I am working with my client to appoint aHead of Compliance - Payments company The Role This is a PCF-12 position for Head of Compliance and PCF-52 for Head of Anti-Money Laundering and Counter Terrorist Financing Compliance.
The role holder would also act in a consultative way in advising the Board and Senior Management on the effect of regulatory or legislative changes to business practices.
Expected to be the internal subject matter expert (SME) for the Central Bank of Ireland (CBOI) rules.
Maintaining an internal working document, procedures or knowledge base to ensure that regulatory information is shared and that there is no single point of failure in relation to the regulatory information gained.
Responsibility for ensuring that The company is complying with the various regulatory rules.
Support the business leaders in the strategic planning for the function and the review, enhancement and implementation of risk based financial crime prevention, detection procedures, and systems and controls To advise management on and monitor compliance with Financial Promotion regulations.
The Candidate Primary point of contact with the CBOI and maintaining an appropriate relationship with the regulator.
Experience in managing a compliance function within a financial services business in Ireland preferably with experience in the payments arena.
Prior PCF approval desired.
Ensure CBOI regulatory returns are filed on time (but not necessarily responsible for completion).
Ensure appropriate Compliance monitoring is undertaken, results reported and recommendations, where appropriate, deliver improvements to systems or procedures.
Review and recommend updates to controls, policies and procedures in line with business and legislative changes.
Ensure that controls, where accepted, are documented and embedded with the business.
Ensure that the compliance framework (second line of defence) enable the senior management to effectively understand, manage, monitor, and mitigate the firms various compliance and regulatory risks; Ensure employees at all levels are aware of the relevant compliance requirements and possible internal and external penalties for a breach of a law, regulation or company rule.
Design and deliver regulatory training to all employees in a manner that is appropriate to their role and seniority.
Be accountable for the firms financial crime obligations and compliance with the various pieces of legislation that impact on the business; Analyse Suspicious Transaction Reports referred for potential Money Laundering (ML), terrorist financing (TF) and fraud activity.
Report to the authorities where appropriate.
Ensure Sanctions/PEP alerts are reviewed and actioned accordingly to reduce the risk of the Group dealing with companies or individuals that might be subject to enhanced due diligence measures or that the group cannot do business with due to being sanctioned.
Support all business areas through provision of operational advice and guidance in respect of the practical interpretation.
Skills: PCF 12/52 Compliance AML and CT Payments experience