MLRO Assistant Manager

<div><p>Merak Capital is a leading Saudi-based investment firm, dedicated to empowering visionaries and fostering innovation across high-growth sectors. With a diverse portfolio spanning venture capital, private equity, credit, and an innovation platform, we drive transformative growth in the Kingdom and beyond.</p><h3>Role Description</h3><p>We are seeking an experienced and independent Assistant Manager – Money Laundering Reporting Officer (MLRO) to lead and oversee our firm’s AML, CTF, and financial crime prevention frameworks.</p><p>The MLRO will be responsible for establishing, maintaining, and strengthening AML/CTF controls across all asset management and fund activities. This role forms part of a newly segregated governance and risk structure and operates as an independent control function with direct access to senior management.</p><h3>Responsibilities</h3><h3>AML&CTF Oversight</h3><ul><li>Act as the designated MLRO in accordance with CMA requirements.</li><li>Develop and maintain the firm’s AML and CTF framework in line with applicable Saudi regulations.</li><li>Implement and oversee a risk-based approach to AML/CTF across products, funds, and investor segments.</li><li>Monitor adherence to internal AML/CTF policies and procedures.</li><li>Oversee client onboarding processes, including KYC, customer due diligence (CDD), and periodic reviews.</li><li>Implement enhanced due diligence (EDD) for high-risk clients, PEPs, and complex ownership structures.</li><li>Ensure proper identification and verification of beneficial owners.</li><li>Oversee sanctions screening and adverse media checks.</li><li>Ensure ongoing monitoring of client relationships and risk reassessments.</li></ul><h3>Monitoring&Reporting</h3><ul><li>Review and investigate unusual or suspicious activities.</li><li>Determine appropriate escalation and submit Suspicious Transaction Reports (STRs) where required.</li><li>Prepare periodic AML/CTF reports to senior management and the Board.</li><li>Maintain complete and defensible documentation and audit trails.</li><li>Conduct periodic AML/CTF risk assessments at firm and product levels.</li><li>Identify financial crime vulnerabilities across distribution channels and investor profiles.</li><li>Recommend and implement control enhancements where gaps are identified.</li><li>Support and manage AML-related regulatory inspections.</li><li>Design and deliver AML/CTF training programs for employees.</li><li>Promote awareness of financial crime risks across the organization.</li><li>Maintain training records and assessments.</li><li>Serve as the primary point of contact with the CMA and other competent authorities on AML matters.</li><li>Manage regulatory correspondence and responses related to AML/CTF.</li></ul><h3>Qualifications</h3><ul><li>Bachelor’s degree in Finance, Law, Accounting, or related field.</li><li>Professional certification preferred (e.g., CAMS, ICA Diploma in AML, ACAMS).</li><li>5-7 years of progressively responsible experience in AML, CTF, KYC, and relevant frameworks.</li><li>Strong experience in Risk-based AML methodologies, sanctions regimes, and screening systems.</li><li>Experience in a CMA-regulated environment is highly desirable.</li><li>Prior experience interacting with regulators on AML-related matters is a big plus.</li><li>Excellent communication and interpersonal skills.</li><li>Bilingual fluency in Arabic&English (reading, writing, and speaking).</li></ul></div>#J-18808-Ljbffr