Compliance Officer / MLRO

Job Description

This is a 25 hour per week role.

Duties include:
Responsible for the corporate governance for an IOM regulated TCSP (Trust and Corporate Service Provider) Class 4 & 5
Responsible for ensuring all aspects of Compliance and AML codes are managed and HTC policies and procedures comply with codes and are adhered to
Manage the risk profiling of the company’s operations, products and clients including consideration of external risk factors
Maintain the risk profiles up to date by reviewing at least annually and more frequently if required and presenting to the board for approval
Keeping fully abreast of IOM law, regulations and guidelines which might impact on the company, assess the impact on the company and advise the board accordingly with recommendation on any action to be taken
Assisting with potential acquisitions of business and review of client portfolios/corporate governance of target business
Undertake ongoing monitoring and ensure monitoring program is consistent to risk ratings established
Complete outstanding compliance reviews of current portfolio & possible recap of reviews undertaken 2018/19
Undertake spot checks to ensure compliance monitoring program is maintained and accurately represents portfolio
Ensure systems correctly record ratings and reporting functionality is maintained
Produce quarterly Compliance report and attend board meetings to present these
Ensure all corporate governance policies, manuals and procedures are fully documented and appropriate based on the organisations risk profiles. Review at least annually and more frequently if required.
Establish appropriate internal audit monitoring programmes, carry out the audits, report results to the board and manage completion of action points
Contact person with FSA
Manage regulatory monitoring visits including co-ordinating the company’s responses and ensuring action points are fully addressed
Keep abreast of ML/FT typologies etc and advise senior management as required
Ensure the appropriate MLRO registers and records are maintained
Review any suspicious activity reports and recommend reporting as required. Monitor ongoing transactions and make further reports as required
Organise appropriate AML staff training
Responsibility for ensuring client due diligence maintained and centralised
Ensure that the organisations business interruption/recovery plans are kept up to date and annually reviewed in conjunction with group
Organise and manage regular testing of the plans, at least annually and co-ordinate completion of action points
In the event of a business interruption incident, manage the initiation and implementation of the plan
Ensure all staff and the board are fully trained so that they are aware of the company’s business interruption and recovery plans and their roles in the event a plan is initiated
Maintain the company’s data protection registrations. Report to board on requirements and ensure compliance
Ensure that complaint procedures are kept up to date
Provide staff training on the complaints procedures
Monitor that complaints are handled in accordance with the procedures and procedures amended, as required, to minimise similar complaints in future
Manage the due diligence on new introducers, including ensuring that TOB are in place
Ensure corporate governance requirements are met

Skills and experience required:
In depth knowledge of FSA regulations for the company and a willingness to acquire new knowledge on an ongoing basis
Confident and articulate with strength of character to advise the board and senior managers to instil a strong compliance culture commensurate with the organisations risk profiles
An understanding of ‘risks’ and the ability to tailor the organisations corporate governance controls to ensure that these adequately cover the organisations risk profiles without being unnecessarily onerous
Attention to detail
A recognised compliance qualification
Experience in the Trust and Company sector
Willing to work as part of the team and assist where and when required outside of ‘compliance’