Head of Compliance – EXCLUSIVE

Compliance Professionals; London; On-site; GBP 50,000 - 70,000; Full time

Job summary

A leading brokerage firm in London is seeking a Compliance Officer to manage regulatory compliance and anti-money laundering systems. The role involves overseeing compliance obligations, preparing regulatory reports, and ensuring effective communication with regulatory bodies. Candidates must have derivatives knowledge and experience with regulatory requirements in the brokerage sector.

Qualifications

• Derivatives background/knowledge is essential.
• Experience in SMF16 from a brokerage/derivative market firm is preferred.
• Ability to communicate complex regulatory issues clearly is necessary.

Responsibilities

• Ensure compliance with regulatory obligations.
• Manage responses to audits and investigations.
• Prepare reports on compliance status for management.

Skills

Derivatives knowledge

Regulatory compliance

Anti-money laundering systems

Effective communication

Job description

Overview

THE COMPANY: Our client is a leading brokerage firm providing global clearing solutions to the derivatives markets.

Responsibilities

• Ensure the Company operates in accordance with all relevant regulatory obligations.
• Ensure, through regular monitoring that the Company complies with rules of the exchanges and clearing houses of which it is a member.
• Establish appropriate policies, frameworks, procedures and processes to ensure compliance by the Company and its staff with relevant regulatory and exchange obligations and to work with all business areas in a proactive manner to achieve this;
• Manage responses to audits and investigations from exchanges and the FCA;
• Oversee and ensure that effective regular monitoring reviews are carried out under the Compliance Monitoring Plan (and on an ad hoc basis where necessary);
• Work with the COO to ensure accurate and timely regulatory reports are submitted (EMIR, MiFID, REMIT etc.);
• Prepare regular reports that accurately reflect the status of compliance of the Company and to advise management on relevant issues;
• Ensure appropriate regulatory training plans are in place for staff and the delivery thereof;
• Ensure support is given to internal projects which are required to meet regulatory and exchange requirements on a timely basis;
• Attend and participate in Management Committee meetings and bring to bear commercial, business and professional experience in the decision making process;
• Oversee the effectiveness of the client onboarding process including KYC and due diligence checks;
• Ensure appropriate records and reports are maintained regarding the activities of the Compliance Department in accordance with all relevant regulatory requirements;
• Review, analyse, report on and make recommendations about new issues that may affect the business of the Company in regulatory areas and take appropriate action to ensure full compliance by the Company ; and
• Attend the Risk Committee of the Board and provide it with regular reporting.

MLRO responsibilities (SMF17)

• Monitoring the effectiveness of the Company’s anti-money laundering systems and controls against the requirements of the Money Laundering Regulations, FCA rules, regulation and guidance, POCA 2002 and the Terrorism Act 2000;
• Ensuring that the anti-money laundering client account opening processes are compliant with the Company’s policy and the Money Laundering Regulations, other applicable law and the JMLSG Guidance;
• Conducting and maintaining a Business-Wide Risk Assessment for financial crime;
• Receiving and reviewing internal disclosures and submitting external reports to the NCA;
• Responding promptly to any reasonable request for information made by the FCA or law enforcement authorities;
• Liaising with the FCA, NCA and other external agencies;
• Ensuring that anti-money laundering training is provided, its standards and scope are appropriate and that records are kept;
• Reporting to the Board on at least an annual basis (via the MLRO Report) and keeping the Senior Management updated on money laundering issues;
• Obtaining and using national and international findings, for example the findings of the FATF, IMF and World Bank to drive a robust culture;
• Appointing a Deputy MLRO to cover the MLRO’s periods of absence;
• Ensuring that client and transaction monitoring is being undertaken;
• Assessing the risks of the Company’s client base and business activities in relation to money laundering on an on-going basis;
• Ensuring the Company’s policies and procedures are communicated effectively to all relevant employees;
• On an on-going basis, the MLRO reviewing the Company’s business activities

Experience required

• Derivatives background/knowledge
• SMF16 experience ideally from brokerage / derivative markets firm
• Maintain knowledge and awareness of the wide-scale regulatory issues that affect the Company and the industry;
• Maintain effective oral and written communication including detailed reports and other material of a technical and/or complex nature where appropriate;
• Develop knowledge regarding the position of the Company in the industry and in the overall political, economic and regulatory environment; and
• Maintain comprehensive regulatory knowledge of products and services in own areas of responsibility.

For further information please contact Hannah Tabatabai