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Assistant Risk and Compliance
Favio
- Bridgetown
- See description
- Permanent full-time
- Updated 07/11/2024
- Human Resources
ARE YOU AN ASSISTANT RISK & COMPLIANCE OFFICER PROFESSIONAL? IF SO, THEN THIS IS THE POSITION FOR YOU!
Overview: Our client is a part of a group of licensed life insurance companies offering Private Placement Life Insurance solutions to a global client base of high net-worth families and individuals.
They offer a wide range of Private Placement Life Insurance products as well as Variable Annuity products which can all be tailored to service each client’s unique financial needs. Due to growth, they are seeking to add a proven professional to their compliance division based in Barbados.
The Assistant Risk and Compliance Officer (ARCO) has the responsibility of assisting in the development and implementation of the company’s established Risk and compliance program and ensuring that the Company is compliant with the Barbados legislative and regulatory environment impacting its’ Barbados portfolio of high-net-worth clients.
DUTIES AND RESPONSIBILITIES:
• Be guided by the Chief Risk Officer (CRO) and Compliance Officer (CO) regarding the company’s approach to compliance with AML/ CFT regulations and legislative requirements.
• Assist in the implementation of/ updates to compliance programs including AML/ CFT Policies and AML/ CFT Entity Risk Assessments to ensure proper reporting and maintenance of records.
• Assist in conducting audits to ensure compliance with procedures, rules and regulations and efficient business processes.
• Conduct assessments and onboarding clients ensuring completed analysis and customer risk profiles.
• Review and verify source of funds for the CO sign off.
• Liable to all communications to regulators under the supervision of the CO.
• Managing tracking lists of ongoing refresh requirements.
• Annual review of portfolios.
• Oversee the preparation and presentation of information and completion of quarterly Compliance Board Meeting packs including updates to high-risk portfolio.
• Review and investigate internal STRs and provide reports as necessary.
• Prepare SARs for submission to FIU by the CO as required.
• Supportive advice and support of the business unit in general business law issues including regulatory, governance and compliance-related issues.
• Research, benchmark and keep abreast of trends and practices in corporate governance to be able to assist the Board. Update and ensure board policies align with current practice.
• Make recommendations to improve and maintain the corporate governance framework ensuring the Company is properly designed, implemented and maintained.
• Any other duties as assigned by CRO or CO.
Requirements
Desired Skills:
• Accuracy and attention to detail
• Can do approach and mentality
• Problem solving
• Highly motivated, proactive, and dynamic person
• Good communication skills, verbal and written
• Ability to prepare Risk and Compliance documents
• Industry knowledge
Desired Experience:
• Minimum of 4 years of compliance/risk/legal and corporate governance experience
• Understanding of how to complete risk screens, open-source internet searching and preparing customer risk profiles
• Experience working with external auditors
• Familiarity with Barbados AML/ CFT laws and regulations
EDUCATION REQUIREMENTS AND DESIGNATIONS
• University Degree in LLB, Law, Compliance, Corporate Governance, Risk or similar subject
• Enrolled in or designation in ICA or ACAMS Compliance designation would be an advantage.
Ref: ZR_582_JOB