SAMA Regulatory Compliance Consultant

DESCRIPTION:

Position Summary

We are seeking a highly experienced and detail-oriented SAMA Regulatory Compliance Consultant to join our team. The ideal candidate will possess comprehensive knowledge of all Saudi Central Bank (SAMA) regulations applicable to financial institutions, fintech companies, insurance entities, and payment service providers operating in the Kingdom of Saudi Arabia.

The consultant will serve as the primary regulatory liaison and subject matter expert, responsible for end-to-end implementation of SAMA compliance frameworks  from initial gap assessment through to full regulatory operationalization. This individual will work closely with internal stakeholders, senior management, business units, and SAMA directly to ensure timely and complete compliance across all applicable regulatory domains.

End-to-End Coordination & Implementation

The consultant will own and drive the full compliance lifecycle across all phases, coordinating closely with all relevant internal and external parties:

• Conduct comprehensive regulatory gap assessments against all applicable SAMA frameworks and circulars
• Develop and manage detailed project plans for regulatory implementation with clearly defined milestones and ownership
• Coordinate cross-functionally with IT, Risk, Legal, Operations, Finance, and Business units to drive implementation activities
• Act as the single point of contact for all SAMA-related regulatory correspondence, submissions, and inspections
• Lead preparation, review, and submission of all regulatory filings, returns, and compliance reports to SAMA
• Facilitate regulatory readiness reviews, internal audits, and mock inspections prior to SAMA examinations
• Track and monitor implementation progress, escalate blockers to senior management, and ensure deadlines are met
• Maintain a comprehensive regulatory change management process to track new circulars, updates, and SAMA guidance
• Train and coach internal teams on SAMA regulatory requirements and compliance obligations
• Maintain complete documentation, evidence repositories, and compliance dashboards for regulatory oversight

Required Regulatory Experience

Candidates must demonstrate hands-on expertise in implementing and managing compliance across the following SAMA regulatory frameworks:

1. Banking & Prudential Regulations

• SAMA Banking Control Law and Implementing Regulations
• Capital Adequacy Framework (Basel III / SAMA Pillar I, II & III requirements)
• Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR)
• Large Exposures Framework and Credit Risk Guidelines
• SAMA Leverage Ratio Requirements
• Internal Capital Adequacy Assessment Process (ICAAP)

2. Anti-Money Laundering & Counter-Terrorism Financing (AML/CTF)

• SAMA AML/CTF Guidelines and Compliance Framework
• Anti-Money Laundering Law (Royal Decree M/20) and its implementing regulations
• FATF Recommendations as implemented under SAMA guidance
• Customer Due Diligence (CDD), Enhanced Due Diligence (EDD), and KYC requirements
• Suspicious Transaction Reporting (STR) and regulatory reporting to SAFIU
• Sanctions compliance and PEP screening requirements
• AML Program design including policies, controls, and training

3. Cybersecurity & Technology Regulations

• SAMA Cybersecurity Framework (CSF) — all five domains
• SAMA Cloud Computing Framework
• SAMA Technology Risk Guidelines
• SAMA Outsourcing & Third-Party Risk Management Guidelines
• Business Continuity Management (BCM) and Disaster Recovery (DR) requirements
• SAMA IT Governance and Data Management Standards

4. Open Banking & Payment Regulations

• SAMA Open Banking Framework — Phase 1 (Data Sharing) & Phase 2 (Payment Initiation)
• SAMA Payment Services Provider (PSP) Regulations
• SAMA Stored Value Facilities (SVF) Rules
• National Payments Systems Law compliance
• SARIE (Saudi Arabia Real Time Gross Settlement) system requirements
• SADAD and Mada network compliance obligations

5. Consumer Protection & Conduct Regulations

• SAMA Consumer Protection Framework
• Principles of Conduct and Work Ethics for the Financial Sector
• SAMA Responsible Lending Guidelines
• Complaints management requirements and SLA obligations
• Transparency and disclosure requirements for financial products

6. Insurance Sector Regulations

• Insurance Control Law and SAMA Insurance Regulations
• Cooperative Insurance Companies Control Law
• SAMA Actuarial and Solvency Margin Requirements
• SAMA Motor Vehicle Insurance Regulations
• Health Insurance requirements in coordination with CCHI

7. Risk Management Regulations

• SAMA Enterprise Risk Management (ERM) Framework requirements
• SAMA Operational Risk Management Guidelines
• SAMA Credit Risk Management Guidelines
• SAMA Market Risk Guidelines
• Model Risk Management guidance

8.Corporate Governance

• SAMA Corporate Governance Guidelines for Banks
• SAMA Fit & Proper Requirements for Board Members and Senior Executives
• SAMA Remuneration Principles and Standards
• Board and committee structure and charter requirements

Qualifications & Requirements

Education

• Bachelor's degree in Finance, Law, Economics, Accounting, or a related field (required)
• Master's degree or MBA with a focus on Regulatory Compliance or Risk Management (preferred)
• Professional certifications: CAMS, CRCM, ICA, CRISC, CISA, or equivalent (highly preferred)

Experience

• Minimum 8 years of experience in regulatory compliance within the Saudi Arabian financial sector
• Demonstrated track record of end-to-end SAMA compliance implementation across multiple regulation domains
• Prior experience working directly with SAMA as a liaison or during regulatory examinations
• Experience in financial institutions, fintech, insurance, or payment service companies regulated by SAMA
• Strong background in regulatory project management, including cross-functional stakeholder coordination

Skills & Competencies

• Deep, current knowledge of the full SAMA regulatory landscape and circular updates
• Excellent Arabic and English communication skills — written and verbal
• Strong analytical and problem-solving skills with the ability to translate complex regulations into actionable plans
• Highly organized with the ability to manage multiple concurrent regulatory workstreams under tight deadlines
• Proven ability to influence and collaborate across all levels of an organization, including C-suite
• Proficiency with compliance management systems, GRC tools, and regulatory reporting platforms

Riyadh