Risk & Compliance Manager
Ruth Maskell Recruitment ·
- Category
- Legal
Role Purpose
The key objective of the Risk and Compliance Manager is to ensure that the Registered Person complies fully with all its legal and regulatory obligations relating to Financial Services, AML/CFT and Data protection.
Primary focus will be on regulatory compliance assessing the conformity of Laws, Regulations together with internal code of conduct, policies and internal procedures with legal obligations and best practices.
The role will hold the positions of Deputy MLCO and Deputy Compliance Officer.
Risk and Compliance Key Responsibilities
To support the Compliance Officer, MLRO & MLCO for the Trust Company and the affiliated entities to ensure that the Fiduciary businesses remain compliant with all relevant laws, regulations, legislation and best practice.
To work alongside the Compliance Officer and to provide guidance to management and staff so that the business remains compliant with all relevant laws, regulations, legislation and best practice.
To support the Compliance Officer and MLCO for Trust and Funds as a contact point for all Fiduciary and Fund matters.
Assist with performing compliance monitoring programmes and writing relevant reports.
Foster a positive culture of compliance by working proactively with the Trust and Funds business lines to ensure that best practices are followed in accordance with the applicable laws, rules, regulations, and internal policy.
Support and assist on new and or revised business strategies, initiatives, and projects, which may include assisting businesses in assessing the risks associated with new/ revised strategies and recommending and or assessing mitigation efforts to reduce risk exposure.
Support as required in advising business units on the development of action plans to implement new or changed requirements for the Trust and Funds businesses. Action plans may include the development of or changes to existing training materials, policies, procedures, system, and other controls, monitoring/testing processes, and reporting.
Support the monitoring of regulatory development and engagement trends in respect of Trust and Funds and provide updates and reporting as appropriate / required.
Liaise with the relevant Internal control functions in relation to Trust and Fund compliance matters including the provision of technical support and guidance when required.
Support technical excellence by searching out external best practice, monitoring technical and professional developments, sharing knowledge and encouraging others to do the same in the best interests of our client and its clients.
Develop and recommend changes and improvements to operating models, procedures and practices based on subject matter expertise and understanding and market best practice.
Communicate and adhere to policy and procedures to ensure good operational, financial and project management, policy and procedural compliance and early identification and effective resolution or escalation of issues that arise.
Contribute to the development, implementation and maintenance of management information, analysis and reporting framework that supports and informs timely and effective business management and decision making at all levels.
Contribute to the implementation and monitoring of the application of policies, governance frameworks, procedures, practices and standards to ensure quality, effective risk management and regulatory compliance.
Escalating any identified potential weaknesses in the current systems and controls.
People
Hold weekly team meetings addressing current work, outstanding work and any other matters arising within, or impacting, the team.
Oversee the day-to-day management for the delivery of the Risk and Compliance Team ensuring people are working efficiently and effectively.
To act as a first point of contact for team members with technical or client related queries.
To provide regular and informal feedback to direct report(s).
Set relevant and stretching objectives for team members and carry out regular (minimum of quarterly) performance and development conversations and record on the people system.
Qualifications and Experience
Minimum ICA Diploma
Experience in Trust and Funds Compliance
Excellent knowledge of regulatory and legal requirements with respect to economic sanctions.
Knowledge & experience of providing guidance on sanctions to staff / management.
Hold or be studying towards a recognised and relevant professional qualification.
Skills/ Behavioural Competencies
Be able to work collaboratively with other departments
Communication – written & verbal to all levels of the organisation and to external third parties including regulators
Decision Making – consider & recommend escalation to the Board, Regulators and relevant government agencies
Influencing –persuade and influence management and staff
Project Management – participate and where necessary lead/manage
The regulatory environment is ever changing and, therefore the role requires a pro-active and innovative approach to risk management.