Our client is seeking a Chief Risk Officer to provide senior compliance support to the business. The successful candidate will perform daily transaction monitoring, perform and oversee the annual review of client’s accounts, ensure documentation for all files is up to date and oversees risk for the business.
ESSENTIAL DUTIES AND RESPONSIBILITIES
- Provide final compliance approval on all new clients.
- Liaise with Chief Compliance Officer, Global Head of Legal, Managing Director, and the Global Audit & Risk Committee as appropriate.
- Prepare reports and KPIs for the CCO, MD & Board of Directors.
- Review daily transaction reports on account activity.
- Oversee monitoring of balances on accounts to ensure funding occurs within required timeframe, minimum balance is maintained and no overdrafts occur, and any and all special fees are being applied.
- Compare activity to client profile, reporting discrepancies to the CCO & MD and ensures resolution.
- Perform annual reviews on client files at an appropriate frequency using a risk based approach
- Maintain knowledge of regulatory requirements for various entity types and corporate documentation requirements as well as understanding of structures.
- Maintain knowledge of AML/CFT due diligence requirements and correctly apply CIMA AML/CFT requirements/exemptions for all components of complex multi-level organizational structures.
- Ensure knowledge transfer amongst staff in relation to risk & compliance, provide thorough training, and manage and develop team members.
- Promote and sustain a risk adverse environment.
- Assist with monitoring inboxes and processing work when other members of the team are out of the office.
- Collaborate with Acceptance team to perform retroactive reviews.
- Collaborate with Acceptance team on ad hoc amendments to authorized signatories, internal structure, etc.
- Ensure all processes, procedures, and policies are up to date and compliant with regulatory requirements and best practices
- Manage personal inbox in a timely manner and ensure all client emails are responded to within 24 hours.
- Continually monitor client files and transactions for sanctioned persons, entities & countries.
- Develop and prepare key technical reports by collecting, analyzing information and trends.
- Identify risk, and set up monitoring facilities to ensure quality and standards are maintained and that the business is safeguarded from financial and reputational risks.
- Respond to queries from and manage the relationship with the correspondent banks and other counterparties.
- Develops/implement corrective action plans for resolution of problematic issues.
- Develop, implement and monitor policies and procedural manuals that contribute to the efficiency of the department while also ensuring timely and accurate delivery of service.
- Able to articulate opinions and communicate decisions to senior management without undue influence.
- Four-year degree in Business, Finance, or a related field.
- Minimum of 10+ years’ post-qualification experience in dealing with corporate structures in the offshore environment.
- ACAMS certification preferred.
- Flexibility and the ability to make good judgment calls with minimal guidance.
- Proven experience of challenging and influencing senior stakeholders.
- Well-organized with the ability to prioritize effectively.
- Solid computer skills including Microsoft Office and familiarity with database software.
- Excellent written and verbal communication skills.