Compliance Officer Assistant

Job Reference: MCB-10050/GB
Job Location: London (Mayfair) GB

Overview: (Core accountabilities; aims of position; specific responsibilities)

Role - The COA's role is twofold. He/She is responsible for assisting the Bank (its branches and subsidiaries, as the case may be) meeting its Regulatory Requirements, and as MLRO Assistant: Advising, Supporting & Executing Activities re Fighting Financial Crime (KYC / AML / Client Take On / Bribery), Treating Customers Fairly (COBS, CASS, COLL) and maintaining integrity in dealings (Chinese walls, clear communication, complaints handling, etc.).

Responsibilities: (Day-to-day duties)

Compliance related activities

Assist in developing & implementing the compliance strategy to meet the Regulatory requirements.
Assist with MLRO for the Bank.
Preparing and undertaking a risk-based annual Compliance Monitoring Programme and reporting any deficiencies to Senior Management, i.e. COBS, CASS, Financial Crime, TCF, etc. (e.g. financial promotions, best execution, market abuse, conflicts of interest / Chinese walls, insider dealing, record-keeping, inducements, etc).
Compliance Record-Keeping, e.g. Gifts, PAD, Complaints Register, FCA registrations, etc.
Actively supporting and advising the Business Management on the relevant Regulatory developments and requirements.
Assisting the firm in understanding and addressing all applicable regulations.
Developing, maintaining and enhancing the compliance policies, procedures, processes and Compliance Manual.
Developing the procedures and controls for the Compliance Department.
Ensuring global consistency and high quality standards in accordance with the Group Policies.
Keeping Compliance Officer notified as to applicable returns to be completed and timeframes for submission to the relevant Regulators.
Assisting Compliance Officer with liaison with Regulatory agencies, and internal and external requirements on compliance related matters (namely AML/KYC, COBS, CASS, COLL). External requests must be notified to Compliance Officer for consideration prior to responding.
Ensuring appropriate relationships with the Regulators through completion and submissions of all applicable returns, including transactions reporting requirements, and generally liaising and maintaining an open relationship with the Regulators.
Working closely with the Head of Compliance & MLRO to establish an appropriate compliance culture throughout the firm including the development of specialised training programs.
Ensure Client Due Diligence is robust and where shortcomings are identified, manage and implement respective remediation measures and actions.
Providing training on Compliance related matters to Business, e.g. AML, COBS - Conflicts of Interest, Market Abuse, Insider Dealing, etc., CASS & COLL.
Monitoring of the static data to ensure a better quality and accuracy of regulatory reports
Reporting regularly to the Head of Compliance & MLRO on relevant matters, e.g. regulation changes, AML, compliance weaknesses and action being undertaken, etc.

MLRO related activities

Assist with the MLRO responsibilities for the Bank as follows:

Developing & implementing the compliance strategy to meet the Regulatory requirements, e.g. Anti-Bribery & Corruption (ABC) Programme, AML, KYC, etc.
Reviewing AML requirements and ensuring implementation of AML systems and controls,
Drafting and updating AML policies and procedures, including the AML Handbook,
Administering the Bank's sanctions program and making disclosures to the Asset Freezing Unit as and when necessary,
Receiving internal disclosures of suspected money laundering or terrorist financing,
Filing Suspicious Activity Reports (SAR) to NCA where the grounds for suspicion are sufficient and liaise with NCA to deal with such matters as consent to proceed with a transaction and other disclosure issues, particularly with regards to clients or third parties,
Assessing the AML risks linked to the Bank's client portfolio and conducting daily transaction monitoring,
Implementing Customer Due Diligence measures,
Managing all aspects of client on-boarding and KYC processes in Central Client, including the release of data into operational systems,
Ensuring that periodic client reviews are completed by Front Office in a timely manner,
Maintaining client records,
Organising and arranging anti-money laundering training of staff,
Advising and disseminating information to business units of proposed or pending regulatory changes,
Advising and guarding against tipping-off or prejudicing an investigation once a SAR has been made,
Preparing annual MLRO report to Audit Committee, in addition to quarterly updates as requested,
Supervision of AML systems and controls in Paris branch or other relevant entities through monthly reporting.

Key Candidate Requirements:

Qualified Compliance / KYC analyst with at least 3 – 5 years of practical experience in a Compliance Department in international banking or financial services.
Knowledge of fighting financial crime, anti-terrorism laws as well as Anti-Money Laundering is a strong advantage.
Knowledge of financial services industry regulation, experience of dealing with the UK and/or global Regulatory requirements.
Strong interpersonal skills to manage relationships positively both internally and externally.
Ability to manage time efficiently and work under pressure of deadlines, delivering to agreed timelines and budgets
Ability to work effectively both within a team environment and independently
Interest in complex, international regulatory and reputational issues
Adherence to Bank Policies and Procedures, e.g. IT, etc.
Strong oral and written communication skills, with clear and concise reporting abilities
Dedicated, enthusiastic, flexible and team-orientated personality.
Comfortable with working in a technology driven environment with strong command of office programs and ability to understand and work with IT tools
Fluent in English. Fluency in French would be an advantage, additional languages are an asset.