Compliance Manager DMLRO

Job Type: Executive, Permanent

Location: Isle of Man

Role Description

Manage the Compliance Team and promote the Values and Objectives of the Company.

To manage the team and ensure that the group and team objectives are considered and met.

Have direct oversight of the day-to-day operations of the team, ensuring deadlines are met and risk and importance are prioritised.

Identify risk and escalate accordingly, ensuring at all times that Company procedures are followed.

Ensure that high performance and standards of the team are encouraged and promoted at all times and foster positive and collaborative working practices.

This is a full-time role due to the Company’s regulatory requirements, regulatory nature of the responsibilities involved and the regulatory oversight and reporting required. 

This role of Compliance Manager will also incorporate acting as DMLRO 

Responsibilities and Duties

Team Support and Supervision

• Overall responsibility for the day-to-day management of the team.
• Overall responsibility for completion, approval and submission of time sheets in accordance with Company procedure.
• Promote positive relationships with peer teams and departments throughout the Company and external offices.
• Responsible for training and mentoring of team members in your and other teams to ensure knowledge is shared – actively promoting training and development, to support succession planning.
• Take a proactive role in the Company recruitment process.
• Direct responsibility to ensure regular team 1:1s are undertaken and planned ahead, providing constructive feedback.
• Direct responsibility to ensure team members’ objectives are set and the appraisal process is undertaken on time and in accordance with the Company procedure.
• With the assistance of the Head of Compliance and HR, manage poor performance of team members.
• Promote the Company’s digital strategy.

Client Management and Reporting

• Overall responsibility for the oversight of client entities and team portfolios - reporting to the Head of Compliance.
• To hold approved and nominated regulatory roles, such as DMLRO.
• Provide DMLRO support to the MLRO
• Overall responsibility for the time management of tasks and ensuring these are diarised using the departments chosen system in accordance with the department procedure.
• Responsibility for coordinating the handover of new business to Administration Teams.
• Oversee the day-to-day administration ensuring that all work is closely monitored and that matters are brought to a satisfactory conclusion in a timely manner.
• Ensure that all compliance deadlines (including any deadlines which you may not be directly responsible for) within your department are met
• Direct responsibility to prioritise regulatory deadlines.

Risk and Compliance Management

• Overall responsibility for the risk management and distributions of team work-load.
• Responsibility to ensure that Company procedures are followed – such as client reviews, SAR submissions, and onboarding; this is not an exhaustive list and covers all Company procedures.
• Ensuring that matters of risk / concern are raised / escalated in a timely manner in accordance with the Company procedures.
• Responsibility for risk management of work and tasks in the team, prioritising regulatory deadlines such as FSA returns.
• Create policies and procedures to support the development of the Company governance compliance framework.

Regulatory

• Overall responsibility for regulatory deadlines, ensuring that these are reported in line with the regulator requirements, licence conditions and applicable legislation.
• Responsible for the team attendance at external events and regulator forums.
• Direct responsibility for the teams overall responsibility to manage a regulatory inspection process.
• Actively take part as a stakeholder in regulator industry events and working groups. Delegate to other team member when appropriate and to support succession planning.
• Responsible for the team staying abreast with worldwide industry updates and legislation changes.
• Responsible for the team to stay abreast with international money laundering typologies and updates from the FATF.
• Responsibility to be up to date with industry risks and priorities, such as serious events in other countries directly affecting sanctions priorities of crime agencies.
• Responsible for the teams knowledge on the Isle of Man FSA Rule Book to be of a good standard. Examples further include the National Risk Assessment, the FIU and FSA’s activities, the Economic Crime Units crime prevention agenda.

Communication

• Demonstrate collaborative working with the Administration Team on Compliance matters.
• Attend Management meetings, ensuring that you are always prepared, submit the necessary reports in advance and make a contribution during such meetings.
• Provide updates to the HOC as required.
• Ensure that other departments within the organisation such as Accounts, Statutory, e-Gaming Compliance and Administration which may be responsible for serving your clients from time to time are provided the necessary guidance and support from yourself and your team to enable them to undertake their role in an efficient manner and to a satisfactory standard.
• Responsibility to ensure that regular team meetings are held in a structured manner - to consider workloads, resourcing needs, risk and escalations. Also to provide an opportunity for feedback / escalation to the HOC and SLT; and communication to be shared with team members.

Personal Attributes

Behaviours

• Be proactive and solution focused.
• Represent the Company at external events and not bringing the Company into negative media.
• Development of own management skills.
• Responsible for own self-awareness, be aware of behaviours and how you are perceived by others.
• Development of technical knowledge across all sectors.

Skills

• Have strong attention to detail.
• Be team orientated and work collaboratively.
• Strong research skills.
• Organisational and communication skills, both written and verbal.
• Excellent time management skills.
• Adaptable to different situations and events.

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