi, working with internal teams for appropriate awareness and implementation of Saudi regulatory framework requirements.
• Design and manage the financial crime risk management framework, addressing risks specific to Wise product offering in the region.
• Maintain our regulatory licence and applications in Saudi and act as the Regulatory liaison owning all regulatory reporting processes including the suspicious Activity Reporting (SAR/STR) process, managing interactions with the Financial Intelligence Unit (FIU), regulatory queries and feedback
• Ensure appropriate training to the company senior management and the board of directors on the AML/CFT and other regulatory matters as applicable.
• Establish risk-based procedures for customer due diligence (CDD) and enhanced due diligence (EDD), and act as the point of escalation for high-risk customer approvals

Governance and Advisory:

• Localising the global compliance policies including AML policy and KYC/CDD guidelines and updating them as required pursuant to new developments in regulations in the region.
• Verify and monitor the existence of relevant controls related to the integrity and quality of the information transmitted to the FIU within the framework of the SAR reports.
• Report to the Board of Directors or equivalent on the health of financial crime and regulatory compliance, and advise the board with any emerging issue within the compliance program.
• Build trust with our regulator: manage and coordinate meaningful reporting internally and externally, respond to information requests, and proactively communicate product changes and notifiable events.

Monitoring & Testing:

• Ensure the effectiveness of the compliance programme through regular testing and monitoring.
• Regularly assess the money laundering and terrorist financing risk management and corresponding controls as well as the effectiveness and design of these measures reduce these risks.
• Review & authorise relationships with high-risk customers as required.
• Develop systems to track and monitor our regulatory and financial crime risks, compliance with regulatory requirements and internal policies.
• Implement systems and key risk indicators (KRIs) to track and monitor our regulatory and financial crime risks effectively.

This role will give you the opportunity to:

• Develop an in-depth knowledge of Wise s business and get to know many teams across the company as you liaise with them to help them understand the regulatory framework and bring together the information that our regulators need.
• Help keep compliance right at the heart of our product developments and new initiatives by horizon-scanning for new regulatory developments and sharing these with the teams.