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Overview

Our Client is a well established Douglas-based organisation that offers a comprehensive suite of accountancy and wealth management services.They now require an experienced MLRO / Head of Compliance to join and play a leading role, reporting directly to the board.

The MLRO will be responsible for:

• Fulfil the FSA controlled functions of Head of Compliance and Money Laundering Reporting Officer for the trust and corporate service provider business
• Oversee the operational and day to day compliance strategy and processes of the business
• Provide support to the Directors with regulatory oversight activities and regulatory reporting including AML/CFT matters
• Provide ongoing advice and support to the business on regulatory compliance and AML/CFT matters
• Develop and maintain the company's relationship with the Financial Services Authority
• Cooperate and act as a contact point with the Financial Intelligence Unit. Receipt, review, investigate and, if appropriate, externalise internal Suspicious Activity Reports
• Identify and implement developments to the business compliance and AML/CFT framework
• Support the maintenance of the risk management framework for the business
• Identify changed business risks and support the development, delivery and reporting of the compliance monitoring programme
• Coordinate the delivery of regulatory change initiatives impacting the businesses
• Ensure that regulatory requests, reports and other official communications are responded to and handled appropriately and promptly
• Maintain the Compliance and AML/CFT manuals, policies and associated documentation
• Maintain the registers required under the Financial Services Rule Book and the AML/CFT Code
• Prepare and develop industry specific regulatory, AML/CFT and other relevant training for staff
• Review higher risk new business and support the business control team on AML/CFT matters
• Oversee the periodic client review process
• Act as Data Protection Officer for the company and provide ongoing advice and support to clients on compliance matters
• Ensure knowledge of all relevant legislation, associated regulations and guidance is up-to-date with recent developments

The ideal candidate for the MLRO / Head of Compliance role will have:

• A wealth of experience working within the requirements of the Financial Services Act, the Financial Services Rule Book, the Isle of Man anti money legislation, the Data Protection Act and GDPR
• 5 GCSEs or equivalent at grade C or above.
• Holds the ICA Diploma in Compliance / Governance, Risk and Compliance
• Previous experience in a similar role in an Isle of Man FSA regulated business