Risk & Regulatory Compliance Professional

Job Type: Executive

Location: Isle of Man

Purpose of the Role 

Compliance Officer and Money Laundering Reporting Officer. 

This includes making decisions on disclosure of suspicions and liaising with financial crime agencies; and responsibility for operational risk support to the company.

The role has influence at all levels of seniority, and supports the Chief Compliance Officer in ensuring that all activities undertaken comply with legal, ethical and regulatory requirements.

Experience required

• In depth knowledge and experience of the responsibilities of a Risk & Compliance Officer in an investment management or life assurance business. 

Candidates with investment management experience are preferred.
• Relevant professional qualifications or extensive experience in a similar role. 
• Sound understanding of different categories risk from a technical and operational perspective.
• Operating in a multi‐jurisdictional environment.
• Working in a business going through continuous upgrading, change and growth.
• Able to represent the Group on industry bodies.

Personal Capabilities required

• Problem Solving ‐ Analyses situations, identifies solutions and presents complex problems in a clear manner.
• Influencing ‐ Develops sustainable relationships, persuasive, articulates information well, challenges ideas constructively and insightfully, deals with stakeholders with humility and respect – a trusted advisor and credible subject matter expert.
• Adaptable ‐ Enjoys new challenges, embraces change, resolves conflict, flexible support to the wider team.
• Results Driven ‐ Organises resources, establishes priorities, puts planning and governance structures in place, establishes risks.
• Reliable - delivers on commitments and upholds our team standards and principles.
• Organisational – meticulous attention to detail, organisational and time management skills and a genuine interest in business.
• Independence – the ability to conduct the role independently and with integrity and to exercise professional judgement.

Key Contribution areas

Regulatory Responsibilities

• Monitor and interpret regulation and legislation for compliance with legislation and regulation.
• Undertake Line 2 Assurance reviews to validate, assess and opine on the degree of compliance.
• Prepare and deliver training to staff and Directors on Anti-Money Laundering and other compliance related matters.
• Implement and oversee a consistent framework to ensure appropriate levels of awareness and control in safeguarding and upholding the reputation of the business.  Including registers required for breaches, complaints and conflicts of interest.
• Proactively participate in Regulatory consultation to ensure the business is engaged in the process of shaping and influencing regulations and legislation.
• Support with managing the day-to-day relationship and correspondence with regulators.  This includes support in regard to regulatory oversight visits.
• Prompt escalation and regulatory reporting where required.

Risk

• Ensure the Board and Risk committees feel sufficiently informed and that business practices are developed in line with good practice. 
• Opine on and constructively challenge the degree of compliance with the Risk Appetite Statements and make recommendations as appropriate to strengthen the arrangements.

• Review of Risk Appetite Statements and reporting to the Board on the suitability of any proposed tolerances, having regard to the Group's capital resources and Business Plans.
• Review significant strategic initiatives and report to the Board on the risk and capital assessment carried out in support of such proposals.
• Support with ensuring the Group operates within an appropriate and agreed risk management framework.
• Write accurate, clear and concise reports for Management and the Board; providing top-of-mind, insightful consolidated risk position, proactive and forward looking that supports risk-based decision making

Financial Crime

• Make formal reports to law enforcement agencies and review and comply with any resulting production, restraint or confiscation orders issued by the Isle of Man courts.

Team and Culture

• Take personal responsibility for agreeing clear objectives which reflect and support the delivery of the business plan.
• Take personal responsibility for the identification and implementation of a personal development plan of training needs.
• Proactively monitor and manage own performance through regular reviews / appraisals with Line Manager.
• Personally support the Group Risk Director to implement the Risk Target Operating Model.
• Flexibility and support other members of the team as required – lives and breathes, believes in and supports team culture, displays behaviours and values.
• Demonstrate an understanding of and behaviours required from the company’s core values.
• Demonstrate a full understanding of the fair treatment of customers and be risk aware. 
 

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