Money Laundering Compliance Manager - St Peter, United Kingdom - Evelyn Partners

Description

Purpose of Role

To support the Head of Compliance in the development and maintenance of an effective compliance function for Evelyn Partners International (EPI) and Evelyn Partners (Channel Islands) Limited (EPCI) in Jersey, whilst liaising effectively with all staff, to include the wider Group.

Regulatory Status

Key person role as MLCO.

Key responsibilities:

Risk and Compliance Committee

• Produce the relevant reports and MI for the Committee and Chair the monthly Risk and Compliance Committee meetings.
• Review the Terms of Reference on an annual basis providing to the Board for their approval.

Policies and Procedures

• Assisting to maintain up-to-date compliance risk assessments identifying the regulatory compliance and financial crime risks faced by EPI and EPCI, taking into account the nature and scale of the services provided.
• Assisting to maintain an up-to-date compliance manual for EPI and EPCI, documenting all relevant policies and procedures designed to address the compliance and financial crime risks.
• Ensure that appropriate procedures are in place to review the CDD and other account opening documentation for all potential clients of EPI and EPCI, to ensure adherence to all JFSC requirements and Group standards.

Money Laundering Compliance Officer

• While the main responsibility remains with the MLRO, review and ensure all high-risk clients are approved by Compliance and the relevant senior management;
• Monitor the day-to-day operation of the firm's AML/CFT policies and respond promptly to any reasonable request for information made by the JFSC or law enforcement;
• Ensure appropriate policies are in place to undertake initial and ongoing due diligence on all clients in accordance with the JFSC AML and CFT Handbook. Oversee the approval of all new clients to ensure compliance with the JFSC requirements.
• Ensure compliance with Group processes for obtaining and the use of government and FATF findings on countries' arrangements for money laundering prevention. This is especially important if these countries have been found to be materially deficient;
• Establish and maintain adequate arrangements for employees' awareness and training in relation to money laundering and terrorist financing; and
• Assist with the reporting of information to the JFSC in relation to the National Risk Assessment (NRA) project on an annual basis.

Deputy Money Laundering Reporting Officer

• Assist the MLRO in accordance with JFSC and Group requirements, investigating potential suspicions of money laundering and reporting these to the appropriate authorities as required.

Regulatory Reporting

• Ensure all regulatory reports, business returns and required notifications are submitted on a timely basis and in accordance with JFSC expectations, and provide assurance to the Head of Compliance that all necessary returns have been completed.

Compliance Monitoring

• Assist to maintain a comprehensive risk-based monitoring programme, taking account of industry and regulatory developments and using appropriate tools and methodologies.
• Ensure that this monitoring programme is completed in a timely fashion and the results reported to the Head of Compliance.
• Identify, document and propose resolutions to breaches, and suggest improvements where control weaknesses are found.

Compliance Registers

• Ensure that all registers and relevant files, to include declined business, gifts and entertainment, liaison notices, SARs, complaints, financial promotions, breaches etc. are completed and kept up to date on a regular basis, ensuring that regular MI is provided to the Head of Compliance for reporting at Committees and Board meetings.

Advice

• Provide day-to-day assistance and advice on regulatory and financial crime issues to line management and staff, and participate in the development of new policies and procedures by the Group. Provide compliance expertise and advice to the office on strategic decisions and material new business developments, ensuring an appropriate focus on good client outcomes at all times.

Training

• Assist with training provisions to line management and staff on Compliance issues as necessary, in conjunction with the HR learning and development team.

Management Reporting

• Provide regular and timely written reports to the Head of Compliance, senior management and relevant committees on regulatory compliance and financial crime issues.
• Maintain an up-to-date Breaches Register for EPI, ensuring that breach/incident reports are completed in a timely manner and reporting breaches to regulatory authorities and/or third parties as required by contractual obligations.
• Undertake quarterly trend and root cause analysis of breaches, including using other information available from monitoring and client complaints; discussing the results with the Head of Compliance and the EPI Risk and Compliance Committee to agree actions to address these root causes.
• Attend and report to EPI committees and management working groups as required, or as a Deputy for the Head of Compliance.

Client Complaints

• Promptly escalate to Senior Management any complaints received from the Channel Islands Financial Ombudsman.
• In the absence of the Head of Compliance, oversee the handling of client complaints received by EPI, ensuring that complaints are investigated promptly, and that appropriate redress is offered where relevant.
• Ensure proper root cause analysis of client complaints, identifying any trends emerging and reporting appropriate management information.

Ad hoc

• Assist with the maintenance of up-to-date departmental procedures.
• Ensure that figures are kept in relation to new clients introduced to the UK and Jersey offices.
• Deputise for the Head of Compliance during periods of annual leave or travel.

• Educated to A level standard, or have sufficient relevant experience.
• Relevant recognised benchmark qualification together with on the job experience.
• Good compliance/AML experience gained within an investment or funds business.
• Demonstrable practical knowledge and understanding of relevant regulatory requirements.

Key Competencies:

• Analytical Thinking - analysing and breaking issues down to resolve them. Make systematic and rational judgement based on relevant information and experience.
• Communication - conveying information clearly and concisely to groups or individuals either verbally or in writing to ensure they understand the information and message, presenting information suited to the characteristics and needs of the audience.
• Judgement - making timely decisions that demonstrate considered judgement.
• Planning & Organising - planning and organising in advance as far as possible. Managing ad hoc issues as they arise whilst meeting deadlines.
• Influencing - exhibits influencing skills. Having the ability to convince and persuade others, specifically senior management.