Our client is a Limassol based CySEC Regulated Wealth Management Firm and they are currently looking to recruit a Head of Compliance and AML, the ideal candidate will have a strong background in compliance leadership within the finance industry and who can provide strategic oversight and ensure the company’s continued adherence to regulatory standards.
Key Responsibilities:
Regulatory Compliance
- Monitoring and Interpreting Regulatory Changes: Stay up to date with CySEC regulations, European Union regulations (e.g., MiFID II, GDPR, AMLD), and international regulatory standards, ensuring the business complies.
- Reporting to CySEC: Prepare and submit regular reports to CySEC, such as Quarterly Statistics, Capital Adequacy reports and Audited Financial Statements, Annual Compliance reports and any other required documentation.
- Coordination with Legal Counsel: Collaborate with legal teams to interpret and apply legal requirements to company practices.
Management of Compliance Risks:
- Compliance Risks Assessment and Mitigation: Conduct regular assessments to identify compliance risks (e.g., money laundering, fraud, market abuse) and develop strategies to mitigate them.
- Developing and Implementing Policies: Develop, implement, and update internal compliance policies and procedures based on risk assessment and regulatory requirements.
- Reporting to the Board: Provide updates on Compliance Risk assessments, compliance status, and issues to senior management.
Anti-Money Laundering (AML) and Counter-Terrorism Financing (CTF):
- AML/CTF Framework Implementation: Ensure that the business follows all required AML/CTF guidelines, including customer due diligence (CDD), enhanced due diligence (EDD), and transaction monitoring.
- AML Reporting: Report suspicious activity to the relevant authorities, including the Financial Intelligence Unit (FIU) and MOKAS, as well as monthly and annual AML reports to CySEC.
Internal Auditing & Monitoring
- Monitoring Daily Operations: Oversee daily business activities and operations to ensure compliance with internal controls and regulatory requirements.
- Transaction Monitoring: Monitor trading activity and transactions to identify any potentially illegal or irregular activities.
Client Onboarding and KYC/Customer Due Diligence (CDD)
- Customer Onboarding: Ensure that appropriate KYC (Know Your Customer) procedures are followed during the onboarding process.
- Ongoing Monitoring: Continuously monitor clients’ activities to identify any changes in client risk categorisation and perform enhanced due diligence (EDD) where necessary.
Training and Awareness
- Compliance Training Programs: Develop and implement compliance training programs for all staff to ensure they are aware of their responsibilities and current regulations.
- Employee Awareness: Promote awareness of compliance policies across the organization to ensure a culture of compliance.
Compliance Reporting and Documentation
- Report Generation: Prepare internal and external compliance reports, ensuring they are accurate and in accordance with CySEC requirements.
- Documentation Maintenance: Ensure that all compliance-related documents (e.g., policies, procedures, audit reports) are maintained and updated regularly.
- Regulatory Filings: Ensure timely submission of required documents, including annual reports and regulatory filings, to CySEC and other relevant authorities.
Communication with Regulators
- Regulatory Liaison: Act as the point of contact between the company and CySEC, responding to queries and requests from regulators.
- Handling Regulatory Complaints: Address and resolve any regulatory complaints or investigations, providing all necessary documentation and explanations.
Governance and Corporate Structure
- Corporate Governance: Ensure that the organization follows proper corporate governance standards, especially in relation to financial markets, board decisions, and shareholder reporting.
- Board Reports: Provide annual compliance (responsibility of the Risk Manager, outsourced) reports to the board of directors and senior management.
Compliance Auditing and Third-Party Assessments
- Third-Party Compliance Assessments: Oversee and review third-party service providers’ compliance with relevant regulations and internal policies.
- External Audits and Reviews: Coordinate with external auditors during annual audits and assist in addressing any compliance findings.
Licensing and Authorization Management
- CySEC Licensing: Ensure that all licensing and authorizations required by CySEC and other authorities are maintained.
- License Compliance: Ensure the business continues to meet the conditions of its licenses, including maintaining necessary capital requirements, systems, and reporting obligations.
Crisis Management
- Incident Management: Develop and manage an incident response plan for compliance-related incidents, ensuring timely resolution of issues such as regulatory breaches.
Cross-functional Collaboration
- Collaborate with Other Departments: Work closely with departments such as legal, finance, operations, and IT to ensure compliance is integrated across the business.
Salary:
- Budget: 50,000 to 55,000 Euros gross annually
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 AML with reference number 3673.
Or you can apply directly through your candidate login by hitting the APPLY button.
