Compliance Officer

Compliance Officer

Salary: $17,000.00


Summary of Position:

The Compliance Officer reports directly to the Board of Directors with a reporting/administrative relationship to the CEO. This is a high level regulatory position assigned to the CEO’s Office. This position works independently, coordinating and monitoring the company’s Compliance Programme and will:

• Provide guidance on the proper application and interpretation of laws, regulations and policies applicable to compliance as it pertains to the Company;
• Provide Management with guidance in the development and maintenance of policies, procedures and practices to cover regulated activities;
• Ensure that the necessary compliance programme, procedures, controls and training required by the Financial Obligations 2010 in place.

 

Principal Accountabilities / Key Functions:

• Adheres to the highest operational standards and aims to deliver on all annual department goals and personal Key Performance Indicators (KPIs) as agreed to with CEO and/or Board;
• Develops goals, objectives, and key performance indicators for the department;
• Designs and implements work programs to achieved department goals;
• Co-ordinates and monitors the Compliance Programme (CP) to ensure continuous compliance with the Financial Obligations (FOR) and CBTT Regulations;
• Develops, initiates, maintains and reviews policies and procedures for the general operation of the Company Compliance Programme and its related activities to enforce ethical and compliance thereto;
• Collaborates and directs internal departments on compliance issues;
• Receives and reviews reports of Suspicious Activity Reports (SAR) and where appropriate remits SAR’s the FIU in accordance with FIU Regulations;
• Audits and maintains an accurate record of Source of Funds in accordance with the Compliance Programme, Anti-Money Laundering and Terrorist Financing Regulations and CFT legislation;
• Monitor the Financial Action Task Force (FATF’s) list of high-risk individual and entities and Non Co-operative Counties and Territories (NCCT);
• Monitor the United Nations security council list (UN1267) for persons identified as terrorists or involved in terrorist activity;
• Conducts, maintains compliance and records of the following activities in accordance with FIU Regulations and CCU Compliance Programme;
• Monitors and maintains registers of enquires;
• Function as the chief liaison between the CU and FIU and keeps staff and officers updated with new information from FIU;
• Co-ordinates all AML/CFT training for Board, Committee Members, and Employees of the Company and maintains the record of all training materials, facilitators and attendance;
• Ensures that there are adequate and timely planning of the Company’s Compliance Audits;
• Responds to all queries from Regulatory Bodies;
• Monitors and maintains an updated Fixed Deposit Certificate Register;
• Reports to the Board on all compliance issues;
• Monitors , maintains and informs staff and officers of updated terrorist listings;
• Reviews periodically all securities held by the Company to determine whether the same had been compromised with terrorist financing and takes appropriate action is required;
• Submits all Periodic reports to FIU and Regulatory Bodies;
• Attends training programmes, seminars and workshops as required by the Company;
• Any other related duties as directed by the Board of Directors and CEO.

Required Technical Qualifications & Experience:

Education:


Minimum

• Qualified Professional in ACCA, CISA, CIA, Risk/Compliance or related discipline;
• Bachelor’s Degree in Accounting or related field from a recognized university;
• Master’s degree would be considered an asset.

 
Experience:

Minimum

• At least five (5) years’ experience in a Auditing, Accounting /Finance or related field.