The role of the Compliance Officer and MLRO is to work independently by monitoring, reviewing, and evaluating activities of the company, and to ensure that compliance with legal standards and in-house policies obligations are being followed. The duty is also to act responsibly to enforce regulations in all aspects and levels of the business as well as provide guidance on compliance matters.
• Developing and overseeing control systems to prevent or deal with violations of legal guidelines and internal policies.
• Managing the day-to-day operations of the compliance and MLRO functions.
• Evaluating the efficiency of controls and improve them continuously.
• Revising procedures, reports etc. periodically to identify hidden risks or non-conformity issues.
• Drafting, modifying, and implementing company policies.
• Collaborating and liaising with the internal departments, regulators, authorities, and external providers to resolve legal and compliance issues.
• Maintaining compliance registers and the Compliance Monitoring Programme as required by statutory and regulatory requirements.
• Assessing the business’s future ventures to identify possible compliance risks.
• Reviewing the work of colleagues when necessary to identify compliance issues and provide advice or training.
• Enforcing any AML standards and assesses doubtful transactions.
• Preparing reports for senior management and external regulatory bodies as appropriate.
• Coordinating training and mentoring employees in keeping with the current developments on AML/CFT issues.
Skills and Competencies
• Proven experience in AML/CFT.
• Previous occupation in a compliance role will be considered an asset.
• In-depth knowledge of the industry’s standards and regulations.
• Excellent knowledge of reporting procedures and record keeping.
• Business acumen partnered with a dedication to legality.
• Methodical and diligent with outstanding planning abilities.
• An analytical mind able to analyze the complexities of procedures and regulations.
• Excellent communication skills.
• BSc/BA in law, finance, business administration or related field.
• Ideally, certified as a compliance professional