Head of Compliance
Head of Compliance and MLRO/Compliance Director – Forex (FX) – London
Arnold Ash have been retained by an innovative FX company dedicated to providing all-round financial services but focused on Forex (FX), and Peer to Peer Lending (P2P). You must have Forex/FX experience!!
The client has established many subsidiaries on a global scale, including China, UK, Australia, New Zealand, Hong Kong and Vietnam and they require a Head of Compliance to report directly in to the CEO of the business.
Main Responsibilities of the Head of Compliance and MLRO include:
- Providing management with the implementation and development of policies, practices and procedures to comply with FCA regulations and enhancing internal systems & controls.
- Development of the relationship between the Compliance Function and both internal and external clients
- Keeping abreast of the national and international regulatory environments and identification of developments that may impact the firm’s control framework.
- Ensuring that all operations are designed, implemented & monitored in line with FCA regulations and be aware of and keep up to date with any changes in regulatory practice through attending appropriate training, and maintaining competence in the relevant areas.
- Conduct compliance monitoring reviews & overseeing risk assessments to verify the integrity of compliance systems and controls to provide assurance/feedback to the business on their ability to meet regulatory/legislative obligations.
- Establishing and maintaining appropriate risk based framework systems & controls
- Liaising with stakeholders to oversee regulatory reporting requirements
- Implementing a strong compliance culture throughout the firm
- Assisting with reports to the board of directors and any ad hoc projects as required.
Essential Skills of the Head of Compliance/Compliance Director:
- Educated to degree level, preferably Business, Finance, Economic or other related field
- Demonstrable Compliance experience gained within financial services, preferably within FX or P2P Lending
- Strong knowledge of FCA regulations and a desire to succeed in a generalist compliance/AML role.
- Knowledge of AML/KYC processes and requirements.
- Ability to make assess operational development and to work accurately to tight deadlines.
- Adaptable & flexible, with an enthusiastic 'can-do’ attitude.
- Excellent communication skills.
- Strong attention to detail.
- Experience in a global business with multiple global offices and exposure to regulation across multiple jurisdictions including the UK, Europe and Asia
- Experience in Data Protection and privacy, with a solid understanding of the forthcoming GDPR
- General experience around other compliance areas such as anti-bribery and corruption
- Experience of setting up and/or managing compliance programmes and controls, including use of technology
- Relevant qualification in Quality Management at level 5 or above
Non-essential but potentially beneficial skills and experience of the Head of Compliance/Compliance Director include:
- CF10&CF11 registered? Previous MLRO/Deputy MLRO experience
- Previous experience of managing internal risk control/financial crime risk (AML/KYC/CDD/Sanctions)
- Fundamental understanding of regulated issues that could affect FX and P2P lending
- Reporting any suspicious activity or transaction to the National Crime Agency (NCA) by completing and submitting a Suspicious Activity Report
- Putting in place and operating anti money laundering controls and procedure (Record keeping)
- Carrying out money laundering risk assessments
- Training staff in preventing money laundering
Full company information and job specification on application.