Compliance Officer (Riyadh)

at  Avana Companies

MISSION:

The Compliance Officer will ensure the financial transactions, business activities and general operations adhere to the principles of Shariah law, including compliance oversight, policy development, auditing and risk management, stakeholder communication and ethical advocacy.

QUALIFICATIONS:

• Bachelor’s degree in Business, Finance, or a related field. Master’s degree preferred.
• Professional Certificate in Islamic Finance (PCIF) Certification
• Proven experience in a similar leadership role, with a track record of successfully implementing technology strategies.
• Strong technical compliance and lending knowledge and understanding of legal requirements, regulations and Sharia Lending practices
• Excellent leadership and management skills, with the ability to motivate and inspire a team.
• Strong business acumen and the ability to align technology initiatives with organizational goals.
• Exceptional problem-solving and decision-making skills, with a strong attention to detail.
• Excellent communication and interpersonal skills, with the ability to effectively collaborate and communicate with stakeholders at all levels.
• Proven ability to manage multiple projects and priorities in a fast-paced, dynamic environment.
• Strong strategic thinking and planning skills, with the ability to anticipate and mitigate potential risks and challenges.
  Note: This job description is not intended to be all-inclusive. The Compliance Officer may be required to perform other related duties as requested by the management team

• Ensures that the organization complies with all relevant laws, regulations, and industry standards applicable to its operations including AML, KYC requirements
• Acts as primary liaison between the organization and regulatory authorities, industry associations, and other external stakeholders.
• Scrutinizes contracts, agreements, and business practices to ensure they are free from interest (riba), uncertainty (gharar), speculation (maisir), and unethical investments.
• Develops and implements policies and procedures that align with Shariah principles and regulatory requirements. This will involve creating guidelines for permissible investments, ethical business practices, and customer interactions that adhere to Islamic finance principles.
• Monitors the organization’s activities to detect any violations of laws, regulations, or internal policies. Investigates potential breaches, documenting findings, and reporting them to senior management and regulatory authorities as required.
• Provides training and educational sessions to employees to ensure they understand Shariah compliance requirements and their implications for business operations.
• Audits and monitoring activities to assess the organization’s compliance with Sharia principles. This involves reviewing financial records, conducting on-site inspections, and investigating any potential breaches of Sharia compliance.