The function of Head of Compliance/AMLRO will lead the way in the maintenance, development and oversight of compliance practices and procedures in meeting financial services, anti-money laundering, conduct expectations and all other regulatory requirements.
Qualification and experience:
- A university certificate along with experience of not less than 3-5 years in financial markets or in the relevant fields
- Or diploma certificate or less certificate along with experience in financial markets or in the relevant fields
- Be comfortable in a fast-paced environment, where non-routine and/or complex issues are common
- Be able to handle complex issues, projects, and processes
- Demonstrate strong moral and ethical principles. A willingness to learn, accept accountability, demonstrate initiative, and support effective cooperation
- A strong working knowledge of Bermuda's financial services regulations and requirements
- Strong sense of integrity and responsibility.
Key responsibilities include, but are not limited to:
- Design, review and revise compliance policies, procedures, and controls to meet applicable legislation, regulatory requirements, and best practice standards
- Conduct the business monitoring, general compliance monitoring, training, and regulatory reporting as required.
- Promoting, demonstrating, and embedding a strong compliance culture
- Liaise and report to the Bermuda Monetary Authority and the relevant regulatory bodies
- Conduct due diligence checks and ongoing AML reviews for existing clients and business partners
- Act as a key person for the oversight of all AML/CFT and sanctions matters, including the implementation of effective and sustainable controls
- Oversee systems and controls to Identify and mitigate potential areas of AML compliance vulnerability and risks/gaps and develop/implement pragmatic corrective action plans
- Prepare reports for senior management, auditors, and external regulatory bodies as appropriate
- Keep up to date with all relevant regulatory changes as well as evolving best practices, carrying out gap and business impact analysis
- Provide ongoing and ad-hoc support on compliance queries (both from internal and external stakeholders)
- Review marketing materials to ensure compliance with regulatory and scheme requirements
- Assist with the identification, evaluation, monitoring, and mitigation of operational risks; and proactively suggest improvements.
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Last updated on Jun 18, 2024