DMLRO/Compliance Officer – Corporate Bank – 7th May 2019

Our client, a leading Corporate Bank is looking for a combined DMLRO/Compliance Officer to join their London Office.

 

Responsibilities:

General:

  • Comply at all times with the Statements and Code of Conduct for Approved Persons within the certification regime.
  • Ensure that the first line of defence actively identifies, reduces, controls and reports the risk of non-compliance with relevant external regulations.
  • Facilitate the operational contact between AML Compliance and relevant business areas and support units
  • Keep up to date with statutory and regulatory developments in Compliance and Financial Crime that have an impact on the Bank’s business ensuring that the Compliance and AML compliance function in the firm is exercised with high professional integrity.
  • Advising on the relevant regulatory aspects of new financial services/product developments.
  • Undertake networking opportunities, such as attending appropriate conferences, to keep abreast of relevant regulatory and legislative compliance issues in the banking industry.
  • Produce and deliver Compliance and Financial Crime training to ensure all staff in the Firm meet regulatory requirements and understand their ongoing regulatory and legislative responsibilities. Such training development will include maintaining a risk based needs analysis of all relevant training requirements.
  • Establish and maintain processes to conduct regular regulatory horizon scanning across all Compliance and Financial Crime developments including, regulatory, legislative, industry best practise and the outcome of regulatory thematic reviews and peer group analysis. Report relevant developments through the Firm governance committees, as well as to Group Compliance where relevant and update relevant risk management framework documents as necessary.
  • Maintain internal control procedures in second line unit, including identifying and escalating areas for enhancement e.g. procedures, record keeping, communications etc.
  • Support compliance reporting that that helps provide a correct picture of the overall compliance situation within CEMEA.
  • Follow up on designated issues identified by Group Audit and Supervisory Authorities.
  • Develop the relationship with Compliance in Head Office and across other Firm locations and functions.
  • Support Compliance and AML risk assessments and annual compliance plans and track relevant issues to completion within second line unit.
  • Ensure you maintain an appropriate level of competence to perform role including maintaining a high level of business and product understanding in order to be a trusted professional Compliance office and adviser for the first line of defence.

Financial Crime:

  • Act as DMLRO for the prevention of Money Laundering, Terrorist financing and other forms of financial crime and ensure compliance with relevant regulations, legislation and JMLSG guidance.
  • Deputise for the MLRO at internal fora including Financial Crime Committee (including Chairperson responsibilities), Risk Committee and Management Committee
  • Deputise for the MLRO or represent the Firm at external industry fora
  • Perform duties of a Nominated Officer including recording and investigating internal SARs and recommending reporting requirements to the MLRO
  • Support the MLRO in their oversight of all aspects of Financial Crime related regulation, policies, procedures and controls and strengthen the Financial Crime Compliance structure in the UK.
  • Support the MLRO in the day-to-day management of the Bank’s Financial Crime prevention effort in the second line. Providing updates, escalating issues and highlighting areas of interest to the MLRO.
  • Support the MLRO in establishing and maintaining appropriate risk-based monitoring processes that are proportionate to the scale, nature and complexity of the Bank’s UK operations.
  • Supporting the MLRO in reporting immediately all serious compliance violations and matters of significant importance.
  • Provide oversight of AML/KYC and CDD policies and procedures to assess whether clients are adequately documented and risk rated by the 1LOD in line with UK regulatory requirements. Assessing whether EDD requirements are satisfied for high risk customers.
  • Provide support and guidance for the AML team and business areas and enhance their financial crime risk management knowledge.
  • Produce and deliver financial crime training to ensure all staff in the Firm meet regulatory requirements and understand their financial crime responsibilities including maintaining a risk based needs analysis of financial crime training requirements.
  • Support oversight and reporting of all fraud risk management activities performed by Head Office for and on behalf of the Firm.

Compliance:

  • Represent the Local Head of Compliance or the Firm at external industry fora
  • Support the Local Head of Compliance in their oversight of all aspects of Compliance related regulation, policies, procedures and controls and strengthen the overall Compliance structure in the UK.
  • Support the Local Head of Compliance in the day-to-day management of the Bank’s Compliance risk management function in the second line. Providing updates, escalating issues and highlighting areas of interest to the Local Head of Compliance.
  • Support the Local Head of Compliance in establishing and maintaining appropriate risk-based monitoring processes that are proportionate to the scale, nature and complexity of the Bank’s UK operations.
  • Perform second line oversight and testing of first line operations that manage Compliance and Financial Crime risks including but not limited to:
  • Client on-boarding/review (AML & MIFID classification);
  • Transaction monitoring (AML and Trade Surveillance);
  • Market abuse related monitoring
  • Customer and transaction screening
  • Training,
  • Gifts & Entertaining
  • Conflicts of Interest and OBIs
  • Compliance and AML Risk Assessments
  • Perform other specified compliance activities according to the annual compliance plans, identify and qualify issues and track to completion including controls within own unit.
  • Provide support and guidance for the Compliance team and business areas and enhance their Compliance risk management knowledge.

Competence requirements:

  • Relevant education at university/college level
  • Strong industry expertise
  • Compliance with the suitability requirements in accordance with prevailing law
  • English language fluent –both oral and written
  • High level of personal integrity
  • High ethical standards
  • Able to communicate with senior management and at board level
  • Ability to contribute to further developing the Group in a broader perspective

Personal qualities:

  • Highly motivated individual
  • Excellent communication skills
  • Excellent team player
  • High level of personal integrity
  • High ethical standards
  • A “can do” attitude
  • Effective time management
  • Flexibility with regards to work tasks

 

 

 

 

Contact Details

Name: Emma Karslake

Email: emma.karslake@rutherfordsearch.com

Number: 0203 7780309

Posted: 7th May 2019

Ref: 10992