Compliance Manager (Country Lead)

JOB # 108 LOCATION George Town, Grand Cayman, Cayman Islands
  • Anywhere

The Compliance Manager will work in close proximity with the Chief Risk Officer and Managing Director to ensure that the Company has a tight and compliant regulatory regime within the Cayman Islands.

Duties

  • Accept appointment as the Anti-Money Laundering Compliance Officer (AMLCO) and Money Laundering Reporting Officer (MLRO), acting as the main point of contact between the organization and the relevant authorities;
  • Ensure compliance and risk issues are identified, managed and controlled to maintain a robust risk culture while overseeing the implementation of the global risk management strategy;
  • Lead the client on-boarding process, driving efficiency to most effectively adhere to our risk appetite ensuring that all required checks and procedures are complied with;
  • Ensure that clients are monitored through the duration of their life and appropriate action taken at any trigger event such as a raise in risk profile;
  • Manage intragroup activities e.g., conflict checks and sanctions screening for the group as required;
  • Act as an advisor to senior management and the board of directors on issues of regulation, risk management, corporate governance, best practice and internal policies and procedures;
  • Liaise with external third parties, such as the Cayman Islands Monetary Authority (CIMA) and the Financial Intelligence Agency on behalf of the company and its affiliates;
  • Manage the compilation, delivery and facilitation of compliance-based training as appropriate and maintain anti-money laundering training logs;
  • Act as a point of reference in relation to proposed regulatory/legislation changes (consultation papers and similar), communicating regulatory changes to the organization as relevant;
  • Maintain responsibility for the completion of Business Risk Assessments, producing a summary report of findings with suitable recommendations or remedial activities;
  • Manage the development and implementation of Compliance monitoring programmes, and the management of remedial activities;

Requirements:

  • A professional (e.g., legal or accounting) or recognized compliance designation (e.g., ICA or ACAMS);
  • At least 5 years’ experience in a regulated or supervised environment, preferably compliance, managing small to medium sized teams;
  • A demonstrable understanding of international policy in the fields of anti-money laundering and anti-terrorist financing by groups such as the Financial Action Task Force, the International Monetary Fund, etc.;
  • A working knowledge of the Cayman Islands requirements in the fields of an anti-money laundering, anti-terrorist financing and the acts and regulations governing financial services;
  • Excellent understanding of customer due diligence, including enhanced due diligence and high-risk features;
  • A good understanding of different corporate and trust structures used in the offshore market;
  • A comprehensive knowledge of client types and associated CDD requirements, etc.;
  • Exceptional written and oral communication skills together with strong analytical and problem-solving skills.