Part-Time Compliance & MLRO Reporting Officer

Jenson Fisher Consulting Ltd; London; On-site; GBP 60,000 - 75,000; Part time

Job description

Part-Time Compliance & MLRO Reporting Officer | SMF 16 & SMF 17
To £75,000 for 3 days a week (Equivalent to £125,000 full time)
Central London

Our client is a Prestigious boutique Wealth Planning firm, with an in-house DFM team, seeking to recruit a Compliance & MLRO Reporting Officer on a Part-Time basis.

This is a varied role, providing plenty of support and with the client being a BIPRU Firm, there is the opportunity to develop your Investment Compliance skills. They will consider candidates with compliance experience from either the Investment Management or Financial Planning Sector and will provide training on the side of the industry that you are lacking experience in.

Duties and Responsibilities:

1. Establishing and maintaining effective systems and controls for compliance with applicable requirements and standards under the regulatory system.
2. Identifying and assessing the compliance risks associated with the organisation's current and proposed future business activities, including new products, new business relationships, and any extension of operations or network on an international level.
3. Advising management on the applicable laws, regulations, rules, and standards and informing them about any developments in these areas.
4. Establishing written guidelines to staff and service providers on the appropriate implementation of the laws, regulations, rules, and standards through policies and procedures (Compliance Manual); maintaining all compliance policies and supporting infrastructure.
5. Assessing the appropriateness of internal policies, procedures, and guidelines, ensuring a follow-up of any identified deficiencies, making recommendations for amendments where necessary, and supervising the implementation of corrective measures to mitigate the identified deficiencies.
6. Monitoring compliance with internal policies, procedures, and guidelines by performing regular and comprehensive compliance risk assessments and testing; reporting the results on a monthly basis and promptly where deemed necessary to the Management Committee.
7. Providing a central point of contact for all information on compliance-related issues (e.g., breach of regulation, non-respect of procedures, conflict of interest).
8. Ensuring all compliance reports are submitted promptly and accurately to the regulator.
9. Educating staff with respect to compliance with the applicable laws, rules, and standards and acting as an advisor on compliance queries from staff members, providing training where necessary.
10. Liaising with relevant external bodies and regulators on compliance matters.
11. Ensuring the firm complies with the FCA’s Training and Competence (T&C), acting as supervisor where necessary and providing guidance and training where required.
12. Maintaining the firm's operational risk management assessment and reporting relevant significant risks to the Management Committee as applicable.
13. Challenging the business perception of risk.
14. Responsibilities as Money Laundering Reporting Officer.
15. Oversight of compliance with the FCA's rules on systems and controls against money laundering and for countering the risk that the firm might be used to further financial crime. It is specifically noted that these systems and controls must enable the firm to identify, assess, monitor, and manage money laundering risk.
16. Responsible for monitoring the day-to-day operation of Anti Money Laundering (AML)/Countering the Finance of Terrorism (CFT) policies and responding promptly to any reasonable request for information made by the Financial Conduct Authority (FCA), National Crime Agency (NCA), or any other law enforcement.
17. Establishing the basis on which a risk-based approach to the prevention of money laundering/terrorist financing is put into practice and reviewing the approach on a regular basis.
18. All the AML reporting requirements and operating within the required standards.
19. Ensuring that adequate arrangements are in place for the awareness and training of employees. Training must be offered to a high standard and the scope must be appropriate.
20. As a Member of the Management Committee:
21. Help to guide strategy and policy making to achieve and maintain high-quality services in harmony with the beliefs and values of the firm.
22. Ensure that the financial affairs of the firm are conducted on a responsible basis in accordance with established policies.
23. Oversee the outcomes of the work of the firm.
24. Encourage effective communication within the whole organisation, especially between the Management Committee, Advisors, Paraplanners, and Administrators.
25. Actively participate in committees, annual and ad-hoc staff reviews.
26. Compile the Annual Professional Indemnity Insurance (PII) Renewal along with Group Operations Director/Operations Director.
27. Involvement in compliance aspects related to Parent Company operations involving the purchase and integration of third-party financial services businesses into the infrastructure of the holdings group will also form part of the role.