About the Compliance Group

The Compliance Group is one of the bank’s advisory and supervisory functions, which effectively contribute to the protection of the bank, its staff and customers from any risks towards its reputation and the risks of non-compliance. The Compliance Group was establish at Al Rajhi Bank (ARB) back in 2005, that also include the Anti-money Laundering and combating terrorist financing and since has developed into its current Structure. Its responsibility to define, evaluate, provide advice & guidance and performs monitoring, and report risks of money laundering, terrorist financing and non-compliance in the bank that can lead to legal or administrative penalties, or financial losses, or could lead to the damaging of the bank’s reputation as a result of failure to comply with the laws, rules and regulations and the code of conduct or professional practices.

Organizational Structure and Dependency

The Compliance Group at ARB, is established in accordance to the latest domestic and international standards, the Group reports administratively and to the CEO Functionally to the Board and Audit Committee (BACC) which is delegated by the Board of Directors that provides its independence of its decisions and its ability to influence the highest levels in the bank.

The Compliance Group constitute of several departments and units to carry out all its required functions:

Compliance Group  

The role and functions of the Compliance Group

The Compliance Group plays key roles and performs key functions at the bank to maintain its credibility, reputation, the interests of shareholders and depositors and provides protection from violations, including the following:

  • Avoid the dangers of non-compliance, particularly regulatory, reputational and the risk of financial penalties
  • Reinforce relationships with regulators
  • Define mechanisms and frameworks to fight crime particularly these that deal with anti-money laundering and terrorist financing
  • Maintain banking values and best professional practices
  • Identify, measure, and address the risks of non-compliance that affect the current organization of the bank and assess the potential impact
  • Follow-up on what is issued by domestic and foreign regulatory bodies and ensure they are observed and applied in all the work and activities of the bank
  • Provide advice and counseling, and explain and clarify the rules, regulations, laws and standards issued by the regulatory authorities while working closely with the bank's departments and supporting them in daily work
  • Prepare and implement of the bank’s annual compliance program
  • Create the underlying data, which includes all the instructions issued by regulators
  • Submit periodic reports to bank management and to regulators
  • Develop, implement and maintain a comprehensive annual compliance training plan covering all the bank’s groups and employees
  • Investigate cases of suspected money-laundering operations and the financing of terrorism and inform the concerned authorities
  • Our Vision, Mission and Values

    Our Vision ​

    To become a world-class compliance function.

    Our Mission

    Create a compliance environment according to the latest local and international standards to help the bank from non-compliance risks, specifically regulatory, reputational and the risk of financial penalties

    Our Values

    • Integrity & Transparency
      In line with the bank’s values, all Compliance Group employees must apply the highest ethical and professional standards
    • Passion to Serve Our Customers
      Aim to respond quickly to bank customers and protect them from legislative risks that may result from their banking transactions
    • Solution Orientated
      The compliance group is committed to provide solutions that facilitate work for all bank and help to achieve their goals and meet the regulatory requirements at the same time
    • Innovativeness
      The Compliance Group works to nurture imagination and foster creativity for better results
    • Meritocracy
      We work to build an effective team capable of carrying out duties professionally to help the bank avoid the risk of non-compliance
    • Care for Society
      Contribute to society through the protection of the bank and its employees and customers from the risks of non-compliance, money laundering and terrorism financing , which in turn protects the community and the country as a whole
  • Bank compliance environment
  • Al Rajhi Bank's Compliance Group Program