Our client, a reputable Wealth Management company based in Malta, is seeking a dedicated and experienced Head of Compliance. The Head of Compliance is responsible for managing the regulatory and financial crime compliance risk and will be the Authorized CO/MLRO operating under relevant Regulatory Compliance Regimes. You will ensure that appropriate policies, procedures, systems, controls, processes and training are in place and provide guidance to staff on compliance and Client Due Diligence matters. If you meet the candidate profile and are eager to progress your career in compliance leadership, we encourage you to apply today and take the next step with this exciting opportunity in Malta.
MAIN DUTIES AND RESPONSIBILITIES
- Develop, implement, and maintain compliance programs to ensure adherence to relevant laws, regulations, and industry standards including, but not exclusively, the MFSA’s standard license conditions as well as Mifid II, Mifir and MAR, and the MFSA’s conduct of business rules, thereby helping to safeguard the company’s reputation.
- Serve as the primary point of contact for the regulatory bodies and oversee regulatory examinations and audits.
- Conduct compliance training programs for employees to raise awareness of regulatory requirements and best practices.
- Monitor compliance with internal policies and procedures, conducting periodic audits and reviews.
- Ensuring that the opening of account process is robust and is being adhered to religiously.
- Execution of trades – ensuring that the execution of trades is within the best execution requirements laid out by Mifid/Mifid II. Ensuring individual instruments are within the individual mandates of clients and that there is no insider trading. Maintain the company’s market monitoring function.
- Assessment of clients’ portfolios in relation to their investment mandates.
- Assessment of all back-office operations, to ensure that all processes are being adhered to in accordance with the MFSA’s licensing conditions.
- Ensuring any research or advertising material, including the website and use of social media, are in line with the relevant regulations.
- Ensuring that all conflicts of interest are declared and logged where possible these are avoided all together.
- Ensuring the company has the appropriate security levels and has an appropriate business continuity policy and procedure.
- Ensure the company has the appropriate data management policy and that this is properly implemented.
- Prepare a quarterly and annual compliance report and present it directly to the board of directors, informing them whether the company is operating within the relevant regulations and where not.
- Keep abreast with all new regulations, carefully analysing these and advising the board and management of the implications of the new regulations, also overseeing processes that may need to be changed in order to adhere to the new regulations.
- As part of the senior management team, you will contribute to the implementation of the company’s strategy as communicated by the Board of Directors.
- Ensure that all the required reports are submitted to the regulatory bodies on an ongoing basis.
- Obtain a thorough understanding of FATCA and CRS requirements to ensure correct and proper reporting.
- Generally, to ensure that the company is at the forefront of best practise and good governance so as to ensure we are the industry leaders in this respect.
- Act as a focal point for employees/ stake holders to escalate suspicions of terrorist financing or money laundering activities and manage AML/CFT risks.
- Oversee the company's anti-money laundering (AML) and counter-terrorist financing (CTF) programs and ensure effective implementation of AML/CTF policies and procedures.
- Investigate and report suspicious transactions to regulatory authorities in accordance with legal requirements.
- Escalate appropriate AML risks/breaches to management.
- Keep pace with developments in AML/CFT laws and regulations, trends, techniques, and update indicators of money laundering or terrorist financing.
- Perform customer due diligence checks (KYC) on new and on-going clients as per the organization’s requirements.
- Establish and maintain an appropriate AML training programme and adequate awareness arrangements for employees.
CANDIDATE PROFILE
- Bachelor’s Degree in Business Administration, Economics, Law or similar.
- Previous Compliance and MLRO duties are essential (ideally 4 to 5 years’ experience) - preferred.
- Previous experience with very good understanding of Investment Services regulations (e.g. MIFID, fund management regulations, etc) is desirable.
- Compliance related accreditations or qualifications preferable. (e.g., CAMS, ICA, etc.).
- Thorough understanding of the relevant local & International regulatory environment.
- Fluent spoken and written English is a must.
- Professional manner with the ability to articulate and influence by identifying accurate compliance requirements to all stakeholders.
- Good communication skills to be able to get the message across accurately and in understandable manner.
- High level of integrity and discretion, handling confidential information.
- Efficient and logical approach to problem solving.
Due to the high volume of applications, we receive at GRS Recruitment, only shortlisted candidates will be responded to.
