Analyst III - AML Supervision Department
JOB SPECIFICATION
JOB TITLE: Analyst III - AML Supervision Department
DEPARTMENT: AML Supervision Department
LOCATION: Based in Providenciales (with occasional travel to Grand Turk)
JOB SUMMARY
Reporting to the Director, AML Supervision Department, the jobholder will be responsible for leading a team of analysts and providing strong support to the Director and Department in implementing the Commission’s AML/CFT risk management framework for regulated/supervised sectors.
The jobholder shall:
• Be responsible for preparing and monitoring ML/TF risk profiles of the regulated and supervised sectors, and based upon this information prepare and implement, in conjunction with the regulatory departments, the annual programme of on-site examinations and off-site surveillance activities.
• Supervise activities of all reporting analysts.
• Be responsible for the complete and accurate registration and ML/TF risk management of supervised sector.
EDUCATION & EXPERIENCE:
▪ Bachelor’s Degree (or an equivalent qualification) in Law, Accounting, Finance, or Business Management, the latter with audit or compliance as an assessed component. A person with a legal or accounting degree will be preferred.
▪ Chartered Internal Auditor (IIA UK) or an approved equivalent Internal Audit qualification.
▪ Five (5) years related experience in the financial sector, with a minimum of three years in auditing, compliance or as a Money Laundering Reporting Officer
▪ Certified Advanced AML Audit Specialist (CAMS-Audit) or ICA International Diploma in AML. Consideration may be given to other equivalent AML audit or compliance qualifications.
SPECIFIC KNOWLEDGE REQUIRED:
▪ A good knowledge of both the Financial Action Task Force Recommendations, and the Turks and Caicos Islands AML/CFT legislation, their purpose and relationship with each other.
▪ A good knowledge of the Turks and Caicos Islands Legislation relevant to the regulated and supervised sectors.
▪ Proficient understanding of the principles of ML/TF risk management, and internal audit standards.
▪ A general understanding of IT systems and the use of such technologies in the financial services industry, from both the supervisory and the practitioner point of view.
SPECIALISED TECHNIQUES/SKILLS:
▪ Highly proficient in oral and written communication.
▪ Strong personal organization skills enabling the ability to handle competing priorities and demanding deadlines and commitments.
▪ Demonstrated ability to lead and supervise a team delivering projects on time and to good quality.
▪ Proactive in identifying, designing and implementing AML/CFT supervisory best practice opportunities.
▪ Leadership skills in the design and implementation of examination techniques to equivalent of international internal auditing standards.
▪ Intellectually curious with proficiency in analytical thinking and problem solving.
DUTIES & RESPONSIBILITIES:
1. Responsible to implement and monitor the risk profiling of regulated and supervised sectors.
2. In conjunction with regulatory departments, preparation and implementation of the annual risk based on site examination plan, monitor progress and incorporate changes to the plan in cases of urgent emerging risks.
3 Design and implement the training programme for staff of the AML Supervision Department, together with relevant staff and management in the regulatory departments engaged in on-site examinations, off-site surveillance and risk profiling.
4.Lead onsite examination teams; supervising timely and accurate completion of preparatory notes, preparing analyses of data during the pre-examination phase, on-site engagement planning, implementation and completion of examination reports.
5. Contribute to raising awareness of AML/CFT issues and competencies of the regulated and supervised sectors.
6. Recommend improvements to the TCI AML/CFT legislation to ensure alignment with the
Financial Action Task Force Recommendations.
7. Supervise the maintenance of accurate records of registered Designated Non-Financial
Businesses and Professions (DNFBPs) and Non Profit Organisations.
8. Approve, within defined levels of responsibility, applications to register DNFBPs and Non- Profit Organisations, including ensuring continued integrity of databases.
9.Responsible for the on-site examination and off-site surveillance of DNFBPs and Non-Profit organisations
10.Daily supervision of reporting Analysts, completion of performance appraisals and personal development planning.
11. Performing other related duties assigned by the Director of the AML Supervision
Department.
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