JPMorgan Compliance Overview
The Compliance function assists management and staff in fulfilling their duty of compliance. The function provides a broad range of regulatory and compliance services and advice to all areas of JPMorgan Chase worldwide. Services include regulatory analysis of transactions and activities, formulation of regulatory and control policy, assistance in risk assessment, and new product development and implementation, assistance in the education of staff in regard to compliance policy and procedure.
EMEA Compliance Coverage Strategy
The EMEA Compliance coverage strategy focuses on a three tiered coverage model. The coverage model requires:
ü Country expertise, the in-depth knowledge of the local regulatory environment, regulatory structures, local regulatory and market contacts, local market practice, industry groups, culture, language, etc.
ü Product expertise, the in-depth knowledge of a specific product/service, its structure, purpose, target clients, risks, deal/trade/process flow and settlement, exchanges, etc.
ü Core expertise, the in-depth knowledge and application of firm policy and regulatory requirements across multiple product, service and jurisdictions. Examples include Personal Investment, Chinese Walls, Licensing & Registration, Disclosure of Interest, Monitoring & Surveillance, etc.
The Compliance Officer located in Riyadh, Saudi Arabia will provide support to Corporate & Investment Bank businesses conducted in the jurisdiction. The role is Executive Director/Vice President level. The individual will report locally to the Branch Manager and functionally to the Head of Compliance for the Middle East & North Africa and will be responsible for the following:
ü performing the role of Compliance Officer and Money Laundering Reporting Officer, registered with SAMA;
ü maintain the regulatory relationship for Riyadh Branch and responding to regulatory notices and requests;
ü provision of pro-active advice to business management in the development of policies and procedures for the Riyadh Branch office, designed to achieve and ensure compliance with corporate and regulatory requirements, specifically SAMA and US rules (where applicable) and corporate policies such as the Code of Conduct;
ü promoting a strong Compliance culture throughout the Riyadh Branch office, establishing Compliance priorities with senior management and communicating these priorities effectively;
ü conduct regular reviews to verify policies and procedures conform with the latest regulations, specifically ensuring the Compliance Manuals for Saudi Arabia is kept uptodate;
ü manage the Riyadh Branch Compliance Committee, represent Compliance on Branch Management Committee, Local Risk Committee and Local Operating Committee reporting on Compliance priorities and issues;
ü conduct an annual Compliance monitoring programme to verify policies and procedures conform with the latest regulations;
ü prepare an Annual Compliance Report to the Branch Manager and SAMA;
ü assist in the preparation and delivery of a Branch compliance training and awareness programme;
ü identifying and investigating potential rule breaches, providing options available to manage and mitigate them and coordinating corrective action with other control functions as necessary/required;
ü prepare and present the monthly Compliance report to Branch Management Committee as well as the monthly Country Scorecard;
ü advice in respect of handling of errors, client complaints, potential rule breaches, etc;
ü input into New Business Initiative Approvals involving business operations in Saudi Arabia, assessing Compliance/Regulatory issues/impact of proposed new products and services;
ü liaison with internal and external auditors and assist in managing responses and actioning compliance issues raised in audit reports & Control Self Assessment reviews;
ü in relation to the role of MLRO, receiving suspicious activity reports from Branch personnel and reporting to SAFIU, where appropriate, and preparing and submitting periodic reports on anti-money laundering and terrorist financing activities, ;
ü keeping abreast of industry trends and “hot issues” and anticipate areas of focus and attention of regulators, keeping business management and Compliance colleagues informed (eg participation in local compliance officer network groups);
ü co-ordinating and working as part of the EMEA regional and global Compliance and Financial Crime Compliance teams
ü Written and spoken Arabic and English essential; Saudi Arabia national required
ü Strong knowledge of SAMA regulations and all related banking rules, guidelines and laws; previous interaction with SAMA helpful, but not essential;
ü Extensive banking experience with a good working knowledge of Treasury Services products;
ü Attention to detail and control/quality awareness; good organizational and planning skills; experience and capability in developing policies and previous as well as competency in compliance training;
ü Good interpersonal skills, especially the ability to communicate effectively at all levels, internally and externally, e.g. Regulators, Business Managers, Audit, Risk Management, Legal and other line of business and Compliance colleagues within the Region and globally.
SAUDI NATIONALS ONLY MAY APPLY
About J.P. Morgan’s Corporate & Investment Bank
J.P. Morgan’s Corporate & Investment Bank is a global leader across banking, markets and investor services. The world’s most important corporations, governments and institutions entrust us with their business in more than 100 countries. With $18 trillion of assets under custody and $393 billion in deposits, the Corporate & Investment Bank provides strategic advice, raises capital, manages risk and extends liquidity in markets around the world. Further information about J.P. Morgan is available at http://www.jpmorgan.com/
JPMorgan Chase & Co. offers an exceptional benefits program and a highly competitive compensation package. JPMorgan Chase & Co. is an Equal Opportunity Employer.