Associate Director – Compliance
Assist the Risk and Compliance Director in developing, administering and monitoring internal policies and procedures to ensure compliance with applicable legislation, regulation and licence requirements. Monitor and control the Compliance Review Programme, utilising available resources within the team to provide an efficient service. Act as Nominated Officer whenever necessary in the absence of the MLRO.
The responsibilities
- Assess the risk ratings and risk criteria that should be in operation within the firm, updating as necessary against GFSC and other relevant regulatory requirements, ensuring the information required to complete the risk profiling spreadsheet is maintained and meets current standards.
- Regularly assess country risk profiles, checking with external and internal data sources to ensure we have up to date information.
- Collate information received from Reviewers, ensuring that remedial action points are accurately categorised under the firm’s RAG system and outstanding issues are tracked, providing advice on rectification, while alerting the Risk and Compliance Director to any problems or concerns as necessary. Provision of a weekly report to Managers and Directors along with a substantive quarterly report to the Board of Directors, noting any themes and trends.
- Maintain Breaches Registers and monitor progress towards resolution, providing advice on rectification. Alert the Risk and Compliance Director to any repeated breaches and recommend appropriate action. Provision of a quarterly report for the Board of Directors.
- Monitor and collate information from the periodic AML/CFT/CPF and Admin reviews, new client reviews, cold review and spot-check programmes, bringing any concerns to the attention of the Risk and Compliance Director and recommendations for improvement.
- Action Suspicious Activity Reports in the absence of the MLRO, ensuring that procedures relating to receipt are followed, reasons for decisions made are documented and prompt disclosure is made to the FIU, if appropriate.
- Provide recommendations to the Risk and Compliance Director regarding introduction of or amendments to our office forms, checklists and guidance notes.
- Day to day management of the team to include monitoring the quality of work, provision of training and guidance, holding regular meetings to discuss relevant issues; collate ideas and develop best practice and performance management and development.
- Review new business packs and trigger event packs submitted to the department for approval. Carry out necessary investigations and checks as appropriate. Document decision to approve having established that all current requirements and procedures have been met.
- Assist in any other relevant duties as requested by the Risk and Compliance Director.
You
- Demonstrated in-depth technical knowledge gained at a senior level with a proven track record of delivering excellent service
- Relevant Compliance qualification, or equivalent, along with meeting your CPD requirements
- Excellent knowledge and understanding of all GFSC regulatory and data protection requirements
- Excellent communication skills and ability to understand, interpret and relay complex information
- Demonstrated ability to set clear aims and objectives for the team, . resetting objectives as necessary to meet deadlines and expected outcomes
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