Compliance/MLRO Manager

Job Type: Executive, Permanent

Location: Isle of Man

• Compliance Officer and MLRO;
• Data Protection Officer;
• Monitor the effectiveness of compliance controls;
• Provide the Directors and staff with sound and timely advice, guidance and support to ensure the business remains compliant with all relevant regulations, legislation and best practice;
• Update the Directors and staff in respect of any regulatory or other changes that may have an impact on the business;
• Ensure the alignment of policies and procedures with the requirements of the Rule Book and the AML/CTF Handbook;
• Maintain the Business Risk Assessment;
• To be the central point of contact between the business and the FSA, the FIU and other agencies;
• Regularly report to the Managing Director and the Board;
• Assist the business with client on-boarding and banking relationships.

Responsibilities

• Fulfil the ‘Key Person’ roles of Compliance Officer and Money Laundering Reporting Officer;
• Complete the Annual Regulatory Returns;
• Fulfil the role of Data Protection Officer, as it applies to a CSP business;
• Maintain the Compliance Plan ensuring all compliance monitoring tasks, including file reviews and sanctions monitoring, are conducted and completed in a timely manner;
• Ensure policies and procedures are in alignment with the requirements of the Financial Services Rule Book and the AML/CTF Handbook, are updated as required and are presented to the Board for approval following material changes and on an annual basis;
• Provide guidance, advice and support to the Directors and staff in all matters of Compliance and AML/CTF regulation;
• Prepare a quarterly Compliance report to the Board, incorporating the MLRO report;
• Support the business by conducting background searches on new clients prior to on-boarding and existing clients, in line with the requirements of the Compliance Plan including Sanctions monitoring and PEP reviews.
• Review relevant new client files to ensure client take-on procedures are being met for suitability;
• Escalate any identified potential weaknesses in the controls within the business;
• Ensure regular communication with the Directors and staff to advise of changes in regulation, other matters that may impact on the business and financial crime typologies while promoting best practice and ensuring a good understanding of compliance requirements;
• Identify training needs, develop appropriate tools and deliver face-to-face training, in particular annual AML Training, for all staff;
• Perform all duties in accordance with the relevant policies and procedures to ensure adherence to a culture that treats clients fairly and focuses on the long term sustainability of client relationships;
• Act as the central point of contact between the business and the FSA and manage any regulatory visits;
• When and if required, act as the central point of contact between the business and the FIU and other agencies;
• Review, update and present to the Board for approval, the Business Risk Assessment following any material changes in legislation or regulation and, at least, on an Annual basis;
• Maintain the Business Continuity Plan ensuring any changes are advised to the Directors and the Plan is approved on an annual basis;
• Assist the business with new banking relationships for client companies.

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