On behalf of our client, an International Corporate and Trust Firm, GRS Recruitment are seeking a Compliance Officer / MLRO to join their team in Malta. The role requires an experienced Compliance professional with proven Compliance and Money Laundering Reporting Offer (MLRO) experience in Financial, Accounting, Trust and/or Fiduciary Services. The ideal candidate will be accountable to run an efficient and effective Compliance function that ensures that all enterprise risks are monitored, compliance policies are adhered to and addressed while enabling smooth business. The role holder will be primarily responsible to lead the compliance in the local office, with accountability to implement and maintain the company’s Compliance framework – ensure there is an effective compliance framework, infrastructure, controls and associated policies, whereby the office complies with applicable local laws and regulations, supervisory requirements, as well as internal policies and procedures, while identifying and solving issues to ensure the smooth running of the business.
MAIN DUTIES AND RESPONSIBILITIES
- Develop and implement the compliance framework and policies, through effective execution of compliance tasks and identification and reporting of areas of improvement.
- Ensure that Group policies and procedures are implemented in line with local laws and regulations; and the local office and client entities are compliant with applicable laws and regulations.
- Develop and implement compliance policies, procedures, and controls to ensure adherence to regulatory and legal requirements, especially in cross-border payments and B2B transactions.
- Conduct regular reviews and audits to assess the effectiveness of compliance measures and make recommendations for improvement.
- Act as the main point of contact with Regulators, when necessary and be responsible for compliance-related audits; complete the regulatory filings with the Central Bank and other relevant bodies as required.
- Monitor client acceptance, conduct on-going review of client files, transaction monitoring and risk review.
- Assist the Local Management Team (“LMT”) with the monitoring, interpretation and analysis of existing and prospective legislation or regulations which may impact the business and/or clients.
- Highlight all identified risks and compliance issues as well as solutions to the LMT and the Group.
- Discuss with Senior Account Managers (“SAM”) and Account Managers (“AM”) and Money Laundering Reporting Officer (“MLRO”) on unusual transactions.
- Ensure KYC, Anti-money laundering, Countering Terrorist Financing (AML/CFT) and Anti-Bribery and Corruption systems and On-boarding controls are adequate.
- Review and assess compliance breaches, escalate as necessary and work with the local Management Team (LMT) and Group Compliance to remediate and resolve any identified issues; Conduct due diligence on business partners, customers, and other stakeholders, especially in medium to high-risk jurisdictions.
- Responsible for the portfolio of client companies in conjunction with SAMs and AMs: manage and grow excellent relations with existing clients to ensure a good understanding of the clients business and structure to conduct a robust review to alleviate risks and ensure compliance with the changing regulatory landscape.
- Locally accountable for the management of compliance projects from the initiation and planning stages through execution and completion.
- Serve as the primary point of contact for regulatory bodies, ensuring timely and accurate responses to inquiries and maintaining a strong working relationship with relevant authorities.
- Support business strategy of the local office, representing the compliance capabilities to clients and business partners.
- Build sound relationships and engage the Sales team, in order to fully understand the products, solutions and services being offered and ensure they are compliant with local laws and regulations.
- Work with Group Compliance and Learning and Development team to provide compliance related training and informal coaching to raise staff awareness of compliance and risk management principles.
- Prepare and submit regular reports to senior management on compliance and risk management activities, highlighting areas of concern and proposed solutions.
- Accurately record chargeable time and value of service, ensure effective monitoring of transactions, handle pricing, invoicing and collection of outstanding fees for the portfolio of clients.
- Monitor own productivity and chargeability on weekly basis and review productivity and performance against targets to ensure that individual financial targets and client communication KPIs are met.
- Follow a disciplined approach to submitting timesheets for client work and meet the weekly and monthly time/ chargeability targets
- Undertake the role of director, trustee, nominee, manager, partner, secretary, authorized signatory or any related position in internal entities or client entities, where necessary and required by the Management.
- Undertake such other duties, related to the position, as may from time to time be agreed with Management.
CANDIDATE PROFILE
- Relevant Bachelor’s or Master’s Degree and other relevant professional qualifications.
- Over 10 years’ previous experience of establishing and/or working in a compliance function.
- Experience in a financial services business and liaising with regulators preferred.
- Solid understanding of local and international tax and regulations including exposure to CRS, FATCA, BEPS, GAAP.
- Good knowledge of trust business services and exposure to fund business would be an advantage.
- Experience in the TSP and CSP space would be an advantage.
- Strong commercial mindset, takes initiative, positive and proactive, dedicated, focused and revenue and target driven.
- Excellent organizational, interpersonal and communication skills.
- Excellent client facing skills. Well-developed spoken and written communication skills and the ability to tailor style to relevant audiences and successfully liaise with people at different levels.
- Excellent English language fluency additional languages preferred.
- Strong analytical and problem-solving skills, solution driven, highly organized and detail-orientated with good decision making and time management skills. Independent, hands-on and takes accountability to deliver solutions and results.
- Ability to adapt and work in a smaller, dynamic local team environment; along with being part of a bigger matrix organization. Proven leadership and team player skills, with ambition to excel in the role.
Due to the high volume of applications, we receive at GRS Recruitment, only shortlisted candidates will be responded to.