Compliance Director

About this role

Business Unit Overview:

BlackRock's Compliance Department protects BlackRock’s reputation and provides client focused advice. It understands, challenges and advises on the impact of regulation in our business, with the objective of:

• Actively participating in business decisions to champion our clients’ interests and assist the business to translate Compliance into their daily work;
• Having client interests at the center of everything we do;
• Cultivating and enhancing the compliance culture within BlackRock;
• Providing thought leadership on the impact and implementation of regulation;
• Developing and fostering excellence within the Compliance team;

Role Description:

A new and exciting opportunity has arisen to join BlackRock’s EMEA Compliance Advisory team principally covering the build out of a comprehensive investment management franchise in the Kingdom of Saudi Arabia (KSA) supporting the continued growth of the business in the MEA region.

This position will complement an existing team of expert compliance professionals based in the MEA region and will report to the Middle East Head of Compliance based in London although there will be an additional reporting line into the EMEA Head of Compliance. Our ideal candidate will have at least six years of relevant asset management and capital markets experience within a leading investment/fund manager.  Experience with regulatory obligations across the broader MENA region will be a distinct advantage.

The successful candidate will exhibit strong partnership and relationship management skills. The strength of character to offer positive challenge will be essential, as will be the ability to engage successfully with stakeholders at all levels of the business. A highly motivated self-starter, the successful candidate will demonstrate sound judgment, excellent technical and regulatory knowledge, a strong team ethic, combined with high energy, enthusiasm, resilience, tenacity, diplomacy and relationship management skills.

Key Responsibilities:

• Identifying, understanding, and advising on all regulations relating to investment management activities undertaken in our Riyadh office, monitoring all regulatory risks and potential compliance breaches while ensuring internal policies and procedures take account of the changing regulatory landscape. Liaising with portfolio managers, dealers and other investment staff on regulatory matters including the eligibility of instruments within portfolios and the application of BlackRock’s compliance policies, e.g., trade crosses, error correction, fair allocation, best execution, inside information and wall-crossings and short selling,
• Liaising with portfolio managers and our Global Capital Markets team on regulatory matters including advising on application of Information Barrier policy, Restricted List and regulatory requests for information.
• Working as part of a global team responsible for BlackRock’s information barriers, policies and procedures and restricted list processes.
• Working with global counterparts in the US and EMEA to ensure a level of consistency globally, leveraging best practice wherever possible.
• Delivering periodic compliance training to our businesses on matters including but not limited to market abuse, information barriers, and conflicts of interest.
• Provide support on re-allocation requests and internal crossings. Perform all relevant regulatory reporting and liaising with CMA and checking that all regulatory returns and ad hoc notifications have been submitted to the CMA and KSA regulatory authorities on a timely basis.
• Support the ongoing development a Regulatory Risk Framework outlining any requirements and ensuring suitable controls are in place.
• Supporting on the review and approval of advertising and marketing materials for distribution in KSA. This will involve having a detailed understanding of marketing rules as well as digital marketing.
• Be a senior point of contact with the MEA regulators (CMA, SAIGA, DFSA, SCA) and maintain positive relations with external stakeholders.
• Timely escalation of regulatory matters to the Head of Middle East Head of Compliance.
• Strengthening of compliance controls and the embedding of a compliance culture through reviews, guidance, advice and stakeholder engagement.
• Assisting and advising senior management in identifying and mitigating the compliance risks facing the Firm and designing and implementing policies, procedures, systems and controls that will enable the Firm to comply with the legislation in KSA.
• Provide reports on a regular basis and, as directed or requested, keep senior management informed of the operation and progress of Compliance efforts.
• Establishing and maintaining the firms’ files and registers in relation to: controllers; senior management apportionment; authorised individuals; breaches; complaints; conflicts identification and management, marketing materials; clients, regulatory returns and notifications to the CMA.
• Contributing to the creation of management reporting and communication on Compliance matters to senior management, corporate and/or fund boards and BlackRock business stakeholders.
• Providing advice on the anticipation, impact assessment and response to regulatory development;
• Designing and delivering effective regulatory training initiatives to the business.
   

Knowledge / Experience:

• Minimum of 10 years’ experience in compliance.
• Experience with regulatory expectations especially with the CMA, Dubai Financial Services Authority and other regional regulators is advantageous.
• A strong understanding of regulation in KSA and more broadly in the GCC.
• Skills/experience in investment advice, investment management and investment products.
• Excellent written and spoken English required; proficiency in Arabic a plus
• High levels of  good communication skills
• Integrity and professionalism; must be a team player
• Must be independent and a self-starter, with excellent organisational skills and ability to work independently to tight deadlines
• Strong business presentation, writing, communication and interpersonal skills.
• Extensive experience within a control function within the asset management industry, ideally within Compliance or Legal.
• Demonstrable ability to influence a highly-performing internal client base by delivering timely, credible, accurate and value-added advice.
• High levels of enthusiasm for supporting an innovative product development, marketing and distribution strategy.
• Highly effective written and verbal communications skills.
• Consistent ability to demonstrate high standards of professional accuracy and excellent attention to detail.
• Self-motivation, the ability to work autonomously and high energy levels.
• The technical ability and mindset to deliver a solutions-driven approach and the judgment to use this in appropriate circumstances.
• Excellent organisational skills with ability to prioritise workloads, progress multiple tasks and adhere to deadlines.
• Ability to collaborate effectively both within the team and across functions.
• The strength of character to offer healthy challenge.
• High degree of familiarity with regulatory environment ex-UK or a genuine desire to develop such knowledge.
• As part of the broader EMEA Compliance Department, broader advisory experience across the asset classes and covering a range of jurisdictions would be a distinct advantage.
• Language skills would be a distinct advantage.
   

Qualifications

• Significant financial services experience with a focus on regulation;
• Educated to degree level, possibly with a professional qualification e.g., ACA, CFA, IMC;
• Strong working knowledge of CMA Rules and other Middle East regulatory requirements;
• Self-starter.  Ability to drive forward work plans under little supervision;
• Collaborative team player;
• Strong written/oral communication;
• Ability to prioritise workloads and adhere to deadlines;
• High standard of accuracy and excellent attention to detail;

Our benefits

To help you stay energized, engaged and inspired, we offer a wide range of employee benefits including: retirement investment and tools designed to help you in building a sound financial future; access to education reimbursement; comprehensive resources to support your physical health and emotional well-being; family support programs; and Flexible Time Off (FTO) so you can relax, recharge and be there for the people you care about.

Our hybrid work model

BlackRock’s hybrid work model is designed to enable a culture of collaboration and apprenticeship that enriches the experience of our employees, while supporting flexibility for all. Employees are currently required to work at least 4 days in the office per week, with the flexibility to work from home 1 day a week. Some business groups may require more time in the office due to their roles and responsibilities. We remain focused on increasing the impactful moments that arise when we work together in person – aligned with our commitment to performance and innovation. As a new joiner, you can count on this hybrid model to accelerate your learning and onboarding experience here at BlackRock.

About BlackRock

At BlackRock, we are all connected by one mission: to help more and more people experience financial well-being.  Our clients, and the people they serve, are saving for retirement, paying for their children’s educations, buying homes and starting businesses. Their investments also help to strengthen the global economy: support businesses small and large; finance infrastructure projects that connect and power cities; and facilitate innovations that drive progress.

This mission would not be possible without our smartest investment – the one we make in our employees. It’s why we’re dedicated to creating an environment where our colleagues feel welcomed, valued and supported with networks, benefits and development opportunities to help them thrive.

For additional information on BlackRock, please visit @blackrock | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

BlackRock is proud to be an Equal Opportunity Employer.  We evaluate qualified applicants without regard to age, disability, race, religion, sex, sexual orientation and other protected characteristics at law.