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Compliance Officer, Deputy MLRO-UK
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SalaryCompetitive Salary + Other BenefitsLocationUnited KingdomIndustryBanking & Financial ServicesJob Description
Job Title: Compliance Officer, Deputy MLRO
Industry: Banking
Location: United Kingdom
Salary: Competitive Salary Package + Benefits
Essential Duties and responsibilities
Specific: (Including Prescribed responsibilities)
- Performing the role of Deputy MLRO and Compliance Officer
- Assisting the Head of Compliance in performing Compliance duties
General:
- Adhering to FCA’s Conduct Rules (both Individual and Senior Manager’s Conduct Rules)
- Adhering to FCA's Principles of Business & PRA’s Fundamental Rules.
- Adhering to all systems, controls & Regulatory guidelines.
- Maintain compliance with all policies and procedures of the Bank.
Description of Duties
- Identifying regulatory changes and assessing whether these are relevant to the Bank.
- Carrying out compliance monitoring programme and Preparation of Summary of Regulatory Developments
- Follow up on action points emanating from Compliance Monitoring Reviews
- Perform quarterly Thematic reviews
- Reporting on a regular basis on compliance matters, identified breaches and corrective action taken to Head of Compliance.
- Horizon Scanning and mapping of regulations with relevant business and operations;
- Assisting in the completion and submission of regulatory returns in accordance with the specified timescale
- Performing regular testing to ensure full compliance to KYC policy, which would include all type of customers and counterparties.
- Review and advising the bank of Financial Sanction notices by HM treasury as and when received
- Risk Review and sign off of all High-Risk account opening files and providing observations to MLRO and Branch Head
- Further investigations / review of adverse media and application of Enhanced Due Diligence (EDD) in the cases of high-risk customers following the risk-based approach.
- Review of customers' transaction/ turnover parameters
- Daily review of transaction alerts, coordination with branch for follow up, closure of alerts
- Follow up for periodic review of customers' account, if any
- Providing Compliance/ Regulatory advice to branch team
- Reviewing alerts generated by SWIFT system
- Review and obtaining Gift and Hospitality declaration by all staff members.
- Review and update of manual / policy/ procedures of the bank in relation to Compliance Manual, Anti Bribery, Anti-Fraud, TCF, Conduct Risk
- Verification of exchange rate in bank's website
- Review and follow up on ongoing issues for items drawing the attention of compliance department
- Participating in meeting and preparing minutes for circulation
- In the absence of Head of Compliance, act on behalf and represent Head of Compliance in various Management committees
- Provide advice to the business and other business functions in in relation to AML matters.
Senior Managers Regime Conduct
Individual Conduct Rules: (COCON 2.1-2.2)
- Rule 1: You must act with integrity;
- Rule 2: You must act with due skill, care, and diligence;
- Rule 3: You must be open and cooperative with the FCA, the PRA and other regulators;
- Rule 4: You must pay due regard to the interests of customers and treat them fairly; and
- Rule 5: You must observe proper standards of market conduct.
Skills/Competencies required
- 3-4 years’ Experience in Compliance and AML role in a mid-tier Bank
- Excellent Communication and Interpersonal skills with the ability to interact with all levels of staff and management.
- Good Knowledge and experience within a regulatory environment, including sound understanding of the Senior Managers and Certification Regime.
- Diploma/Certification in Compliance (ICA/CISI) will be preferred.