This Payment Solutions Company in Limassol belongs to a group of very innovative companies with excellent benefits and they are looking for a Compliance and AMLCO Officer with experience in the payment services sector (banks, payment methods, financial services, so not forex).
Responsibilities:
- Design procedures, policies and controls and define the responsibilities and limits of responsibility of each department that is dealing with matters related to the prevention of terrorist financing money laundering
- Prepare and submit a report recording for approval to the Board of Directors through the Senior Management, and assessing the risks for money laundering and terrorist financing
- Record and assess on an annual basis all risks arising from existing and new customers, new products and services and the adoption of measures with additions or changes to the systems and procedures implemented by the company for the effective management of these risks.
- Submission of the AML annual report to the board and the regulator and all other relevant reports needed for Compliance and AML purposes
- Monitoring and assessment of the correct and effective implementation of the policy, procedures and controls that have been introduced
- Application of appropriate monitoring mechanisms that will provide with the necessary information for the level of compliance with the policies and procedures
- Liaise with authorities, partners, regulators, external and internal stakeholders for AML and CFT topics including global offices
- Prepares and implements, in cooperation with other competent departments, an annual plan of training and education of staff.
- Evaluate the findings of the Internal Audit to take corrective action for issues of prevention of money laundering and terrorist financing.
- Responsible of keeping up to date with regulatory or Card Schemes/partners and PSD2, changes and update of the relevant policies and procedures
- Lead and develop regulatory compliance policies and carry out ongoing monitoring and investigations on merchants, partners, and vendors.
- Develop and maintain regulatory compliance policies and procedures including KYC, AML and sanctions screening
- Develop and maintain appropriate control measures to monitor KYC, AML, complaint handling and funds safeguarding
- Implement suitable compliance controls to new business initiatives and products
- Design and manage effective due diligence and monitoring program to third parties and vendors
- Review marketing materials and ongoing monitoring of the company’s website to ensure compliance with the requirements of the relevant legislation, regulation and card schemes rules
- Receipt and handling of clients’ complaints
- Establish and maintain appropriate risk-based monitoring processes that are proportionate to the scale, nature and complexity of the firm's operations.
- Ensure all internal suspicious activity reports received are investigated without delay.
- Make recommendations for action to remedy any deficiencies in policies, procedures, systems or controls and follow up on those recommendations.
- Implement the Internal Suspicious Reporting procedure, train the employees on it and follows the application of such procedures from the review of the report to the communication with MOKAS.
Requirements:
- Bachelor’s or master’s degree in law, economics, or any other relevant field
- Registered in Cyprus AML Public Registrar (AML Examination Certificate)
- Strong understanding of payments including acquiring, gateway and alternative method of payments
- Working knowledge of key regulatory /consumer bodies including ECB, CBC, MasterCard and Visa
- Relevant professional development compliance qualifications from ICA, CISI or other professional development body
- At least 3 years of experience in a compliance/AML function in payment services companies
- Excellent verbal and written Greek and English communication skills and the ability to explain complex requirements
- Strong organization interpersonal and presentation skills
Working schedule:
Monday to Friday, flexible working hours, 8 hours of active work
To apply:
Please send your CV to StaffMatters at admin@smstaffmatters.com and mention that you are applying for the vacancy of Head of Compliance and AMLCO with reference number 526.
Or you can apply directly through your candidate login by hitting the APPLY button.