Compliance Officer

Job Type: Permanent

Location: Isle of Man

Reporting to the Director, the primary purpose of the Compliance Officer is to oversee the firm’s compliance with the regulatory requirements, including those relating to money laundering and combating the financing of terrorism.

The Compliance Officer will also act as the firm’s Money Laundering Reporting Officer and provide continual risk assessment and development of comprehensive policies and procedures, compliance training, protocols, and internal investigations for all areas of the firm.

Additionally, the Compliance Officer acts as the chairperson of risk committee, which also comprises partners and directors.
 

Salary and working hours
Salary is commensurate with experience but likely to be in the region of £40,000. 

The hours are full-time, 9:00am to 5:15pm Monday to Friday.

Key Tasks
 Ensure that the day-to-day operations of business are in line with the agreed operational and compliance procedures for the firm;
 Ensuring the operations of the firm adhere to the recent Anti-Money Laundering Guidelines;
 Supervise, monitor and develop Compliance Coordinator as your second-in-command;
 Perform internal compliance investigations and audits, throughout the firm, including compiling detailed reports to the Partners;
 Ensure that all financial transactions are recorded and carried out in accordance with instructions received and within set time limits;
 Develop compliance training materials and perform ongoing compliance training throughout the firm and ensure that the procedures are maintained and worked to;
 Provide ongoing advice and resources to management for compliance issues and process monitoring and improvement, and work with management;
 Produce relevant returns and notifications to the Financial Services Authority;
 Correspond and meet with the Financial Services Authority as required;
 Specialist projects as agreed with the Partners to support the requirements of the business; and
 In addition, the firm is engaged by a number of clients to carry out various compliance-based functions. 

A key task for the appointee is to:
-  manage the quality of these engagements; and
- be able to develop this business.

As the Money Laundering Reporting Officer you will be responsible for the following:
 The internal review of all internal disclosures in the light of all available relevant information, determine the substance and if appropriate disclose externally to the FCU;
 Maintain all related records;
 Provide guidance on how tipping off the customer can be avoided if a disclosure is made, and manage any resulting constructive trust scenarios appropriately;
 Provide support and guidance to the Board and senior management to ensure money laundering and terrorist financing risks are adequately managed;
 Liaise with the FCU and the Financial Services Authority and participate in any third party enquiries in relation to money laundering or terrorist financing prevention, detection, investigation or compliance; and
 Provide reports and other information to senior management as required.
 

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