My client, a City based international bank are looking to recruit a Compliance/AML Assistant Manager, paying up to £60k.
- Helps implement and maintain Compliance Monitoring Programme.
- Keeps up to date in respect of legislative and regulatory changes and industry best practice and ensures that any changes to rules, regulations or guidance are appropriately communicated to Management and Staff.
- Assists the Head of Compliance in the development, maintenance and implementation of appropriate frameworks, policies and processes to identify all areas of AML & Compliance and to ensure that they meet existing and proposed regulatory requirements.
- Monitors compliance with all applicable regulations and laws and advises management of any issues arising from the compliance monitoring reviews.
- Receives all laws and regulations applicable to the business, maintains a record of such and distributes these to the relevant departments via regulatory updates.
- Liaises with the relevant regulatory authorities on the implementation of regulations (FCA, PRA) while referring all sensitive matters to the Head of Compliance to report to the CEO.
- Assists the Head of Compliance in responding to significant consultative or discussion papers issued by regulatory bodies.
- Keeps line management up-to-date in terms of laws and regulations and their responsibilities to ensure compliance.
- Facilitates the development of a culture which is conducive to minimising the risk of regulatory failure and the resultant reputation damage; and take timely action to report/remedy any breaches that occur.
- Provides guidance to line management, especially WM, on 'how to comply' and to maintain optimum relations with regulators, legal advisors, auditors and other external agencies.
- Work with Management in implementing any changes required for the resolution of issues arising from regulations and internal Compliance procedures.
- Assists with research for new products and ensures that all commercial decisions (e.g. product, market, geography, customer, scope or processes) receive appropriate regulatory consideration.
- Provides advice to senior management on emerging compliance issues and participate in projects to assess Compliance-related impacts on new business, strategies and products.
- Reviews and approves financial promotions and various communications.
- Annually assists in the Compliance and Financial Crime Manual reviews and associated policies and procedures, relating to regulatory compliance and recommends amendments.
- Ensures that policies, procedures, rules and regulations are applied at all times in the course of business transactions.
- Assists in investigations of breaches or alleged breaches of regulations and/or compliance policies, standards or procedures.
- Receives and records all complaints and undertakes investigation and resolution and escalates as necessary to HoC and CEO.
- Ensures approved persons and Training & Competence procedures and records of relevant staff are maintained.
- Assists the Head of Compliance / MLRO in ad-hoc compliance-related projects or issues as necessary.
Customer and Transaction Screening - Sanctions:
- Assists with the monitoring and investigation of payments and transactions through screening mechanisms, whilst ensuring maintenance of a robust audit trail and documented rationale of all decisions made.
- Cascades any "real" sanctions alerts to appropriate areas.
- Monitors the regular customer database screening processes.
- Reviews rules and settings and suggest changes where necessary.
Sanctions, PEPs and Controlled/Dual-Use-Goods
- Reviews / decides / escalates, as appropriate, PEP, sanctions, controlled/dual-use-goods referrals alerted on screening system.
- Ensures relevant hits are escalated to HoC/MLRO.
Other - Sanctions and AML Risk
- Reports any breaches of legislation or bank policy using reporting procedure.
- Assists HoC/MLRO with annual and ad-hoc training, ensuring this is reviewed and updated (as necessary) to reflect UK regulatory and internal policy requirements.
- Maintains accurate records and ensure production and delivery of high quality Management Information.
- Assists in the detailed review of sanctions and financial crime-related matters referred to the department and be ready to ready to respond on urgent issues.
- Assists the HoC/MLRO in the compilation of the annual MLRO Report.
Customer and Transaction Monitoring
- Ensures the Compliance Monitoring Programme considers all aspects of Financial Crime, and reporting of findings.
- Assists with reviews on the effectiveness of AML/CFT controls, policies and procedures.
- Assists in the Compliance 'reviews' of the regular customer reviews undertaken by the respective business units.
- Ensures the HoC/MLRO is made aware of all pressing issues in a timely fashion.
SAR Investigation and Internal Reporting
- Assists the HoC/MLRO in SAR investigations, documenting findings.
- Through the Head of Compliance / MLRO, coordinates with external agencies and provides them with the necessary information, where necessary.
- Reviews and checks, prior to sign off by HoC/MLRO, all New Business/Customer Mandates as acceptable for KYC/B. Monitors account opening procedures.
- Reviews, as relevant, KYC documents for all new customers, prior to sign-off by HoC/MLRO.
- Investigates KYC and any issues found and follow through points to a satisfactory resolution, raising any concerns with the HoC/MLRO.
Experience and Education:
- Professional 'Compliance/Anti-Money Laundering' qualification, or equivalent (e.g. LLB).
- Minimum of 5 years of relevant industry experience.
- Excellent knowledge of the legal and regulatory framework and the regulatory environment.
- Good product knowledge in securities structured instruments and fund management derivatives.
- Sound generalist compliance knowledge.