Head of Financial Crime / MLRO

Isle of Man

Permanent

Our client looks for a Head of Financial Crime & MLRO to join and lead their Financial Crime Team.

Role Profile: You will be responsible for the management of the Group's Financial Crime Function, with MLRO responsibility. You will be based in the Isle of Man and co-ordinate the second line financial crime related activities which underlie the first line / second line partnering model. You're your team you will promote compliance with Isle of Man (and other applicable) law and regulation.

Appropriate reporting to Senior Management and the Boards of the Group and its licensed entities is crucial in the function. The Head of Financial Crime/MLRO will be a member of the Group's Risk and Compliance Committees and will attend all necessary Board and Committee Meetings, by invitation, pursuant to fulfilling this role. Where required by regulations, you will hold the relevant controlled function role for the respective licenced entities in the Isle of Man.

Key Responsibilities:

Responsible for the Financial Crime Function of the Group and its underlying subsidiaries.
Management of the target operating model for the Financial Crime Function and engagement with the Group and subsidiary Boards thereon.
Leadership of the Financial Crime Team, including people management
Foster a culture that promotes compliance with Isle of Man (and other applicable) law and regulation.
Responsible for the development and promotion of the Group wide Financial Crime strategy.
Consult with senior management across the Group regarding the strategy of the Group to ensure material financial crime risks (current and emerging) are appropriately considered. Ensure alignment with the Group's strategic, operational and financial goals.
Work collaboratively with the Compliance, Risk and Internal Audit Teams to ensure effective lines of defence across the wider Group.
Work collaboratively with the Boards of Directors in the assessment of the Financial Crime Risk Appetite Statements and Tolerances.
Provide the correct technical and commercial interpretation of regulatory requirements as they relate to, and should be applied across, the Group's business activities.
Provide advice, guidance, oversight, and challenge on financial crime matters.
Build strong stakeholder relationships with the Group's banking and investment teams and provide subject matter expertise to projects and operational teams as required.
Responsibility for the implementation and continuous improvement of internal financial crime policies. and oversight of the proceduralising thereof, in accordance with relevant banking and investment regulatory requirements and best practice.
Responsibility for reviewing, developing and delivering the financial crime training agenda.
Investigate Suspicious Activity Reports (SARs) and ensure timely reporting to relevant authorities.
Maintain accurate records of all financial crime related activities and investigations.
Conduct regular risk assessments to identify and mitigate financial crime risks.
Monitor and review the effectiveness of AML/CFT/PF controls and procedures as implemented across the businesses.
Assist as required with requests from regulators, law enforcement, auditors etc.
Represent the Group and its entities at Industry Body meetings.

Key Skills and Experience

Must hold a recognised qualification in AML, Compliance or Financial Crime (for example, ICA Diploma in AML or relevant financial services qualification), or be deemed to be qualified by extensive and relevant experience in regulatory compliance/Financial Crime in the financial service sector.
Minimum 5 years of experience in a similar role within the financial services industry.
Proven track record in managing financial crime prevention and compliance.
Excellent technical knowledge of Compliance, Regulatory, and Legislative requirements, predominantly from an Isle of Man, UK, and EU perspective.
Good knowledge of banking and investment products and processes and industry best practice, particularly in the offshore market.
Experience of dealing with external bodies (for example, the FIU) including day to day relationships and regulatory visits.
Practical experience of translating regulation into a working document understood by the business.
Strong leadership and management skills.
Excellent interpersonal skills and the ability to relate with all parts of the business particularly Senior Management.
Strong attention to detail and analytical skills.
Ability to identify possible concerns/objections and structure communication accordingly.
High level of integrity and ethical standards.

Your specialist: Anne Murray

Quote job ref: 15854

Hi, I'm your specialist Anne and I can't wait to hear from you about this job. You can simply submit your CV or call me on 678144 with any questions.