Compliance Head
BAYAN
Total years of experience :15 years, 11 Months
Responsible for the compliance program design and enhancement, including strategy training, monitoring, auditing, identifying, solving and/or escalating legal compliance risks, and enforcement.
Drive and ensure a culture of ethics and compliance in assigned regions and lead efforts through cross-functional teams.
Advise all levels of employees and management with respect to ethics and compliance issues.
Ensure contract and process compliance with SAMA related rules and regulations, compliance statutes and codes of conduct.
Draft and/or guideline staff with complex new R&R Oversee the third party due diligence program, including clearing red flags.
Monitor compliance updates within the scope of responsibilities, benchmarking within industry and proposing options on compliance with the same to SAMA .
Assisting in identifying, documenting, and monitoring compliance risks and control points related to mutual fund activities.
• Providing compliance guidance to business partners designed to expand and enhance the compliance program for mutual funds.
Partnering with applicable business areas and outside service providers to provide timely advice and guidance regarding compliance with SAMA and regulations and internal policies and procedures.
Providing ongoing compliance support to the funds and the adviser.
• Facilitating regulatory examinations of the firm's Fund and Adviser affiliates.
• Monitoring performance of service providers and adherence to regulatory requirements;
• Assisting with the onboarding of new vendors and ongoing compliance with the Firm’s vendor policies.
Special projects as assigned.
• Advising the board (or governing body) on corporate governance principles and the implementation of governance programs and risk management frameworks.
• Developing, implementing, communicating and maintaining governance, risk and compliance policies, processes and procedures.
• Monitoring compliance by management with standing delegations from the board
• Ensuring effective information flows within the board and with and between board committees, and between non-executive directors and management.
• Preparing minutes and meetings (for example AGMs, other general meetings, director and committee meetings
Advance best practice in corporate governance
Define appropiate working practices of boards and managers within existing
legislation
Provide support for large and complex audits, examinations, reviews, and projects related to keeping the business line in compliance with regulatory issues and requirements, specific to: SAMA, KPMG, EY and PROMONTORY audit and exam testing
Manage audit requests and engagements as it relates to Collections and Recovery
Manages Centralized Issues Management (CIM) process for RPS Collections and Recovery
Drives issue resolution and root cause identification around CIM’s.
Coordinates CIM updates required around the process
Assign tasks and responsibilities to direct reports while monitoring workflow and performance and ensuring accurate and timely follow up
Drive regular audit updates within department to ensure alignment to audit findings and best practices
Drive reporting, monitoring, and tracking of issues, remediation, and resolutions
Work cohesively with Business Area Owners and Compliance counterparts to implement alternative solutions to mitigate or eliminate risks (may also require alignment and parallel coordination of initiatives with other areas of RPS including Risk and Operations)
Interface in a professional manner with Regulators, Corp Auditors, and others while representing the department
Perform work independently with minimal guidance and oftentimes under high levels of stress within compressed time frames
Provide guidance and direction to direct reports as necessary
Function as a stand-in for meetings, calls, etc. when management is unavailable
Provide regular and extensive updates of issues, workflow, and staffing to management
Ability to draft clear, logical, and complete audit responses on behalf of the business line in conjunction with Business Area Owners, that are measurable and attainable
September 2007 - March 2009 Key Responsibilities : Designed audit plans, objectives and scope of work in conjunction with senior auditors, assisted with overall execution of audit program and final report delivery. Spearheaded the audit process, monitored the audit timelines and mentored the audit team as necessary, thereby assumed the overall leadership for the smooth execution of plans via team empowerment. Established risk based audit plans, determined the direction and objective of proposed audit methods and developed audit procedures in alignment with organizational goals/ standards. Conducted regular inspection/safety audits and recommended corrective actions to ascertain compliance with safety standards and regulations Supervised appraisal and integrity of processes and systems to ensure that controls are adequate and effective in design and operation and as per policies/procedures and management objectives. Prepared flow charts, procedures/policies for internal audit, assigned staff and budgeting hours for audits, tracked the progress of audits and provide technical assistance to auditors for smooth execution of internal audits. Scrutinized the audit working papers for identification areas of improvement and provide recommendations to improve establishment's accounting and management practices. Tracked the audit progress and provided inputs to ensure holistic coverage of all audit aspects with specific thrust on key risks/concerns. Evaluated system effectiveness and performed professional audits in accordance with the approved audit program.
Key Responsibilities :
• Identifying root cause analyst issues of SCCD and recommending corrective actions to achieve organizational policies and procedures.
• Planning and coordinating the department activities in adherence to organizational policies and procedures, thereby monitoring progress of the staff by conducting internal and external questionnaire survey for scrutinizing the strengths and weaknesses of the department.
• Responding to inquiries and complaints from clients to ensure optimal levels of service and long term business relations.
• Demonstrating continuous effort to improve operations, decreasing turnaround times, streamlining work processes of various departments and working towards providing quality seamless customer service.
• Computing operational and maintenance cost estimates. Devising section budgets and effecting cost cutting measures in coordination with line managers to maintain adherence to the same and deliver timely/quality service.
• Performing monthly staffing analysis to innovate (FTE) full time equivalent for each department, thereby drafting report of the percentage of transaction defects to ensure the defect percentage is within the acceptable range.
• Analyzing and monitoring the work process of CCD department, thereby examining distressed departments and developing immediate/ long term solutions in an efficient and effective manner.
• Building good customer relationships, ascertaining that all requirements and requests are responded to in the highest professional manner.
• Reporting department performance trends, ensuring consistency, establishing policies/ procedures and coordinating communication of department results based on operational standards of the organization.
Key Responsibilities :
• Designed audit plans, objectives and scope of work in conjunction with senior auditors, assisted with overall execution of audit program and final report delivery.
• Spearheaded the audit process, monitored the audit timelines and mentored the audit team as necessary, thereby assumed the overall leadership for the smooth execution of plans via team empowerment.
• Established risk based audit plans, determined the direction and objective of proposed audit methods and developed audit procedures in alignment with organizational goals/ standards.
• Conducted regular inspection/safety audits and recommended corrective actions to ascertain compliance with safety standards and regulations
• Supervised appraisal and integrity of processes and systems to ensure that controls are adequate and effective in design and operation and as per policies/procedures and management objectives.
• Prepared flow charts, procedures/policies for internal audit, assigned staff and budgeting hours for audits, tracked the progress of audits and provide technical assistance to auditors for smooth execution of internal audits.
• Scrutinized the audit working papers for identification areas of improvement and provide recommendations to improve establishment's accounting and management practices.
• Tracked the audit progress and provided inputs to ensure holistic coverage of all audit aspects with specific thrust on key risks/concerns. Evaluated system effectiveness and performed professional audits in accordance with the approved audit program.
Trainings and Certification : • 2009: SAMBA Coop training for 10 weeks • 2009: Riyadh Coop training for 3 weeks