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Manager & Senior Manager (Financial Crime Compliance)

Location: Riyadh, Saudi Arabia
Date Posted: Dec 14, 2023

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Company Overview

Alvarez & Marsal (A&M) is a global professional services firm with more than $2+ billion in revenues, +7,500 staff and over 70 offices worldwide, specializing in turnaround and interim management, performance improvement and business advisory services. A&M delivers specialist operational, consulting and industry expertise to management and investors seeking to accelerate performance, overcome challenges and maximize value across the corporate and investment lifecycles. Founded in 1983, the firm is known for its distinctive restructuring heritage, hands-on approach and relentless focus on execution and results.

A&M Culture

A&M is a fast-paced environment with a highly dynamic culture that emphasizes diversity and inclusion. We empower, coach and mentor our people and endorse meritocracy to develop skilled consultants who will grow with A&M to deliver tangible results and build long-lasting relationships, internally and externally. Our entrepreneurial culture celebrates independent thinkers and practitioners who positively impact our clients and shape our industry.

The collaborative, supportive environment and engaging work—guided by A&M’s core values of Integrity, Quality, Objectivity, Fun, Personal Reward and Inclusive Diversity—are the main reasons our people love working at A&M.

Inclusive Diversity runs through how we recruit, develop employees, conduct business, support clients, and partner with vendors. It is the A&M way.

The Team

Financial Crime Compliance (FCC) continues to challenge businesses globally and within Compliance at A&M, and a specialist team within Compliance is being assembled to deliver this expertise.

We bring a practical, results-oriented approach to delivering client needs led by our subject matter experts and drawing on the deep skills, diverse disciplines and experiences of our professionals who offer a unique ability to articulate complex findings in a clear and meaningful manner. We provide bespoke advisory services, training, risk and maturity assessments, and assurance reviews, build infrastructures and operationalize our recommendations in line with appropriate benchmarks.

The Role

A&M is expanding in EMEA, and we are seeking an FCC Manager / Senior Manager to join our Riyadh office. Working closely with the Senior Director and  Managing Director of Governance, Risk and Compliance, you will primarily serve clients in the Kingdom of Saudi Arabia together with the Middle East generally.

Working with clients across a range of industries and geographies, you will deliver innovative solutions to some of the most challenging FCC issues within clients, which have different organisational structures and cultures, risk appetites, budgets, many of which additionally have local and regional regulatory requirements.

You will lead assignments such as:

  • Conducting FCC reviews including risk assessments, maturity assessments, and assurance reviews and assisting clients in implementing the recommendations.
  • Building infrastructures and frameworks for addressing all FCC issues, including client related issues (e.g., sanctions. AML/CTF and Anti-bribery & corruption ).
  • Assisting clients in operationalizing FCC infrastructures (onsite line management work).
  • Assisting clients to remediate adverse regulatory findings or manage intense regulatory scrutiny.

Key Responsibilities

FCC Systems (Name and Transaction Screening, Transaction Monitoring, CDD)

  • Systems implementation, testing, and optimization, including the integration of advanced technologies, to improve effectiveness and efficiency.
  • Evaluate the client's needs, assess available transaction monitoring/Sanctions Screening solutions, and provide informed recommendations on system selection based on technical requirements, scalability, and regulatory compliance.
  • Oversee the evaluation, selection, and implementation of financial crime detection systems and technologies.
  • Validate and assess the effectiveness of the transaction monitoring system through pre-and post-implementation testing, ensuring rule accuracy, coverage, and the identification of potentially suspicious transactions.
  • Ensure the effectiveness of sanctions screening through the evaluation and optimization of fuzzy logic matching rules, system configuration, and threshold settings to generate alerts for algorithmically manipulated sanctioned names.
  • Utilize expertise in client lifecycle management to oversee the implementation of external vendor solutions, gather requirements, define project scope, and enhance processes and workflows for efficient client onboarding and ongoing due diligence.

FCC Governance

  • Develop comprehensive financial crime policies and procedures in accordance with regulatory requirements.
  • Support clients in the design, development and delivery of comprehensive AML, CTF, AB&C & Sanctions training management programs.
  • Develop Compliance Committees charter and Terms of Reference (ToR) documents.
  • Develop Management Information (MI) reporting templates, formats, and dashboards to effectively communicate compliance data and metrics to management committees.
  • Define, govern, and enhance the process and methodology for the ML/FT/Sanctions/ABC Enterprise Wide Risk Assessment (EWRA) to ensure comprehensive risk coverage.
  • Develop and write the Financial Crime Compliance (FCC) EWRA Report.

FCC Operations

  • Lead KYC remediation initiatives, ensuring compliance with regulatory standards and timely completion of Customer Due Diligence.
  • Manage alerts and investigations related to suspicious activities, conducting thorough reviews and escalating as necessary.
  • Develop and implement robust transaction monitoring programs to identify potential financial crime activities.

FCC Assurance

  • Assist with the development, implementation, and execution of risk-based Financial Crime Compliance Assurance plans.
  • Conduct all phases of testing to assess the design and operational effectiveness of the client’s financial crimes processes and controls.
  • Define test scopes, scripts and design specific testing steps for each applicable area for assessment.
  • Perform process walkthroughs and analyze transaction samples for testing, identifying areas for enhancement to policies, procedures, and controls.
  • Ensure quality assurance and testing (QA) procedures are in place to validate the effectiveness of financial crime compliance measures.

FCC Advisory

  • Utilize deep industry knowledge and actionable expertise to provide advisory services on financial crime risk management programs.
  • Assist clients in improving compliance, scaling operations, and controlling costs to mitigate financial crime risks.
  • Provide guidance on compliance with relevant laws, including CTF/Sanctions/ABC/AML/KYC issues, policies, and procedures, potentially liaising with local regulatory bodies

The Requirements

We are looking for people who have the following experience, knowledge, skills and abilities:

  • Minimum 7 years of relevant experience in Financial Crime Compliance, encompassing AML/CFT, Sanctions, Anti-Bribery & Corruption, and compliance. This experience should be acquired within the banking sector, Big 4 consultancies, or equivalent organizations.
  • Proven track record of at least 5 years in successfully delivering Financial Crime Compliance-related technology projects, specifically in the areas of payments screening, and transaction monitoring systems. Preferably, this experience should be gained within a large and complex financial institution.
  • Strong academic track record including a degree (or equivalent) in Accounting, Finance, Economics, Law (or other business related subject).
  • Possess a strong understanding of technology platforms in financial crime domains such as Nice Actimize, Oracle Mantas, Fircosoft, LexisNexis Bridger, Quantexa, Fenergo KYC and utilize these platforms to enhance compliance processes and workflows.
  • Strong understanding of the FCC expectations set by regulators and international organizations.
  • Knowledge and experience working in the MENA region would be considered an advantage.
  • Possession of industry-related certifications, such as CAMS (Certified Anti-Money Laundering Specialist) or an ICA diploma in AML (Anti Money Laundering).
  • Fluency and strong report writing skills in English are essential. Arabic language skills are desirable but not essential.

Diversity & Inclusion

A&M’s entrepreneurial culture celebrates independent thinkers and doers who can positively impact our clients and shape our industry. The collaborative environment and engaging work—guided by A&M’s core values of Integrity, Quality, Objectivity, Fun, Personal Reward, and Inclusive Diversity—are the main reasons our people love working at A&M. Inclusive Diversity means we embrace diversity, and we foster inclusiveness, encouraging everyone to bring their whole self to work each day. It runs through how we recruit, develop employees, conduct business, support clients, and partner with vendors. It is the A&M way.

Equal Opportunity Employer

It is Alvarez & Marsal’s practice to provide and promote equal opportunity in employment, compensation, and other terms and conditions of employment without discrimination because of race, color, creed, religion, national origin, ancestry, citizenship status, sex or gender, gender identity or gender expression (including transgender status), sexual orientation, marital status, military service and veteran status, physical or mental disability, family medical history, genetic information or other protected medical condition, political affiliation, or any other characteristic protected by and in accordance with applicable laws. Employees and Applicants can find A&M policy statements and additional information by region here.

Unsolicited Resumes from Third-Party Recruiters

Please note that as per A&M policy, we do not accept unsolicited resumes from third-party recruiters unless such recruiters are engaged to provide candidates for a specified opening and in alignment with our Inclusive Diversity values. Any employment agency, person or entity that submits an unsolicited resume does so with the understanding that A&M will have the right to hire that applicant at its discretion without any fee owed to the submitting employment agency, person or entity.

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