Head of Compliance

Job Description

Responsible for effectively managing all aspects of regulatory and AML codes in accordance with requirements of TCSP and other legislation whilst promoting a strong Compliance culture throughout the organisation.
Acting in capacity as Money Laundering Reporting Officer to support the delivery of agreed client service levels and working with the board to support the company’s business goals.

Role Responsibilities

– Ensure all corporate governance policies, manuals and procedures are fully documented and appropriate to the organisations risk profiles. Review at least annually and more frequently if required. Ensure board and staff are kept updated.

– Review & submit Business risk assessment applicable to company’s business and with reference to external factors such as National Risk Assessment.

– Manage risk reviews of client portfolio and ensure appropriate procedures in place and are followed and that these align to the organisations business risk assessment and risk appetite.

– Undertake ongoing monitoring ensuring program is consistent to business risk ratings and established procedures.

– Ensure Cosec (and other) systems correctly record ratings and reporting functionality is maintained

– Produce quarterly Compliance report and attend board meetings to present these.

– Establish appropriate internal audit monitoring programmes, carry out the audits, report results to the board and manage completion of action points.

– Contact person for FSA

– Manage regulatory monitoring visits including co-ordinating the company’s responses and ensuring action points are fully addressed.

– Keep abreast of ML/CFT typologies etc and advise senior management as required.

– Ensure manuals policies and procedures are maintained and reviewed at least on an annual basis with a report to the board.

– Ensure the appropriate MLRO registers and records are maintained.

– Review any suspicious activity reports and recommend reporting to FIU and or agencies as required.

– Organise appropriate AML staff training.

– Responsibility for ensuring client due diligence maintained and centralised.

– Ensure that the organisation’s business interruption/recovery plans are kept up to date and annually reviewed in conjunction with group

– Organise and manage regular testing of the plans, at least annually and co-ordinate completion of action points.

– In the event of a business interruption incident, manage the initiation and implementation of the plan.

– Ensure all staff and the board are fully trained so that they are aware of the company’s business interruption and recovery plans and their roles in the event a plan is initiated

– Ensure that complaints procedures are kept up to date and provide staff training on complaints procedures.

– Monitor and ensure that complaints are managed in accordance with the procedures and procedures amended, as required, to minimise similar complaints in future.

– Manage due diligence for new introducers, including ensuring that TOB are in place. Ensure corporate governance requirements are met.

Skills & Experience Required

– Current or prior approval by FSA in Compliance or MLRO role.

– In depth knowledge of industry regulations for the company and a willingness to acquire new knowledge on an ongoing basis.

– A recognised compliance qualification; Experience in the Trust and Company sector.

– Confident and articulate with strength of character to advise the board and senior managers to support and encourage a strong compliance culture commensurate with the organisation’s risk profiles.

– An understanding of ‘risks’ and the ability to tailor the organisation’s corporate governance controls and ensure that these adequately cover the organisation’s risk profiles without being unnecessarily onerous

– Attention to detail

– Willing to work as part of the team and assist where and when required outside of ‘compliance’